JLL Capital Markets secures 7-year refinancing loan for Arcadia Street Capital on Parkside Heights, a garden-style Class A apartment community in Lexington, KY

 

Parkside Heights, a 149-unit, Class A apartment community
built between 2020 and 2021 in Lexington, KY

DENVER, CO –  JLL Capital Markets has secured  refinancing for Parkside Heights, a 149-unit, Class A apartment community built between 2020 & 2021 and located in Lexington, Kentucky.

 

JLL worked on behalf of Arcadia Street Capital to originate the seven-year fixed rate, interest only Fannie Mae loan. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender.

 

 Kristian Lichtenfels 

Situated at 320 Hannah Todd Place, Parkside Heights enjoys close proximity to downtown Lexington, major employer hubs, shopping, entertainment options, St. Joseph's hospital and multiple golf courses. With a median household income of $99,142 in a one-mile radius, Parkside Heights is located in an affluent suburb sought after by a prosperous demographic.

Lexington, known as the horse capital of the world, has a population of over 300,000 residents. Situated close to Louisville and Cincinnati, the town is home to major employers like Lexmark International, Toyota Motor Manufacturing, Valvoline World and the University of Kentucky.

 

Spanning over 9.42 acres, Parkside Heights’s total building area comprises of 166,867 square feet with 255 parking spaces. The four-building community was built between 2020-2022, and currently boasts an impressive 98% occupancy rate.

Nelson Almond.

Residents of this garden-style complex enjoy a host of convenient amenities including a fitness center, pool, clubhouse and on-site maintenance. 

Each one-, two- and three-bedroom unit is thoughtfully designed with in-unit washers and dryers, spacious walk-in closets, balconies and patios, granite countertops and LTV flooring.

 

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Kristian Lichtenfels and Director Nelson Almond.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

 

 

CONTACT:

 

Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877 us.jll.com/capitalmarkets Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413