Crossroads at Town Center, a 141-unit, build-for-rent
townhome community in Jacksonville, FL
MIAMI, FL – JLL Capital Markets has closed the $32.75 million “CofO” acquisition financing of Crossroads at Town Center, a 141-unit, build-for-rent townhome community in Jacksonville, Florida.
JLL
represented the borrower, 360 Communities (Freehold Capital Management) and
PCCP, to secure the loan through Greystar.
The JLL Capital Markets Debt Advisory team was
led by Senior Managing Director Chris Drew, Managing Director Matthew
Putterman, Director Kenny Cutler and Analyst Shane Ciacci.
Shane Ciacci
“Certificate of Occupancy financing facilities
like this one are becoming increasingly necessary as top-tier sponsors like 360
Communities are purchasing single-family communities directly from
homebuilders,” said Drew.
“360 Communities is assembling a tremendous portfolio of
single-family rental communities in the Southeast and across the country and
has been able to partner with experienced institutional groups like PCCP.
"We’re excited to see what
these two great sponsors are able to accomplish with Crossroads at Town Center.”
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| Chris Drew |
At completion, Crossroads at Town Center will feature 141 three-bedroom townhomes, averaging 1,728 square feet.
The homes feature attached garages, covered
lanai porches, private fenced-in backyards, quartz countertops, wood-style
plank flooring, nine-foot ceiling heights, stainless-steel appliances, built-in
washers and dryers and multiple smart home design offerings.
Community amenities include a pool, cabana,
dog park and playground.
The property is ideally situated within
proximity to the St. John Town Center complex, a super-regional lifestyle
center in Jacksonville, Florida with over 175 upscale shopping and dining
options, offering residents incredible access to the area’s top amenities.
Residents will also be next to Deerwood Office Park and within two
miles of 7.2 million square feet of office space.
Matthew Putterman
In addition, the property is strategically positioned as the only for-rent townhome community in the St Johns Town Center micromarket.
JLL’s Capital Markets group 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 sales and advisory, debt advisory, equity advisory or a recapitalization.
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| Kenny Cutler |
The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
About Greystar
Greystar is a leading, fully integrated global real estate company offering expertise in property management, .
Greystar was founded by Bob Faith in 1993 to become a provider of
world-class service in the rental residential real estate business.
Headquartered
in Charleston, South Carolina, Greystar manages and operates more than $290
billion of real estate in 247 markets globally with offices throughout North
America, Europe, South America, and the Asia-Pacific region. 
Bob Faith
Greystar is the largest operator of apartments in the United States, manages more than 857,400 units/beds globally, and has a robust institutional investment management platform comprised of more than $76 billion of assets under management, including over $34 billion of development assets
CONTACT:
Jenna Sharp
JLL,
Public Relations
Capital Markets
Dallas,
Texas
M
+1 214 394 3356
www.Freeholdcm.com
