JLL Capital Markets announced that it has arranged $4.95 million in acquisition financing for Lightner Creek Village Apartments, a 35-unit multihousing 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.