JLL Capital Markets has provided $94.3 million in construction financing for the four-story, Class A multi-housing building in Pleasant Hill, California.
Bank OZK was responsible for providing senior financing on behalf of the borrower Gemdale USA, and Avalon Bay Communities was responsible for providing mezzanine financing.
What Is the Project All About?
The property, located at 85 Cleveland Road in the heart of downtown Pleasant Hill, is within walking distance of 350,000 square feet of retail space and several restaurants and a movie theater.
The new facility will boast a state-of-the art fitness center and clubroom, a courtyard with lounge seating, a roof deck with amenities, a co-working space and outdoor meeting rooms with fireplaces. As a result, the project will also have a resort-style atmosphere.
Knowing Gemdale USA
Gemdale USA Corporation is a real estate investment and development firm headquartered in Pasadena, California. The company develops stand-alone and mixed-use commercial and residential developments and multifamily rental properties.
Gemdale USA’s fully integrated platform includes more than 80 professionals who cover acquisitions, development, construction, design, and asset management. In contrast, accounting/finance and capital markets cover all bases.
Class A ground-up development projects are concentrated throughout the United States in key gateway and high barrier to entry areas of some of our largest cities, including New York, Boston, San Francisco, Seattle, Washington D.C., Dallas (where we’re headquartered), Miami, Los Angeles, and Houston
What’s the OZK Bank?
OZK Bank is one of the leading banks in the United States. As a commercial bank, it provides various financial products and services to individuals and businesses, including deposit accounts and loans.
OZK Bank’s Real Estate Specialties Group (RESG) has more than 30 years of experience providing construction loans for mixed-use and real property owners. Its professionals have assisted clients with commercial real estate financing for mixed uses, office buildings, condominium projects, life sciences facilities, industrial sites, and retail buildings across the US.
Everything You Need to Know About JJL
JLL’s primary area of expertise as a professional services organization is real estate and investment management. JLL is reimagining the future of real estate through cutting-edge technology to benefit our customers, employees, and the communities we serve.
In addition, we are helping the environment as a result of this process. JLL had operations in 80 countries and employed over 95,000 people worldwide as of September 30th, 2021, with a total annual revenue of $16.6 billion. JLL is both a brand name and a registered trademark for Jones Lang LaSalle Incorporated.
Buckle Up and Wait for The Rise
With its abundance of amenities and a resort-style atmosphere, this project is the premier office development in Pleasant Hill. Beauty and technology is the theme of this project. Creating a holistic home-like experience for residents, owners can customize their living arrangements and enjoy resort-like amenities in the heart of downtown Pleasant Hill.