JLL Funds $30.3M Refinancing for Nantucket Creek Active Adult Community in Los Angeles
LOS ANGELES — JLL Capital Markets has provided a $30.3 million loan to refinance Nantucket Creek, a 172-unit, garden-style, age-restricted apartment community in the Chatsworth neighborhood of Los Angeles.
JLL worked on behalf of the borrower, Universe Holdings, to secure the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital LLC will service the loan.
Proceeds from the loan also provided a return of equity to Universe’s balance sheet, which the company plans to use toward future acquisitions.
Nantucket Creek comprises one- and two-bedroom units ranging from 623 to 1,100 square feet. The community is located along California’s State Route 27, providing access to local retail and dining centers, as well as Chatsworth Dry Lake Nature Preserve and West Hills Hospital and Medical Center.
Charles Halladay, Jonah Aelyon and Elle Miraglia led the JLL Capital Markets debt advisory team representing the borrower.