September 14, 2020
JLL has arranged a $17.2 million loan to refinance Arbor Ridge, a 212-unit multifamily property in Athens, GA.
The borrower, Asia Capital Real Estate, will utilize the refinancing to continue renovations on the community, which is located at 150 Chateau Terrace in Athens. The community consists of one-, two- and three-bedroom apartments. Amenities include a pool, fitness center, business center, laundry facility, pet park and clubhouse. Asia Capital acquired the property in December 2018 and performed an extensive renovation, which successfully raised the profile of the asset.
Jesse Wright and Ware Shipman of JLL secured the 10-year, floating-rate loan through Freddie Mac on behalf of Asia Capital Real Estate.
For comments, questions or concerns, please contact David Cohen