May 26, 2020
JLL Capital Markets closed the sale of Rayford Village, a 19,950-square-foot, fully leased retail center in the north Houston-area suburb of Spring. The capital markets team also arranged acquisition financing. Terms weren’t disclosed.
JLL marketed the properties on behalf of seller BNS Rayford Partners, LP. Working on behalf of the new owner, JLL placed the 10-year, fixed-rate acquisition loan with First Community Credit Union.
Rayford Village comprises two adjacent buildings that are home to a variety of national and local retailers, including Cole Veterinary Services, SK Salon, Goodwill, Pizza Hut, Papa John’s, DC Cleaners and Nail Bar. More than 64,500 residents earning an average annual household income of $114,757 live within a three-mile radius.
The JLL Retail Capital Markets team representing the seller was led by Ryan West, John Indelli and Katherine Miller. The debt placement team advising the new owner included Michael Johnson, Stuart Helper and Trey Pizzitola.
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