The 424-home walkup community in Frisco, which was named the Best Real Estate Deal in the suburban category this year by Dallas Business Journal, was sold to MLG Capital.
TDI, a Class A multifamily investment platform with approximately $3.7 billion of multifamily assets, is proud to announce the sale of Jefferson at the Grove. Purchased by MLG Capital, a national leader in private real estate investments, Jefferson at the Grove is a 424-home walkup community in Frisco, Texas located at 16220 Phoebe Road.
Named the Best Real Estate Deal in the suburban category by the Dallas Business Journal, Jefferson at The Grove is positioned in East Frisco and is adjacent to Craig Ranch, the 400-acre master-planned community that features the five-star TPC Craig Ranch golf course as well as additional residential, commercial, and retail offerings.
“MLG Capital has been a pleasure to work with on this transition,” said Brent Ball, President and Partner at TDI. “We are so proud of this community and the impact it has made in Frisco. I know that the very capable team at MLG will continue to shepherd the project with the same dedication and vision that has brought us to this point.”
The garden-style apartment community, which was completed in 2023, features resort-quality amenities, including a pool, sundeck, and cabanas, a game room, fitness and yoga facilities, EV stations, and high-end interior finishes. Residents can choose from 1-, 2-, or 3-bedroom floorplans, all which showcase top-of-the-line finishes. Carports and storage rooms are also available on the premises.
Jefferson at the Grove, which will be renamed The Jade at Frisco by the new owners, is located within 10 miles of large employers such as JPMorgan Chase, CapitalOne, and Bank of America, and within a 30-minute drive of more than 1 million employees, according to Frisco Economic Development Corporation.
“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,” said Ryan Mueller, Senior Vice President at MLG Capital. “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.”
Partners who played a pivotal role in this project include, JPI (Developer), Berkadia (Broker), Interbank (Capital partner), and International Capital (Capital partner).
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About TDI
TDI is a multifamily investment and operating company owned by Bobby Page, Ron Ingram, and Brad Taylor, the former owners of JPI. While at JPI, they led the company to develop 115,000 apartment homes across 380 communities representing $18 billion of value. Having recently sold the JPI operating company platform to Sumitomo Forestry America, Inc. in November of 2023, TDI retained 31 real estate projects with a total valuation of $3.7 billion.
To learn more about TDI, please visit www.tdire.com
About MLG Capital
MLG Capital is a sponsor of private real estate funds targeting investment from investment advisors, family offices, and accredited individuals. For more information about MLG Capital and its investments, visit the firm’s newsroom.
TDI CONTACT
Chelsea Sweat on behalf of TDI
