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| Medina Spiodic |
WASHINGTON, DC -- JLL Capital Markets has secured $20 million bridge financing for Hilliard Village, a 352-unit vintage, garden-style apartment community in Columbus, Ohio.
JLL worked on behalf of the
borrowers, Machine Investment Group and RH, to arrange the three-year,
fixed-rate loan through The Bancorp, Inc.
Machine Investment Group and RH
are opportunistic investors actively seeking distressed opportunities.
Hilliard Village, built in 1973, was sourced off market and had an occupancy
rate of approximately 56% at the time of closing.
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| Jamie Leachman |
Located at 3400 Twin Creeks Dr.,
Hilliard Village is conveniently close to downtown Columbus. Located in the
west side of the city, within the sought-after Dublin and Hilliard submarkets,
the immediate neighborhood is middle-class suburb with a significant number of
manufacturing, warehouse and logistics employers in the immediate vicinity.
Columbus, is a rapidly growing
city driven by strong government activity, a thriving corporate presence and
The Ohio State University. With a population of 2.2 million, it ranks first
among large Midwest metro areas for population and job growth.
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| Carter Wroblewski |
JLL Capital Market’s Debt
Advisory team representing the borrowers was led by Senior Managing Director Jamie
Leachman, Director Medina Spiodic and Director Carter Wroblewski.
CONTACT:
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