JLL Capital Markets closed the sale of the 200-unit The Remington multi-housing community to GPI Investment LLC and arranged acquisition financing in Killeen, TX

 

 Nicole Fontaine

AUSTIN, TX – JLL Capital Markets announced it has closed the sale of and arranged acquisition financing for The Remington, a 200-unit, garden-style multi-housing community in the central Texas city of Killeen, Texas.

The Remington, a 200-unit, garden-style
 multi-housing community in the
central Texas city of Killeen, TX

 JLL marketed the property on behalf of the seller, NALS Apartments Homes. JLL worked on behalf of GPI Real Estate Opportunity Fund to originate the Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. 

Sean Sorrell

The Remington comprises one- and two-bedroom units ranging from 450 to 1,100 square feet. Units feature a ceiling fan, separate dining area and private patio/balcony with storage closets.

Select units feature a full-size washer and dryer, upgraded faux wood flooring and wood-burning fireplace. Community amenities include a seasonal swimming pool and sundeck, fitness center, off-leash dog park, car wash area, barbeque grills, business center and laundry facility.

 

Located at 1001 North Twin Creek Dr., The Remington is approximately 60 miles north of Austin, 50 miles southwest of Waco and 10 miles southwest of Temple in central Texas.

Steven Hahn Jr.

The property is just north of heavily traveled thoroughfares Highway 190 and Interstate 14, providing residents ease of access throughout Killeen and to nearby employment hubs. 

Just 15 minutes from the property is Killeen’s western neighbor, Fort Hood, the largest U.S. Army base in the world.

 There are currently 45,000 military personnel assigned to Fort Hood, with a civilian workforce over 20,000.

 Other major employers in the Killeen-Temple-Fort Hood MSA include the Scott & White Memorial Hospital, McLane Company, Killeen ISD, Texas A&M University-Central Texas, Metroplex Health System, City of Killeen, Atmos Energy, Westar Aerospace, Bell Glass, L-3 Communications, Pactiv Corporation and Wilsonart International.

Art Barnes

The JLL Capital Markets Investment Sales Advisory team representing the seller included Senior Managing Director Sean Sorrell, Senior Director Steven Hahn Jr., Director Art Barnes and Senior Directors Ryan McBride and Joe Dowdle. Analysts for the JLL team included Nicole Fontaine and Sam Nichols.

 The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Director CW Sheehan and analysts Matthew Ctvrtlik and Scott Dickey.

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.

Ryan McBride

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

  

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

 

About GPI Real Estate Opportunity Fund

 

GPI Real Estate Opportunity Fund is a private equity real estate investment fund focused on acquiring value-add and distressed assets.

Joe Dowdle

Through active management, the Fund will seek to invest in assets that provide the Fund with stable rental income and substantial capital appreciation.

 

The Fund is sponsored by GPI Capital which has over 12 years of experience in commercial real estate investment.

 

GPI Capital has invested in over 6,900 units of multifamily properties, one full-service hotel and three student housings.

 

Headquartered in Houston, Texas, GPI Capital is a vertically integrated real estate investment and management firm with complex understandings of acquisitions, asset management, and property management.

 

Sam Nichols

About NALS Apartments Homes

NALS Apartment Homes is a fully integrated real estate investment firm engaged in the acquisition, ownership, management, and rehabilitation of multifamily apartment communities. 

Headquartered in Santa Barbara, Calif., NALS owns and manages over 15,000 apartment homes geographically dispersed across 15 different markets.

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

CW Sheehan

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021.

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

 

 

 

  

CONTACT:

  Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

gpi-investment.com.