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JLL Negotiates Sale and Acquisition Funding of Retail Center in Houston
JLL Capital Markets closed a sale and arranged acquisition financing for Wood Ridge Plaza, a 211,218-square-foot, retail strip center located on 19.56 acres in Oak Ridge North, 27 miles north of Houston’s Central Business District.
JLL marketed the property on behalf of the seller, a real estate fund advised by Crow Holdings Capital. DLC Management Corp. acquired the asset in its first Houston acquisition. Additionally, JLL secured the three-year, floating-rate, non-recourse acquisition loan for the new owner.
Built in 1975, Wood Ridge Plaza has been renovated throughout the years and comprises five buildings. With occupancy at 88.1-percent, the center is anchored by regional and local tenants.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan West and Rusty Tamlyn and Analyst Ethan Goldberg. The JLL Capital Markets Debt Advisory team included Managing Director Cameron Cureton and Analyst Jack Britton. The transaction amount was not disclosed.
- ◦Sale/Acquisition
