$130M loan arranged for BTR portfolio across Dallas, Austin & Tampa markets

DALLAS, Dec. 18, 2025 –  JLL Capital Markets announced today that it has arranged a $130 million refinancing for the Vireo BTR Portfolio, a premier collection of three Class A build-to-rent properties strategically located across the Dallas, Austin and Tampa metropolitan areas.

JLL represented the borrower in securing the refinancing through KeyBank National Association’s - Institutional Real Estate Group, after a competitive loan process.

The portfolio consists of residential units across 780,624 rentable square feet. The three properties include Vireo Medical District, a 210-unit property at 2300 S. McDonald St. in McKinney, Texas that delivered in 2024 and recently stabilized; Vireo Twelve Oaks, a 217-unit property at 201 Morningstar Blvd. in Georgetown, Texas that recently delivered in 2025 and is currently in lease-up; and Vireo Wesley Chapel, a 181-unit project at 1219 Violetear Dr. in Wesley Chapel, Florida that is currently finishing up construction.

The portfolio offered a rare financing opportunity that blends the privacy and space of single-family homes with the amenities and convenience of multi-community living, creating a scarce, high-quality product that meets the growing demand for luxury rental housing in their respective metropolitan areas.

Vireo BTR Portfolio offers residents premium amenities and modern living spaces while providing the lifestyle benefits of detached housing within professionally managed communities, epitomizing quality and desirability in the build-to-rent sector.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Jim Curtin, Director Lauren Dow, Vice President Rex Cruz and Analyst Obi Eboh.

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 sales and 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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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.