CHARLOTTE – JLL Capital Markets announced today that it has arranged $22.36 million in construction financing for the development of Hartwell Village Apartments, a 185-unit, 433-bed, Class A student housing project that is part of the Hartwell Village mixed-use development near Clemson University in Clemson, South Carolina.

JLL worked on behalf of the developer, The Priess Company, to place the non-recourse construction loan.  

Hartwell Village Apartments will be situated between Tiger Blvd. (US 76) and Pendleton Rd. (SR 93) just 0.75 miles across Lake Hartwell from Clemson University, which has a current enrollment of nearly 25,000 students. The property will be part of the 45-acre mixed-use Hartwell Village development, which opened in 2018 and currently contains two hotels, a Tru by Hilton and an Aloft, along with retail space occupied by Ulta Beauty, Marshalls, Five Below, PetCo, Michaels, Aldi, Rack Room Shoes and more. Hartwell Village Apartments will feature a resort-style pool, state-of-the-art fitness center, resident clubhouse, ample parking and high-end unit finishes.

The JLL Capital Markets team representing the developer was led by Managing Director Roger Edwards. 

“JLL was very excited to be able to work with The Priess Company, who is a leader in the student housing industry, on securing attractive non-recourse financing for the Hartwell Village project,” Edwards said. “The Priess Company has a long and active history at Clemson, and we look forward to seeing the Hartwell Village project commence and its future success.” 

DALLAS – JLL Capital Markets announced today that it has arranged financing for Arlington Park, a 252-unit, garden-style apartment community in West Mobile, Alabama.

JLL worked on behalf of the Dallas-headquartered borrower, Saxony Capital Management, LLC, to secure the three-year, floating-rate loan through The Bancorp, Inc.

Located at 7070 Grelot Road, Arlington Park is set on 20.68 acres just south of Airport Boulevard, one of the area’s most affluent locations with average household incomes of approximately $75,000 per year within one mile of the property. Originally constructed in 2001, the property consists of one-, two- and three-bedroom units averaging 1,166 square feet. The property has recently undergone renovations to the exterior and common areas, including new exterior paint and a completely remodeled clubhouse and fitness center. Other common area amenities include a saltwater pool with outdoor kitchen area, game room with billiards, bark park, car care center and available private one-car garages. The property was more than 96% occupied at closing.

The JLL Capital Markets debt placement team representing the borrower was led by Senior Managing Director Mark Brandenburg and Associate Chad Russell.

SAN ANTONIO – JLL Capital Markets announced today that it has closed the sale and arranged financing for OakRidge Apartment Homes, a 216-unit, value-add, garden-style multi-housing property located in the Northeast San Antonio submarket.

JLL marketed the property exclusively on behalf of the seller, Regional Investment & Management (RIM), and procured the buyer, Bellaire Partners, LLC. Additionally, working on behalf of the new owner, JLL arranged a five-year, fixed-rate acquisition loan through NexBank.

OakRidge Apartment Homes features 15 three-story buildings with units averaging 692 square feet. The well-maintained property features a resort-style pool, state-of-the-art fitness center, clubhouse, business center, grilling area and playground. Located at 11200 Perrin Beitel Road, the property is near Wurzbach Parkway and Interstate 410 Loop, which provides connectivity to all areas in the San Antonio-Austin corridor. Additionally, the property is less than five minutes from the Northern Hills Country Village shopping area, less than two miles from the Northern Hills Golf Club and approximately seven miles from the San Antonio International Airport.

The JLL Capital Markets team representing the seller was led by Senior Directors Moses Siller and Zar Haro.

JLL’s Capital Markets debt placement team representing the new owner was led by Senior Managing Director Mark Brandenburg.

WASHINGTON D.C. – JLL Capital Markets announced today that it has completed the $62.7 million sale of Monument Village at College Park, a mixed-use residential and retail property in College Park, Maryland.

JLL marketed the property on behalf of Monument Realty. Foulger-Pratt purchased the offering free and clear of existing debt.

