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| Amber Ridge Apartments, 2421 Foothill Boulevard in the greater Los Angeles area of La Verne, CA |
NEWPORT
BEACH, CA – JLL Capital Markets announced the
arrangement of a $30.58 million loan regarding the acquisition of the Amber
Ridge Apartments located at 2421 Foothill Boulevard in the greater Los
Angeles area of La Verne, California.
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| Greg Brown |
JLL
worked on behalf of the borrower, Silver Star Real Estate, to secure the
10-year, floating-rate loan through Freddie Mac.
The loan will be serviced by
Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac
Optigo℠ lender.
Amber
Ridge Apartments consist of 147 garden-style units and is located in the La
Verne suburb of Los Angeles.
With breathtaking mountain views, the apartment
community is near various retail, restaurants and entertainment and about 30
miles from the downtown area.
Boasting
a combination of both modern and classic apartment styles, Amber Ridge has a
heated swimming pool, 24-hour fitness center, barbeque area with outdoor
entertainment such as picnic areas, two playgrounds, a clubhouse and more.
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| Nicolas (Nick) Lench |
“We
were pleased to deliver our client with excellent rate and terms while working
through the closing of this loan during the peak of the COVID-19 pandemic,”
said Brown.
“The attractive loan terms will allow them to execute their business plan and drive their returns.”
“The attractive loan terms will allow them to execute their business plan and drive their returns.”
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.
 |
| Charlie Vorsheck. |
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For
more news, videos and research resources on JLL, please visit our newsroom.
CONTACT:
Natalie
Passarelli
JLL
Senior Associate
Public Relations
Phone: +1
(224) 477-7307
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