JLL Capital Markets announce that it has closed the sale of and arranged acquisition financing for The Loop Apartments, a 188-unit, Class A luxury apartment community in Conroe, Texas.
JLL marketed the property exclusively on behalf of Apartment Advisors, Inc. and procured the undisclosed buyer. In addition, JLL worked on the new owner’s behalf to arrange a fixed-rate Fannie Mae acquisition loan. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender.
The Loop Apartments is located at 3400 Loop 336 just minutes from Interstate 45 to the north of the Houston metro. Completed in 2017, the sought-after property consists of eight three-story apartment buildings that house a mix of one-, two- and three-bedroom floor plans averaging 909 square feet. Units feature luxury lighting packages, stainless steel appliances and high-end finishes. Common area amenities include a saltwater pool, two outdoor grilling stations, state-of-the-art fitness center, outdoor entertainment pavilion, dog park, 424 parking spaces and controlled access.
The JLL Capital Markets team representing the seller was led by Greg Austin, Chip Nash, Bob Heard, Chris Curry, Todd Marix, Chris Young, Joey Rippel and Kyle Whitney.
JLL’s Capital Markets debt placement team representing the new owner was led by Tim Leonhard, Mary Davis and Eric Hightower.
JLL delivers multihousing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multihousing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities. Agency/GSE lending and loan servicing are performed by Jones Lang LaSalle Multifamily, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries