Multi-housing community in southwest Colorado financed for $4.95M
JLL Capital Markets arranged the acquisition financing for Lightner Creek Village Apartments in Durango
DENVER, August 4, 2021 – JLL Capital Markets announced today that it has arranged $4.95 million in acquisition financing for Lightner Creek Village Apartments, a 35-unit multi-housing community in Durango, Colorado.
JLL worked on behalf of the borrower, Trailbreak Partners, to secure the fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.
Lightner Creek Village Apartments comprises studio, one-, and two-bedroom units ranging from 496 to 881 square feet. The apartment units feature open concept living areas, large windows, walk-out private decks and in-unit washer and dryer. Community amenities include outdoor gathering spaces, garages, on-site storage units and secured access to the building.
Located at 20310 US Highway 160 W., Lightner Creek Village Apartments is near Twin Buttes biking and hiking trails and Durango Off Leash Dog Park. Residents enjoy turn-of-the-century hotels, the historic railroad, frontier museums and more gourmet restaurants per capita than San Francisco. Durango is in southwestern Colorado near the New Mexico border and has both a vibrant, unique downtown shopping district and large chain and grocery stores for convenience. Area residents enjoy distinct four seasons and a milder climate for Colorado, which makes it perfect for a variety of outdoor activities. Outdoor enthusiasts can explore multiple city parks and open space, along with several lakes and three ski resorts located within 100 miles of the city.
The JLL Capital Markets debt team that represented the borrower was led by Director Rob Bova.
Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.
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 our newsroom.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Trailbreak Partners
Trailbreak Partners is a private equity firm focused on real estate and middle market operating companies. Trailbreak leaves no stone unturned. The firm is meticulous in its approach to investing, constantly monitoring the market for projects that fit its diverse array of expertise. From project inception through completion, Trailbreak Partners executes with strategic vision and institutional control in order to capture value for all stakeholders, every step of the way.