 |
Harrington Square apartments, a Class A mixed-use
apartment complex located in Leland, NC |
LOS ANGELES, CA – JLL Capital
Markets has secured a $50 million bridge loan for the
refinancing of Harrington Square apartments, a Class A mixed-use apartment
complex located in Leland, North Carolina, within the Wilmington MSA.
JLL
worked on behalf Latitude Management Real Estate Holdings to secure the
four-year, floating-rate bridge loan from Bridge Investment Group Holdings Inc.
 |
| Jalynn Borders |
The
Harrington Square apartments feature a 14-building complex with 349 units,
developed in two phases. The first phase, completed in 2018, includes a 11,375
square foot retail component and 189 apartment units, while the second phase,
finished in 2020, added an additional 144 units. Since acquiring the property
in May 2021, Latitude added an additional 16 units, bringing the total unit
count to 349.
 |
| Brian Halpern |
With
a variety of studio, one-, two- and three-bedroom apartments, the units at
Harrington Square offer an average size of 1,154 square feet.
Residents enjoy a
wide range of amenities, including a resort-style pool, a veranda with TVs and
lounge area, a 24-hour fitness/yoga studio, a dog park, pet wash stations,
on-site laundry facilities, a media room with billiards and gaming, valet trash
services, package locker room and a Starbucks Barista station.
Conveniently
located along Harrington Road, the property also offers easy access to both the
attractions of Wilmington and the beaches of Brunswick County in North Carolina.
The
JLL Capital Markets Debt Advisory team was led by Managing Director Brian
Halpern, Senior Managing Director Jeff Sause, Director Ward Smith, Vice
President Jason Rosin and Associate Jalynn Borders.
 |
| Jeff Sause |
“We
are proud to have facilitated the loan for this luxury apartment complex,” said
Smith. “The refinancing will provide stability and further enhance the
property’s value, reinforcing its role as a premier residential destination in
the Wilmington market.”
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 sales and advisory, debt advisory, equity advisory or a
recapitalization.
The firm has more than 3,000 Capital Markets specialists
worldwide with offices in nearly 50 countries.
For
more news, videos and research resources, please visit JLL’s newsroom.
About Latitude Management Real
Estate Holdings
Latitude
is a private real estate fund manager specializing in multifamily investments
that has successfully closed over $4 billion in transactions across all primary
commercial real estate property types over the past 20 years.
About Bridge Investment Holdings Inc.
Bridge is
a leading alternative investment manager, diversified across specialized asset
classes, with approximately $48.0 billion of assets under management as of
March 31, 2024. Bridge combines its nationwide operating platform with
dedicated teams of investment professionals focused on select verticals across
real estate, credit, renewable energy, and secondaries strategies.
Contact:
Grace
Lewis, JLL PR
Phone: +1
903 520 3478
Email: grace.lewis@jll.com
jll.com.
