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| Mona Carlton |
MIAMI, FL – JLL Capital Markets has arranged $5.9 million in supplemental financing for the 288-unit Club at Danforth in Jacksonville, Florida, and $5 million in supplemental financing for the 210-unit Verandahs at Hunt Club in Apopka, Florida.
This is the second supplemental financing for
Verandahs at Hunt Club.
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| Elliott Throne |
JLL represented the borrower, Beachwold Residential, to secure the sub-seven-year, fixed-rate supplemental loans through Freddie Mac Multifamily.
The loans will be serviced by Jones Lang LaSalle
Multifamily, LLC, a Freddie Mac Optigo℠ lender.
The JLL debt team was led by Senior Managing
Director Elliott Throne, Senior Managing Director Mona Carlton,
Director Kenny Cutler and Analysts Joshua Odessky and Karim
Khaiboullin.
“The ability to procure supplemental loans on
top of existing senior financing is one of the primary benefits of agency loans
like these,” Cutler said.
“Beachwold has done a fantastic job managing these properties and
taking advantage of increasing market rental rates, allowing them to pull out
substantial equity in the process.”
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| Kenny Cutler |
Built in 1998 and updated in 2018, Club at Danforth is a garden-style apartment community consisting of 16 residential buildings and one leasing office.
Community amenities include a playground, fitness
center, swimming pool, dog park, racquetball and basketball courts, a clubhouse
and business center.
Completed in 1985, Verandahs at Hunt
Club is a garden-style multi-housing community with 21 two-story
residential buildings, one clubhouse and one maintenance building.
Community amenities include a pool, fitness
center, tennis court, dog park and car care center. Both properties offer one-,
two-, and three-bedroom units to residents.
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| Joshua Odessky |
The property is within a 10-minute drive of Deerwood Park, Jacksonville’s largest suburban white-collar employment hub, and under two miles from the Mayo Clinic Jacksonville.
The location is also within 10 minutes of St.
Johns Town Center, north Florida’s premier shopping and entertainment
destination.
Verandahs at Hunt Club is located at 3000
Foxhill Circle, set strategically off SR-436 and less than four miles west of
I-4.
The proximate corridor along SR-436 offers some of Orlando MSA’s largest retail destinations, such the Altamonte Mall, a 1.2-million-square-foot regional mall.
The community is also adjacent to and walking distance from Hunt Club Corners,
a recently renovated Publix-anchored shopping center.
Additionally, there is approximately 10.7
million square feet of office within a five-mile radius.
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| Karim Khaiboullin |
The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.
JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.
Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.
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| 288-unit Club at Danforth apartments, Jacksonville, FL |
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization.
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| 210-unit Verandahs at Hunt Club apartments Apopka,FL |
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JLL, please visit our newsroom.
CONTACT:
Jenna Sharp,
JLL Associate,
Public Relations
Phone: +1 214 394 3356
Email: Jenna.Sharp@am.jll.com
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