Saturday, July 11, 2020

Bethesda, MD apartment community receives $34.2 5 million refinancing


Element 28 Apartments, 100 Commerce Lane, Bethesda, MD

WASHINGTON, DC – JLL Capital Markets announced it has arranged a $34.25 million refinancing for Element 28, a 101-unit, best-in-class boutique apartment building with 3,500 square feet of ground-floor retail space in Bethesda, Maryland.

JLL worked on behalf of the borrower, a partnership between institutional investors advised by J.P. Morgan Asset Management and KETTLER, to place the three-year, floating-rate loan with two one-year extension options with MetLife Investment Management. Loan proceeds will be used to refinance existing debt.

Constructed in 2017, Element 28’s mix of one- two- and three-bedroom units features best-in-class unit features. They include Bosch and Thermador appliances with paneled refrigerators and dishwashers, designer lighting package with island pendants and kitchen task lighting

Also, MechoShade blinds, white quartz and granite countertops, glass kitchen backsplashes, wood plank flooring, private terraces, custom closet shelving and stone-tiled spa showers and soaking tubs.

Kellogg (Kelly) Gaines 

 Community amenities include a 24-hour concierge, WiFi lounge with complimentary coffee, temperature-controlled wine lockers, conference room fitness studio, retractable glass-walled rooftop lounge, green roof areas, plaza accessible bike parking, bike storage and transit screen providing real time status of transit options.
Jennifer Keller

Element 28 is at 100 Commerce Lane, an irreplaceable location steps from the intersection of Wisconsin Avenue and Old Georgetown Road in Bethesda’s live-work-play area.

 With a WalkScore® of 95, which categorizes the property as a “Walker’s Paradise,” Element 28 is one block from the Bethesda Metro Station and near the high-end shopping at Bethesda Row and Woodmont Triangle.

Jamie Leachman 

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Managing Director Kelly Gaines, Senior Director Jennifer Keller, Managing Director Jamie Leachman and Associate Amy Lousararian.

“The strength of the sponsorship, Class A+ product and core location in one of the most sought-after markets in the D.C. Metro all contributed to tremendous interest from the lending community,” Leachman said.

“JLL is thrilled to have helped the partnership close this transaction with Met Life, who performed flawlessly and never wavered during these uncertain times.”

Amy Lousararian
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.

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


CONTACT:
Kimberly Steele
 JLL Senior Associate
 Public Relations
Phone: +1 713 852 3420

Dream Finders Homes Opens New Townhomes at its Newest Master Planned Community of SilverLeaf in St. Augustine, FL


Holly Forest Townhome model at Dream Finders Homes'  master-planned community of SilverLeaf at 102 Pine Bluff Drive
near the intersection of 
St. Johns Parkway and County Road 210, 

St. Augustine, FL


ST. AUGUSTINE, FL – Five professionally decorated Holly Forest Townhome models are open and ready for viewing at Dream Finders Homes' master-planned community of SilverLeaf at 102 Pine Bluff Drive near the intersection of St. Johns Parkway and County Road 210.

The new one and two-story maintenance-free townhomes with from 1,239 to 2,081 square feet offer flexible floor plans that range from two to four bedrooms, two to two-and-a-half bathrooms, and one or two car garages, according to Brad Muston, division president of Dream Finders Homes.  Prices begin at $205,990.

Brad Muston
“SilverLeaf is an 8,500-acre development with 3,500 of those acres in conservation,” Muston said. “When you build in SilverLeaf, you can be part of a lifestyle with more than a million square feet of residential, lifestyle and retail space.”

Sixty-six homesites are available for the townhomes, with monthly HOA fees of only $251 that covers lawn maintenance, landscaping and exterior paint.

 The fee also includes amenities like three swimming pools, a splash pad, children’s playground, tennis and pickleball courts, a dog park and event lawn, he added.

“In addition to townhomes, we also offer single-family homes at SilverLeaf,” Muston said. “Whether you decide on a townhome or a single-family home, both will offer designer features that will help you customize your dream home in this much sought-after community.”

 CONTACTS:

Brad Muston, Division President, Dream Finders Homes,

Jassy Friddle, Director of Marketing, Dream Finders Homes,

Beth Payan, Larry Vershel Communications
407-644-4142 or 407-461-3781; beth@larryvershel.com