JLL Capital Markets announced that it has secured a $40.5 million construction take-out refinancing for The Place at Silverbell Gateway, a newly constructed 300-unit Class-A apartment community in Tucson, Arizona.
JLL worked on behalf of the borrower, MC Companies, to arrange a floating-rate loan through its JREC balance sheet program.
Located in Tucson’s northwest corridor, The Place at Silverbell Gateway sits along Silverbell Road with proximity to commercial developments and residential neighborhoods. The property provides access to major thoroughfares and is positioned near key amenities in an area experiencing growth and development activity.
The JLL Capital Markets team was led by Senior Managing Director Brad Miner and Associate Drew Lydon.
“The Place at Silverbell Gateway is an exceptional asset in a strong Tucson submarket, and our balance sheet program allowed MC Companies to secure favorable terms while maintaining the optionality to transition to agency financing,” said Miner. “The Tucson multifamily market continues to demonstrate resilience with steady demand fundamentals, and we expect properties like this to perform well as the Southwest continues to attract both residents and businesses.”
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 sales and 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.
