REEP Equity secures acquisition financing for Savoy Manor in Houston

JLL Capital Markets executed the financing deal through Freddie Mac

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Savoy Manor
JLL Capital Markets announced it arranged acquisition financing for Savoy Manor, a 192-unit multihousing property located in Houston, Texas.

JLL Capital Markets announced it arranged acquisition financing for Savoy Manor, a 192-unit multihousing property located in Houston, Texas.

JLL worked on behalf of the borrower, REEP Equity, to secure the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.

Offering one- and two-bedroom options, all Savoy Manor units include private patios, sunrooms or balconies, and spacious walk-in closets. Select units also include updated faux wood flooring and wood-burning fireplaces. Community amenities include a swimming pool, playground area, fitness center and a barbecue-equipped picnic area. The property is also pet-friendly and provides access to an on-site dog park.

Located at 5915 Flintlock Rd., the transit-orientated Savoy Manor is conveniently positioned near Highway 290, Beltway 8 and Loop 610, providing vehicular access across the region. Additionally, the property is near various entertainment, dining, retail and nationally recognized grocery options.

The JLL Capital Markets team, representing the seller, was led by Senior Managing Director Mark Brandenburg, Senior Director CW Sheehan and Analyst Cort Martin.

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales advisory and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

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 deliver best-in-class solutions for clients—whether investment sales 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.

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly-owned indirect subsidiary of Jones Lang LaSalle Incorporated.