Wednesday, May 6, 2020

JLL completes sale of 3 East Texas apartment properties


Summer Brook Apartments, Longview, TX

DALLAS, TX,  May 6, 2020 – JLL Capital Markets announced today it has closed the sale of Summer Brook, Summer Green I & II and Summer Lake, three workforce multi-housing communities totaling 884 units in the East Texas community of Longview.

 JLL marketed the properties on behalf of the seller, BSR Real Estate Investment Trust.

Summer Green Apartments I and II, Londgview, TX

Monarch Investment & Management Group purchased Summer Brook and Summer Green I & II and Saxony Capital Management (“Saxony”) purchased Summer Lake.

JLL’s debt placement team also worked on Saxony’s behalf to secure a floating-rate loan for the acquisition of Summer Lake through Freddie Mac. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.

 Summer Brook is located at 2300 Bill Owens Parkway in the desirable North Longview submarket near major retail amenities, including Longview Mall and Longview Towne Crossing.

Summer Lake Apartments, Longview, TX
The 12.25-acre property includes a mix of 208 one-, two- and three-bedroom units averaging 855 square feet. 

Summer Brook features a resort-style swimming pool, grilling/picnic area, business center, 24-hour fitness center, reserved covered parking and available private garages, and direct access to the adjacent Paul G. Boorman Running Trail.

 Summer Green I & II is situated on 19.11 acres at 110 E. Hawkins Parkway. The two-phase community features a mix of 164 one-bedroom and 260 two-bedroom units averaging 905 square feet.

Greg Toro 
Community amenities include two resort-style swimming pools, a grilling/picnic area, basketball court, 24-hour fitness center, clubhouse, children’s playground, bark park with pet washing station, and a total of 720 parking 

Summer Lake is located at 3100 McCann Road on a 12.6-acre site adjacent to Longview Mall and Loop 281. Units include a mix of studio, one- and two-bedroom floor plans averaging 852 square feet.

Summer Lake features two resort-style pools, grilling area with pergolas, stocked fishing lake, lighted sports court, clubhouse, dog park and reserved covered parking.

 The JLL Capital Markets team representing the seller included Senior Director Greg Toro and Director Steven Hahn, Jr.

 JLL’s Capital Markets debt placement team assisting Saxony with acquisition financing for Summer Lake was led by Senior Managing Director Mark Brandenburg and Associate Chad Russell.

 Steven Hahn, Jr.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.


About BSR Real Estate Investment Trust

BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. 

The REIT owns a portfolio of multifamily garden-style residential properties located in attractive primary and secondary markets in the Sunbelt region of the United States.

Mark Brandenburg 
About Monarch Investment & Management Group:

Monarch Investment and Management Group ("Monarch") specializes in the acquisition and management of income-producing real estate, particularly multifamily apartment communities. 

Through these real estate investment vehicles, Monarch provides investors with the opportunity for quarterly income as well as an excellent long-term return on investment.

Unlike investment brokers or REITs (Real Estate Investment Trusts), Monarch remains part of the process all the way through conclusion. 

Chad Russell
The same people who approve the project are the ones who are actively involved in managing the property every day. 

Monarch is personally invested and highly committed to the success of the project at every phase. 

It is this unique and continuous involvement that separates Monarch from the competition and drives superior returns for its investors.

About Saxony Capital Management, LLC:

Saxony Capital Management was formed in 2016 as a boutique real estate investment and advisory firm based in Dallas, Texas. 

Saxony specializes in acquiring real estate assets that provide opportunity for value enhancement through reposition, market displacement, capital improvements and asset management expertise. Since formation, Saxony has purchased more than 2,100 units. 

Contact

Caroline Payan
Lee & Associates
(951) 276-3617
cpayan@lee-associates.com



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