JLL Real Estate Capital Provides $80M Refi for Oregon Multifamily Community
Financing will go toward recapitalization of Chase Village, a 536 unit housing community in Eugene, Oregon.
By Brian Pascus March 11, 2024 3:02 pm
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Horizon Realty Advisors, a Seattle-based property management and development firm, has secured $80.5 million to refinance Chase Village, a 536-unit multifamily housing community in Eugene, Ore.
JLL Real Estate Capital provided the five-year loan through Freddie Mac Multifamily. A JLL Capital Markets team of Jake Wisness and Jake Davidson arranged the financing on behalf of Horizon Realty Partners.
JLL’s Wisness praised the assistance of Freddie Mac in pushing the deal across the finish line.
“In today’s capital markets environment, Freddie Mac continues to offer accretive financing with flexible interest rate buydown options that give borrowers competitive pricing relative to other capital sources,” said Wisness in a statement. “This loan will allow Horizon Realty Advisors to continue operating a community that has been a mainstay of Eugene for more than thirty years.”
Located at 375 Marche Chase Drive in Lane County, Chase Village opened in 1990. The complex boasts 536 garden-style apartments across one-, two-, and three-bedroom units that include full kitchens and in-unit laundry. The greater Chase Village community grounds features a swimming pool, a basketball court, a fitness center, an outdoor lounge area, and a car wash.
Brian Pascus can be reached at bpascus@commercialobserver.com
