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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
- ◦Sale/Acquisition

