JLL closes sale, financing of Northwest Houston apartments
Garden-style multi-housing property in Champions Forest trades
HOUSTON, November 12, 2019 – JLL announced today that it has closed the sale and arranged acquisition financing for Champions Woods Apartments, a 186-unit, garden-style multi-housing community in Northwest Houston.
JLL marketed the property exclusively on behalf of the seller, Venterra Realty. Haven Realty Capital purchased the offering. Additionally, JLL worked on behalf of the new owner to place the 10-year, floating-rate loan with Freddie Mac. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.
Champions Woods Apartments is located at 6830 Champions Plaza Drive near the intersection of Highway 249 and FM 1960 near Willowbrook Mall. The property features eight spacious floor plans totaling 162,936 rentable square feet within 10 three-story, walk-up residential buildings. Units feature fully equipped kitchens, separate dining areas, garden tubs, built-in shelving, large walk-in closets and private balconies. Premium units also include luxury lighting, wood-style flooring and fireplaces. Community amenities include a swimming pool with waterfall, hot tub, outdoor entertainment pavilion with grilling area, renovated fitness center and cybercafé with Wi-Fi.
The JLL Capital Markets team representing the seller was led by Vice President Bob Heard and Managing Directors Chip Nash and Greg Austin.
JLL’s Capital Markets debt placement team representing the new owner was led by Senior Vice President James Brolan.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Agency/GSE lending and loan servicing are performed by Jones Lang LaSalle Multifamily, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Haven Realty Capital, LLC
Haven Realty Capital is a real estate investment firm that specializes in the acquisition, renovation, leasing and management of rental housing units across the United States. Since 2010, Haven has owned and operated over 2,000 single-family rental units in Southern California, Nevada and Illinois, and has managed an additional 10,000 single-family rental homes in Arizona, Texas and Georgia. In addition to the single-family rental investment and management business, Haven also owns and asset manages multifamily assets totaling approximately 2,500 units and valued in excess of $500 million in Nevada, Utah, Texas, Washington, Idaho and Minnesota.