Category: Boca Raton

Boca ATC acquires 144-unit apartment portfolio in Boca Raton

Boca Garden Portfolio
JLL arranged $17.78 million in acquisition financing for a 144-unit, garden-style, scattered-site apartment portfolio in Boca Raton, Florida.


JLL announced today it has arranged $17.78 million in acquisition financing for a 144-unit, garden-style, scattered-site apartment portfolio in Boca Raton, Florida.

Working exclusively on behalf of Boca ATC, JLL placed the 10-year, fixed-rate loan with Freddie Mac. The loan, which funded Boca ATC’s acquisition of the portfolio, will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo lender.

The portfolio’s 144 value-add units are located within five separate communities, which were completed between 1971 and 1987. The 95 percent occupied portfolio features spacious residences averaging 1,011 square feet. The properties are situated in premier infill locations zoned to some of Boca Raton’s best public schools and proximate to the area’s top employment, retail and entertainment demand drivers.

The JLL Capital Markets team representing the borrower was led by Managing Director Elliott Throne and Director Jesse Wright.

“Freddie Mac stepped up to offer highly accretive financing for a strong sponsor with a great track record despite the nuance of the scattered site aspect of the offering,” Throne said. “Congratulations to Boca ATC for a superb acquisition.”

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.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.



Boca ATC acquires 144-unit apartment portfolio in Boca Raton

Boca Garden Portfolio
JLL arranged $17.78 million in acquisition financing for a 144-unit, garden-style, scattered-site apartment portfolio in Boca Raton, Florida.

JLL announced today it has arranged $17.78 million in acquisition financing for a 144-unit, garden-style, scattered-site apartment portfolio in Boca Raton, Florida.

Working exclusively on behalf of Boca ATC, JLL placed the 10-year, fixed-rate loan with Freddie Mac. The loan, which funded Boca ATC’s acquisition of the portfolio, will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo lender.

The portfolio’s 144 value-add units are located within five separate communities, which were completed between 1971 and 1987. The 95 percent occupied portfolio features spacious residences averaging 1,011 square feet. The properties are situated in premier infill locations zoned to some of Boca Raton’s best public schools and proximate to the area’s top employment, retail and entertainment demand drivers.

The JLL Capital Markets team representing the borrower was led by Managing Director Elliott Throne and Director Jesse Wright.

“Freddie Mac stepped up to offer highly accretive financing for a strong sponsor with a great track record despite the nuance of the scattered site aspect of the offering,” Throne said. “Congratulations to Boca ATC for a superb acquisition.”

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.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

Mill Creek completes seventh acquisition of past year

Alister Nanuet
Mill Creek Residential announced the acquisition of Alister Nanuet, which marks the company’s seventh acquisition of the previous 12 months.


Mill Creek Residential, a leading multifamily investor, developer, and operator specializing in premier apartment communities across the U.S., announced the acquisition of Alister Nanuet, which marks the company’s seventh acquisition of the previous 12 months. The newly acquired communities total more than 1,600 apartment homes and a combined capitalization in excess of $500 million.

“The transaction rounds out a busy year of acquisitions for Mill Creek Residential, in which we have acquired seven apartment communities with strategic joint venture partners,” said Wesley Dickerson, senior managing director of acquisitions for Mill Creek Residential. “These acquisitions are located in target markets that include South Florida, the Mid-Atlantic and the Pacific Northwest. We continue to focus our investment efforts on value-add opportunities in locations that we view as growth markets because of their strong population and employment base.”

Situated at 100 Avalon Gardens Drive surrounded by a lush backdrop, Alister Nanuet is a garden-style apartment community featuring 504 apartment homes with spacious layouts. The community offers one-, two- and three-bedroom homes with an average square footage of 1,208. The Hudson Valley-based community sits within a short drive of several key thoroughfares, public transit options, convenience retailers and key employment centers.

Mill Creek Residential’s other recent acquisitions include two communities in northern Virginia, two in Florida and two in Washington. Mill Creek acquired the two communities in the Seattle suburb of Everett, Wash., earlier this year and rebranded them as one standalone community, Alister Parx.

“While Mill Creek has built its reputation as a top-tier developer over the past several years, we’ve also made a concerted effort to augment our portfolio with strategic acquisitions,” Dickerson said. “These communities complement our existing portfolio in that they offer a comfortable, top-of-market living experience in some of the nation’s most compelling investment markets.”



Mill Creek completes seventh acquisition of past year

Alister Nanuet
Mill Creek Residential announced the acquisition of Alister Nanuet, which marks the company’s seventh acquisition of the previous 12 months.

Mill Creek Residential, a leading multifamily investor, developer, and operator specializing in premier apartment communities across the U.S., announced the acquisition of Alister Nanuet, which marks the company’s seventh acquisition of the previous 12 months. The newly acquired communities total more than 1,600 apartment homes and a combined capitalization in excess of $500 million.

“The transaction rounds out a busy year of acquisitions for Mill Creek Residential, in which we have acquired seven apartment communities with strategic joint venture partners,” said Wesley Dickerson, senior managing director of acquisitions for Mill Creek Residential. “These acquisitions are located in target markets that include South Florida, the Mid-Atlantic and the Pacific Northwest. We continue to focus our investment efforts on value-add opportunities in locations that we view as growth markets because of their strong population and employment base.”

Situated at 100 Avalon Gardens Drive surrounded by a lush backdrop, Alister Nanuet is a garden-style apartment community featuring 504 apartment homes with spacious layouts. The community offers one-, two- and three-bedroom homes with an average square footage of 1,208. The Hudson Valley-based community sits within a short drive of several key thoroughfares, public transit options, convenience retailers and key employment centers.

Mill Creek Residential’s other recent acquisitions include two communities in northern Virginia, two in Florida and two in Washington. Mill Creek acquired the two communities in the Seattle suburb of Everett, Wash., earlier this year and rebranded them as one standalone community, Alister Parx.

“While Mill Creek has built its reputation as a top-tier developer over the past several years, we’ve also made a concerted effort to augment our portfolio with strategic acquisitions,” Dickerson said. “These communities complement our existing portfolio in that they offer a comfortable, top-of-market living experience in some of the nation’s most compelling investment markets.”