Acquisition financing arranged for Aventon Park West in Savannah
JLL Capital Markets arranged a loan for the Class A multi-housing community
SAVANNAH, Ga., July 14, 2021 – JLL Capital Markets announced today that it has arranged acquisition financing for Aventon Park West, a newly constructed, 295-unit, garden-style multi-housing community adjacent to the Pooler submarket of northwestern Savannah, Georgia.
JLL worked on behalf of a private individual to secure the seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.
Aventon Park West, which was built in 2020, comprises one-, two- and three-bedroom units with an average unit size of 962 square feet. The apartments feature kitchen islands, keyless entry with mobile activation, smart thermostats, washer and dryer, walk-in showers, soaking tubs, large walk-in closets, USB outlets, private balconies and patios and a choice of two highspeed internet/video providers. Community amenities include a saltwater pool with private cabanas; covered terrace overlooking pool; outdoor kitchen and pool bar with grilling stations; outdoor lounge with fire pit; hammock garden and gaming lawn; controlled access; electric vehicle charging stations; fitness center; yoga studio; coworking spaces; club lounge with game room with coffee bar; pet spa and two dog parks; children’s playground; and lakeside walking trails.
Located at 2080 Benton Blvd., the property offers quick access to the I-95 and is just 13 miles from downtown Savannah. Nearby are some of Savannah’s largest employers such as Gulfstream Aerospace, Georgia-Pacific, St. Joseph’s/Chandler and the Port of Savannah. Aventon Park West also features easy access to Savannah International Airport, historic Downtown Savannah and adjacent barrier islands/beaches.
The JLL Capital Markets debt team that represented the borrower was led by Senior Managing Director Marc Schillinger and Associates Jonah Aelyon and Eric Boucher.
“We ran a marketing process to understand which execution would be best between insurance companies, Freddie Mac and Fannie Mae, and, this time, Freddie Mac knocked the ball out of the park,” Schillinger said. “We are very excited that our client was able to purchase this asset with such incredible terms.”
JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales advisory and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.