CHICAGO, IL – JLL Capital Markets announced today that it has arranged refinancing for Westridge Gardens, a 136-unit multi-housing property in Phoenixville, Pennsylvania.
JLL worked on behalf of the borrower, an affiliate of Relative Properties, LLC, to secure the 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.
Westridge Gardens is located at 909 Westridge Gardens Lane approximately one mile from Routes 23, 724 and 113 in the northwestern suburbs of Philadelphia. The 13-acre site is close to downtown Phoenixville offering residents an array of shopping, dining and entertainment options. Renovated in 2017, the 15 two-story residential buildings offer a mix of one-, two- and three-bedroom units averaging 986 square feet each. Each residence has a private entrance, in-unit washer and dryers and outdoor patio space. Community amenities include a swimming pool, sport court and playground.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Ryan Ade, Managing Director Jamie Leachman and Vice President Travis Hess.
JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.