Monument Village at College Park consists of 235 residential units averaging 894 square feet, 12,200 square feet of amenity space and 4,800 square feet of ground-floor retail. The property offers community amenities, including a resort-style pool with cabanas and outdoor grilling areas, fitness center with yoga and spin studios, Zen garden, clubroom with catering kitchen and billiards, movie theater and gaming room with snack bar, conference room, lounge with computer workstations and coffee bar, pet spa and dog run.

Completed in 2016, the Class A property is located along Route 1 near the intersection of Baltimore Avenue and Cherokee Street, which positions it near major area highways and public transportation and within two miles of The University of Maryland, College Park. In addition, the property benefits from proximity to major employers in the Discovery District master-planned development as well as numerous government and healthcare employers. 

The JLL Capital Markets team representing the seller included Walter Coker, Brian Crivella and Robert Jenkins.

NEW YORK — JLL Capital Markets announced today that it has arranged financing for the acquisition of The Castle, a 120-unit luxury rental community located at 201 Willett Avenue in downtown Port Chester, N.Y. The group worked on behalf of Anthos Properties to place the $28 million loan with Fannie Mae.

Built in 2015, The Castle is a quintessential luxury, transit-oriented apartment asset located in the heart of rapidly transitioning downtown Port Chester. Institutionally developed, maintained and owned, the property is considered a cornerstone development in Port Chester’s emerging commercial district and exhibits the highest-end institutional design and execution. The 120-unit building offers a large amenity base, prominent lobby, ground-floor retail unit and subterranean parking.

Anthos Properties acquired the luxury rental community for $38.6 million from institutional investors advised by J.P. Morgan Asset Management.

JLL’s Kelly Gaines and Sophie Gaylor represented the buyer in obtaining financing for the acquisition.

“The Castle is a Class A asset in a transit-oriented location such that lenders were able to understand and get comfortable with Anthos’ business plan to maximize the value of the property in order to provide very aggressive terms for the loan,” said Gaines. “Working in tandem with our agency lending team we were able to present Anthos a multitude of options and remain flexible amongst those options until right before closing of the loan.”

“Anthos Properties was instantly attracted to The Castle’s overall quality and best-in-class amenities package,” said Paul Anagnostopoulos, director of acquisitions for Anthos Properties. “The Castle’s location, which is less than 1,000 feet from the train station, and a quick walk to Port Chester’s emerging entertainment and restaurant scene, were also driving factors in our decision to acquire the asset.”

MIAMI – JLL Capital Markets announced today that it has arranged $34 million in financing for the development of First - Little Havana, a 194-unit multi-housing project located in Miami’s Little Havana submarket.

JLL worked on behalf of the developer, PREMIUM Development Inc., to secure the non-recourse construction loan from Man Global Private Markets (“Man GPM”).

First - Little Havana will be situated at 7th Avenue and SW 1st Street one block from West Flagler Street within the Little Havana submarket, which boasts a rich heritage of culture and entertainment while also being adjacent to Miami’s financial and medical districts. Due for completion in 2021, the property will total nearly 160,000 square feet of residential space with 7,000 square feet of ground-floor retail and a total of 231 garage parking spaces. The development will feature a resort-style pool, fitness center, yoga studio and dog park.

The JLL Capital Markets team representing the developer was led by Director Brian Gaswirth and Associate Michael DiCosimo.

“PREMIUM Development has established itself as a premier residential developer within Europe and is endeavoring to replicate their success within South Florida. We were able to identify a strategic lender that seeks to help facilitate PREMIUM’S growth here,” Gaswirth said. “Man GPM structured highly accretive terms to help the developer plant their flag in the dynamic Miami market.”

“This project is aligned with our lending strategy of targeting what we believe to be high-quality real estate in established locations, with a focus on developments and value-add properties backed by experienced sponsors,” said Jonathan Schube, head of U.S. Commercial Real Estate Debt at Man GPM.