JLL secures $24.9 million financing for Atlanta apartment community

Jamie Leachman

WASHINGTON DC – JLL announces it has secured $24.9 million in acquisition financing for 251 North, a 192-unit, garden-style property located at the juncture of Atlanta’s Midtown, Old 4^th Ward and East Atlanta neighborhoods.

Working on behalf of Taurus Investment Holdings, LLC, JLL arranged 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. JLL also arranged the sale of the property to Taurus Investment Holdings.

251 North is located at 300 Cityline Avenue NE adjacent to outdoor recreation at Renaissance Park and Central Park. 

In addition, the property is near Midtown Atlanta’s job market and some of the city’s most popular entertainment and restaurants, including the Atlanta Beltline and Ponce City Market. 

Originally completed in 1989, the property consists of one- and two-bedroom floor plans that feature spacious layouts, walk-in closets and options for duplex/loft units. 

Community amenities include a resort-style pool, outdoor grilling station, cardio-based fitness center, 24/7 laundry facility and covered parking. 251 North was more than 93% occupied at closing.

Ware Shipman

The JLL Capital Markets team representing the borrower was led by senior director Jamie Leachman and director Ware Shipman.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

 CONTACTS:

 Jamie Leachman, JLL Senior Director

Phone:  +1 202 533 2524

Email: Jamie.Leachman@am.jll.com

 Ware Shipman, JLL Director

Phone:  +1 404 942 2219

Email: Ware.Shipman@am.jll.com

 Olivia Hennessey, JLL Public Relations Specialist

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

 www.tiholdings.com

 jll.com.