Dealmaker: JLL Secures $53M for Pompano Beach Apartment Community

(Illustration courtesy of JLL)

JLL Capital Markets, Chicago, secured $53.3 million in acquisition financing for Advenir at Lighthouse Point, a 249-unit apartment community in Pompano Beach, Fla.

JLL represented borrower Advenir Azora, Miami, and arranged the five-year fixed-rate loan through Freddie Mac, McLean, Va. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender.

JLL Capital Markets Managing Director Jesse Wright, Associate JJ Hovenden and Analyst Luke Maganas led the debt advisory team.

Advenir at Lighthouse Point is located at 4611 N Federal Highway in Pompano Beach, near employment centers in downtown Fort Lauderdale, Plantation, Cypress Creek, Coconut Creek and Boca Raton.

Built in 2015, Advenir at Lighthouse Point is a six-story building with one-, two- and three-bedroom units averaging 887 square feet. The property is currently 95% occupied.

Matthew Zaverucha, partner of investments at Advenir Azora, noted the area’s strong demographic trends, ongoing coastal redevelopment and constrained new supply create an ideal environment for high-quality multifamily investment.