Saturday, June 15, 2024

JLL Capital Markets leads $6 million financing efforts for Benjamin Square, a 60-unit affordable housing community in Eaton, CO

Benjamin Square, a 60-unit affordable
 housing community in Eaton, CO
  

DENVER, CO JLL Capital Markets has arranged $5.8 million in financing for Benjamin Square, a 60-unit affordable housing community in Eaton, Colorado.

 

Brock Yaffe

JLL represented the borrower, Brikwell, to secure the fixed-rate senior loan through Freddie Mac Multifamily. 


JLL and Freddie Mac were able to craft a structure that provided the borrower time to renew and extend the Project-Based Section 8 HAP contract prior to acquisition and loan closing, preserving affordability at Benjamin Square for 20 years.


The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.

 

Benjamin Square consists of 10 single-story buildings that are 100% Section 8 / affordable housing. The property was completed in 1979 and 1980 and offers all one-bedroom units. Community amenities include a laundry room, community lounge and a covered gazebo/picnic area.


Tony Nargi.
Located at 55 Juniper Ave., Benjamin Square is close to downtown Greeley, Colorado, and about an hour north of Downtown Denver. 


The 2.86-acre site is adjacent to Eaton Elementary School, Middle School and High School is a primarily residential area of the community.

 

JLL’s Debt Advisory team representing the borrower was led by Managing Directors Brock Yaffe and Tony Nargi.

 


For more news, videos and research resources on JLL, please visit our newsroom.

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Contact:

 

 Kristen Murphy

JLL Director

 Public Relations

Phone: +1 617 543 4873

Email:  Kristen.Murphy@jll.com

 

Brikwell.com.

 jll.com

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