JLL arranges financing for Katy multi-housing community
Loan proceeds funded Hilltop Residential’s acquisition of the suburban Houston property
HOUSTON, January 15, 2020 – JLL Capital Markets announced today that it has arranged acquisition financing for a multi-housing community located in the Houston-area suburb of Katy, Texas.
JLL worked exclusively on behalf of Hilltop Residential to arrange the four-year, floating-rate acquisition loan through a national bank.
The community is situated on 14.44 acres along Grand Parkway. Completed in 2013, the community consists of a mix of one-, two- and three-bedroom homes averaging 933 square feet. Units feature stainless steel appliances, granite countertops, kitchen islands, nine-foot ceilings, wood-style flooring and private balconies. Community amenities include a resort-style pool, clubhouse, 24-hour fitness center, business center, resident long with TV and coffee bar, and lighted dog park with fountain. The community is zoned to top-rated Katy Independent School District campuses.
The JLL Capital Markets debt placement team representing the borrower was led by Managing Director Cortney Cole.
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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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 Hilltop Residential
Headquartered in Houston, Hilltop Residential provides investors with tax-deferred income and capital appreciation by acquiring and renovating multi-family properties located in the southern United States. Hilltop invests in cities and neighborhoods with strong demographics and positive employment growth. For more information, visit livehilltop.com.