South TX Community Changes Hands
Seneca Investments sold Stoneleigh Harlingen, a 180-unit Rio Grande Valley asset. JLL Capital Markets brokered the transaction on behalf of the seller.
Leuven Group has acquired Stoneleigh Harlingen, a community located in the Rio Grande Valley of South Texas, from Seneca Investments Co.
The 180-unit multifamily property is located at 905 N. Loop 499 in Harlingen. The community is close to many of the area’s top employers and education institutions and offers quick access to retail and entertainment facilities.
Stoneleigh Harlingen was built in 2006 and consists of 15 two-story buildings located on a 10-acre parcel, according to Yardi Matrix data. Amenities include a fitness center, business center, swimming pool and 260 parking spaces. As of January, the property had an occupancy rate of 92.2 percent.
JLL Senior Vice Presidents Zar Haro and Moses Siller and Vice President Robert Arzola concluded the transaction on behalf of the seller.
“Stoneleigh Harlingen boasts unique value-add opportunities to solidify the property’s position as ‘best in class’ for the region,” said Haro, in a prepared statement.
Haro and Siller have also recently led the JLL Capital Markets team in charge of another Texas transaction, the sale of a 164-unit San Antonio community.
Image courtesy of Yardi Matrix