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JLL Secures $28M Loan For The Landing At Augusta Woods Senior Housing

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FINANCED
$28,000,000
Zane Sweet
Kyle White
+ 1

Texas

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Senior Housing
Financed 10/25/2023
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FINANCED

JLL Secures $28M Loan For The Landing At Augusta Woods Senior Housing

7727 Augusta Pines Drive

See Similar Deals
Senior Housing
Financed 10/25/2023
Zane Sweet
Kyle White
+ 1
Contact now

Summary

TEXAS
Asset Type:Senior Housing
Transaction Type:Loan

The Landing at Augusta Woods, a 148-unit senior housing community located at 7727 Augusta Pines Drive in Spring, Texas, has secured a $28 million senior mortgage. Harmony Communities, led by Mark Coleman, is the landlord of this property. The community is set to receive financing from a Life Insurance Company, which will be used to refinance an existing construction loan and support the expansion of the community. The Landing at Augusta Woods offers various living options and is poised to benefit from this new investment.

Summary of transaction details

  • Property Type: Senior Housing
  • Transaction Amount: $28,000,000
  • Units: 148
  • Market: Spring, Texas

The brokers involved in securing this loan are Alanna Ellis, Kyle White, Zach Brantley, and Zane Sweet from JLL. Their expertise in the senior housing market has played a crucial role in obtaining the necessary financing for The Landing at Augusta Woods. With their assistance, the community can continue to provide high-quality living options for seniors in the Spring area.

Players

Alanna Ellis
9 deals$469.7M volume
BROKER

Zane Sweet
JLL
4 deals$169.8M volume(949) 885-2986
BROKER

Kyle White
JLL
11 deals$1.2B volume
BROKER

Zach Brantley
JLL
2 deals$86M volume
BROKER

LANDLORD

Details

FINANCED
IMAGE: Alanna Ellis, Kyle White, Zach Brantley & Zane Sweet DATE: 10/25/2023 ADDRESS: 7727 Augusta Pines Drive MARKET: Spring ASSET TYPE: Senior Housing ~ UNITS: 148 LANDLORD: Harmony Communities - Mark Coleman BROKERS: Alanna Ellis, Kyle White, Zach Brantley (@ZachBrantley) & Zane Sweet - JLL (@JLL) LOAN AMOUNT: $28,000,000 LOAN TYPE: Refinance LOAN TERMS: four-year, fixed to floating rate NOTE: JLL Capital Markets secured a $28 million senior mortgage for The Landing at Augusta Woods, a 148-unit senior housing community in Spring, Texas. The financing, obtained from a Life Insurance Company, will refinance an existing construction loan and fund the expansion of the community, which offers various living options.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$28,000,000.00

Monthly NOI$186,666.67
Monthly Debt Service$176,979.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00