MLG Capital, a national leader in private real estate investments, announced the acquisition of The Jade at Frisco, a newly constructed apartment development located at 16220 Phoebe Road in Frisco, Texas. This Class A community, completed in 2023, comprises 424 units.
The garden-style apartment community boasts resort-quality amenities, such as a pool with a sundeck and cabanas, a game room, fitness and yoga facilities, EV charging stations and high-end interior finishes.
The complex is located within 10 miles of major employers including JPMorgan Chase, CapitalOne and Bank of America. It is also within a 30-minute drive of over 1 million employees, according to the Frisco Economic Development Corporation. The Jade at Frisco is adjacent to Craig Ranch, the 400-acre master-planned community that features the five-star TPC Craig Ranch golf course.
"We are thrilled to add another Class-A suburban garden-style apartment complex to our portfolio and to increase our owner-operator footprint in North Texas," MLG Capital Senior Vice President Ryan Mueller said in a statement. "Frisco has been a magnet for job growth and corporate relocations nationally. Voted one of the safest cities in America, families continue to move into the area, and we are pleased to offer premier housing options here through The Jade at Frisco."
The purchase of the community is thanks to the North Texas area being one of the most vibrant communities in America, representing 25 percent of Texas's population and ranking No. 1 in the U.S. for both five-year job growth projections and year-over-year job growth. It hosts 24 Fortune 500 company headquarters and was recently selected as the new location for relocations or expansions by Amazon, Dollar General, Google and McAfee.
"The current vitality and expected growth of Frisco proper and the broader DFW market makes this a smart and exciting investment for our investors, and we hope to exceed our targeted returns," said Mueller.
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