JLL Income Property Trust has acquired Villas at Legacy, an amenity-rich, luxury garden-style 328-unit apartment community located in Plano, Texas.
“The acquisition of Villas at Legacy further supports our investment strategy targeting well-positioned suburban markets with highly rated schools and strong market fundamentals and demographics,” said Allan Swaringen, president and CEO of JLL Income Property Trust. “This investment brings our aggregate apartment allocation to nearly $650 million, with over 2,500 apartment units, representing just over a quarter of our $2.6 billion, 69-property portfolio.”
Plano, located in Dallas’ prestigious Platinum Corridor, is a main driver of the Dallas-Fort Worth metroplex which continues to create jobs at a rate that is almost double the national average according to the U.S. Bureau of Labor Statistics. The region boasts a population of 7.4 million, and is home to multiple Fortune 500 headquarters including American Airlines, AT&T, Exxon Mobil, Kimberly-Clark, Dr. Pepper Snapple and Texas Instruments.
