JLL Capital Markets announces it has arranged $62 million in financing for The Daley at Shady Grove, a 333-unit multihousing community with nearly 15,000 square feet of ground-floor retail located in Rockville, Maryland.
JLL worked exclusively on behalf of Black Creek Group, a Denver-based real estate investment manager and development firm, to place the seven-year, fixed-rate loan with a life company lender. The loan features interest-only payments for half of the term and a 3.20 percent rate.
The Daley at Shady Grove is located at 8010 Gramercy Boulevard within EYA’s Westside at Shady Grove master-planned community, which is less than a two-minute walk to the Shady Grove Metro Station. Completed in 2017, units average 831 square feet and feature stainless steel appliances, wood-style flooring, walk-in closets, full-size washers and dryers and keyless entry. Community amenities include a resort-style pool, grilling station and 1,750-square-foot fitness center with multi-functional training system. The property’s 14,974 square feet of retail space is anchored by Starbucks.
The JLL Capital Markets team representing the borrower was led by Senior Director Jamie Leachman, Senior Managing Director Eric Tupler and Managing Director Josh Simon.
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. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.