SAN FRANCISCO, CA – JLL Capital Markets today announced that it has arranged $8.2 million in acquisition financing for Sunnyview Village, a 58-unit garden-style value-added-unit community in Salem, Oregon.
JLL represented the borrower, One Degree Acquisitions, in securing the three-year variable rate loan with two one-year extensions through Ready Capital.
Built in 1997, the two-story Sunnyview Village consists of seven buildings. The community offers an average area of 916 square feet and has 122 parking spaces. The new owner will invest capital to improve the asset with a focus on refreshing existing amenities and improving curb appeal.
Located at 4200 Sunnyview Rd., the property offers convenient freeway accessibility with its location directly off Route 99E and Interstate 5. Additionally, the community is near several major employers, including the state capital of Oregon and surrounding government offices, Salem Hospital global e-commerce distribution center.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Charles Halladay, Director Jonah Aelyon and analyst Alek Kaculini, and Director Charlie Watson.
“One Degree Acquisitions continues to find great opportunities that benefit from the strong fundamentals seen in multi-residential products today,” Halladay said. “Sunnyview is a great example of that, and Ready Capital did a great job closing this loan in today’s volatile lending environment.”