close
close

JLL closes financing for 102-unit Eastglen Apartments in Longmont, Colorado

JLL closes financing for 102-unit Eastglen Apartments in Longmont, Colorado
Eastglen Apartments is located at 630 Lashley Street in Longmont, Colorado.

JLL Capital Markets announced that it has secured $11.96 million in financing for the acquisition of Eastglen Apartments, a 102-unit apartment building in Longmont, Colorado.

JLL worked on behalf of the borrower, a joint venture between Two Arrows Group and LEM Capital, to secure the five-year fixed rate loan through the Freddie Mac Targeted Affordable Housing team. The loan is being serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.

Eastglen Apartments offers a variety of spacious one, two and three bedroom apartments with an average living area of ​​approximately 80 square metres. Each apartment is equipped with a fully equipped kitchen, air conditioning, bathtub/shower and a private balcony or terrace. In addition, the complex offers a range of amenities including laundry facilities, a communal swimming pool, courtyard, on-site parking and access to parks and walking trails.

Located in the Denver MSA, Longmont is conveniently located between Denver and Fort Collins off Interstate 25. The property is within a four-mile radius of several national and local retailers including The Home Depot, Starbucks, Walmart Supercenter, Sam’s Club, Costco, Target and King Soopers. It is also just a short drive to downtown Longmont, which offers a vibrant atmosphere with its combination of historic architecture, boutiques, art galleries and diverse culinary offerings.

The JLL Capital Markets Debt Advisory team was led by Managing Directors Tony Nargi and Brock Yaffe.

“JLL is very pleased to be involved in this financing for Two Arrows and LEM. Two Arrows is an absolutely outstanding local owner and operator of workforce housing in Colorado,” said Nargi. “The strong support of Two Arrows Group and LEM, as well as the affordability of the property, enabled Freddie to offer a very attractive interest rate.”

JLL Capital Markets is a global full-service provider of capital solutions for real estate investors and occupiers. The company’s in-depth knowledge of local markets and global investors provides clients with first-class solutions – whether investment sales and advice, debt advice, equity advice or recapitalization. The company employs more than 3,000 capital market specialists worldwide and has offices in almost 50 countries.