JLL Arranges $23M Construction Loan for Multifamily Development in Wind Gap, Pennsylvania
WIND GAP, PA. — JLL has arranged a $23 million construction loan for the development of Dream Lehigh Valley, a 200-unit apartment complex in the Lehigh Valley community of Wind Gap, located approximately 70 miles north of Philadelphia. A regional bank provided the floating-rate construction loan to the project’s developer, DLP Capital Partners. Dream Lehigh Valley will include nine residential buildings comprising one-, two- and three-bedroom apartments, as well as a two-story clubhouse with a lounge, game room, fitness center and pool. Construction is slated for completion in 2021. Michael Pagniucci and Jason Bond of JLL arranged the loan for DLP Capital Partners.