JLL announced it has arranged $15.1 million in financing for the development of Palatine Bankers Hill, a five-story, 16-unit luxury condominium project in San Diego, California.
JLL worked on behalf of the developer, INI Greenfield, to arrange the one-year, floating-rate construction loan through a New York City-based debt fund.
Palatine Bankers Hill is located at 2750 Fourth Avenue in the heart of the Bankers Hill/Park West neighborhood just two blocks west of the historic Balboa Park. Due for completion in early 2020, the property will consist of 16 for-sale residential units, 1,121 square feet of ground-level commercial space and 38 subterranean and grade-level parking spaces. Residences will include a mix of two-, three- and four-bedroom layouts that will feature luxury finishes, including Turkish stone tile and hardwood flooring, quartzite countertops, sustainable wood cabinetry, Miele appliances, large private terraces, customizable closet systems, ThermoPad thermostats, automated Lutron lighting, keyless entry and electric car charging stations.
The JLL Capital Markets team representing the developer was led by Director Chris Collins and Analyst Brad Vansant.
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.
Deal secured by Holliday GP Corp. (HFF) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc., a licensed real estate broker (CA RE Broker License No. 01856260).
