JLL Capital Markets is shopping the loan secured by the first mortgage on a Houston property

JLL Capital Markets announced that it has been engaged on behalf of the seller to market the sale of a $22.5 million non-performing multi-housing loan secured by the first mortgage on a low-rise, garden-style apartment property located in Houston.

The loan was originated in September 2016 and is currently in maturity default, offering investors a unique opportunity to acquire a non-performing note at an attractive basis. Investors will also have the opportunity to modify or pursue title to the Property. A foreclosure sale is currently schedule for January 5th, 2021. Call for Offers on the loan sale are Wednesday December 16th, 2020.

The Property is positioned about 10 miles northeast of Downtown Houston near various retail and other desirable residential properties.

The JLL Capital Markets team representing the seller includes Managing Director Tom Hall and Senior Directors Chris Young and Joey Rippel.

“Given the increased efficiency in the secondary market from past cycles, we continue to see lenders elect to sell their loan positions instead of stepping into title,” said Hall. “We expect to see strong interest in the offering as it is rare to see non-performing multi-housing notes today.”

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 sales 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. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.