JLL arranges financing for Jemison Flats

DALLAS, January 13, 2020 – JLL Capital Markets announced today that it has arranged acquisition financing for Jemison Flats, a historic, seven-story, 59-unit apartment building in downtown Birmingham, Alabama.

JLL worked on behalf of the borrower, Highland Real Estate Capital, to secure the three-year, floating-rate loan through Bridge Investment Group.

Jemison Flats is located at 1827 1^st Avenue in Birmingham’s Theater District. The property is also two blocks from Railroad Park, Regions Ball Park and the freshly renovated Powell Avenue Steam Plant. Originally completed in 1928, the recently renovated building includes a mix of studio and loft-style apartments that offer dramatic views of downtown and South Side. Units feature original hardwood floors, exposed beam ceilings, stainless steel appliances, concrete countertops and in-unit washers and dryers. Common area amenities include a fitness center, gated private park with grilling area and parking deck.

The JLL Capital Markets team representing the borrower was led by Managing Director Mark Brandenburg and Associate Chad Russell.

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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