News release

Acquisition financing secured for the Hampton Forest apartments in FL

JLL Capital Markets arranged the $14.02M acquisition financing on behalf of American Commercial Realty

May 25, 2021

MIAMI, May 25, 2021 – JLL Capital Markets announced today it has arranged a $14.02 million acquisition financing for Hampton Forest, a value-add, multi-housing property located in Gainesville, Florida.

JLL represented the borrower, American Commercial Realty, to secure the acquisition financing through the lender, Ready Capital.

American Commercial Realty has updated four of its acquired properties in Gainesville since 2020 and will also implement an extensive capital enhancement plan for Hampton Forest. Unit upgrades include modernizing kitchens, installing new major appliances and new flooring. The borrower will also update the exterior of the building, including new landscaping, painting and lighting, and add new community amenities including the installation of a dog park and grilling areas.

Built in 1977, Hampton Forest consists of 152 one- and two-bedroom units and currently features a community swimming pool.

Located at 7301 W University Ave., the Hampton Forest apartments are less than one mile away from an I-75 on-ramp, providing excellent access to both Orlando and Tampa, which are roughly 100 miles away. The property is 4.5 miles from Butler Plaza, a 2-million-square-foot, mixed-use retail center; Celebration Pointe, a 1-million-square-foot, mixed-use entertainment district; Tioga Town Center; and downtown Gainesville. Hampton Forest is also just 1.3 miles from North Florida Regional Medical Center, a major 510-bed acute care hospital. Additionally, Gainesville is best known as home to The University of Florida, academically the #6 ranked public university in the nation with a 2020 student enrollment of nearly 58,000.

The Ready Capital team was represented by David Cohen and Harris Teiger.

“Our objective as a structured bridge lender was to provide the sponsor with an optimal loan structure for this multi-housing asset,” stated Cohen. “In this market, we were able to align well with their business plan to meet their closing timeline with certainty of execution through our upfront approval process.”

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Elliott Throne and Director Jesse Wright.

“American Commercial Realty is in a great position to leverage the very successful renovation strategy they just completed on their local Hammocks portfolio with the purchase and repositioning of this deal,” stated Throne. “Ready Capital’s attractive bridge loan terms will fully support this endeavor.”

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 deliver best-in-class solutions for clients — whether investment sales 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.

For more news, videos and research resources on JLL, please visit our newsroom.

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 $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

About Ready Capital 

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. “Ready Capital” is a trade name encompassing ReadyCap Lending, LLC, ReadyCap Commercial, LLC, and other businesses operated by Ready Capital Corporation. Ready Capital lends on multi-family housing and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. Ready Capital is a non-bank lender that has originated over $7 billion in commercial real estate loans nationwide. Ready Capital is an approved Freddie Mac Small Balance Loan (“SBL”) lender, an SBA Preferred Lender and Ready Capital Corporation provides residential mortgage lending through its wholly-owned subsidiary, GMFS Inc. Headquartered in New York, New York, Ready Capital Corporation employs over 400 lending professionals nationwide. The Company is externally managed and advised by Waterfall Asset Management, LLC.

About American Commercial Realty

American Commercial Realty (ACR) boasts a 42-year track record as an investor and operator of income producing real estate properties throughout much of the US, with an emphasis on multifamily properties in Florida, the Southeast and the Midwest. American Commercial Realty is led by industry veteran Rick Baer. ACR and its affiliated entities, including third party investors, own and/or operate properties totaling approximately 2.6 million square feet. For more information, visit