JLL secures acquisition financing for Houston multifamily asset
REEP Equity and Hashem Holdings acquire Candleridge Park Apartments
HOUSTON, August 27, 2019 – JLL has secured the acquisition financing for Candleridge Park Apartments in Houston, the firm announced today. The recently renovated, 128-unit multifamily property is located at 1601 Wooded Pine Drive.
JLL Managing Director Mark Brandenburg and Senior Vice President CW Sheehan secured the financing on behalf of REEP Equity and Hashem Holdings. Fannie Mae provided the loan.
“Houston is one of the hottest markets in the US for multifamily investors,” said Sheehan. “The rental market remains strong thanks to a thriving energy sector, significant job gains, and population increases which has given way to increased rental rates and returns for investors as vacancies continue to lessen. Candleridge Park’s central location and accessibility to employers provides a fantastic investment opportunity for the new owners.”
Onsite amenities include a swimming pool, outdoor kitchen, business center, playground and dog park.
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