Lloyd Jones Acquires 351-Unit Core Multifamily Asset in Katy, Texas
MIAMI - December 21, 2021 - ( Newswire.com )
Lloyd Jones, a real estate investment firm headquartered in Miami, announced today the acquisition of Seville at Clay Crossing, a 351-unit, Class A apartment community in Katy, Texas. Built in 2020, the core asset features an impressive amenity set and an outstanding location within an affluent submarket of Houston.
Seville at Clay Crossing is a three-story garden-style community with an enviable amenity package that includes a resort-style pool, a dog park with a dog washing station, outdoor games, package lockers, and private garages and storage. Apartment interiors feature top-of-the-line amenities, such as granite countertops, nine-foot ceilings, wood-look plank flooring, and in-unit full-size washers and dryers.
The property is less than a mile from Amazon’s new sorting center, which is adding more than 3,000 jobs to the area. It offers convenient access to major employers in the Energy Corridor and greater Houston, including Shell Oil Company, the highly ranked Katy Independent School District, and the multitude of top-rated hospitals and healthcare facilities nearby.
Lloyd Jones plans to continue stabilization of the asset and maximize value through operational efficiencies and by implementing a mark-to-market strategy for growing rent while remaining competitive in the market.
Lloyd Jones sourced the property on favorable terms prior to it being marketed for sale, a testament to the firm’s strong relationships within the multifamily industry.
“We’re extremely pleased to add Seville at Clay Crossing to our portfolio,” said Chris Finlay, chairman and CEO of Lloyd Jones. “This acquisition aligns well with our core asset strategy; it is very well appointed, in a fantastic location near some of the area’s largest healthcare and tech employers, and is poised to produce attractive cash flow and returns for our investors.”
For more information about Lloyd Jones, visit www.lloydjonesllc.com.
About Lloyd Jones LLC
Lloyd Jones LLC is a real estate investment and development firm with more than 40 years in the industry under the continuous direction of Chairman/CEO, Christopher Finlay. Based in Miami, the firm has divisions in multifamily, senior housing, and hotel investment, development, and management. Its investment partners include private and institutional investors and family offices around the world. To learn more about Lloyd Jones, visit www.lloydjonesllc.com.
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Original Source: Lloyd Jones Acquires 351-Unit Core Multifamily Asset in Katy, Texas