JLL Secures Acquisition Financing for S2 Capital
- Jan 15, 2018
JLL has secured financing for the acquisition of Oakland Hills Apartments, a 332-unit community in Fort Worth, Texas. The company arranged the loan for S2 Capital LLC through Benefit Street Partners.
Completed in 1988, the 52-building property occupies 25 acres at 807 Heights Drive, 15 minutes away from downtown Fort Worth. The building comprises a mix of one-, two- and three-bedroom units, averaging 873 square feet. Features of the apartments include private entry, private balcony or patio, above-standard ceiling heights. The communal areas feature amenities such as:
- swimming pool
- four laundry facilities
- 800 parking spaces
North Texas market growth
“Multifamily assets in North Texas are extremely attractive to investors right now given the level of job growth and strong economic fundamentals of the region,” mentioned Mark Brandenburg, managing director of JLL Capital Markets, in prepared remarks. Brandenburg led JLL’s team in the transaction, and in October 2017, together with Vice President CW Sheenan, he also secured acquisition financing for two San Antonio properties.
In addition, Brandenburg said, “As more companies make their way to Dallas-Fort Worth, demand for these types of product will continue to increase. We are thrilled to provide a financing solution for S2 Capital, and look forward to continuing our successful partnership.”
Image courtesy of Yardi Matrix