SHENANDOAH, TX — October 9, 2025 — Johnson Capital Multifamily, LLC (JCM), an Oak Real Estate Partners company and approved MAP lender, has closed an FHA-insured construction-to-permanent loan for The WoodLofts, a 229-unit luxury multifamily community in Shenandoah, Texas, adjacent to the nationally recognized, award-winning master-planned community of The Woodlands.
Financed through FHA’s 221(d)(4) multifamily mortgage insurance program, the non-recourse loan carries a 40-year fully amortizing term with a fixed interest rate of 5.55%. The structure combines both construction and permanent financing into a single, assumable package, eliminating interest rate risk during construction, while supporting long-term ownership and operational flexibility.
The WoodLofts is being developed by Woodlofts Shenandoah, Ltd., a joint venture between Buckhead Investment Partners, Inc. and Juniper Investment Group. The Houston-based firms have been active multifamily developers and owners throughout Texas and the Southwest U.S. for over three decades and have a successful track record utilizing FHA-insured financing in their multifamily pursuits.
“JCM Multifamily is proud to partner with Buckhead and Juniper to deliver a project that blends thoughtful design with long-term financing stability,” said Kevin Kirton of Johnson Capital Multifamily’s Houston Office, which originated the loan on behalf of the sponsor. “The FHA-insured construction/permanent loan was the perfect fit for this development and its long-term investment horizon.”
Situated on a fully entitled, 3.2-acre site, the four-story, wood-frame development wraps a 376-space structured parking garage and features 229 studio, one-, two-, and three-bedroom units. The luxury apartments will feature high-end finishes, nine-foot ceilings, stainless steel appliances, granite countertops, in-unit washer/dryers, and private balconies or patios with optional dog yards. Community amenities include a clubhouse and leasing center, resort-style pool, state-of-the-art fitness center, package concierge, cybercafé, media room, dog park and grooming station, elevators, and an outdoor kitchen.
The project sponsors navigated a protracted post-pandemic entitlement process under the City of Shenandoah’s highly restrictive development code in a challenging development environment marked by increased construction costs and interest rates. They ultimately secured approval to have the site rezoned from retail-commercial use to a Planned Development District specifically created for The WoodLofts, making it one of the few recently approved multifamily projects in the city.
“Getting this project across the finish line was a labor of love,” said Buckhead’s Matthew Morgan. “The WoodLofts is not your average development—it’s a reflection of our staunch belief in the long-term appeal of this market and our vision of delivering a lifestyle option not presently available in the neighborhood that will provide value to the community’s residents and the entire area.”
Surrounded by large institutional and corporate employers and top tier amenities, The WoodLofts offers proximity and convenient access to the 1,000-acre Woodlands Town Center, five major hospitals, and pre-eminent mixed-use destinations, such as Hughes Landing, Market Street, and City Place. The project is in the acclaimed Conroe Independent School District and near several premier retail and entertainment venues.
The Woodlands submarket is home to more than 4,000 employers and a highly diversified economic base, including the massive 385-acre Exxon-Mobil corporate headquarters employing over 10,000 people and one of the fastest-growing healthcare hubs in the country. The four founding institutions of Houston’s Texas Medical Center—the largest medical complex in the world—are actively expanding their nearby campuses. These expansions, along with a number of other major clinics and medical office developments, will only add to the growing influx of medical professionals and support staff seeking high-quality housing close to work.
“This is exactly the type of location we target, where sustained job growth, quality of life and barriers to entry resulting in limited housing inventory all intersect,” said Jay Rippeto, CEO of Juniper Investment Group. “The WoodLofts will appeal to today’s renter who wants modern design, walkable convenience, lifestyle amenities and easy access to career opportunities without having to pay a premium to live in the nearby Woodlands Town Center projects.”
Pre-leasing is expected to begin in late 2026, with completion targeted for the third quarter of 2027.
