Bend on Bluebonnet: $42.75M refinancing secured for 301-unit luxury community in Louisiana's capital

NEW YORK, July 27, 2026 –  JLL Capital Markets announced today that it has facilitated a $42.75 million refinancing for Bend on Bluebonnet, a 301-unit luxury multifamily community in Baton Rouge, Louisiana.

JLL represented the borrowers, TWG Development and Mandrake Capital Partners, in arranging the three-year, floating-rate loan through Balbec Capital LP.

"Our partnership with Mandrake Capital Partners has been instrumental in bringing Bend on Bluebonnet to life," said Joel Henney of TWG Development. "Building on our successful multifamily developments together across the Midwest and Southeast, their alignment on vision and strategic approach to capital deployment has enabled us to deliver a best-in-class community that sets a new standard for luxury living in Baton Rouge's South corridor."

Bend on Bluebonnet, completed in October 2023, spans approximately 288,000 rentable square feet across four mid-rise buildings on a 13.17-acre site. The modern apartment community features a thoughtful mix of one-, two- and three-bedroom units, all designed with contemporary finishes including granite countertops, stainless steel appliances, tile backsplashes and full-size in-unit washers and dryers. Residents enjoy resort-style amenities including a 24-hour fitness center, pool with outdoor lounge and firepit, co-working lounge with coffee bar, pet park with washing station and grilling stations.

Located at 10231 Bluebonnet Blvd. in East Baton Rouge, Bend on Bluebonnet offers residents immediate access to the city's most vibrant retail and dining corridor while maintaining proximity to major employment centers including Louisiana State University, the state capitol complex and the ExxonMobil refinery, the fifth largest refinery in the United States and tenth largest in the world. The property sits along Bluebonnet Boulevard, which sees over 22,000 vehicles daily and provides direct connectivity to Interstate 10.

JLL Capital Market’s Debt Advisory team was led by Managing Director Michael Zaremski and Director Clayton Ross.

"This refinancing demonstrates strong lender confidence in both the Baton Rouge multifamily market's fundamentals and the quality of this newly delivered asset," said Zaremski. "The property's strategic location along Bluebonnet Boulevard, combined with its contemporary design, extensive amenity package and the sponsorship team's proven track record, positions Bend on Bluebonnet exceptionally well as it progresses toward stabilization.”

Baton Rouge continues to demonstrate economic resilience as Louisiana's second-largest metropolitan area, anchored by diverse sectors including government, petrochemical, education and healthcare. The region supports a workforce of over 435,000 with an unemployment rate of 3.7%, while Louisiana State University alone contributes a $6.1 billion economic impact annually with over 6,500 employees and 34,200 undergraduates.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

TWG Development, a vertically integrated real estate company headquartered in Indianapolis, has developed over 11,275 units across 21 states totaling more than $2.7 billion in real estate since its founding in 2007. 

Mandrake Capital Partners is a vertically integrated real estate investment and development firm formed in 2019. Mandrake has significant debt and equity transaction experience across a diverse range of property types including, but not limited to residential, retail, industrial, office, hotel, senior assisted living, self-storage, student housing, and master planned communities. In the residential space Mandrake has capitalized and/or developed 27 projects, representing 5,000+ rental units.