JLL Capital Markets recently facilitated the sale of Retreat at Mesa Hills, a large multi-housing community in El Paso, Texas. The seller, JRK Properties, was represented by JLL’s Investment and Sales Advisory team led by Steven Hahn Jr., Art Barnes, Roberto Casas and William Jennings.
The buyer for this transaction was the El Paso Housing Authority. They have offered $145.4 million in residential development revenue bonds to acquire and re-develop the property.
Retreat at Mesa Hills is a 752-unit apartment complex that has been completed in multiple phases since 1995. It is located at 945 South Mesa Hills Dr., offering residents a variety of one-, two- and three-bedroom units ranging from 538 to 2,127 square feet. The community also boasts numerous amenities such as three swimming pools with tanning decks and private cabanas, a fitness center, illuminated tennis courts,volleyball courts,a Starbucks WiFi café,a clubroom,gameroom,and media theater.
Overall,this deal marks an exciting change for this popular rental property as it transitions into new ownership under the El Paso Housing Authority.
