JLL secures acquisition financing for Houston multifamily asset

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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