ORLANDO, December 2, 2021 -JLL Capital Markets announced today that it has arranged a $57.5 million refinancing for Windsor at Celebration, a 239-unit, luxury seniors housing community near Orlando in Celebration, Florida.
JLL worked on behalf of the borrower, a partnership between Square Mile Capital Management and Big Rock Partners, to secure the five-year, floating-rate, non-recourse loan through a large debt fund.
"Celebration has proven to be an outstanding community for people of all ages," said Charles Ochman, Managing Director of Square Mile Capital Management. "We're pleased to continue our successful collaboration with Big Rock Partners, serving the needs of seniors here. And we greatly appreciated the work of JLL in getting this refinancing completed."
The JLL Capital Markets team was led by Senior Director Joel Mendes with the national seniors housing team and Senior Managing Director Chris Drew and Managing Director Brian Gaswirth.
"We appreciated the opportunity to work with Square Mile and Big Rock Partners on this important financing," Mendes said. "Given the strengths of the sponsor, project and market, the transaction process was competitive, with the winning lender being selected based on a combination of proceeds, rate, covenant structure and certainty of execution. We look forward to the property's continued success."
"Arranging financing for sophisticated, institutional borrowers is always an honor for us," Drew added. "JLL greatly values our firm-wide relationships with Square Mile and Big Rock."
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.
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