Hanover Co. And Lionstone Investments Secure $176 Million Refinance From KKR For Multifamily Properties

Two luxury multifamily communities located at 811 Buffalo Park Drive and 3737 Cogdell Street in Houston secured refinancing. The properties, known as Hanover Autry Park and Hanover Parkview, have a total of 745 units and are nearly fully occupied. They also feature ground-floor retail space and extensive amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $176,000,000
• Lender: KKR
• Landlord: Hanover Co. & Lionstone Investments
• Brokers: Colby Mueck, Cortney Cole, Laura Brown, Davis Burnett & Scot Sarlin - JLL
• Loan Type: Refinance
• Loan Terms: five-year, fixed-rate

JLL Capital Markets facilitated the arrangement of the five-year, fixed-rate loans for the refinancing of the properties. The deal was executed amidst a strong occupancy rate and included support for ground-floor retail space enhancements.