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

 

JLL secures equity and debt financing on behalf of Turnbridge Equities for Bronx Logistics Center

Bronx Logistics Center, a 14.2-acre development site located at 980 East 149th Street in the Bronx, NY

NEW YORK, NY — JLL Capital Markets announced it has secured Dune Real Estate Partners as a joint venture equity partner and $105 million of predevelopment debt  financing on behalf of Turnbridge Equities for Bronx Logistics Center, a 14.2-acre development site located at 980 East 149th St. in the Bronx.

Kristin Knapp

 The development site is strategically positioned in the Hunts Point submarket with access to over 17 million people within a half-hour drive.

Christopher Peck

Representing Turnbridge Equities in the equity recapitalization were Senior Managing Director Andrew Scandalios; Senior Director Tyler Peck; and Vice President Thomas Pryor.

JLL’s Senior Managing Director Christopher Peck; Senior Director Peter Rotchford; and Vice President Kristin Knapp arranged the debt financing.

The proposed development Bronx Logistics Center will be a state-of-the-art, 1.2-million-square-foot, four-story last-mile distribution facility featuring 70 loading docks, 1,400 parking spaces and clear heights up to 28 feet.

Bronx Logistics Center is conveniently located close to I-278, which offers easy connection to I-87 and I-95, and is less than two miles from the Hunts Point Food Distribution Center, one of the largest wholesale distribution centers in the world.

Andrew Scandalios

“Same-day delivery is expected to increase from 2 percent to over 25 percent of e-commerce transactions by 2025, which has now accelerated due to the COVID-19 pandemic,” Scandalios said. 

 “This facility’s location, access to rail and market-leading property specifications position it as a best-in-class multi-story logistics facility poised to capitalize on the increasing need for rapid delivery times to consumers.”

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.

Tyler Peck

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Contact:

 George Shea, Mark Faris

Company: Shea Communications

Phone: +1 212 627 5766

Email: mfaris@sheacommunications.com

jll.com.