JLL Arranges Construction Loan for Phoenix-Area BTR Community

JLL Capital Markets has arranged a $30 million construction loan for Villas Litchfield Park, a 153-unit, build-to-rent community outside Phoenix.

JLL worked on behalf of the borrower, a joint venture between Blue Vista Capital Management and Family Development, to secure the three-and-a-half-year loan through Old National Bank.

Upon completion, Villas Litchfield Park will offer one- and two-bedroom, free-standing, single-story units that offer the privacy of a single-family home with the luxurious community amenities of an apartment complex. All units will feature private backyards. Amenities will include a pool, fitness center, open turf spaces, outdoor lounge area and grill area.

Villas Litchfield Park is located in a dense infill location in Phoenix’s West Valley. The property is surrounded by numerous dining and entertainment options as well as recreational sites. In addition, Villas Litchfield Park has access to downtown Phoenix via Interstate 10 and Highway 303.