DALLAS – JLL Capital Markets announced today it has closed the sale of Summer Brook, Summer Green I & II and Summer Lake, three workforce multi-housing communities totaling 884 units in the East Texas community of Longview.

JLL marketed the properties on behalf of the seller, BSR Real Estate Investment Trust. Monarch Investment & Management Group purchased Summer Brook and Summer Green I & II and Saxony Capital Management (“Saxony”) purchased Summer Lake. JLL’s debt placement team also worked on Saxony’s behalf to secure a floating-rate loan for the acquisition of Summer Lake through Freddie Mac. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender. 

Summer Brook is located at 2300 Bill Owens Parkway in the desirable North Longview submarket near major retail amenities, including Longview Mall and Longview Towne Crossing. The 12.25-acre property includes a mix of 208 one-, two- and three-bedroom units averaging 855 square feet. Summer Brook features a resort-style swimming pool, grilling/picnic area, business center, 24-hour fitness center, reserved covered parking and available private garages, and direct access to the adjacent Paul G. Boorman Running Trail.

Summer Green I & II is situated on 19.11 acres at 110 E. Hawkins Parkway. The two-phase community features a mix of 164 one-bedroom and 260 two-bedroom units averaging 905 square feet. Community amenities include two resort-style swimming pools, a grilling/picnic area, basketball court, 24-hour fitness center, clubhouse, children’s playground, bark park with pet washing station, and a total of 720 parking spaces.

Summer Lake is located at 3100 McCann Road on a 12.6-acre site adjacent to Longview Mall and Loop 281. Units include a mix of studio, one- and two-bedroom floor plans averaging 852 square feet. Summer Lake features two resort-style pools, grilling area with pergolas, stocked fishing lake, lighted sports court, clubhouse, dog park and reserved covered parking.

The JLL Capital Markets team representing the seller included Senior Director Greg Toro and Director Steven Hahn, Jr.

JLL’s Capital Markets debt placement team assisting Saxony with acquisition financing for Summer Lake was led by Senior Managing Director Mark Brandenburg and Associate Chad Russell.

DALLAS – JLL Capital Markets announced today that it has arranged financing for Arlington Park, a 252-unit, garden-style apartment community in West Mobile, Alabama.

JLL worked on behalf of the Dallas-headquartered borrower, Saxony Capital Management, LLC, to secure the three-year, floating-rate loan through The Bancorp, Inc.

Located at 7070 Grelot Road, Arlington Park is set on 20.68 acres just south of Airport Boulevard, one of the area’s most affluent locations with average household incomes of approximately $75,000 per year within one mile of the property. Originally constructed in 2001, the property consists of one-, two- and three-bedroom units averaging 1,166 square feet. The property has recently undergone renovations to the exterior and common areas, including new exterior paint and a completely remodeled clubhouse and fitness center. Other common area amenities include a saltwater pool with outdoor kitchen area, game room with billiards, bark park, car care center and available private one-car garages. The property was more than 96% occupied at closing.

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