JLL Capital Markets announced that it has arranged the successful sale and financing of the community formerly known as Camden Midtown, a 337-unit, three-story apartment community in Houston, Texas.
JLL worked on behalf of the seller, Camden Property Trust. JLL also represented the buyer, Bow River Capital, in securing a loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo® Lender.
The community, originally built in 1999, is strategically positioned in the heart of Midtown near Montrose, Downtown and the Texas Medical Center, providing residents with unparalleled access to Houston’s major employment centers and retail amenities. Camden Midtown features pools, 24-hour fitness centers, a pet park and a direct-access parking garage.
Houston’s Midtown submarket continues to be one of the city’s most sought-after residential areas with limited competing supply, high concentration of renters and strong occupancy rates. The property boasts an impressive walk score of 94, transit score of 81 and bike score of 64, highlighting its urban connectivity.
JLL Capital Market’s Investment Sales and Advisory team was led by Dustin Selzer, Jett Lucia, Aziza Rehmatulla and Matt Kafka. JLL Capital Market’s Debt Advisory team was spearheaded by Leon McBroom ,Rob Bova and John David Johnson.
“The acquisition represents an excellent opportunity in Houston’s dynamic Midtown district,” said Selzer. “The property’s strategic urban location coupled with the fantastic job the team at Camden has done over the years maintaining and operating the building makes this a very special asset.”
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.
