Two-property retail portfolio in Central Texas secures acquisition financing
JLL Capital Markets arranged the financing for the 7,090-square-foot The Shops at The Rim in San Antonio and the 6,991-square-foot 3701 Guadalupe in Austin
AUSTIN, TEXAS – Dec. 5, 2022 – JLL Capital Markets announced today that it has arranged the acquisition financing for two retail centers in high-growth markets in Central Texas, including the 7,090-square-foot The Shops at The Rim in San Antonio and the 6,991-square-foot 3701 Guadalupe in Austin.
JLL worked on behalf of the borrower, Door Capital Partners, to secure the five-year, fixed-rate loan. Additionally, JLL marketed The Shops at Rim on behalf of the seller.
Located at 6028 Worth Parkway, The Shops at The Rim is situated within the 1.8-million-square-foot
mixed-use district, The Rim, in northwest San Antonio. The property is easily accessible from I-10 surrounded by San Antonio’s largest employment centers, top-end demographics, entertainment destinations and education and military hubs. Built in 2012, The center is 100% occupied, and tenants include The Rim Dental Care, Starbucks Coffee, Pigtails & Crewcuts and GNC.
3701 Guadalupe is located on the northern edge of West Campus, in the center of off-campus living for University of Texas students. It is also within proximity to the affluent neighborhoods within Austin, such as Hancock, Hyde Park, and Old West Austin. The 1976-built center is 100-percent leased to Domino’s, Walgreens, Smile Haus, Body Brite and Evo Performance.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director CW Sheehan and Analysts Kaitlin Kane and Hunt Wood. The JLL Capital Markets Investment Sales Advisory Team was led by Senior Managing Director Chris Gerard and Analyst Jack Copher.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Door Capital Partners
Door Capital Partners is a private equity firm that invests in hospitality and commercial real estate assets. Through strategic execution and efficient management, Door Capital Partners generates attractive returns for its investors, and makes a positive impact on the people and the communities where it invests. The firm was founded in Austin, TX, in 2020 by Alex Arregui, Alex Suarez and Jerry Carreno. Its retail division is a joint venture with Kiva Grupo Inmobiliario, out of Guadalajara, Mexico.