JLL Secures $22M in Financing for Humblewood Center
- Jun 07, 2017
JLL’s Capital Markets team secured $22.2 million in acquisition financing for Humblewood Center, located in suburban Houston. Managing Director Jimmy Board and Associate Jarrod McCabe led JLL’s financing team on behalf of Forge Capital Partners, the new owner. JPMorgan Chase provided the five-year, fixed-rate loan.
Built in 1980, Humblewood Center is a 172,897-square-foot retail asset located at the southwest corner of U.S. Highway 59 and Farm to Market Road 1960, near Deerbrook Mall and Deerbrook Marketplace. The area is highly visible, with 129,000 cars passing by every day, while more than 123,000 people living within a five-mile radius. Notable tenants include Petco, Conn’s Home Plus and Skechers.
“The center sits at northeast Houston’s most significant retail intersection. It’s a retail hub with huge regional draw and a high-performing mix of national and regional tenants, which makes it an excellent lending opportunity,” Board said in a prepared statement.
Image courtesy of JLL