JPI Announces Sale of Jefferson LasCo
422-home Class A multifamily community is in JPI’s backyard of Las Colinas, one of Dallas-Fort Worth’s best places to live
IRVING, Texas (April 9, 2019) – JPI, a leader in the development of Class A multifamily housing, has announced the sale of Jefferson LasCo. Located in the heart of Las Colinas’ booming Urban Center, Jefferson LasCo is a 422-home, mid-rise apartment community distinctively designed to serve the residents of the area.
“If you live in North Texas, you’ve probably noticed the explosive growth Las Colinas has undergone over the past few years,” said Matt Brendel, division president and managing partner for JPI’s Central Region. “Las Colinas is thriving. Given the addition of recently constructed entertainment venues, new restaurants and retail stores, as well as significant corporate relocations, it’s easy to see why. Even with such impressive growth, this only marks the beginning for Las Colinas. The buyer, Pacific Life, agrees and sees a true competitive advantage for Jefferson LasCo.”
JPI developed and built Jefferson LasCo in 2018. Since its completion, Jefferson LasCo has been a top performer in the Las Colinas submarket. It overlooks the scenic Campion Trail and is conveniently located near the Toyota Music Factory, the Las Colinas Urban Center DART rail station and Lake Carolyn. Jefferson LasCo provides the perfect mix of stress-free living and abundant nightlife and outdoor recreation options.
“It has been an absolute pleasure to work with Pacific Life on this transaction,” said JPI’s Brad Taylor, chief development officer and national managing partner. “They are a first-class organization and have ensured that the transaction ran smoothly from start to finish. We could not be happier to transition ownership of this community to their team.”
Pacific Life bought this community with confidence, understanding the value of the excellent surrounding demographics, desirable core Urban Center location and best-in-class new construction. Add in the unmatched luxury finishes within the apartment homes and extensive amenity package, and you have a community that simply cannot be replicated.
JPI would like to recognize and thank its partners for being integral components in bringing this community to life:
- SunTrust, CIBC, Walton Street Capital – finance partners
- Womack + Hampton – architect
- SJL Design Group – interior design
- Kimley-Horn – landscape architect
- Glenn Engineering – civil engineer
JPI is a national developer, builder and investment manager of Class A multifamily assets across the U.S. and is the most active multifamily developer in Dallas-Fort Worth, with over 5,000 apartment homes under construction. Headquartered in Irving, Texas, JPI also has offices in California, Arizona and New York. With a 30-year history of successful developments throughout major U.S. markets and an unparalleled depth of industry-specific experience, JPI stands among the most active privately held real estate companies in the country. JPI’s executive leadership team has an average of 25 years of comprehensive experience in multifamily developments – ranging from low-density garden apartments and mid- to high-density wrap and podium projects to student-living housing projects and mixed-use high-rise developments. The firm offers investment management, predevelopment, underwriting, marketing and asset management services as well as construction, financial and administrative services. To learn more about JPI, please visit JPI.com.
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