Tag: JLL

Houston-MSA neighborhood retail center trades to DML Capital

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of The Shoppes at Kingsgate, a 156,343-square-foot, grocery-anchored neighborhood retail center located in the Kingwood master-planned community within the Houston MSA.

JLL represented the buyer, DML Capital. Chestnut Ridge Associates, LLC was the seller.

Built in 1980 and renovated from 2015 to 2017, the 95.2% occupied The Shoppes at Kingsgate is anchored by ALDI, a market leader in the grocery sector and one of America’s fastest-growing retailers. Additional tenants include Painted Tree Boutiques, Five Below and Dollar Tree. The property features a WALT of 6.6 years. Situated in the Kingwood submarket, the asset is on one of the most highly trafficked streets in the area, with 41,000 vehicles per day along Kingwood Drive. The property is at below-market vacancy, with the Kingwood submarket at an average vacancy rate of 9%.

Located 27 miles north of Downtown Houston, Kingwood is a highly sought-after, master-planned development in the Houston MSA. Spanning 14,000 acres of lush woodlands, this well-established community features over 500 acres of private parks and nature preserves, as well as 75 miles of scenic greenbelt. Renowned for its picturesque forests and excellent quality of life, the area offers top-notch schools and a wide range of outdoor and water-based recreational activities near the expansive 11,854-acre Lake Houston. With a diverse residential population of approximately 65,000, Kingwood has emerged as a vibrant commercial hub with an abundance of retail and dining opportunities.

The JLL Capital Markets Investment Advisory team was led by Senior Director John Indelli and Senior Managing Director Ryan West. Additionally, a JLL Debt Advisory team, led by Managing Director Michael Johnson and Director Michael King, sourced the financing for the buyer. JLL was able to rate lock at competitive market terms via life company financing.

Financing secured for Northwest San Antonio single-family build-to-rent

Posted on by Mia Goulart

JLL has arranged the refinancing for Farm Haus, a 142-unit, single-family, gated built-to-rent community located in San Antonio, Texas.

JLL worked on behalf of the borrower, AHV Communities, to secure the four-year, fixed-rate loan through a life insurance company.

Completed in 2022, the gated community features two-, three and four-bedroom homes with private yards, attached garages, smart home technology, stainless steel appliances, quartz countertops and nine-foot ceilings. Community amenities include a lounge and community conference room, a resort-inspired pool with sun deck and bocce/game court, a 24-hour fitness center, a dog park, BBQ picnic areas and more.

Situated at 8150 W. Hausman Road, the community sits in the coveted Northwest San Antonio market. The property is minutes from Loop 1604 and San Antonio’s medical center, and residents are also just three miles from The University of Texas at San Antonio. Additionally, the location provides easy access to SeaWorld, Fiesta Texas, La Cantera Shopping Center and Historic Downtown San Antonio.

The JLL Capital Markets Debt Advisory team was led by Managing Director Matthew Putterman and Analyst John David Johnson.

Forty-bed inpatient rehabilitation hospital trades in San Antonio

Posted on by Mia Goulart

JLL Capital Markets arranged the sale of PAM Health Warm Springs Rehabilitation Hospital Northeast in San Antonio. JLL Capital Markets also represented the buyer in arranging acquisition financing.

JLL represented the seller, The Sanders Trust, in the sale and placed financing for the buyer, Norvin Healthcare Properties.

The hospital features inpatient rehabilitation and is a joint venture between PAM Health (PAM) and Bexar County-based, University Health. PAM is the fourth largest post-acute care operator in the United States with 65 hospitals nationwide. Completed in 2021, the newly constructed hospital features 40 beds in 38,667 square feet, therapeutic equipment, modern amenities and a comfortable environment to facilitate patients’ recovery from health events such as stroke and brain trauma.

PAM Health Warm Springs Rehabilitation Hospital Northeast is located at 11407 Wayland Way in San Antonio, the 24th largest metro in the United States. The hospital is in the desirable northeast area of San Antonio and is one of three inpatient rehabilitation hospitals operated by PAM in the San Antonio area, ensuring significant market penetration by PAM in serving patients requiring intensive inpatient therapy following discharge from an acute care hospital.

