JLL Capital Markets announced that it has arranged the $51 million construction takeout financing for Mossdale Landing Apartments, a recently completed, Class A, 204-unit, garden-style apartment community located in Lathrop, California.
JLL represented the borrower, Mossdale Landing Owner LLC, a company comprised of Rubik Built, Wright Equities and The Grupe Company, to secure the three-year bridge loan through MF1 Capital.
Completed in summer 2023, the 10-building Mossdale Landing Apartments features one-, two- and three-bedroom units with high-end interiors, spacious private balconies/patios and in-unit washers and dryers.
Situated at 18008 Golden Valley Pkwy, Mossdale Landing is located on a 9-acre site along Highway 5 and is just two miles from the regional ACE rail station, allowing an easy commute to the major employment hubs in Bay Area. Numerous top employers are within a 10-minute radius of the site, including Kaiser Permanente, Tesla and Amazon. The property is also just a two-minute drive from the 185,000-square-foot Lathrop Towne Center retail development and the under-construction retail at Lathrop Marketplace, along with several other large retail centers and parks. It also borders the 5,000-acre River Islands community development, which will consist of 11,000 homes, a town center and an employment center that will provide thousands of new jobs for residents.
The JLL Capital Markets Advisory Team representing the borrower was led by Senior Managing Director Jeff Sause, Director Lillian Roos and Analyst Jalynn Borders.
“The sponsor team has done an exceptional job delivering highly amenitized, Class A product into the supply-constrained submarkets of the Central Valley, exemplified by the impressive leasing demand at Mossdale and their other nearby projects,” said Roos.
