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Texas  + Apartments  | 

Longview Workforce Portfolio Trades to Two Buyers

JLL Capital Markets closed the sale of Summer Brook, Summer Green I & II and Summer Lake, three workforce multi-housing communities totaling 884 units in the East Texas community of Longview.

A team of Greg Toro and Steven Hahn Jr. marketed the properties on behalf of the seller, BSR Real Estate Investment Trust. Separately, BSR announced that the three properties traded for $52.5 million.

Monarch Investment & Management Group purchased Summer Brook and Summer Green I & II, and Saxony Capital Management purchased Summer Lake. A JLL debt placement team of Mark Brandenburg and Chad Russell also worked on Saxony’s behalf to secure a floating-rate loan for the acquisition of Summer Lake through Freddie Mac.

The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo lender.

Pictured: Summer Lake in Longview.

For comments, questions or concerns, please contact Paul Bubny

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Inside The Story

Connect With JLL’s ToroConnect With JLL’s HahnConnect With JLL’s BrandenburgConnect With JLL’s Russell

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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