Arcadia Huntsville lands $53M refinancing

• JLL arranges $53 million refinancing for Bobo Development Group and its limited partner, Revitate

• Arcadia Huntsville is a 250-unit Class A luxury apartment community with 18,000 square feet of ground floor retail space in Huntsville, Alabama

• The newly constructed mid-rise property benefits from its strategic location within Cummings Research Park, the second-largest research park in the United States, providing residents access to Huntsville's robust employment ecosystem

ATLANTA, Sept. 29, 2026 –  JLL Capital Markets announced today that it has arranged $53 million in refinancing for Arcadia Huntsville, a 250-unit luxury apartment community in Huntsville, Alabama.

JLL worked on behalf of the borrower, Bobo Development Group, and limited partner, Revitate, to secure the senior financing.

Delivered in 2024, Arcadia Huntsville features 250 units across studio, one-bedroom, and two-bedroom floor plans. The property also includes 18,000 square feet of ground floor retail space, with tenants that include a national fitness concept, medical practice and coffee shop. Units feature contemporary finishes, including stainless steel appliances, granite countertops, designer lighting, double vanities, oversized walk-in closets, smart home technology and premium flooring. The community offers structured parking, elevator access to all units and an exceptional amenity package including a heated saltwater pool, clubhouse with demonstration kitchen, state-of-the-art fitness center with Echelon bikes, outdoor grilling stations and lounge areas with gas fire pits, dedicated co-working spaces, dog park and pet spa, and electric vehicle charging stations.

Arcadia occupies a highly sought-after corner location at 4810 Bradford Drive NW within Cummings Research Park, the second-largest research park in the United States and fourth-largest globally. This positioning provides residents access to Huntsville's robust employment ecosystem, which includes Fortune 500 headquarters, major defense contractors, aerospace companies and cutting-edge technology firms. The University of Alabama in Huntsville, with over 8,000 enrolled students, is less than two minutes away, providing a consistent pipeline of educated renters entering the workforce.

The property benefits from exceptional connectivity, located less than two miles from Interstate 565, within a 10-minute drive of Downtown Huntsville, and 15 minutes from Huntsville International Airport. Residents enjoy immediate access to premier lifestyle destinations including the MidCity District, a transformative $2.2 billion mixed-use development featuring the 8,000-seat Orion Amphitheater, Topgolf, upscale dining and retail and outdoor gathering spaces. Additional nearby attractions include Huntsville Botanical Garden, the U.S. Space & Rocket Center, Toyota Field (home of the Rocket City Trash Pandas), and Bridge Street Town Center.

Huntsville has experienced exceptional growth, with 38% population growth since 2010, far exceeding the national average. The metropolitan area continues to benefit from substantial federal investment in defense and aerospace programs, with ongoing expansion at Redstone Arsenal and related private-sector growth driving sustained employment gains. The city ranks as the #2 best place to live in the U.S. according to U.S. News & World Report (2023-2024) and features Alabama's #1 largest city with a 2.05% unemployment rate, well below the 4.4% national rate.

JLL's Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Gregg Shapiro, Director Anthony Sansone, Vice President Kelsey Bawcombe, Associate Connor McCarthy and Analyst Jada Cooper.

"Arcadia represents best-in-class multifamily construction in one of the Southeast's most dynamic growth markets," said Shapiro. "The property's strategic location within Cummings Research Park, combined with its exceptional amenity package and proximity to major employers and lifestyle destinations, positions it to capitalize on Huntsville's continued economic expansion and robust renter demand. This financing provides the sponsorship with flexible capital to complete the lease-up and achieve stabilization."

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 112,000 as of June 30, 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.