HOUSTON — JLL has arranged two loans of undisclosed amounts for the refinancing of a pair of multifamily properties totaling 745 units in Houston’s River Oaks area. Hanover Autry Park is a 23-story high-rise building with 324 units and nearly 23,000 square feet of ground-floor retail space. Hanover Parkview is a 421-unit midrise apartment building with 24,000 square feet of ground-floor retail space. Both properties were completed in 2022 and offer amenities such as pools, outdoor grilling areas, social lounges with entertainment kitchens, fitness centers and rooftop lounges with indoor/outdoor bars. The properties were 92 and 95 percent occupied, respectively, at the time of the closings of the loans, both of which were structured with five-year terms and fixed interest rates. Cortney Cole, Colby Mueck, Laura Brown, Davis Burnett and Scot Sarlin of JLL arranged the loans through funds backed by global private equity firm KKR. The borrower, a partnership between Hanover Co. and Lionstone Investments, will use proceeds to retire construction debt that JLL also originated for both properties in 2019.
The mid-rise building in the foreground of this image is Hanover Parkview, and the high-rise behind it is Hanover Autry Park. Combined, the properties total 745 units.
JLL Arranges Refinancings for Two Houston Multifamily Properties Totaling 745 Units
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