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July 28, 2022

JLL secures nearly $30M for senior housing refi

JLL Capital Markets recently announced that it had done a refinance deal worth nearly $29.6 million on behalf of Mirror Lake Village, in Federal Way. The bank lender wasn't named. Alanna Ellis led the effort for JLL. She said in a statement, “We were very pleased to deliver such a unique execution to our clients, whose project was first delayed due to COVID and then delivered into a difficult environment.” The note carries a 5.25% rate with an interest-only term of 10 years. She also said the loan was retroactively made a C-PACE deal; that's what the industry calls a Commercial Property Assessed Clean Energy instrument. The owner and borrower broke ground circa 2019 on the low-rise complex circa 2019; it has 114 units.




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