JLL arranges sale, financing of Houston multi-housing property

Alexan Enclave in West Houston’s Energy Corridor acquired by F&B Capital

October 31, 2019

HOUSTON, October 31, 2019 – JLL announced today that it has closed the sale and arranged financing of Alexan Enclave, a 354-unit, Class A multi-housing community located in West Houston’s Energy Corridor.

JLL marketed the property exclusively on behalf of the seller, Trammell Crow Residential and Cigna Investment Management. F&B Capital purchased the offering free and clear of existing financing. Additionally, JLL worked on behalf of the new owner to place the acquisition loan on their behalf.

Alexan Enclave is located at 13411 Briar Forest Drive across from Parkway Village, a 134,000-square-foot, Kroger-anchored community retail center. Completed in 2014, the mid-rise, wrap-style property is zoned to top-rated schools and is walking/biking distance to The Enclave, an 878-acre office park. Alexan Enclave consists of two four-story buildings and a six-story parking garage. Units average 909 square feet and feature open-concept floor plans and high-end finishes, including high ceilings, stainless steel appliances, granite countertops, hardwood cabinetry with under cabinet lighting, a blend of tile and plank flooring throughout, wood blinds, soaking tubs, walk-in closets, full-sized washers and dryers, and private patios or balconies. Community amenities include a resort-style pool with fountain feature, separate lap pool, shallow-water seating, covered outdoor kitchen, fire pit, enclosed dog park, pet wash station, large modern clubhouse, demonstration kitchen, business center, executive conference room and electric car charging station.

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Todd Marix and Chris Curry and Analyst Bailey Crowell.

“Alexan Enclave offers excellent long-term growth potential for new ownership,” Curry said. “The buyer was able to obtain a best-in-class, non-commodity asset below replacement cost in a strengthening Energy Corridor submarket, which currently has no new multi-housing units under construction. Fundamentals have been boosted by new leases and corporate expansions underway in the local office market.”

JLL’s Capital Markets debt placement team representing the new owner was led by Managing Director Cameron Cureton and Senior Managing Director Matt Kafka.

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.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

About JLL

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

About Trammell Crow Residential

Trammell Crow Residential (TCR) is a national multifamily real estate developer with a local presence in 13 key U.S. markets. Over 40 years, TCR has built over 250,000 premier multifamily residences, delivering amenity-rich communities in economically thriving locations nationwide. TCR and Crow Holdings Industrial (CHI) are part of the development platform of Crow Holdings, a privately-owned real estate investment and development firm with a 70-year history and a proven track record of performance, partnership, and innovation. For more information, please visit

About F&B Capital

F&B Capital was founded in 2010 by Hank Farrell III and Jason Berkowitz and is headquartered in Austin, Texas. F&B Capital is a real estate investment firm specializing in multifamily acquisitions and redevelopments throughout Texas. The firm currently operates in the greater Austin, Houston and San Antonio marketplaces.