JLL Capital Markets announced that it has arranged the $149 million refinancing for a three-property, 857-unit multi-housing portfolio located in Georgia, South Carolina and North Carolina. The properties include Adara at Godley Station, Avenues at Verdier Point, and Verde Vista.
JLL represented the borrower, Sunroad Enterprises, to secure the three-year, fixed-rate loan through a life insurance company.
Sunroad Enterprises acquired the three assets in 2021 and executed value-add business plans, completing 100% of exterior and common area renovations and 50% of interior renovations.
Each community features luxury residential units, ranging from studios to three-bedroom floorplans, and a wide variety of community amenities, including a resort-style pool, a state-of-the-art fitness center, renovated clubhouses, game rooms, outdoor kitchens and more.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Aldon Cole and Tim Wright and Vice President Bharat Madan.
“Getting this done is a testament to Sunroad’s ability to create significant value through thoughtful business planning and tremendous execution. This transaction also really emphasizes the liquidity still available in this market for quality assets with strong sponsors,” said Cole.
Adara at Godley Station is featured at the top.
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.
