JLL Arranges Sale of Class A Houston-Area Community
- Apr 30, 2020
JLL Capital Markets has arranged the sale of The Loop, a 188-unit, Class A community in Conroe, Texas. Greg Austin, Chip Nash, Bob Heard, Chris Curry, Todd Marix, Chris Young, Joey Rippel and Kyle Whitney represented seller Apartment Advisors Inc. This month, the same team closed the sale of a 272-unit community in northern Houston.
According to public records, the new owner of The Loop is BCC Corp., which took out a 10-year, $16.2 million Fannie Mae loan to finance the purchase of the luxury asset. JLL’s Tim Leonhard, Mary Davis and Eric Hightower arranged the acquisition financing.
Built in 2017 at 3400 Loop 336, the property is 2 miles from Interstate 45, with several retail and dining options in the surrounding area, including Pine Hollow Shopping Center. The eight-building community consists of one-, two- and three-bedroom units, with stainless steel appliances and high-end finishes. Common-area amenities include a swimming pool, a dog park, a fitness center and two outdoor grilling stations. The Loop also has 424 parking spaces.