JLL Arranges $55.5M Loan for Refinancing of Urban East Apartments in Austin

AUSTIN, TEXAS — JLL has arranged a $55.5 million loan for the refinancing of Urban East, a 381-unit apartment community in Austin. The newly built property, which includes an affordable housing component, is located southeast of the downtown area near Austin-Bergstrom International Airport. Urban East offers studio, one-, two- and three-bedroom residences that are furnished with stainless steel appliances, tile backsplashes, granite countertops, walk-in closets, individual washers and dryers and private patios/balconies. Amenities include two pools, a fitness center, private conference rooms, a rooftop lounge, resident clubhouse and kitchen, dog park and a game room with a bowling alley. JLL arranged the floating-rate debt on behalf of the owner, a partnership between Battery Global Advisors, the Housing Authority of the City of Austin, River City Capital Partners and LDG Development. The direct lender was Goldman Sachs Alternatives.