JLL Secures $17M Refi for Atlanta-Area Community

Directors Jesse Wright and Ware Shipman arranged the loan on behalf of Asia Capital Real Estate.
Arbor Ridge

JLL Capital Markets has arranged $17.2 million in refinancing for Arbor Ridge, a 212-unit community in Athens, Ga. Directors Jesse Wright and Ware Shipman worked on behalf of Asia Capital Real Estate to secure the 10-year, floating-rate loan through Freddie Mac. Last month, Wright arranged $24 million in refinancing for a 188-unit community in Clearwater, Fla.

Built in 1969, Arbor Ridge comprises one-, two- and three-bedroom units, with energy-efficient windows and private balconies. Common-area amenities include a swimming pool, fitness center, pet park, clubhouse and laundry facilities. Asia Capital acquired the property in 2018 and invested in a capital improvements plan. According to Yardi Matrix, The Walden Group sold the asset for $16.5 million. The sale was subject to a $9.2 million loan, secured by NorthMarq Capital.

Located on a 12-acre site at 150 Chateau Terrace, the 12-building property is within 4 miles of University of Georgia and 2 miles of St. Mary’s Health System. The surrounding area has several retail and dining options, including Alps Village commercial center, which is 1.5 miles from Arbor Ridge.

If you’d like to be featured in Brokers’ Corner, simply fill in our short form or send your deal to deals@cpe-mhn.com.