SPRING, Texas — JLL Capital Markets has arranged a $28 million senior mortgage for The Landing at Augusta Woods, a 148-unit seniors housing community in Spring.
JLL represented Harmony Communities to secure the four-year, fixed-to-floating-rate loan from a life insurance company to refinance an existing construction loan and fund additional expansion of the community.
The community comprises a 120-unit apartment-style complex that provides independent living, assisted living and memory care, and 28 to-be-built independent living duplex-style cottage units.
Spring is located just outside of The Woodlands, which is one of the nation’s premier master-planned communities. Situated on 28,000 acres, The Woodlands is located 27 miles north of the Houston CBD.
Over the last two decades, there has been a remarkable transformation in Houston, the nation’s fourth largest city, according to JLL. From 2010 to 2018, Houston added 1.1 million residents, an 18.3 percent increase, the fastest rate of population growth among the 10 most populous U.S. metros.
Zane Sweet, Alanna Ellis, Zach Brantley and Kyle White led the JLL team.