JLL Capital Markets has arranged a $27.5 million refinancing of Promenade at New Town, a 225-unit multihousing community in the St. Louis-area community of St. Charles, Missouri.
JLL represented Gold Block Ventures in arranging a 10-year, 3.15 percent, fixed-rate, full-term, interest-only loan with a national conduit lender.
Promenade at New Town is an existing 225-unit multihousing project on 80 separate land parcels and made up of 95 residential buildings with a combination of townhomes, garden-style apartments, row homes and single-family residences ranging from studio, one-, two- and three-bedroom units and 3,100 square feet of retail space.
The community offers tenants a diverse unit mix and community amenities including an outdoor amphitheater, coffee shops, bars and restaurants, fitness center, boutique shops, two aquatic centers, an organic farm and a real-sand beach. Community activities include concerts, movie nights, sand volleyball leagues, bocce ball, fishing, boating and more.
Located at 3301 #1 Domain St., Promenade at New Town is just 20 miles northwest of downtown St. Louis in the popular and walkable 700-acre New Town at St. Charles master-planned community.
The JLL Capital Markets debt and equity team that represented Gold Block Ventures was led by Senior Director Kristian Lichtenfels and Director Lucas Borges.
