JLL Arranges $75M Construction Financing for Vancouver Housing Development
JLL has arranged a $75 million construction loan for The VIC Phase 1, a 250-unit multifamily development in Vancouver, Washington.
JLL represented the borrowers, Rabina and New Blueprint Partners, in securing the three-year, floating-rate construction loan. JLL Capital Market’s Debt Advisory team, representing the borrower, was led by Senior Managing Director Casey Davidson and Director Charlie Watson.
The VIC Phase 1, located at 18110 SE 34th St., is the first phase of a 180-acre master-planned community designed to combine residential, retail and light industrial uses into a walkable, mixed-use neighborhood. The community will be developed around the existing Vancouver Innovation Center, consisting of 700,000 square feet of office, flex and light industrial space.
The VIC Phase 1 comprises 16 acres featuring three residential buildings, a 10,000-square-foot clubhouse and a neighborhood park. The project includes 250 units, 20 percent of which will be affordable housing, with an average unit size of 822 square feet and 283 parking spaces.
Other News
Development Site Trades within Atlantic Avenue Mixed-Use Plan
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
Learn more
Fourth Sale Closes in Anaheim Multifamily Portfolio
Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
Learn more
JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout