JLL Capital Markets Secures $99M Refinancing for The Fitzgerald Luxury Apartment Community
JLL Capital Markets announced the arrangement of a $99 million refinancing for The Fitzgerald, a luxury apartment community located in the LoDo neighborhood of downtown Denver, Colorado. The 282-unit, 11-story complex is a prime example of modern urban living, boasting a range of high-quality amenities and an enviable location.
Financing Details and Borrower Representation
JLL represented the borrower, Greystar, in securing a floating-rate, three-year loan through Otera Capital. Greystar is a leading global real estate company with expertise in property management, investment management, development, and construction services.
Amenities and Features of The Fitzgerald
Constructed in 2022, The Fitzgerald offers studio, one-, and two-bedroom units with an average size of 963 square feet. The apartments feature stainless steel appliances, quartz countertops, and wood-style flooring. The community amenities include an indoor/outdoor fitness and wellness studio, an on-site retail collection, coworking spaces and private meeting rooms, a pool deck and spa, and a social lounge with BBQs, fire pits, and TVs.
Location and Accessibility
Located at 1840 Market St., The Fitzgerald is conveniently situated between 18th and 19th streets, offering easy walkability to LoDo’s best shops, cafes, restaurants, and entertainment. Popular neighborhoods such as Larimer Square, Union Station, LoHi, RiNo, Platte Street, Cherry Creek, and the Golden Triangle are within a five-minute radius. As part of Denver’s Central Business District, The Fitzgerald is close to 1.8 million square feet of under-construction office space, and residents can access over 161,000 jobs in downtown Denver. The property also provides numerous transit options, including Denver Union Station, the free 16th Street MallRide, RTD’s Light Rail System, and the downtown Denver circulator bus. Additionally, MacGregor Square Entertainment Complex and Coors Field, home of the Colorado Rockies, are in close proximity to the community.
JLL Capital Markets Team
The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Charles Halladay, Jordan Angel, and Andy Scott, Director Rob Bova, and Associate Ethan Habecker. The team successfully secured financing for the project despite a higher interest rate environment, showcasing the strong demand from lenders for high-quality housing projects from best-in-class borrowers like Greystar.
About JLL Capital Markets
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. With more than 3,000 Capital Markets specialists worldwide in nearly 50 countries, the firm offers in-depth local market and global investor knowledge, delivering best-in-class solutions for clients, whether in investment and sales advisory, debt advisory, equity advisory, or recapitalization.
About Greystar
Greystar is a leading global real estate company that specializes in property management, investment management, development, and construction services. Headquartered in Charleston, South Carolina, Greystar manages and operates over $280 billion of real estate in 241 markets globally. As the largest operator of apartments in the United States, Greystar manages more than 822,100 units/beds globally and has a robust institutional investment management platform, with over $75 billion of assets under management.
Orginal article: Link To Article – provided by Kansas City Realtors
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