DENVER – JLL Capital Markets announced today that it has arranged the refinancing of Advenir on Addison, a 264-unit, garden-style multi-housing property in North Dallas.
JLL worked on behalf of the borrower, Advenir, to secure the seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.
Advenir on Addison is located at 17671 Addison Road near the intersection of President George Bush Turnpike and Dallas North Tollway. The property is well supported by retail, dining and entertainment venues, including the Galleria Mall, Village on the Parkway, the Shops at Willow Bend and Valley View redevelopment. Advenir on Addison is also near the Platinum Corridor, one of the DFW metroplex’s largest office corridors, and three of the metro’s largest mixed-use developments: CityLine, Legacy Business Park and Frisco’s $5 Billion Mile. Units include one- and two-bedroom floor plans averaging 923 square feet with amenities such as stainless steel appliances, granite kitchen counters, hardwood and slate flooring, spacious walk-in closets, in-unit washers and dryers, and attached garages for all units.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler, Managing Director Josh Simon and Senior Managing Director Andy Scott.
DALLAS – JLL Capital Markets announced today that it has arranged the refinancing of Central Park Apartments, a 144-unit, garden-style apartment community in North Dallas’ Vickery Meadow neighborhood.
JLL worked on behalf of the borrower, Frontline Holdings, to secure the 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.
Central Park Apartments is located at 8325 Meadow Road one half of a mile east of North Central Expressway (U.S. Highway 75). Originally built in 1977, Frontline Holdings has invested more than $1 million in capital improvements to the property since acquiring it in 2016. The property consists of 12 two-story buildings that house 96 one-bedroom units and 48 two-bedroom units. Community amenities include a pool, fitness center, clubhouse, business center, on-site laundry facilities and 192 surface parking spaces.
The JLL Capital Markets debt placement team representing the borrower was led by Managing Director Mark Brandenburg and Associate Chad Russell.
DALLAS – JLL announced today that it has arranged financing for Archway Equities’ acquisition of six Class B multi-housing assets totaling 1,456 units in multiple states.
JLL worked on behalf of the borrower, Archway Equities LLC, an affiliated entity of Archway Holdings Corp., to secure the Freddie Mac financing, which will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. The portfolio has an average construction date of the mid-1980’s and totals 1.14 million rentable square feet.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Andy Scott and Director Michael Cosby.
MIAMI – JLL announced today it has arranged $17.78 million in acquisition financing for a 144-unit, garden-style, scattered-site apartment portfolio in Boca Raton, Florida.
Working exclusively on behalf of Boca ATC, JLL placed the 10-year, fixed-rate loan with Freddie Mac. The loan, which funded Boca ATC’s acquisition of the portfolio, will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.
The portfolio’s 144 value-add units are located within five separate communities, which were completed between 1971 and 1987. The 95% occupied portfolio features spacious residences averaging 1,011 square feet. The properties are situated in premier infill locations zoned to some of Boca Raton’s best public schools and proximate to the area’s top employment, retail and entertainment demand drivers.
The JLL Capital Markets team representing the borrower was led by Managing Director Elliott Throne and Director Jesse Wright.
“Freddie Mac stepped up to offer highly accretive financing for a strong sponsor with a great track record despite the nuance of the scattered site aspect of the offering,” Throne said. “Congratulations to Boca ATC for a superb acquisition.”
MORRISTOWN, N.J. – JLL announced today that it has arranged acquisition financing for The Peaks of Nanuet, a 504-unit apartment complex in the suburb of Nanuet, Rockland County, New York.
JLL worked exclusively on behalf of Mill Creek Residential Trust LLC and an institutional equity partner to arrange the 10-year, floating-rate acquisition loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. JLL also brokered the sale of the property to Mill Creek Residential, details of which were released in a separate announcement.
The Peaks of Nanuet consists 504 units across 64 buildings set on 54 acres that comprise a mix of one-, two- and three-bedroom units averaging 1,208 square feet, with approximately 40% of homes also inclusive of lofts. Units feature nine-foot ceilings, intrusion alarms, separate dining rooms, spacious closets, full-sized washers and dryers, and patios or balconies. The transit-oriented property is located at 100 Avalon Gardens Drive less than a mile from the intersection of the Garden State Parkway, Interstate 287 and Palisades Interstate Parkway. Due to its central location, The Peaks of Nanuet is convenient to Manhattan, the New Jersey state line and Westchester County via car and a variety of mass transit options. Community amenities include a fully equipped fitness center and a resident lounge. The property was 95% occupied at closing.
The JLL Capital Markets debt placement team representing the borrower included Senior Managing Director Andy Scott and Directors Matthew Pizzolato and Scott Findlay.
“JLL was excited to be a part of this transaction by advising the borrowers on their acquisition of The Peaks at Nanuet,” Pizzolato said. “We were able to get Freddie Mac to step up and provide excellent terms that will allow the borrower to execute their business plan at the property.”
DENVER – JLL announced today that it has arranged $40.27 million in financing for Palisade Park, a 216-unit, garden-style apartment community in the north Denver suburb of Broomfield, Colorado.
JLL worked exclusively on behalf of Jeffrey Sanders of Boulder, Colorado-based Mountain View Capital, LLC to secure the 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. Loan proceeds refinanced an existing Freddie Mac loan originated in 2018.
Completed in 2017, Palisade Park is fully stabilized and comprises one-, two- and three-bedroom units ranging from 731 to 1,247 square feet. The property is located at 16815 Huron Street, which allows for easy access to employment centers and recreational destinations in and around Denver and Boulder. The property encompasses 14,500 square feet of indoor and outdoor amenity space featuring a beach-style pool with sundeck and spa; pergola with gas grills and fire pit; 24-hour fitness center; clubhouse with billiards, Wi-Fi lounge, media center and business room; dog wash and dog park; playground; and detached garages.
The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon.
