West Line Village Apartments development receives $42.5M loan

JLL arranges financing for the 281-unit multi-housing project in Lakewood, Colorado, on behalf of Trailbreak Partners and Highland Development Company

February 05, 2020

DENVER, February 5, 2020 – JLL Capital Markets announced today that it has arranged the $42.5 million construction loan for the development of West Line Village Apartments, a 281-unit, Class A multi-housing community in the Denver suburb of Lakewood, Colorado.

JLL worked on behalf of the developer, a joint venture of Trailbreak Partners and Highland Development Company, to secure floating-rate construction loan through Pacific Western Bank.

West Line Village Apartments will be a five-story building wrapped around a seven-level concrete parking structure with 362 parking spaces. The property will total more than 201,000 rentable square feet situated on a 1.97-acre site at 5645 W. 10th Avenue. The project’s location within an opportunity zone is four miles to downtown Denver and walkable to the Sheridan light rail station. Upon completion in 2022, West Line Village will feature a swimming pool, hot tub, rooftop patio, courtyard lounge areas, clubhouse, business center, fitness center, media room, pet spa and co-working office space.

The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon and Senior Director Kristian Lichtenfels.

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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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 more than 93,000 as of September 30, 2019. 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 Denver-based private equity firm focused on real estate and middle market operating companies in Colorado. Trailbreak Partners has completed and is currently working on nearly $300 million worth of real estate development and investment volume. Their investment and syndication platform harbor a wide array of capital sources that span high-net-worth individual investors to family office and institutional capital sources.

About Highland Development Company

Highland Development Company is a Colorado-based boutique real estate development firm specializing in the full-cycle entitlement of residential, commercial and hospitality projects.

About Pacific Western Bank

Pacific Western Bank is a commercial bank with over $26 billion in assets and 76 branches primarily located in California, with one in Denver, Colorado and another in Durham, North Carolina. Pacific Western Bank provides comprehensive community banking, national lending and venture banking services and solutions nationwide.