752-Unit El Paso Rental Property Changes Hands
JLL Capital Markets represented JRK Properties, the seller, in the sale of the Retreat at Mesa Hills, a 752-unit multi-housing community in El Paso, Texas.
The buyer was the El Paso Housing Authority, which is offering $145.4 million in residential development revenue bonds to acquire and re-develop the apartment complex.
Retreat at Mesa Hills, completed in multiple phases since 1995,is located at 945 South Mesa Hills Dr. The community offers a mix of one-, two– and three-bedroom units ranging from 538 to 2,127 square feet. Residents’ amenities include three swimming pools with a tanning deck and private cabanas, a fitness center, two illuminated tennis courts, two sand volleyball courts, a Starbucks WiFi café, a clubroom, a game room and a media theater.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Steven Hahn Jr., Art Barnes, Roberto Casas and William Jennings.