The JLL Capital Markets team was led by Senior Managing Directors Mindy Berman and Brian Bacharach and Director CJ Kodani. The JLL Capital Markets team that raised acquisition financing for the purchaser was Director Anthony Sardo and Managing Director Tim Joyce.

JLL secures $869 million to refinance a 25-asset national Class A bulk industrial portfolio 

Posted on by Mia Goulart

JLL’s Capital Markets group arranged a total of $869 million in financing for a 25-property bulk industrial portfolio totaling 11.4 million square feet in 13 major industrial markets across the U.S.

JLL worked on behalf of the borrower to secure fixed-rate loans from Northwestern Mutual and PGIM Real Estate. The team secured two separate financings of $259 million and $195 million from Northwestern Mutual and a single $415 million loan from PGIM Real Estate.

The portfolio is comprised of newly built, Class A institutional-quality assets that are fully occupied by 42 diverse tenants. The portfolio has an average clear height of 35 feet and an average vintage of 2020.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director John Rose, Associate Ryan Pollack, and Analyst Luke Rogers. The JLL team worked closely with Kevin Westra and Bob Henning with Northwestern Mutual and Paul Geyer with PGIM Real Estate to facilitate the timely loan closings.

Class A industrial building, Freeport Business Centre, trades in South San Antonio

Posted on by Mia Goulart

JLL Capital Markets closed the sale of Freeport Business Centre, an industrial warehouse totaling 198,000 square feet near San Antonio, Texas.

JLL represented the seller, Becknell Industrial, in the sale to Harbor Capital, the buyer, represented by Avison Young.

Freeport Business Centre, built in 2008, is situated on 9.93 acres and features a rear-load configuration, 40-foot clear heights, 24 dock-high doors, a 130-foot-deep truck court and 94 auto parking spaces.

The property is located at 10120 Fischer Road, less than one mile from Interstate 35, which connects Mexico to the U.S. to Canada and provides accessibility throughout San Antonio via Loop 410 and Loop 1604. The submarket is home to Toyota’s 1.5 million-square-foot manufacturing plant and Navistar’s recently delivered one million-square-foot manufacturing hub, which are a few miles from Freeport. The property is within proximity to Downtown San Antonio, offering convenient access to all parts of the city, including the Far West, one of the fastest growing areas of San Antonio. Additionally, its proximity to major transportation routes further enhances its ability to serve as a premier last-mile distribution facility and capitalize on the robust U.S.-Mexico nearshoring trend.

With easy access to the Texas Triangle, the area between Dallas/Fort Worth, Houston and San Antonio, Freeport Business Centre tenants can reach over 25 million people in a matter of hours. Over the next 40 years, the population of the Texas Triangle is projected to grow more than 65%, resulting in 78% of Texans living within the area.

The JLL Capital Markets Industrial Investment Sales and Advisory team was led by National Industrial Group Co-Lead & Senior Managing Director Trent Agnew, Director Josh Villarreal and Analyst Greer Shetler.

The Avison Young team, representing the buyer, was led by Stan Nowak.

Sale of a newly constructed, Class A industrial facility closes in South Dallas

Posted on by Mia Goulart

JLL Capital Markets represented the seller in the sale of Southfield Park 35 – Building 5, an industrial facility totaling 489,310 square feet in DeSoto, Texas. The property, developed by Seefried Industrial Properties and Affinius Capital, was delivered in September 2022.

Situated on 33.91 acres, the best-in-class asset features 40-foot heights, 185-foot truck court depths, 117 dock doors and 144 trailer parking spaces with the ability to create an additional 50 trailer parks.

Strategically located in the South Dallas industrial submarket, the property benefits from access to many of the major population centers in Dallas-Fort Worth. The facility is located 1.2 miles from I-20 and 2.3 miles from I-35E, which serve as major local, regional and national arteries for logistics and transportation across markets.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Trent Agnew, Directors Tom Weber and Pauli Kerr, Senior Director Parker McCormack, Associate Matthew Barge and Analyst Keenan Ryan.