Texas-based investment group acquires Knoxville multifamily assets

KNOXVILLE, TN, September 4, 2019 – JLL Capital Markets experts successfully secured the acquisition financing for neighboring Knoxville, Tennessee apartment communities, the commercial real estate firm announced today. The Canyon, located at 600 East Inskip Drive, and Knox Landing, located at 634 East Inskip Drive, were acquired by Texas-based GVA Real Estate Group. Freddie Mac provided the loan.

JLL Capital Markets Managing Director Mark Brandenburg secured the financing on behalf of the investment group.

“The Canyon and Knox Landing offer positive immediate and long-term returns for GVA Real Estate Group,” said Brandenburg. “Steady job gains and projected income growth for the region are driving investor interest in value-add multifamily product across the area.”

The acquisition totals 193 apartment units across 16 buildings between the two multifamily properties.

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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