Loan proceeds refinance existing debt on the Raleigh, North Carolina, garden-style apartment community

WASHINGTON D.C., September 18, 2019 – JLL announced today it has secured $24 million in financing for Olde Raleigh Apartments, a 228-unit, garden-style apartment community located in Raleigh, North Carolina.

JLL worked on behalf of Taurus Investment Holdings, LLC, to arrange the 10-year, floating-rate loan through Freddie Mac’s Green Advantage program. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. Loan proceeds refinanced existing debt on the property.

Olde Raleigh is located at 4000 Grand Manor Court near William B. Umstead State Park and Interstates 40 and 440, which provide residents with access around the Raleigh-Durham MSA. The property consists of a mix of one-, two- and three-bedroom floor plans with a large selection of in-home features, including gourmet kitchens with stainless steel appliances, garden tubs, custom built-ins, plank flooring, in-unit washers and dryers and private patios or balconies. Community amenities include a resort-style pool, outdoor grilling station, clubroom, fitness center, business center with conference lounge, car care center, pet wash station and dog park. Olde Raleigh was more than 94% occupied at closing. 

The JLL Capital Markets team representing the borrower was led by Senior Director Jamie Leachman.