East Texas value-add multifamily asset attracts new owner
JLL Capital Markets experts complete sale of Tree House Apartments in Longview
DALLAS, August 13, 2019 – JLL announced today the successful sale of Tree House Apartments in Longview, Texas, located 120 miles east of Dallas. The 172-unit, 8.25-acre apartment community, which is located at 600 W. Avalon Avenue, was acquired by Brugge Properties.
JLL Capital Markets experts Moses Siller, Zar Haro and David Fersing represented the seller, Longview Treehouse LLC, in the sale.
“Brugge Properties’ acquisition of Tree House Apartments is the latest example of investor demand for value-add multifamily opportunities in Texas thanks to our strong economic fundamentals and state’s continued population growth,” said Siller. “With strategic capital investments, the property is in a great position to provide new ownership great long-term returns. This was a tremendous deal for all parties involved and we’re proud to have played a role in its successful transition.”
Current amenities include a resident clubhouse, on-site laundry facilities, playground and a resort style swimming pool.
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. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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 nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.