JLL Capital Markets announced that it has arranged the refinancing of Gateway Place Phase II Apartments, a 144-unit, three-story, garden-style multihousing community in Greeley, Colorado.
JLL worked on behalf of the borrower, Morgan Energy to secure the 10-year, fixed-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.
Gateway Place Phase II is part of a two-phase community adjacent to the original Gateway Place Phase I. Constructed in 2020, the 6-builidng Gateway Place II offers one- and two-bedroom units with spacious floor plans, vaulted ceilings and skylights, built-in desks, private balconies and patios, quartz countertops, stainless steel appliances, in-unit washers and dryers and faux vinyl plank flooring. Community amenities include a resort-like clubhouse, a pool and hot tub, an entertainment lounge, a sun deck, grilling stations and picnic area, a dog park and a business center.
Situated at 3755 25th St., the central location provides residents with convenient access to every part of Greeley with downtown directly to the east and some of the region’s largest employers concentrated to the north and west of the property. The community is located less than a quarter mile from US-34 which is Greeley’s main thoroughfare, providing access to both downtown Greeley, and the I-25 junction.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Eric Tupler.
“I am thrilled to have long term debt on both phases of the project and the ability to offer a varied product in a single development will provide options to a wide range of renters,” commented Tom Morgan, Principal of Morgan Energy. “The JLL Team did a tremendous job in placing this loan and meeting my long-term objectives through a challenging market environment.”
JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities. 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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.