JLL Helps Secure $42.5M Refinancing For Howard Hughes' Millennium Six Pines
Howard Hughes and JLL’s capital markets team secured a $42.5M refinancing of Millennium Six Pines, a 314-unit Class-A multifamily asset in The Woodlands. JLL's Mike Melody, Randy Fleisher and president Dustin Dulin secured the loan through its Fannie Mae DUS lending platform. "The financing is a strong indication that the capital markets remain open and available for high-performing assets in great locations in the Houston region, such as The Woodlands,” said Howard Hughes president Grant Herlitz. Capital markets have been tight around Houston for multifamily assets. The borrower certainly played a role in the decision. Randy anticipates financing to "remain available for strong sponsors such as Howard Hughes as demand for well-amenitized multifamily assets continues.”
