Value-add multifamily asset in Lockhart, Texas changes hands
JLL completes sale of Whispering Oaks
AUSTIN, August 12, 2019 – JLL announced the successful sale of Whispering Oaks in Lockhart, Texas to The Seay Group, LLC today. The 54-unit, 10-building apartment community is located at 1320 Wilson Street, approximately 30 miles southeast of Austin.
JLL’s Richard Mireles, Moses Siller and Zar Haro led the marketing and sales efforts on behalf of the seller, Barker Investments. Ron Seay the Broker/Owner of The Seay Group, LLC is a local multifamily investment company.
“Both the seller and buyer were great to work with throughout the transaction,” said Mireles. “We are thankful to all who expressed interest and submitted offers. Value-add opportunities like Whispering Oaks are seeing great interest from prospective buyers and investors.”
Lockhart’s Economic Development Corporation (EDC) anticipates an additional 10,000 residents through relocation or birth over the next five years, a staggering increase of nearly 75%. Residents in the larger Lockhart ISD area jumped by 13% over the past five years to 26,800.
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 over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.