JLL Capital Markets arranged the sale and Freddie Mac acquisition loan for Covenant Capital Group  

SAN ANTONIO, August 5, 2020 – JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for the Park at Rialto, a newly constructed, 274-unit, garden-style multi-housing community built by GenCap Partners, Inc. in the northwest part of San Antonio, Texas. 

JLL worked on behalf of Covenant Capital Group, to secure the seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo℠ lender. Covenant Capital Group purchased the asset from GenCap Partners, Inc., in a JLL-brokered transaction. 

Park at Rialto was constructed in 2018 and offers an urban lifestyle due to its proximity to major employment hubs, retail, entertainment and recreational amenities. The community, with an average unit size of 882 square feet, is situated on 9.3 acres and is National Green Building Standard certified. 

“The central Texas markets like San Antonio and Austin are very attractive investment markets right now, and we are seeing growing demand for not only new apartments but investors willing to invest in this growth,” says Gary Williams, CFO of GenCap Partners, Inc. “That is why we have three new starts in these growing suburban areas.”  

The JLL Capital Markets team that led the financing efforts on behalf of the borrower was led by Senior Director CW Sheehan and Analysts Alastair Barnes and Scott Dickey. The JLL Capital Markets team representing the seller was led by Senior Managing Director Sean Sorrell.   

“Park at Rialto is a great acquisition for Covenant Capital Group, as they expand their portfolio in Texas,” Sheehan added. “The property offers excellent access to major employers and will benefit from the continued growth between Boerne and San Antonio.”   

ALLIED ORION SELECTED TO MANAGE PARK AT ESTANCIA AND PARK AT CRYSTAL FALLS 

Firm Adds Nearly 800 Units to its Growing Portfolio in the Austin Metropolitan Area 

Allied Orion Group has been selected to manage Park at Estancia in Austin and Park at Crystal Falls in Leander, TX, adding nearly 800 newly constructed, Class A units to its expanding portfolio in the Austin Metropolitan Area.  

Located at 820 Camino Vaquero Parkway near I-35 in Austin, Park at Estancia is a new luxury community located within the master-planned Estancia Hill Country development that offers residents an easy commute to downtown Austin and around the city.  A variety of 23 floorplan options are available, ranging from one to three bedrooms and approximately 656 to 1,424 square feet of living space.  Apartment features include: Hill Country views, wood-style flooring, gourmet kitchens with granite countertops, designer backsplashes, 42-inch hardwood kitchen cabinets, EnergyStar stainless steel appliances, undermount single-bowl stainless steel sinks, under-cabinet kitchen lighting, full-size washers and dryers, nine-foot ceilings, spacious walk-in closets, brushed nickel fixtures, high-speed internet, built-in USB outlets, as well as private yards in select units. 
         Park at Estancia offers a multitude of amenities, including an ultra-modern fitness center with Peloton bikes and full range of free weights, indoor yoga studio, outdoor yoga area, resort-style swimming pool with a plaza and fireside lounge, golf simulator, outdoor grilling areas, electric vehicle charging stations, carports, package lockers, social station, beer garden, leash-free Bark Park, clubhouse with game room, and attached private garages. 

         Park at Crystal Falls is located at 7740 183A Toll Road in Leander, TX.  The new, premier community features one, two and three-bedroom floor plan options, ranging from 576 –1,446 square feet.  Apartments include the following features: granite countertops, stainless steel appliance packages, chef-inspired kitchen islands, glass tile backsplashes, wood-style flooring, modern pendant lighting, washers and dryers, spacious walk-in closets, high-speed internet, built-in USB outlets, and outdoor terraces. Private fenced-in yards, pool views, and attached garages with tandem parking are available in some units. 

         Residents at Park at Crystal Falls have access to a resort-style pool and lazy river, outdoor kitchen and picnic area, 24-hour fitness center with free weights and cardio theatre, yoga and virtual group fitness studio, modern clubhouse, game room, business lounge, two leash-free Bark Parks, package service, additional private storage space options and carports. 

         Park at Estancia and Park at Crystal Falls are owned by GenCap Partners, Inc. “We are very excited to embark on our management partnership with GenCap Partners, Inc,” said Loyal Proffitt, President of Allied Orion Group. “These are great communities, and we look forward to deepening our presence in the Austin Market as we continue to expand our portfolio throughout Texas.”