JLL arranges $20.1M financing for Jacksonville office asset

JACKSONVILLE, April 13, 2020 – JLL Capital Markets announced today that it has arranged a $20.1 million refinancing for One Deerwood, a 161,167-square-foot, Class A office building in Jacksonville, Florida.

JLL worked on behalf of the borrower, an affiliate of Boston-based Taurus Investment Holdings, LLC, to secure the three-year, floating-rate bridge loan with Prime Finance.  

One Deerwood is located at 10201 Centurion Parkway within Jacksonville’s prestigious Butler/Baymeadows submarket. The property has a highly visible and accessible location near the interchange of J Turner Butler Boulevard/Route 202 and Southside Boulevard and is surrounded by a robust amenity base, including St. Johns Town Center. Renovated in 2017, the six-story building is 88% leased.

The JLL Capital Markets team representing the borrower included Senior Directors Porter Terry and Tarik Bateh.

“The closing took place in the midst of the current unrest in the financial markets and both Taurus and Prime worked diligently through those challenges to get the transaction closed,” Terry said.  

“Having both a best-in-class and cycle-tested borrower and lender allowed JLL to close a transaction in an extremely challenging environment,” Bateh added.               

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.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Taurus is a global real estate private equity firm with over 40 years of experience as a general partner, investor, and operator. Currently active in the United States, Western Europe, Asia, and South America, the firm makes strategic investments into value-add, core-plus, and development opportunities. Throughout North America and Europe, Taurus is consistently recognized as one of the premier owner operators of both directly managed and joint venture commercial real estate. To date, Taurus has purchased and developed more than 47 million square feet of residential, office, industrial, retail and other commercial real estate assets throughout the world with a total value of over $7.3 billion. tiholdings.com

Prime Finance was founded in 2008 and has grown to be a leading private commercial real estate lender. Prime Finance has originated more than 450 loans totaling over $13 billion on commercial properties in the US. Prime lends on a broad range of property types including office, apartment, hospitality, industrial, retail and student housing. Prime’s originations teams are located in New York, Chicago, and San Francisco. For further information, please visit primefinance.com.