JLL arranges financing for Overlook Pointe in Broward County
Acquisition loan for multi-housing asset in Pompano Beach, Florida
CHARLOTTE, August 9, 2019 – JLL announces that it has arranged financing for Overlook Pointe, a 249-unit, Class A apartment community in Pompano Beach, Florida.
JLL worked on behalf of the borrower, Bell Partners, to secure the acquisition loan through PNC Real Estate.
Overlook Pointe comprises one six-story residential building and a six-story attached 364-space parking deck. The property offers a pool, various grilling stations with social lounge, a playground, bike storage, valet dry clean service and a dog park. Additional amenities include a top-of-the-line clubhouse that boasts a media center with HDTV’s, a Game-On lounge with billiards, high-tech fitness center with aerobics studio, Wi-Fi café and complimentary coffee bar. Overlook Pointe is located at 4611 N. Federal Highway within one of Broward County’s most affluent submarkets. The property has convenient access to Interstate 95 and is less than five miles from Boca Raton and 13 miles from downtown Fort Lauderdale. Additionally, the property offers immediate proximity to major employers, an abundance of retail shopping, including Whole Foods, Trader Joe’s and Fresh Market grocery stores, and a multitude of restaurants and entertainment options.
The JLL Capital Markets team representing the borrower included Senior Managing Director Travis Anderson, Managing Directors Roger Edwards and Elliott Throne and Senior Director Cory Fowler.
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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Deal secured by Holliday GP Corp. prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
About Bell Partners
Established in 1976, Bell Partners Inc. ("Bell Partners" or the "Company") is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily communities throughout the United States. With approximately 55,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has nearly 1,300 associates and eight offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full-service platform containing expertise in acquisitions and dispositions, construction, financing, property operations, accounting, risk management and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $15 billion of apartment transactions since 2002, including nearly $2 billion in 2018 transactions. For more information, visit our website at www.bellpartnersinc.com.