Asia Capital Real Estate refinances to continue Arbor Ridge renovations in Atlanta, GA

Jesse Wright

ATLANTA, GA – JLL Capital Markets announced it has arranged $17.2 million in refinancing for the Arbor Ridge multi-housing property located at 150 Chateau Terrace in Athens, Georgia

 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

 The JLL Capital Markets team representing the borrower was led by Directors Jesse Wright and Ware Shipman.

”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

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com