Jones Lang Lasalle Americas (“JLL”) has been engaged by 3662 Investors LP (the “Operator”, “Sponsor” or “RedBird LP”) to arrange structured equity from a third-party investor (“Investor” or “Partner”) to recapitalize the current partnership and fund future growth opportunities at The Shops at RedBird (the “Project”, “Development” or “RedBird”), an award-winning, 100-acre, mixed-use development in Dallas, TX. Since the initial investment in 2015, the Sponsor has transformed RedBird into a vibrant, mixed-use development that provides the surrounding community with the high-quality amenities it desires, deserves and can afford. The new vision seeks to create a dense mixture of retail, office, hotel, medical and multifamily space while also encouraging walkability throughout the site with its one-acre lawn for community events. The Project consists of a combination of both mature assets that are producing cash flow and assets that allow for future development opportunities, all in a market with attractive demographic winds at its back.
- Redeveloped into: 200,000 SF of medical space, 175,000 SF of retail, 300,000 SF of office neighbored by 300 luxury apartment units and a potential hotel development
- #1 Starbucks in DFW (and one of the top in the nation) - the first standalone Starbucks in southern Dallas
- #1 Foot Locker in DFW
- UT Southwestern 15-yr remaining lease term
- 9-acre development site (~50,000 SF) for Tom Thumb grocery with additional retail - approved and financially backed by the City of Dallas
- Upside potential of $2M+ net operating income projected in the North Wing with interested tenants such as TJ Maxx
- 20+ acres, shovel ready development sites, including ground leases and outparcel buildings along Hwy 67 and I-20