JLL today announced the sale of Dakota Lofts, an historic four-story apartment building located at 711 William Street in the heart of Houston’s Warehouse District.
JLL Capital Markets’ Chip Nash and Bob Heard and Houston Income Properties’ Jim Hurd and Bishale Patel represented the seller, Randall Davis Company. The buyer and the sales price are undisclosed.
Originally built in 1911, the building was formerly the home of the Bute Paint Factory and is listed on the National Register of Historic Places. The Randall Davis Company renovated the building in 1993, when the facility was converted to multi-family housing featuring 53 unique vintage loft-style units.
With 63,388 net rentable square feet, Dakota Lofts units feature 10- to 12-foot ceilings, wood floors, granite kitchen counters, and oversized bathrooms with garden tubs. The property, which is over 90 percent occupied, also features a fitness center and an art gallery in the lobby, as well as stunning views of the Houston skyline and proximity to the restaurants, live music venues, and all that downtown has to offer.
542-unit Villa Nueva apartment complex changes hands
JLL today announced the sale of Villa Nueva, a 542-unit apartment complex located at 5300 West Gulf Bank Road in Houston, Texas.
The two-story development was constructed in three phases, with phase completed in 1980, 1981 and 1983.
JLL Capital Markets’ Chip Nash, Bob Heard, and Greg Austin represented the seller, Claro Villanueva. The property was purchased by Iliad Realty Group for an undisclosed price.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
