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Located Near Demand Drivers, MF Wins With Investors

SAN ANTONIO, TX—An $18 million loan has been provided by LegacyTexas for the acquisition and rehabilitation financing for Churchill Park Apartments, a 392-unit gated apartment community.

By Lisa Brown | lisabrown | | Updated on February 16, 2016
Churchill Park Apartments The apartment community consists of 31 two- and three-story buildings.
SAN ANTONIO, TX—With record job and population growth, the multifamily sector shows no signs of throttling back any time soon. To support that record pace, an $18 million loan has been provided by LegacyTexas for the acquisition and rehabilitation financing for Churchill Park Apartments , a 392-unit gated apartment community. The loan was secured on behalf of Frontline Capital Partners , with JLL’s capital markets team leading the loan acquisition efforts. Executive vice president, Mark Brandenburg , led the JLL team on the transaction. Brandenburg tells GlobeSt.com: “As the multifamily sector continues to show no signs of slowing down its record pace, investors are seeing value-add opportunities as more and more valuable, specifically in markets such as San Antonio that have proven records of job and population growth.” The apartment community consists of 31 two- and three-story buildings and also features a fitness center, two swimming pools, a large park and a barbecue area. The property is located near the area’s major high systems, major employers and retail options. “We quickly got comfortable with the new borrower relationship due to their prior proven performance and experience in the submarket,” adds Ross Lyle , senior vice president at LegacyTexas. JLL capital markets group is a provider of capital solutions for real estate investors and occupiers. The firm’s local market and global investor knowledge provides solutions for sales, financing, repositioning, advisory or recapitalization execution. In 2015, the group completed $140 billion in investment sale and debt and equity transactions globally. The firm’s capital markets team comprises more than 2,000 specialists. “Churchill Park Apartments is centrally located near the market’s demand drivers and combined with its value-add potential, it made for a very compelling opportunity among lenders,” said Brandenburg.  

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