Agency loan secured for Naples apartment community
JLL Capital Markets led the $29.4M refinancing for the Alvista Golden Gate property
MIAMI, September 9, 2020 – JLL Capital Markets announced today that it has arranged a $29.4 million refinancing for Alvista Golden Gate, a 200-unit, recently renovated multi-housing community in Naples, Florida.
JLL worked on behalf of the borrower to originate the 12-year, fixed-rate Fannie Mae loan through the Green Financing program. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.
Alvista Golden Gate is located at 1600-1656 Wellesley Circle, just north of Interstate 75 in the Golden Gate area of Naples. The 95%-leased community is directly across from the Golden Gate Community Park and a short distance to several award-winning golf courses, such as the Coastland Center Mall and Fifth Avenue. Situated on a lushly landscaped 17.3-acre site, Alvista Golden Gate offers residents a resort-style swimming pool with large sun deck, walking trails, community clubhouse, car care center, picnic and bbq areas and a fenced in dog-park. The pet-friendly units were renovated in 2019 and are available in one- or two-bedroom layouts featuring private lanais, in-unit washer dryers and central air conditioning.
The JLL debt placement team representing the borrower was led by Senior Managing Director Elliott Throne and Director Jesse Wright.
“Following their acquisition and enhancement of the property, the borrower further strengthened the position of Alvista Golden Gate with a very attractive long-term financing that will serve them well for many years to come,” Throne stated.
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 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. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.
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 $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.