Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

JONES LANG LASALLE INCORPORATED

(JLL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Jones Lang LaSalle Incorporated : $43M refinancing arranged for BELA in Jersey City

07/26/2021 | 12:18pm EDT

MORRISTOWN, N.J., July 26, 2021 - JLL Capital Markets announced today that it has arranged a $43 million bridge loan for BELA, a newly constructed 104-unit luxury multi-housing community in the growing Bergen-Lafayette neighborhood of Jersey City, New Jersey.

JLL represented the borrower, Golden Glades Capital Management, in arranging a three-year, floating-rate loan with a financing subsidiary of BrightSpire Capital, Inc. (NYSE: BRSP) that allowed the borrower to lower their cost of capital and finish their lease-up.

Featuring best-in-class construction and unit design, BELA offers a diverse mix of spacious one- and two-bedroom apartments averaging 982 square feet. Units include Caesarstone countertops, oversized wood cabinets, stainless steel appliances, island kitchens, full-size washers and dryers and large closets. The eight-story property's community amenities include rooftop views of the Manhattan and Jersey City skylines, a fitness center, yoga studio, grilling stations, outdoor lounge, club room and furnished suites for guests. BELA also offers onsite parking and bike storage via its first-floor garage and approximately 2,600 square feet of ground-floor retail.

Situated one block from Liberty State Park's Hudson-Bergen Light Rail station, BELA also is less than one mile from Interstate 78, which provides accessibility to the Hudson Waterfront, lower Manhattan and the greater New York MSA.

The JLL Capital Markets debt team that represented the borrower was led by Directors Matthew Pizzolato and Thomas E. Didio, Jr. The team previously secured acquisition financing for the borrower in 2020, while the JLL Capital Markets Investment Sales Advisory team brokered the 2020 sale of the property.

'We are thrilled to continue our relationship with Golden Glades Capital Management and once again represent them on this high-quality asset,' Pizzolato said. 'They've done a tremendous job through lease-up since acquiring this property in the heart of COVID. BrightSpire Capital recognized this and stepped up to offer extremely attractive terms that allowed our borrower to recapitalize and lower their cost of capital.'

'JLL's New Jersey Capital Markets team has been at the forefront of many of the largest Hudson County and Northern New Jersey's multi-housing trades and financings over the past 18 months,' Dido added. 'This financing is a testament to the cohesive approach our market-leading practice takes servicing our clients, both on investment advisory and debt and equity financing. We are grateful to the Golden Glades team in entrusting us to execute this bridge financing that will allow them to stabilize full occupancy and season the asset's performance at a cheap cost of capital with flexible structure.'

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Disclaimer

Jones Lang LaSalle Inc. published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 16:17:06 UTC.


© Publicnow 2021
All news about JONES LANG LASALLE INCORPORATED
11:22aJONES LANG LASALLE INCORPORATED : $30.855M financing arranged for new co-living ..
PU
10:22aJONES LANG LASALLE INCORPORATED : JLL arranges $250M financing for historic Dayt..
PU
09:32aJONES LANG LASALLE INCORPORATED : Chicago-area retail center anchored by Mariano..
PU
09:22aJONES LANG LASALLE INCORPORATED : Post-pandemic, companies have an unprecedented..
PU
08:31aJLL : arranges $250M financing for historic Dayton's project in Minneapolis
PR
09/15JONES LANG LASALLE INCORPORATED : New suburban self-storage facility near Austin..
PU
09/15JONES LANG LASALLE INCORPORATED : JLL facilitates $245M recapitalization of 31-b..
PU
09/15JONES LANG LASALLE INCORPORATED : Long Island residential project capitalized fo..
PU
09/15JONES LANG LASALLE INCORPORATED : Capital secured for new Class A multi-housing ..
PU
09/15JONES LANG LASALLE INCORPORATED : JLL increases investment in suburban office br..
PU
More news
Analyst Recommendations on JONES LANG LASALLE INCORPORATED
More recommendations
Financials (USD)
Sales 2021 10 209 M - -
Net income 2021 758 M - -
Net Debt 2021 123 M - -
P/E ratio 2021 16,6x
Yield 2021 -
Capitalization 12 211 M 12 211 M -
EV / Sales 2021 1,21x
EV / Sales 2022 1,09x
Nbr of Employees 91 000
Free-Float 97,6%
Chart JONES LANG LASALLE INCORPORATED
Duration : Period :
Jones Lang LaSalle Incorporated Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends JONES LANG LASALLE INCORPORATED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 240,85 $
Average target price 293,00 $
Spread / Average Target 21,7%
EPS Revisions
Managers and Directors
Christian Ulbrich President, Chief Executive Officer & Director
Karen Brennan Chief Financial & Investment Officer
Siddharth N. Mehta Chairman
Allan Frazier Global Chief Information Officer
Benjamin Breslau Chief Research Officer
Sector and Competitors
1st jan.Capi. (M$)
JONES LANG LASALLE INCORPORATED60.13%12 211
CBRE GROUP, INC.55.31%32 053
ZILLOW GROUP, INC.-32.23%23 160
KE HOLDINGS INC.-72.39%20 233
FIRSTSERVICE CORPORATION39.54%8 433
EXP WORLD HOLDINGS, INC.43.06%6 611