212-home, mid-rise Eitel Apartments features a downtown location and stunning views of Loring Park

CHICAGO, January 22, 2020 – JLL Capital Markets announced today that it has closed the sale of Eitel Apartments, a 212-home, mid-rise apartment property overlooking Loring Park in downtown Minneapolis, Minnesota.

JLL marketed the property exclusively on behalf of a confidential seller and procured an institutional buyer.

Eitel Apartments is located at 1367 Willow Street and has been awarded a Walk Score® of 92 given its     proximity to employers, retail and recreation amenities in the CBD. The live-work-play community consists of three buildings – one of which is a repurposed historic building that formerly served Eitel Hospital – that encompass a mix of studio, convertible, one- and two-bedroom units averaging 800 square feet. Community amenities include a rooftop deck, sky lounge, fitness center, yoga studio, billiards room, sauna and a heated two-level subterranean parking garage. The property was 90% occupied at closing.

The JLL Capital Markets team representing the seller was led by Executive Managing Director Matthew Lawton; Director Kevin Girard; Senior Director Wick Kirby; and Senior Vice Presidents Josh Talberg, Dan Linnell and Mox Gunderson.

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.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

HOUSTON – JLL Capital Markets announced today that it has closed the sale of The Beacon at Buffalo Pointe, a recently completed, 281-unit, Class A+ apartment community near the Texas Medical Center.

JLL marketed the property exclusively on behalf of the seller, Allied Orion Group, and procured the buyer, Morgan Group, Inc.

The Beacon at Buffalo Pointe is situated on 32.4 acres at 10301 Buffalo Speedway within five minutes of METRORail’s Red Line and 10 minutes from the Texas Medical Center, which is the worlds’ largest medical complex and the 8th largest central business district in the U.S. Completed in 2017, the four-story, mid-rise property consists of one-, two- and three-bedroom units averaging 862 square feet and 484 parking spaces. The best-in-class community includes high-end finishes in all homes and numerous common area amenities, including a resort-style pool with fountain, in-pool seating, a sundeck and four poolside cabanas; outdoor grilling area; state-of-the-art fitness center; clubroom with demonstration kitchen and coffee bar; dog park with wash station and water fountain; electric car charging station; reserved garage parking available; and concierge service.

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Chris Curry and Todd Marix and Analyst Bailey Crowell.

HOUSTON – JLL Capital Markets announced today that it has arranged acquisition financing for a multi-housing community located in the Houston-area suburb of Katy, Texas.

JLL worked exclusively on behalf of Hilltop Residential to arrange the four-year, floating-rate acquisition loan through a national bank.

The community is situated on 14.44 acres along Grand Parkway. Completed in 2013, the community consists of a mix of one-, two- and three-bedroom homes averaging 933 square feet. Units feature stainless steel appliances, granite countertops, kitchen islands, nine-foot ceilings, wood-style flooring and private balconies. Community amenities include a resort-style pool, clubhouse, 24-hour fitness center, business center, resident long with TV and coffee bar, and lighted dog park with fountain. The community is zoned to top-rated Katy Independent School District campuses.

The JLL Capital Markets debt placement team representing the borrower was led by Managing Director Cortney Cole.

CHICAGO – JLL Capital Markets announced today that it has closed the sale of Lakeside Student Living, an award-winning, 504-bed, purpose-built student housing community serving students of Mississippi State University in Starkville.

JLL marketed the portfolio exclusively on behalf of the seller to an undisclosed buyer.

Lakeside Student Living is located at 1300 Old Highway 12 along a vast stretch of lakefront less than five miles southwest of campus. Completed in 2006, the community comprises a mix of studio, one-, two- and four-bedroom layouts averaging 1,068 square feet along with 505 parking spaces. In addition to scenic waterfront views, the community also offers a wide variety of community and in-unit amenities, including a comprehensive fitness complex, pool, volleyball court, hammock beach, computer lab, private study lounges, in-unit laundry rooms, fully furnished living spaces and 100% bed-bath parity in all units. The property is 98% occupied for the current semester.

The JLL Capital Markets investment advisory team representing the seller included Directors Scott Clifton and Stewart Hayes along with Senior Managing Director Barry Brown.

HOUSTON – JLL Capital Markets announced today that it has arranged acquisition financing for a multi-housing community located in the Fort Worth suburb of Mansfield, Texas.

JLL worked exclusively on behalf of Hilltop Residential to arrange the four-year, interest-only, fixed-rate acquisition loan through a life insurance correspondent lender.

The community was completed in two phases in 2015 and 2017. The property, which is equidistant between downtown Fort Worth and Dallas, is situated along the newly expanded State Highway 360 near Lake Prairie Town Crossing, Grand Prairie Premium Outlets, Arlington Highlands and The Parks at Arlington. Residential units average 962 square feet and feature granite countertops, stainless steel appliances, kitchen islands, plank flooring, full-size washer and dryer connections and pet yards in select homes. Community amenities include a resort-style swimming pool, outdoor lounge, state-of-the-art fitness center, yoga room, dog park and available private garages.

The JLL Capital Markets debt placement team representing the borrower included Managing Directors Cortney Cole and Steve Heldenfels.

DALLAS – JLL Capital Markets announced today that it has arranged acquisition financing for Jemison Flats, a historic, seven-story, 59-unit apartment building in downtown Birmingham, Alabama.

JLL worked on behalf of the borrower, Highland Real Estate Capital, to secure the three-year, floating-rate loan through Bridge Investment Group.

Jemison Flats is located at 1827 1st Avenue in Birmingham’s Theater District. The property is also two blocks from Railroad Park, Regions Ball Park and the freshly renovated Powell Avenue Steam Plant. Originally completed in 1928, the recently renovated building includes a mix of studio and loft-style apartments that offer dramatic views of downtown and South Side. Units feature original hardwood floors, exposed beam ceilings, stainless steel appliances, concrete countertops and in-unit washers and dryers. Common area amenities include a fitness center, gated private park with grilling area and parking deck.

The JLL Capital Markets team representing the borrower was led by Managing Director Mark Brandenburg and Associate Chad Russell.