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DENVER, April 4, 2018 – JLL's Capital Markets experts today announced the company secured financing for Windbury Apartments, a 264-unit multifamily community in San Antonio, Texas. The 10-year non-recourse loan, secured on behalf of Kansas City-based Eighteen Capital Group, includes funds to pay off the existing loan and to return equity to investors.
Managing Director Baxter Fain and Christina Grimme led the JLL team on the financing.
"CMBS remains an excellent option for apartment borrowers looking for maximum leverage. Long term fixed rate financing is especially appealing in a rising interest rate environment. We are finding on particular multifamily assets, CMBS is more aggressive than the agencies as was the case here" said Fain.
Windbury Apartments, which recently upgraded both interior and exterior amenities, features plenty of outdoor space for pets, off-street parking, a BBQ community area and a swimming pool with sundeck. Located in Northwest San Antonio also gives Windbury Apartments easy access to I-410 and I-10, meaning the San Antonio International Airport is a 15 minute drive away, downtown San Antonio 18 minutes, and a plethora of schools, shopping, dining and entertainment within walking distance. In addition, the apartments rest between two major employment centers, USAA's national headquarters and the South Texas Medical Center. Combined, these campuses employ over 40,000 people.
JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. The division employs over 200 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 multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
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