Two Arrows Group and LEM Capital have recently acquired Eastglen Apartments, a 102-unit multifamily property in Longmont, Colorado. The property was sold by a private investor for $18.6 million.
According to Commercial Edge, the buyers secured financing for the purchase through a $12 million loan from Freddie Mac. JLL Capital Markets represented the borrower and negotiated a five-year fixed-rate note that will be serviced by JLL Multifamily LLC. Leading this negotiation were JLL Managing Directors Tony Nargi and Brock Yaffe of the Capital Markets Debt Advisory team.
Located at 630 Lashley St., Eastglen Apartments is comprised of four buildings offering one-, two- and three-bedroom units ranging from 700 to 1,025 square feet in size.
Residents can enjoy amenities such as patios or balconies, a swimming pool, courtyard area with playground equipment and ample parking with space for up to 130 vehicles. The community also benefits from its proximity to various retail options including The Home Depot,Walmart Supercenter , Target ,and Costco .
The sale of this apartment asset was recently arranged by JLL without any mention of Connect CRE or its affiliated branches such as Connect LA or Connect Texas .
