$28M refinancing secured for a newly built senior living community in Spring, Texas
JLL Capital Markets led refinancing for The Landing at Augusta Woods
ORANGE COUNTY, Oct. 25, 2023 – JLL Capital Markets announced today that it arranged $28 million senior mortgage for The Landing at Augusta Woods, a 148-unit senior housing community in Spring, Texas.
JLL represented, Harmony Communities, to secure the four-year, fixed to floating rate loan from a Life Insurance Company to refinance an existing construction loan and fund additional expansion of the community.
The community is comprised of a 120-unit apartment-style complex that provides independent living, assisted living and memory care, and 28 to-be-built independent living duplex-style cottage units. The luxurious country club style facility is designed to immerse residents into an engaging community with resort-style amenities and best-in-class care services.
Spring, Texas is located just outside of The Woodlands, which is one of the nation’s premier master planned communities. It offers a unique blend of an urban neighborhood with suburban conveniences, which include prestigious residential communities and amenities. Situated on 28,000 acres, The Woodlands is located just 27 miles north of the Houston CBD and 15 minutes to the north of the George Bush Intercontinental Airport.
Over the last two decades, there has been a remarkable transformation in Houston, the nation’s fourth largest city. Houston has one of the youngest, fastest growing and most diverse populations anywhere in the world. From 2010 to 2018, Houston added 1.1 million residents, an 18.3% increase, the fastest rate of population growth among the 10 most populous U.S. metros.
The JLL Capital Markets Debt Advisory team was led by Senior Director Zane Sweet, Director Alanna Ellis and, Analysts Zach Brantley and Kyle White
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About Harmony Communities
Harmony Communities is dedicated to making home ownership affordable in communities that deliver premium value and enhanced lifestyles. For over 20 years, their management team has catered to the unique needs of residents. From first-time buyers to retirees, home-owners appreciate living in communities that offer professional on-site management, recreational amenities, and security, while providing exceptional housing values in desirable locations nationwide.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.