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JONES LANG LASALLE INCORPORATED

(JLL)
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Jones Lang LaSalle Incorporated : Colorado workforce housing development moves forward with $9.95M in financing

12/02/2021 | 02:41pm EST

DENVER, Dec. 2, 2021 -JLL Capital Markets announced today that it has arranged $9.95 million in financing for the development of Fireside Apartments, a garden-style multi-housing community totaling 50 workforce housing units in Winter Park, Colorado.

JLL worked on behalf of the borrower, a joint venture partnership between Consolidated Development Partners and MRE Capital, to secure the construction loan through Great Western Bank.

Due for completion in March 2023, Fireside Apartments will be located on the southeast corner of Kings Crossing Road and Wolf Park Lane at 200 Baker Dr. Winter Park is world renowned as a winter sports destination that brings one million visitors annually.

The project team partnered with the Town of Winter Park to create a unique, newly built, garden-style workforce housing property. The project will feature a mix of one- and two-bedroom units that have rents restricted at 80, 100 and 120 percent of AMI.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Director Rob Bova.

"Fireside Apartments is a unique project that really serves the needs of the local community," Bova said. "Consolidated Development Partners and MRE Capital did an excellent job working with the Town of Winter Park. Great Western Bank was an excellent partner to work with and understood the unique nature of the project."

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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 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 02 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2021 19:40:07 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 11 002 M - -
Net income 2021 884 M - -
Net Debt 2021 582 M - -
P/E ratio 2021 14,4x
Yield 2021 -
Capitalization 12 404 M 12 404 M -
EV / Sales 2021 1,18x
EV / Sales 2022 1,06x
Nbr of Employees 91 000
Free-Float -
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Last Close Price 245,77 $
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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
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