Tag: JLL

$255 million credit facility arranged for single-family rental portfolio located across Texas

Posted on by Mia Goulart

JLL Capital Markets has arranged a $255 million credit facility for single-family rental homes located across Texas. Upon close, the facility refinanced an initial portfolio of homes in Houston, Dallas-Fort Worth, San Antonio and Bryan/College Station.

JLL worked on behalf of the borrower, Camillo Properties Ltd. doing business as SimplyHome, to secure the bridge facility through Churchill Real Estate, a vertically integrated real estate investment firm with $6 billion outstanding across more than 60 facilities in its lender finance business as of Q2 2023. SimplyHome is one of the largest private owners of purpose-built SFR in the country, and since inception, SimplyHome has scaled its holdings into 10,000 SFR homes across 100 different neighborhoods.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Colby Mueck, Managing Director Matthew Putterman, Director Laura Brown and Analyst Davis Burnett.

Financing secured for newly built distribution facility in Fort Worth

Posted on by Mia Goulart

JLL Capital Markets arranged financing for Meacham Commerce Center Building 1, a Class A industrial facility totaling 334,750 square feet in Fort Worth, Texas.

JLL worked on behalf of the borrower, McCormack Commercial, to secure the loan from Protective Life Insurance Company.

Built in 2022, the property is located north of downtown Fort Worth and is situated on 19.36 acres, allowing for 240 car parking spaces and 103 trailer parking spaces. The fully leased building has a 36-foot clear height, cross-dock loading capabilities, 60-foot staging bays, 70 dock-high doors and four drive-in ramps.

Meacham Commerce Center has access and proximity to the DFW airport and major interstates, including frontage along Interstate 35 West and near direct access to Interstate 820, two of DFWs major trade routes.

Moving forward, Meacham Commerce Center, situated on approximately 80 acres, will deliver three additional buildings adding another 977,161 square feet to the park. When complete, the three buildings will accommodate tenants ranging from 20,000 square feet to 600,000 square feet. Building configurations will be rear load and cross dock with 24- to 40-foot clear heights. Fronting I-35W will be a 69,120-square-foot rear load facility. A 582,540-square-foot cross dock is planned in the heart of the site with 325,750 square feet on its western border.  The remainder of the project will be leased by Matt Carthey and George Jennings of Holt Lunsford Commercial.

The JLL Capital Markets Debt Advisory team was led by Colby Mueck along with John Beeler and John David Johnson.

West Houston office property trades to 1031 investor

Posted on by Mia Goulart

JLL Capital Markets has completed the sale of Briar Forest Crossing, a 94,404-square-foot office building in Houston, Texas.

JLL represented the seller, CapRidge Partners, LLC in the off-market transaction. LM & Associates, LLC, a 1031 investor, purchased the property and was represented by Doug Pack with Colliers, who will also be handling the leasing.

Briar Forest Crossing is located at 1300 West Sam Houston Parkway, at the northwest corner of Sam Houston Tollway and Briar Forest in Houston’s Westchase submarket. The office building is convenient to Houston’s Energy Corridor as well as the Galleria and Greenway Plaza business districts. Additionally, the property is just west of The Villages, one of Houston’s most affluent residential neighborhoods.

The four-story building is currently 73.1% leased and serves at the headquarter location for US Physical Therapy. Building amenities include a common area conference center and parking in an attached structured garage.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Marty Hogan.

Sale of grocery-anchored retail center in suburban Dallas closes

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Independence Square, a 140,218-square-foot, grocery-anchored retail center located in the Dallas suburb of Plano, Texas.

JLL represented the seller. Head Capital Partners acquired the asset.

Built in 1977 and renovated in 2005, the 94% leased center is grocery-anchored by a high-performing Tom Thumb that comprises 31% of the total rentable area and has operated as the anchor for 45 years. Tom Thumb’s parent company, Albertsons, is the second-largest supermarket chain in North America, with over 2,300 stores total and 65 stores in Texas. Additional tenants include Oscar Nail Lounge, Cookies by Design, Great Clips, Little Greek Restaurant, Frost Bank, Jersey Mike’s and Workout Anytime. The property receives approximately 850,000 visits every year.

Located at 3100 Independence Parkway, Independence Square sits at a high traffic intersection within a dense neighborhood population. The property caters to over 127,000 residents within three miles with an average household income of over $130,000, which is 20% above the Dallas-Fort Worth average. The center is also adjacent to heavy daytime traffic generators, including Plano High School to the south and four surrounding elementary schools in every direction. Additionally, it is just 35 minutes from Downtown Dallas and 15 minutes from the Legacy office submarket.

The JLL Retail Capital Markets team was led by Senior Managing Directors Chris Gerard and Barry Brown, Director Erin Lazarus and Associate Ben Esterer.

National investor adds West Texas self-storage facility to its portfolio

Posted on by Mia Goulart

JLL Capital Markets has completed the sale of Atlas Self Storage, a 116-unit self-storage facility in Midland, Texas.

JLL represented the seller, Atlas Self Storage, and procured the buyer, KO Storage.

Atlas Self Storage is located at 200 Norman St. just north of Interstate 20 in Downtown Midland. The project sits near a collection of KO Storage facilities and is easily accessible from the majority of Midland’s residential population. The 18,120-square-foot facility was 95% occupied at closing.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Directors Adam Roossien, Matthew Wheeler, Steve Mellon and Brian Somoza.

Sale of student housing community near University of Houston closes

Posted on by Mia Goulart

JLL Capital Markets closed the sale of Vue on MacGregor, a 117-unit / 347-bed student housing community near the University of Houston.

JLL worked on behalf of the seller, Trimont, LLC and procured the buyer, Axonic Properties, LLC.

Built in 2014, the 96.3% occupied property features fully furnished one-, two-, three-, four- and five-bedroom units ranging from 369 square feet to 1,128 square feet. The units include in-unit washers and dryers, stainless steel appliances and granite countertops. Community amenities include dedicated study rooms, a swimming pool, two fitness centers, a business center, free community-wide Wi-Fi and cable, dog park and prime views of downtown from an upper view deck.

Situated at 4460 South MacGregor Way, Vue on MacGregor is 0.5 miles from the University of Houston campus and a 15-minute drive from Downtown Houston, which features 52 million square feet of office space. The property is ideally set in a quiet enclave near MacGregor Park, a short walk or shuttle ride to classes and only a few miles from the light rail providing access to downtown. Both Griggs Road Shopping Center and The Trail Shopping Plaza are a five-minute drive from the property. Additionally, residents have easy access to the greater Houston metro via nearby Interstate 45.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Teddy Leatherman and Scott Clifton, Director Kevin Kazlow and Analyst Danielle Rice.