**JLL Facilitates Equity Placement for The Residences at Lexington in De Soto, Kansas**
JLL has successfully arranged equity placement for The Residences at Lexington, a new 382-unit garden-style multifamily development in De Soto, Kansas.
Representing Alcove Development, JLL secured investment from Red Starr Investments. The development, located at 34040 W. 90th Circle, is strategically positioned near major economic drivers, including the newly constructed 4.7 million-square-foot Panasonic electric vehicle battery plant and Merck Animal Health’s $895 million manufacturing facility expansion.
The Residences at Lexington will consist of two- and three-story buildings, offering 325,811 square feet of rentable space. The project will bring 382 residential units to a rapidly growing area with strong demand for housing.
JLL’s Capital Markets Debt Advisory team, led by Director Kevin Barron, facilitated the equity arrangement.
“The successful arrangement of equity for The Residences at Lexington highlights the strong demand for multifamily housing in this rapidly growing area,” said Barron.
Local developer Alcove Development, which has extensive experience in the De Soto market, plans to complete the construction by October 2026, with the first units expected to be delivered in June 2025.
