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Lathrop Apartments Score $51M Takeout Financing
JLL Capital Markets arranged a $51-million construction takeout financing for Mossdale Landing Apartments, a recently completed, Class A, 204-unit, garden-style apartment community located in Lathrop.
The JLL Capital Markets Advisory Team of Jeff Sause, Lillian Roos and Jalynn Borders represented the borrower, Mossdale Landing Owner LLC, a company comprised of Rubik Built, Wright Equities and The Grupe Company, to secure the three-year bridge loan through MF1 Capital.
Completed in summer 2023, the 10-building Mossdale Landing Apartments features one-, two- and three-bedroom units with high-end interiors, spacious private balconies/patios and in-unit washers and dryers. It’s located two miles from the regional ACE rail station, facilitating a commute to major employment hubs.
“The sponsor team has done an exceptional job delivering highly amenitized, Class A product into the supply-constrained submarkets of the Central Valley, exemplified by the impressive leasing demand at Mossdale and their other nearby projects,” said Roos.
- ◦Financing
