**JLL Secures $59M Financing for Ellipse Urban Apartments in Hampton, VA**
JLL has successfully arranged $59 million in financing for Ellipse Urban Apartments, a 287-unit luxury residential community located in Hampton, Virginia.
The financing was secured on behalf of a joint venture between Madison International Realty and The Accend Companies. The floating rate loan was provided by funds managed by affiliates of Fortress Investment Group. JLL Capital Markets’ Debt Advisory team was led by Senior Managing Directors Steven Klein and Jim Cadranell, alongside Senior Director Reina Abboud and Associate John Cumming.
Located at 2001 Commerce Drive, Ellipse Urban Apartments offers convenient access to major transportation routes including I-64, I-664, and Route 60, and is just 15 minutes from the Hampton Roads Bridge-Tunnel. The property features a mix of studio, one-, two-, and three-bedroom apartments.
“Ellipse Urban Apartments represents a unique multifamily investment opportunity due to its high proportion of military personnel within the tenant base and specialized Home 4 Now program offering furnished units with flexible lease terms,” said Steven Klein.
The property’s strategic location and tailored leasing options position it as a valuable asset in the region’s growing multifamily market.
