JLL Capital Markets announced that it has completed the sale and financing of Cottages at Leon Creek, a 284-unit, build-to-rent (BTR) multifamily asset located in San Antonio, Texas.
JLL represented the seller and procured financing for the buyer of Cottages at Leon Creek.
With easy connectivity to major transportation arteries like Interstate 10 and Loop 1604, residents of Cottages at Leon Creek can enjoy quick commutes to prominent businesses and entertainment destinations. The asset is situated only minutes away from the University of Texas at San Antonio, La Cantera and The RIM. Furthermore, the submarket’s limited inventory under construction and a scarcity of BTR units being developed in the surrounding three-mile radius create a favorable supply-insulated environment for this well-located property.
Cottages at Leon Creek has been meticulously repositioned from a student housing community, featuring renovated units with premier finishes like stainless steel appliances, granite countertops and farmhouse-style sinks. These thoughtfully updated units now offer two-, three- and four-bedroom, two-floor units. Some units also offer fenced-in private yards. The 92% occupied living complex presents numerous value-add opportunities, including the potential for smart technology packages, carports, bathroom upgrades and enhanced green spaces. In addition to standard amenities like a resort-style pool and fitness center, the property boasts unique features such as a pickleball court, private workstations, a cinema and direct access to the scenic Leon Creek Greenway.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Robert Arzola and Ryan McBride and Senior Managing Director Robert Wooten. The BTR/Single Family Residential team consisted of Managing Director Matthew Putterman and Director Daniele Colbertaldo.
JLL Capital Markets’ Debt Advisory team was led by Senior Director Jayme Nelson and Senior Managing Directors Brian Carlton and Leon McBroom.
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.
