JLL Capital Markets completes sale of Class A, HUD-financed Central Texas multifamily asset

Hayden Properties, LLC acquires luxury apartment community in San Marcos

April 08, 2019

AUSTIN, April 8, 2019 – JLL Capital Markets experts announced today the successful sale of 1271 San Marcos, a 240-unit, Class A, HUD-financed multifamily property located in San Marcos, Texas, approximately 32 miles south of downtown Austin.

JLL Managing Directors Greg Austin and Scott LaMontagne lead the sales and marketing efforts on behalf of the sellers, Covenant Development and Parkcrest Builders, LLC. The property was acquired by Hayden Properties, LLC.

"The government shutdown added a layer of complexity to the HUD loan assumption on this transaction,” said Matt Reynolds, Director of Asset Management, Hayden Properties, LLC. “Both JLL and the selling party were fantastic during the process in helping us overcome this hurdle."

The recently constructed, luxury apartment community features eight, three-story apartment buildings, a resort-style pool, two outdoor grilling stations, a state-of-the-art fitness center, an outdoor entertainment pavilion and a dog park for residents across nearly 11 acres.

“Investor activity in multifamily product across Texas continues to sell and trade at an almost historic rate,” said Austin. “Luxury assets like 1271 San Marcos, which delivers best-in-class offerings in a region projected to see continued growth, offer investors both immediate and long-term returns. There’s just never been a better time to invest in commercial real estate in our state.”

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. In 2017 alone, the firm’s 2,400 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.

For more, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more content including videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.AUSTIN, April 8, 2019 – JLL Capital Markets experts announced today the successful sale of 1271 San Marcos, a 240-unit, Class A, HUD-financed multifamily property located in San Marcos, Texas, approximately 32 miles south of downtown Austin.

JLL Managing Directors Greg Austin and Scott LaMontagne lead the sales and marketing efforts on behalf of the sellers, Covenant Development and Parkcrest Builders, LLC. The property was acquired by Hayden Properties, LLC.

"The government shutdown added a layer of complexity to the HUD loan assumption on this transaction,” said Matt Reynolds, Director of Asset Management, Hayden Properties, LLC. “Both JLL and the selling party were fantastic during the process in helping us overcome this hurdle."

The recently constructed, luxury apartment community features eight, three-story apartment buildings, a resort-style pool, two outdoor grilling stations, a state-of-the-art fitness center, an outdoor entertainment pavilion and a dog park for residents across nearly 11 acres.

“Investor activity in multifamily product across Texas continues to sell and trade at an almost historic rate,” said Austin. “Luxury assets like 1271 San Marcos, which delivers best-in-class offerings in a region projected to see continued growth, offer investors both immediate and long-term returns. There’s just never been a better time to invest in commercial real estate in our state.”

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. In 2017 alone, the firm’s 2,400 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.

For more, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

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


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 over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com