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| 1218 Jackson Apartments, Montrose Neighborhood, Houston, TX |
HOUSTON, TX – April 5,
2018 – Holliday Fenoglio Fowler, L.P. (HFF)
announces financing for 1218 Jackson, a recently renovated, 26-unit,
garden-style apartment complex in Houston’s Montrose neighborhood.
The HFF team
worked on behalf of Jackson Complex LLC to arrange a seven-year, fixed-rate
Freddie Mac small balance loan. The borrower has been investing in
apartments and other commercial properties in the Midtown and Montrose
neighborhoods for several years.
1218 Jackson is
situated just off Waugh Drive to the west of Montrose Boulevard. The
property’s central Houston location places it near multiple dining,
entertainment and lifestyle amenities in the immediate and surrounding
neighborhoods.
Originally constructed in 1962, the
three-building property underwent a complete renovation in 2016. 1218
Jackson comprises 25 one-bedroom units and one two-bedroom unit, each
containing in-unit washers and dryers. The property is 100 percent
occupied.
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| Kelly Layne |
The HFF debt placement
team representing the borrower included senior director Kelly Layne.
“Smaller garden-style
apartments in the Midtown and Montrose neighborhoods are vanishing at a rapid
pace making way for townhouse development and larger Class A apartment
complexes,” Layne said.
“As a result, affordable workforce housing proximate to downtown is in short supply and demand is high since young professionals working downtown and in the Greenway area are choosing to live close to work within the Inner Loop’s walkable, amenity-rich neighborhoods.”
“As a result, affordable workforce housing proximate to downtown is in short supply and demand is high since young professionals working downtown and in the Greenway area are choosing to live close to work within the Inner Loop’s walkable, amenity-rich neighborhoods.”
For more information, please contact:
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
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