News release

Asia Capital Real Estate refinances and continues Arbor Ridge renovations

JLL Capital Markets arranges the $17.194M loan for the multi-housing property in Athens 

September 08, 2020

ATLANTA, September 8, 2020 – JLL Capital Markets announced today that it has arranged $17.2 million in refinancing for the Arbor Ridge multi-housing property located at 150 Chateau Terrace in Athens, Georgia.

JLL worked on behalf of the borrower, Asia Capital Real Estate (ACRE), to secure the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. ACRE acquired the property in December 2018 and performed an extensive renovation, which successfully raised the profile of the asset.

Arbor Ridge consists of one-, two- and three-bedroom apartments, totaling 212 units. Community amenities include a pool, fitness center, business center, laundry facility, pet park and clubhouse. In-unit amenities include energy-efficient windows, French doors, over-sized closets and private balconies, with select units having stainless steel appliances and access to washer and dryer connection. 

Arbor Ridge is located immediately off Route 78 in the West Athens submarket of Athens with proximity to all of the major largest employers in the city. Arbor Ridge is located several miles from the University of Georgia, a public university with an enrollment of over 38,000 students and over 10,700 employees. Founded in 1785, the University of Georgia is one of the oldest public universities in the United States. The Property is also under two miles away from St. Mary’s Health System, which is one of the largest private employers in Athens with 2,100 high-paying jobs. Athens is known for its eclectic mix of southern heritage, modern attractions and a vibrant arts scene.

The JLL Capital Markets team representing the borrower was led by Directors Jesse Wright and Ware Shipman. 

"This deal is a testament to the confluence of very shrewd investing by the borrower, and the historically attractive rates from the agencies today which lead to a sub 3.00% loan and cash back to the borrower,” says Wright. “We were thrilled to have the opportunity to assist them with this element of their business plan.”

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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About JLL

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

About Asia Capital Real Estate (ACRE)

Founded in 2011, ACRE is a global real estate private equity firm managing capital for institutional and family office investors through a series of private equity and debt funds with AUM exceeding $2.1 billion. A specialist investor in multifamily housing with a vertically integrated platform, ACRE’s strategies focus on direct real estate equity and credit investments and are concentrated in the United States, with additional properties currently in development in Southeast Asia and the United Kingdom. Since inception, ACRE has acquired, operated, developed and made loans on over 22,000 apartments across 75 properties and 31 cities.