JLL has arranged a $75 million construction loan for The VIC Phase 1, a 250-unit multifamily development in Vancouver, Washington.
JLL represented the borrowers, Rabina and New Blueprint Partners, in securing the three-year, floating-rate construction loan. JLL Capital Market’s Debt Advisory team, representing the borrower, was led by Senior Managing Director Casey Davidson and Director Charlie Watson.
The VIC Phase 1, located at 18110 SE 34th St., is the first phase of a 180-acre master-planned community designed to combine residential, retail and light industrial uses into a walkable, mixed-use neighborhood. The community will be developed around the existing Vancouver Innovation Center, consisting of 700,000 square feet of office, flex and light industrial space.
The VIC Phase 1 comprises 16 acres featuring three residential buildings, a 10,000-square-foot clubhouse and a neighborhood park. The project includes 250 units, 20 percent of which will be affordable housing, with an average unit size of 822 square feet and 283 parking spaces.
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