August 24, 2020
JLL Capital Markets arranged financing for Hanover Southampton, a 206-unit rental apartment property community in Houston’s affluent West University neighborhood. Terms of the financing weren’t disclosed.
The JLL debt placement team representing the borrower was led by managing director Cortney Cole and director Dustin Selzer. They 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 offers more than 300 retailers and dining establishments.
Additionally, the property is convenient to Houston’s largest employment centers including Texas Medical Center, Greenway Plaza, Galleria and Downtown.
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