JLL Capital Markets Arranges $30 Million to Refinance Two Communities in Michigan

by Channing Hamilton

PORTAGE AND MT. PLEASANT, MICH. — JLL Capital Markets has negotiated $30 million to refinance Davis Creek Apartments and Canterbury East in Michigan. JLL represented the borrower, The Millennia Cos., to secure the loan through Citigroup Inc. Jillian Mariutti and Alex Staikos led the JLL Capital Markets Debt Advisory team.

Situated at 5419 Meredith Street in Portage, Davis Creek Apartments was built in 1969 and renovated in 2013. The property comprises a total of 407 apartments, including 33 studios, 276 one-bedroom and 98 two-bedroom units. Amenities include two enclosed dog parks, pavilions with picnic and grilling areas and walking trails.

Canterbury East is a 152-unit community located at 1517 Canterbury Trail in Mt. Pleasant. The unit mix includes offers 82 one-bedroom and 70 two-bedroom units. The property offers amenities such as a pool, community room, fitness center and basketball courts.

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