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JSB Capital refinances 631-unit Doral apartment for $238M
The floating-rate, interest-only bridge loan was arranged by Walker & Dunlop Capital Markets Institutional Advisory and provided by Torchlight Investors.
JSB Capital has refinanced The Landmark South, a 631-unit, Class A multifamily community in Doral, Florida, in a $238 million deal, according to ConnectCRE.
Walker & Dunlop Capital Markets Institutional Advisory arranged the financing, which involves a floating-rate, interest-only bridge loan from Torchlight Investors.
ConnectCRE reports the refinancing covered one-, two-, and three-bedroom residences averaging 1,017 square feet, with the project completed in two phases in 2017 and 2021.
Amenities listed for the community include two resort-style pools, two 24-hour fitness centers, outdoor courtyards, a business center, a pet spa, resident lounges, and structured parking.