Miami apartments refinanced with $50.47M agency loan

MIAMI, January 11, 2021 – JLL Capital Markets announced today that it has arranged a $50.47 million refinancing for Lincoln Pointe Apartments, a 285-unit multi-housing community in Aventura, Florida.

JLL worked on behalf of the borrower, a partnership between LCOR and Madison International Realty, to secure the floating-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Situated on one Miami’s beautiful intracoastal waterways, Lincoln Pointe Apartments consists of four, three-story residential buildings offering one- and two-bedroom floor plans averaging 904 square feet each. All of the units are pet-friendly and feature screen-enclosed patios with storage, while select units offer in unit washer/dryers, vaulted ceilings and scenic views. Community amenities include a clubhouse with billiards room, fitness center and business center, a resort-style swimming pool and a yacht viewing deck, all within a private gated-community.

Lincoln Pointe Apartments is located at 17900 NE 31^st Ct. in Aventura, halfway between Fort Lauderdale and Miami. This location offers quick access to Biscayne Boulevard and I-95, and is within a short commute of major employment hubs, including Aventura Hospital and Medical Center, N.M.B. Commerce Center and FIU Biscayne Bay Campus.

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

“After buying a unique waterfront asset and further enhancing the experience offered to residents, the Borrower was rewarded with a great new loan that capitalizes on today’s very attractive terms and provides long term stability for the property”, stated Throne.

“We are thrilled to have the opportunity to work with an exceptional sponsorship team and help them procure an accretive financing solution from Freddie Mac”, added Klein.

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales advisory and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities. 

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 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.

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