JLL Capital Markets announced that it has arranged the $42.5 million construction loan for the development of West Line Village Apartments, a 281-unit, Class A multihousing 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.
