HOUSTON — JLL Capital Markets has arranged both the sale of and financing for The Gardens at Spring Shadows, a 384-unit independent living community in Houston’s Spring Branch submarket.
JLL served as the seller’s listing agent. Additionally, JLL’s debt placement team worked on the new owner’s behalf to arrange a three-year, floating-rate loan with two one-year extension options through Ready Capital. In addition to funding the acquisition, the balance of the loan will be used for the rehabilitation of the property.
The Gardens at Spring Shadows sits on 11.4 acres. The buyer, seller and price were not disclosed.
Chris Young, Joey Rippel and Bailey Crowell led the JLL Capital Markets investment advisory team representing the seller. Mark Brandenburg and Chad Russell led the debt placement team representing the new owner.