JLL Capital Markets led the financing for Hanover Southampton located in the city’s West University neighborhood

HOUSTON, August 20, 2020 – 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 delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license. 

HOUSTON, September 4, 2019 – JLL announced today it has arranged joint venture equity for The Hanover Company’s 412-unit apartment development with ground-floor retail in Northern Virginia’s Tysons Corner submarket.

JLL worked on behalf of The Hanover Company to arrange the joint venture equity partnership with PCCP, LLC.

The property will be situated on a 5.86-acre site at 1500 Westbranch Drive near major area employers and more than six million square feet of retail in the surrounding area. In addition, the transit-oriented development will provide access to the Capital Beltway, the 495 Express Lanes, the Dulles Toll Road and Metrorail’s Silver Line. The six-story property will encompass a mix of 343 market-rate and 69 affordable units, which will average 889 square feet, along with nearly 3,000 square feet of ground-floor retail and 596 residential parking spaces. The project will feature best-in-class unit finishes and common area amenities, including a professionally landscaped courtyard with resort-style pool, firepit and grilling area; clubhouse with demonstration kitchen and multimedia area equipped with a cinema with stadium seating, gaming activities and televisions; fitness center and business/conference rooms. Completion is expected in late 2021.

The JLL Capital Markets team representing the sponsor was led by Managing Directors Cortney Cole, Brian Crivella and Walter Coker.

WASHINGTON, D.C. – May 6, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of Hanover Shady Grove, a 366-unit, transit-oriented, mid-rise apartment community in Rockville, Maryland.

HFF marketed the property exclusively on behalf of the seller, Hanover Company and Berkshire Residential Investments, and procured the buyer, Equity Residential.

Hanover Shady Grove is located at 9305 Corporate Boulevard within the I-270 Bio Corridor, one of the country’s most prominent hubs for medical research, testing and development.  Adjacent to Interstate 270 and within a mile of Interstate 370/Maryland Route 200, the community provides connectivity to downtown Rockville, Bethesda and Washington, D.C. to the south and Gaithersburg and Germantown to the north.  Additionally, Hanover Shady Grove offers access to the Washington, D.C. Metro’s Red Line via the nearby Shady Grove Metro Station to the east and to commuter rail service via the nearby MARC Brunswick Line to the southeast.

Completed in 2016, the five-story property consists of a mix of studio through three-bedroom units averaging 970 square feet.  Units feature gourmet kitchens equipped with stainless steel appliances, granite countertops and stone backsplashes as well as wood flooring, spa-like baths, high ceilings and in-unit washers and dryers.  Community amenities include a resort-style pool, outdoor dining/grilling areas, 24-hour Technogym fitness club, private media room, executive conference and dining room, catering kitchen, on-property Civic Green Park, designated walking paths and a controlled-access parking garage.  The property was 95 percent occupied at closing.

The HFF investment advisory team was led by Walter Coker and Brian Crivella along with Stephen Conley, a licensed Maryland real estate broker.

Hanover Valley Forge Apartments NOW OPEN

Houston-based real estate developer, Hanover Company, has brought its signature designer residential apartment homes to the flourishing King of Prussia district. Hanover Valley Forge, Hanover’s latest luxury residence, is located at 300 Village Drive and offers residents unique amenities and premium convenience with direct access to the brand new King of Prussia Town Center, a pedestrian-friendly outdoor shopping and dining village.

Hanover Valley Forge residents are able to take advantage of their walking distance to King of Prussia Town Center, which features 300,000 square feet of retail space occupied by grocery giant Wegmans, as well as LA Fitness, REI, Ulta, and a host of dining establishments, including Davio’s, Paladar, Founding Farmers, and City Works. Hanover Valley Forge also benefits from its close proximity to the iconic King of Prussia Mall, the largest shopping mall on the East Coast. Hanover’s Adam Harbin says the company chose the King of Prussia site because “it presents the rare opportunity to deliver Hanover-caliber product in a submarket that is virtually devoid of it, despite having many demand drivers, including robust demographics and a convenient nexus to transportation, employment, and entertainment options.”

King of Prussia is currently experiencing a wave of new residents to the area due to its exceptional access to employment, retail, dining and recreational opportunities within the suburban Philadelphia region. Hanover Valley Forge offers spacious studio, one, and two-bedroom apartments with exclusive features that include the following:

• Expansive residents’ clubhouse with 24-hour gym plus yoga and TRX room, cyber lounge, and private media room;
• Landscaped courtyards with pool and outdoor grills and dining areas;
• Designer kitchens featuring stainless steel appliances and granite countertops;
• Luxury finishes such as frameless cabinetry, expansive windows, granite slab and quartz countertops, and 9’ soaring ceilings.

Valley Forge is now open and leasing at 300 Village Drive, King of Prussia, PA 19406. For residential leasing information, visit http://www.hanovervalleyforge.com or call (267) 544-1632.