Dealmaker: JLL Secures $22M Bridge Financing in Hoover, Ala.

(Property photo courtesy of JLL)

JLL Capital Markets, Chicago, secured a $21.8 million refinancing for Skylar Ridge, a 140-unit garden-style apartment community in Hoover, Ala.

JLL represented borrower Westside Capital Group in arranging the three-year, floating-rate loan through Crestline Investors Inc.

Located at 7050 Rime Village Dr. in Hoover, the property underwent a $2.5 million capital improvement program that increased occupancy from 60% in May 2024 to 97% at closing. The repositioning included substantial unit refurbishments, clubhouse modernization with a new fitness center and upgraded amenities including a new pool deck and dog park.

JLL reported that the property achieved 21% rent increases on new leases signed in the third quarter of 2025 following completion of the capital improvements.

Skylar Ridge benefits from flexible R-4 zoning that allows for potential expansion of up to 360 additional units valued at approximately $50 million.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Jesse Wright and Director Joshua Odessky.

“Despite a competitive market environment, we were able to secure favorable terms that reflect both the property’s improved performance and significant remaining upside potential,” Wright said.

Hoover is located 10 miles southeast of downtown Birmingham, Ala.