 |
| Jesse Wright |
JLL
worked on behalf of the borrower, Asia Capital Real Estate (ACRE), to secure
the 10-year, floating-rate loan through Freddie Mac.
The loan will be serviced
by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.
ACRE
acquired the property in December 2018 and performed an extensive renovation,
which successfully raised the profile of the asset.
Arbor Ridge
consists of one-, two- and three-bedroom apartments, totaling 212 units.
Community amenities include a pool, fitness center, business center, laundry
facility, pet park and clubhouse.
In-unit amenities include energy-efficient
windows, French doors, over-sized closets and private balconies, with select
units having stainless steel appliances and access to washer and dryer
connection.
 |
| Ware Shipman |
Arbor Ridge is located
immediately off Route 78 in the West Athens submarket of Athens with proximity
to all of the major largest employers in the city.
Arbor Ridge is located
several miles from the University of Georgia, a public university with an
enrollment of over 38,000 students and over 10,700 employees.
Founded in 1785,
the University of Georgia is one of the oldest public universities in the
United States. The Property is also under 2 miles away from St. Mary’s Health
System, which is one of the largest private employers in Athens with 2,100 high
paying jobs.
Athens is known for its eclectic mix of Southern
heritage, modern attractions and a vibrant arts scene.
 |
| University of Georgia, Athens, GA |
”This deal is a testament to the confluence of very shrewd
investing by the borrower, and the historically attractive rates from the
agencies today which lead to a sub 3.00% loan and cash back to the borrower,”
says Wright. “We were thrilled to have the opportunity to assist them with this
element of their business plan.”
Contact:
Natalie
Passarelli
Public Relations
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
Chicago, IL 60601
M +1 224 477 7307
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