DENVER – JLL Capital Markets announced today that it has arranged the $42.5 million construction loan for the development of West Line Village Apartments, a 281-unit, Class A multi-housing community in the Denver suburb of Lakewood, Colorado.

JLL worked on behalf of the developer, a joint venture of Trailbreak Partners and Highland Development Company, to secure floating-rate construction loan through Pacific Western Bank.

West Line Village Apartments will be a five-story building wrapped around a seven-level concrete parking structure with 362 parking spaces. The property will total more than 201,000 rentable square feet situated on a 1.97-acre site at 5645 W. 10th Avenue. The project’s location within an opportunity zone is four miles to downtown Denver and walkable to the Sheridan light rail station. Upon completion in 2022, West Line Village will feature a swimming pool, hot tub, rooftop patio, courtyard lounge areas, clubhouse, business center, fitness center, media room, pet spa and co-working office space.

The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon and Senior Director Kristian Lichtenfels.

SAN FRANCISCO – JLL Capital Markets announced today that it has arranged $30 million for the development of Roystone, a 93-unit, boutique multi-housing project with ground-floor retail in Seattle’s desirable Lower Queen Anne neighborhood.

JLL worked on behalf of the developer, Vibrant Cities, to secure the construction financing through First Interstate Bank.

Due for completion in fall 2021, the eight-story building will include 93 luxury residences with underground parking and a rooftop deck offering views of Downtown Seattle, the Space Needle and Elliott Bay. The project will also feature small-scale, street-level retail totaling 3,814 square feet that will contribute to the neighborhood’s pedestrian-friendly character. The project is designed by Jackson Main Architecture and general contracting services are being provided by Pavilion Construction. In addition to the rooftop deck, amenities will include a lobby-level resident lounge, fitness room and clubhouse.

The JLL Capital Markets debt placement team representing Vibrant Cities was led by Brandon Roth, Zack Goodwin and Matt Pelpel, who have financed multiple projects for Vibrant.

”We value Brandon Roth, Zack Goodwin and the JLL partnership,” said James Wong, CEO and co-founder of Vibrant Cities. “The team has been a trusted partner for Vibrant on multiple projects. With their representation, we can be confident we are getting the right funding partners and optimal terms for all parties involved. Brandon and his team delivered on those expectations again with Roystone.”

“For every project Vibrant develops, we always have a partner in charge from beginning to end,” said Pui Leung, a managing partner and co-founder of Vibrant. “As the partner in charge of Roystone, I am proud to state that this project will be the first eight-story apartment community built under Seattle’s up-zoned code in Queen Anne, one of city’s most desirable neighborhoods. We’re excited and grateful to be adding needed urban living apartments in the fast-growing Seattle market.”

CHARLOTTE – JLL Capital Markets announced today it has closed the sale of Alta Blu, a 298-unit, Class A apartment community in Chapel Hill, North Carolina.

JLL marketed the property on behalf of the seller, Wood Partners, and procured the buyer, Principal Real Estate Investors.

Alta Blu is located at 5840 Farrington Road in Chapel Hill near some of the Research Triangle’s largest knowledge and technology-driven employers. The property is also near Highway 54 and Interstate 40, which provides residents with easy access to the area’s top retail and grocers. Completed in 2019, the community consists of 282,628 rentable square feet of residential across a mix of studio through three-bedroom homes and 5,000 square feet of co-working office space. Apartments feature spacious floor plans, stainless steel appliances, sleek white cabinetry, granite countertops, expansive walk-in closets, wood-style flooring, in-home washers and dryers, and private patios or balconies. Community amenities include a saltwater pool, courtyard with outdoor theatre, resident lounge, business center, fitness center, dog walking service and nearby access to botanical gardens and walking trails.

The JLL Capital Markets team representing the seller was led by Managing Directors Justin Good and Jeff Glenn, Senior Vice President Andrea Howard, Senior Directors Allan Lynch and Caylor Mark, and Vice President John Currin.

“Alta Blu’s sale represents the latest institutional endorsement for Chapel Hill and the greater Raleigh-Durham MSA,” Glenn said. “Unique product with tremendous access to STEM jobs and intellectual capital continues to garner significant investor interest.”

“With ties to UNC-Chapel Hill and Duke University across all parties to the transaction, Alta Blu’s growth story and investment thesis resonated on many levels from ground-up to ultimate sale,” Mark added.

SAN DIEGO – JLL Capital Markets announced today that it has arranged the $6.9 million refinancing of Goforth MH Village, a 73-home site, Class A, age 55+ manufactured home community in Orange, California.

JLL worked on behalf of a private investor to secure the 10-year, fixed-rate loan with interest-only payments.

Goforth MH Village is located at 1801 E. Collins Avenue immediately west of the Costa Mesa Freeway, which provides connectivity to other major highways throughout Orange County and Southern California. Originally constructed in 1958, the property has remained at or close to 100% occupancy for many years, and features a community clubhouse with kitchen, swimming pool and outdoor picnic area. 

The JLL Capital Markets debt placement team representing the borrower was led by Senior Director Zach Koucos. 

DALLAS – JLL Capital Markets announced today that it has closed the sale of St. Pauls House, a 171-bed skilled nursing and sheltered care community in Chicago, Illinois.

JLL marketed the portfolio exclusively on behalf of the seller, Lutheran Life Communities, and procured the buyer, an experienced operator of long-term care facilities in Illinois.

St. Pauls House was originally built in 1921 with the additions of the East Wing in 1956 and the West Wing in 1970. The community’s 55 sheltered care units are studios averaging 227 square feet and the skilled nursing facility has 96 operational beds. Community amenities include daily housekeeping, a home-like environment with chef-prepared meals, life enrichment programming, 24-hour nursing care and a state-of-the-art rehabilitation therapy gymnasium. The 100,000-square-foot community is situated on 2.38 acres at 3800 N. California Avenue in Chicago’s Irving Park neighborhood to the northwest of downtown.

The JLL Seniors Housing Capital Markets investment advisory team representing the seller was led by Managing Directors Mike Garbers and Cody Tremper.

130-bed assisted living and memory care community in Naples sold on behalf of Prevarian Senior Living 

DALLAS, January 22, 2020 – JLL Capital Markets announced today that it has closed the sale of Beach House Naples, a 113-unit/130-bed assisted living and memory care community in Naples, Florida.

JLL marketed the portfolio exclusively on behalf of the seller, Prevarian Senior Living, and procured the buyer, CPF Living Communities.

Beach House Naples consists of 81 studio, one-bedroom and two-bedroom assisted living units and 32 studio memory care units. Completed in 2015, the 98,418-square-foot property is situated on a more than eight-acre site at 1000 Airport-Pulling Road. The community was designed by leading senior living architect, Architectural Concepts, Inc., and interior designer, Studio|65. Beach House Naples features units appointed with upscale amenities, including granite countertops, energy-efficient stainless steel appliances, partial kitchens with small islands and private bathrooms. The community also offers a movie theater, pub, game room, bocce court, outdoor courtyards, library and bar and lounge area. Resident services include personalized care plans, transportation, room service and group fitness classes.

The JLL Seniors Housing Capital Markets investment advisory team representing the seller was led by Managing Directors Cody Tremper and Mike Garbers.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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