DENVER, CO - JLL Capital Markets announced today that it has arranged the $3.2 million financing for Element 79, a 40-unit, garden-style apartment complex in Helena, Montana.
JLL marketed the loan on behalf of the borrower, Graystoke Capital Partners, to secure the seven-year, full-term interest only, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.
Constructed in 1963 and renovated in 1985, the property features studio, one-, two- and three-bedroom units with an average size of 656 square feet. Community amenities include storage lockers, community laundry, high speed internet, pet-friendly offerings, easy parking and convenient walkability.
Situated at 301 W. Lawrence St., the community is located within walking distance to Helena’s historical Last Chance Gulch commercial and entertainment district.. Mt. Helena is less than an 11-minute walk from the property. Additionally, the community sits in the Helena School district, a top tier district in all of Montana.
”We are thrilled with the execution delivered within a tight timeframe by Tony and his team at JLL. Regardless of loan size, they make the Agency process smooth,” noted Matt Steffen, Managing Principal at Graystoke Capital Partners.
The JLL Capital Markets Debt Advisory team was led by Managing Director Tony Nargi.
“JLL is thrilled to be involved in another financing for Graystoke. They are an absolutely tremendous owner operator in the Mountain West that can uncover excellent deals in any market environment. Fannie Mae provided very strong pricing, full-term interest only and an overall great execution for this 5-50 unit “mission-driven” property,” said Nargi.
Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.