JLL Arranges $29.5M Refinancing of Seattle Senior Community
JLL Capital Markets has arranged a $29.5 million refinancing for Mirror Lake Village, a 114-unit, 138-bed, Class-A independent living, assisted living and memory care community in Federal Way, WA. JLL worked on behalf of the borrower, Mirror Lake Village, LLC, to secure the financing.
“We were very pleased to deliver such a unique execution for our clients in a difficult environment,” said Alanna Ellis, who led the JLL Capital Markets team. “The combination of balance sheet financing from a regional bank together with retroactive C-Pace provided for full leverage on the reset budget and blended all in rate of 5.21% including 10 years of interest only and 45% of the financing as fixed rate non-recourse.”
Mirror Lake Village is located at 3100 9th Place SW in an area with ample outdoor amenities and a vibrant city center. The community offers an outdoor courtyard, covered patio, hair salon, theater and library.
- ◦Financing