News release

$51M financing secured for newly built apartment community in Northern California

JLL Capital Markets arranged the construction takeout financing for the 204-unit Mossdale Landing Apartments in Lathrop, California 

November 28, 2023

Jenna Sharp

Capital Markets PR
+1 214 438 6450

LOS ANGELES, Nov. 28, 2023 – JLL Capital Markets announced that it has arranged the $51 million construction takeout financing for Mossdale Landing Apartments, a recently completed, Class A, 204-unit, garden-style apartment community located in Lathrop, California.

JLL represented the borrower, Mossdale Landing Owner LLC, a company comprised of Rubik Built, Wright Equities and The Grupe Company, to secure the three-year bridge loan through MF1 Capital.

Completed in summer 2023, the 10-building Mossdale Landing Apartments features one-, two- and three-bedroom units with high-end interiors, spacious private balconies/patios and in-unit washers and dryers. Community amenities include a luxury pool and spa with lounge seating area, dog spa with grass area, deluxe fitness studio, gated entrance, a meditation room, a game room and barbecue grilling stations with covered modern furnishings.

Situated at 18008 Golden Valley Pkwy, Mossdale Landing is located on a 9-acre site along Highway 5 and is just two miles from the regional ACE rail station, allowing an easy commute to the major employment hubs in Bay Area. Numerous top employers are within a 10-minute radius of the site, including Kaiser Permanente, Tesla and Amazon. The property is also just a two-minute drive from the 185,000-square-foot Lathrop Towne Center retail development and the under-construction retail at Lathrop Marketplace, along with several other large retail centers and parks. It also borders the 5,000-acre River Islands community development, which will consist of 11,000 homes, a town center and an employment center that will provide thousands of new jobs for residents.

The JLL Capital Markets Advisory Team representing the borrower was led by Senior Managing Director Jeff Sause, Director Lillian Roos and Analyst Jalynn Borders.

“The sponsor team has done an exceptional job delivering highly amenitized, Class A product into the supply-constrained submarkets of the Central Valley, exemplified by the impressive leasing demand at Mossdale and their other nearby projects,” said Roos.

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 and sales 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.

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About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Rubik Built

Rubik Built prides themselves on delivering practical, innovative and quality development services to create better communities. Vertical integration, a client-first approach and safety are at the core of their operations. They achieve difficult, conceptual designs across multifamily, commercial and residential construction.​

Based in the Central Valley of California, their foundations are built on a diverse team of skilled builders and developers with global experience who understand the need for a company that comprehends the entire 360-degree development cycle and is powered by positive solutions. Forward thinking and technology driven, Rubik Built is backed by over 25 years of experience in the industry and are known for their powerful solutions and distinguished expertise of the region they operate in.

Rubik Built, LLC (www.rubikbuilt.com) specializes in new construction, construction management, and has performed well over 500 million dollars in various multifamily projects. They have been serving the needs of the Central Valley for almost 15 years and are a licensed, bonded, and insured company which gives customers the assurance of professional and quality craftsmanship.  They currently employ 500+ people consisting of several crews; each crew comes with a competent and experienced project managers, superintendent and foreman to ensure projects runs smoothly and timely. 

About Wright Equities

Founded in 2008, Wright Equities, Inc. (www.wrightequities.com/) is a family-run real estate company operating a vertically integrated platform that acquires, develops and operates apartment communities throughout the Central San Joaquin Valley and Central Coast of California.

Since 2008, Wright Equities (and its subsidiaries) has acquired and/or developed over 2,160 apartment units valued at over $500MM. The management division operates these assets and also offers Third Party Management for Owner’s in similar Asset Classes.

The vertical integration allows Wright Equities to manage efficiently and effectively while being conscious of minimizing liability risk and maximizing the bottom line. Wright Equities Team consists of over 50 qualified Members whom perform all phases of acquisition, development and management processes. 

About The Grupe Company

The Grupe Company (www.grupe.com/) is a master of planning and innovation. In their quest to build legacy communities of enduring value, they look to create living environments of extraordinary beauty. Across more than 12 master-planned communities, the company has created more than 50,000 homes in 35 cities nationwide, established more than 400 acres of lakes, preserved wildlife habitat areas and open spaces, created more than 200 parks and 20 miles of trails and planted more than 500,000 trees. 

For more than five decades, the experience and creativity of the Grupe team have significantly contributed to the American standard of living. Whether it’s helping to place families in homes, enhancing the energy efficiency of homes, crafting lasting residential communities or creating and managing commercial properties, the Grupe name has become synonymous with a superior quality of life through the communities and spaces they build.