JLL Capital Markets announced today that it has arranged the $10.6 million refinancing of Azul Luxury Residences, a 49-unit multi-housing community located in Stuart, Florida.
JLL worked on behalf of the borrower, Diversyfund, to secure a $9 million senior mortgage loan and a $1.6 million mezzanine loan through SteepRock Capital.
Built in 2019, the three-story Azul Luxury Residences features one-, two- and three- bedroom spacious units with 10-foot ceilings, balconies, walk-in closets, stainless steel appliances, air conditioning and in-unit washers and dryers. Common area amenities include a swimming pool, spa, clubhouse and a fitness center.
Located at 201 SW Joan Jefferson Way, Azul sits in the heart of Historic Downtown Stuart, on the Southeastern coast of Florida. The property boasts walkability to many of the area’s shops and restaurants, as well as well as Lyric Theater and the Creek Arts District. Nearby outdoor activities are also easily available with the proximate St Lucie River, Shepard Park and Memorial Park. Additionally, the property is situated directly between US Highway 1 and Interstate 95, offering residents convenient access to Miami, Orlando and Palm Beach.
The JLL Capital Markets Debt Advisory team was led by Managing Director Bryan Clark, Director Kenny Cutler, Associate Brad Vansant and Analyst Emily Pohlman.
"We were happy to have the opportunity to work with Bryan and his team on another transaction. JLL was able to identify the right lending partner in a difficult environment and move us to a quick close through the holiday season," said Isaac Dixon with DiversyFund.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
JLL Capital Markets announced today that it has arranged a construction loan for The Grove at La Frontera, a to-be-built, best-in-class mixed-use multi-housing community located within the DFW metroplex in Arlington, Texas. Once complete, the Grove at La Frontera will feature three distinct uses, which include 336 mid-rise apartments, 60 bungalow-style single-family rental units and 10,000 square feet of ground-floor retail.
JLL worked on behalf of the borrower, Zale Properties, to secure the four-year, fixed-rate loan through Principal Asset Management.
With an anticipated completion of 2025, The Grove at La Frontera will provide a unique mix of single-family rentals and mid-rise multi-housing accommodations, which include one-, two- and three-bedroom floorplans. The units will feature full-size washer/dryers, spacious walk-in closets, quartz and granite countertops, nine- to 12-foot ceilings, hardwood-style flooring, stainless steel appliances, private balconies and dual sink vanities. The development will offer an impressive array of amenities, including two resort-style pools, a state-of-the-art fitness center, pickleball courts, a dog park and pet spa, a clubhouse with a coffee bar and coworking spaces. The property will also feature walking trails, a putting green, a community garden, charming pocket parks and private yards.
Situated at 8100 South Collins St., the site is located directly fronting Debbie Lane, which is currently undergoing an expansion from two lanes to a four-lane divided road. The intersection of Debbie Lane and Matlock Road is less than one mile from the project and serves as the primary thoroughfare that connects residents with a dense set of retail and entertainment options in the immediate area, as well as a robust highway system that provides access to both Dallas and Fort Worth. The property is just a 25-minute drive to Fort Worth’s Sundance Square and a 30-minute drive to Uptown Dallas. Residents of The Grove at La Frontera will also be only 3.4 miles away from Mansfield Town Center and Mansfield Towne Crossing, which are two high performing shopping centers that are adjacent to one another and boast more than 7 million combined visits per year. Additionally, nearby lifestyle and entertainment attractions include the 7,400-acre Joe Pool Lake, Mansfield National Golf Club, Downtown, Hawaiian Falls Water Park, AT&T Stadium and Globe Life Park, Texas Live!, Six Flags Over Texas and Hurricane Harbor.
The JLL Capital Markets team was led by Senior Managing Director John Brownlee, as well as Bo Beidleman and Chad Lisbeth.
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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
JLL Capital Markets announced today that it has arranged the refinance of The Jones, a 224-unit, garden-style apartment community located within the DFW metro in Arlington, Texas.
JLL represented the borrower, WindMass Capital, to secure a floating-rate loan through Benefit Steet Partners. Notably, this refinance marks the beginning of a new relationship between both parties. Considering WindMass’ growth and investment strategy coupled with the wide array of products offered by Benefit Street Partners, the relationship is expected to be rewarding in the coming years.
Built in 1977, the two-story apartment community features studio, one-, two- and three-bedroom units with balconies/patios, spacious walk-in closets, central air and heating, dishwashers, refrigerators and washer and dryer connections. The property is currently amid a capital improvement initiative, with renovations completed on nearly 50% of the units, as well as all building exteriors, and the construction of a new leasing office.
Situated at 2109 Lincoln Dr., The Jones offers residents excellent access to the area’s major thoroughfares, Highway 360 and Interstate 30, and is a 25-minute commute to downtown Fort Worth and downtown Dallas. Proximate neighborhood amenities of the property include AT&T Stadium, Texas Live!, Globe Life Field, Texas Rangers Golf Club, Lake Viridian and numerous shopping and dining options.
The JLL Capital Markets Debt Advisory team was led by Managing Director Kris Lowe and Director Kristi Leonard.
