CHICAGO, IL - JLL Capital Markets announced today that it has arranged financing for Hanover Southampton, a 206-unit multi-housing community in Houston’s affluent West University neighborhood.
JLL worked on behalf of the developer, Hanover Company and State Farm, to secure the seven-year, fixed-rate loan through the Freddie Mac CME Program. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.
Completed in 2015, Hanover Southampton is located at 5122 Morningside Drive within walking distance to Houston’s most historic mixed-use urban development, Rice Village, which boasts over 300 retailers and dining establishments. Additionally, the property is proximate to Houston’s largest employment centers including Texas Medical Center, Greenway Plaza, Galleria and Downtown. The 95-percent-leased community offers 12 floors of living with units averaging 1,435 square feet each. Community amenities include a 10,000-square-foot rooftop resident amenity lounge, rooftop pool, 24-hour concierge, Technogym fitness club, outdoor grilling stations, private theatre, executive conference room, bike storage, valet dry cleaning services and pet-washing station.
The JLL debt placement team representing the borrower was led by Managing Director Cortney Cole and Director Dustin Selzer.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.