HOUSTON, Jun 3, 2024 - JLL Capital Markets announced today that it has completed the sale of Banyan Kingsland Heights, a 97-home, build-to-rent (BTR) community in Katy, Texas.
JLL represented the seller, Banyan Residential, in the sale.
Completed in 2021, Banyan Kingsland Heights is a rental community consisting entirely of single family three- or four-bedroom homes. The homes average 1,876 square feet each and offer two-car garages, six-foot privacy fencing, stainless steel appliances, granite countertops, walk-in closets and vaulted or nine-foot plus ceilings.
The property is located on 27 acres at 4104 Scarlet Oak Ln. in Brookshire, Texas, just south of Interstate 10 and close to State Highway 99. Brookshire is located about 37 miles west of Downtown Houston and is part of the Katy Independent School District, the top-rated school district in West Houston. The immediate area boasts strong demographics, including an average household income of $157,802 within a one-mile radius and a 58% growth in population since 2020 as compared to a 0.8% annual U.S. population growth. In addition, Banyan Kingsland Heights has access to a variety of retail, entertainment and dining options, all within 20 minutes of the property.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Matthew Putterman and Directors Jim Humphries and Daniele Colbertaldo and Analyst Rhett Robins.
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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on 03 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2024 13:25:32 UTC.
