$255M credit facility arranged for diversified single-family rental portfolio located across Texas
JLL Capital Markets secured the financing for homes located in Houston, Bryan/College Station, Dallas-Fort Worth and San Antonio
HOUSTON, Jul. 13, 2023 – JLL Capital Markets announced today that it 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.
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.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Launched in 2012, SimplyHome pioneered the Built-to-Rent (BTR) industry. As a member of Camillo Companies, and with a foundation in land development and construction, SimplyHome is vertically integrated from land acquisition through property management. We build, manage, and maintain single-family homes for rent-it’s that simple. SimplyHome has grown to over 10,000 SFR homes across more than 100 neighborhoods, servicing over 50,000 residents, making us one of the largest SFR operators in the nation. Inspired by our purpose to OPEN DOORS, we focus on expanding access to opportunity, creating value and providing a simple process to find a place to call home. SimplyHome is headquartered in Houston, Texas with additional properties located across Dallas-Fort Worth, San Antonio and College Station, Texas. For more information, visit www.simplyrent.com.
About Churchill Real Estate
Churchill Real Estate ("Churchill") is a vertically integrated real estate investment firm that as of March 31, 2023, manages over $7 billion in assets on behalf of a global institutional investor base. Churchill provides a diverse suite of products and services to originators, aggregators, and capital providers in the residential lending sector. The firm’s core lending products include lender finance, short-term bridge and residential transitional loans (RTL), as well as ground-up and transitional multifamily loans. Churchill was founded in 2014 to capitalize on bespoke, point-in-time opportunities throughout real estate market cycles with a primary focus on downside protection while seeking to optimize risk-adjusted returns. Churchill's value proposition is centered around the experience of its management team and proprietary technology platforms. For more information, visit churchillre.com.