JLL Capital Markets Team Secures Joint Venture Equity & Construction Financing for the Development of Eckington Yards
JLL has advised JBG-Smith in securing co-development joint venture equity and construction financing for the development of Eckington Yards.
Washington, DC, January 15, 2019– JLL announces today that it advised JBG Smith in securing co-development joint venture equity and construction financing for the development of Eckington Yards in Washington, DC. Eckington Yards is a transformative mixed-use development that will consist of 457 multi-family units, 179 condominium units, 45 townhomes and 72,000 square feet of retail space (86% committed to Brooklyn Boulders and Union Kitchen). JBG Smith secured co-development joint venture equity from LCOR and construction financing from Bank OZK
“Eckington Yards is a truly transformative project located at the epicenter of one of Washington, DC’s most active and dynamic neighborhoods,” stated John Duffy, Executive Managing Director, JLL. “The investment in such a unique mixed-use development in the District with one of the region’s premier developers was a tremendous opportunity for LCOR.”
The JLL Capital Markets team, led by Duffy and Bob Donhauser, represented JBG Smith in the deal. Construction is expected to be completed in the first quarter of 2020.
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 a sale, financing, repositioning, advisory or recapitalization execution. In 2017 alone, the firm’s 2,400 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.
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 over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com