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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
MIAMI, Jan. 3, 2024 – JLL Capital Markets announced today that it has arranged the $65 million construction financing and preferred equity for Marisol, a 292-unit, garden-style multi-housing development in Port Charlotte, Florida.
JLL represented the borrower, Roers Companies, to secure the non-recourse construction loan through Knighthead Funding and the preferred equity through Amzak Capital Management.
Situated at 1200 Loveland Blvd., the property is positioned between two of the fastest growing cities in the United States, North Port and Fort Myers, and is conveniently located just three minutes from Interstate 75, providing future residents convenient accessibility to Fort Myers, North Port and Sarasota. Residents will be just a two-minute drive from the Publix-anchored Peachland Promenade, and within 15 minutes of popular local attractions like Fisherman’s Village and the Port Charlotte Town Center. The property is within a short walk to Harold Avenue Regional Park and nearby local demand drivers like Neil Armstrong Elementary School and Maple Leaf Golf and Country Club. Additionally, residents will benefit from the proximity to Charlotte Harbor, Florida’s second-largest open-water estuary.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Christopher Drew, Lee Weaver and Scott Loving, Managing Director Brian Gaswirth and Analyst Shane Ciacci.
“Roers Companies has shown a consistent ability to identify exceptional locations for their developments while expanding their footprint in the Southeast,” said Gaswirth. “Their extensive experience and proven track record across the country has positioned them to take advantage of these difficult capital markets and break ground at a time when a lot of deals are getting shelved. Marisol serves as a testament to their capabilities and reputation.”
Roers Companies Partner Brian LeBlanc added, “We are excited to develop our second project in Florida, and Marisol will be the first in the state for our in-house general contracting team. Florida will be one of our most significant growth markets in the coming years, and we are big believers in the long-term fundamentals. We really like to set down roots where we are seeking to grow, which is why we opened our regional office in Tampa in 2023 after growing our project pipeline on the West Coast of Florida. Marisol in Port Charlotte will offer its future residents top-notch finishes and amenities plus exceptional access to local retail, amenities and major thoroughfares.”
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit our newsroom.
MORRISTOWN – JLL Capital Markets announced today that it has arranged the $18.625 million refinancing of 39 High Street, an 83-unit multi-housing community located in the Journal Square neighborhood of Jersey City, New Jersey.
JLL represented the borrower, a partnership between Spitzer Enterprises and Titanium Realty Group, to secure the fixed-rate loan through a correspondent life insurance company.
Newly constructed in 2023, the six-story community features market-rate units with studio, one-, two- and three-bedroom layouts, along with an 18-space parking garage. The property’s amenity package includes a communal fitness center, children’s playroom, tenant lounge and an expansive rooftop terrace with New York City views.
Located at 39 High Street, the property is situated in a prime, transit-oriented location and is approximately an eight-minute walk from the Journal Square PATH Station, which provides direct access to New York City’s Penn Station, The World Trade Center and Newark’s Penn Station. The neighborhood is set to experience sustained growth fueled by the Port Authority’s Journal Square Transportation Center (JSTC) redevelopment initiative, as well as the Jersey City Municipal Council’s Journal Square 2060 Redevelopment Plan, attracting retail, office, hotel, residential and entertainment venues.
The JLL Capital Markets Debt Advisory team was led by Matthew Pizzolato, Max Custer and John Cumming.
“There continues to be tremendous interest from the lending community for high quality and well-located multi-housing properties like 39 High Street,” said Pizzolato.
“Jersey City continues to experience robust renter demand for newly constructed multi-housing properties, and 39 High Street’s luxury unit finishes and building amenities allowed for a very quick absorption period,” added Custer.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit our newsroom.
MORRISTOWN – JLL Capital Markets announced today that it has arranged the $18.625 million refinancing of 39 High Street, an 83-unit multi-housing community located in the Journal Square neighborhood of Jersey City, New Jersey.
JLL represented the borrower, a partnership between Spitzer Enterprises and Titanium Realty Group, to secure the fixed-rate loan through a correspondent life insurance company.
Newly constructed in 2023, the six-story community features market-rate units with studio, one-, two- and three-bedroom layouts, along with an 18-space parking garage. The property’s amenity package includes a communal fitness center, children’s playroom, tenant lounge and an expansive rooftop terrace with New York City views.
Located at 39 High Street, the property is situated in a prime, transit-oriented location and is approximately an eight-minute walk from the Journal Square PATH Station, which provides direct access to New York City’s Penn Station, The World Trade Center and Newark’s Penn Station. The neighborhood is set to experience sustained growth fueled by the Port Authority’s Journal Square Transportation Center (JSTC) redevelopment initiative, as well as the Jersey City Municipal Council’s Journal Square 2060 Redevelopment Plan, attracting retail, office, hotel, residential and entertainment venues.
The JLL Capital Markets Debt Advisory team was led by Matthew Pizzolato, Max Custer and John Cumming.
“There continues to be tremendous interest from the lending community for high quality and well-located multi-housing properties like 39 High Street,” said Pizzolato.
“Jersey City continues to experience robust renter demand for newly constructed multi-housing properties, and 39 High Street’s luxury unit finishes and building amenities allowed for a very quick absorption period,” added Custer.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit our newsroom.
