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News release

Kingsville, Texas

JLL completes sale of Southeast Texas multifamily asset

Coastal Barcelona, LLC sells Barcelona Apartments


​​​​Kingsville, Texas, September 11, 2017 – JLL's Capital Markets experts today announced the sale of Barcelona Apartments, a multifamily community located in Kingsville, Texas, on behalf of Coastal Barcelona, LLC. Canopy Apartments, LLC, managed by 3CM Multifamily, purchased the 64-unit property located near the Texas coast. 

Managing Director Scott LaMontagne and Senior Vice President Zar Haro led the JLL team on the transaction.

"Barcelona Apartments is an extremely attractive multifamily investment poised for strong returns in a largely under-supplied area," said LaMontagne. "With strategic investments, the property is positioned to increase in value and benefit from future rent growth."

The new ownership group has announced major improvements are expected soon.

"We are completing extensive renovations and will be announcing the re-branding to Canopy Apartments later next month," said John Bollinger, President of 3CM Multifamily.

The eight-building, multifamily asset is located on the I-69 corridor, surrounded by many of Kingsville's major employers, including the Naval Air Station, Texas A&M University-Kingsville and Christus Spohn Hospital. The property is also a short drive away from Corpus Christi, one of region's most populated cities, largest employment hubs and popular tourist destinations.

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 a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $136 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.