MIAMI, Dec. XX, 2025 –  JLL Capital Markets announced today that it has secured a $21.825 million refinancing for Skylar Ridge, a 140-unit garden-style apartment community in Hoover, Alabama.

JLL represented the borrower, Westside Capital Group, in arranging the three-year, floating-rate loan through Crestline Investors Incorporated.

Located at 7050 Rime Village Dr. in Hoover, the property underwent a comprehensive $2.5 million capital improvement program that transformed occupancy from 60% in May 2024 to 97% at closing. The strategic repositioning included substantial unit refurbishments, clubhouse modernization with a new fitness center and upgraded resort-style amenities including a new pool deck and dog parks.

The property demonstrates strong rent growth potential, having achieved 21% rent increases on new leases signed in the third quarter of 2025 following completion of the capital improvements.

Strategically positioned in Hoover, an established suburban enclave 10 miles southeast of downtown Birmingham, Skylar Ridge offers residents exceptional accessibility to key employment nodes and retail centers including a 10-minute drive to Riverchase Galleria, Alabama's largest enclosed shopping center. The property benefits from flexible R-4 zoning that allows for potential expansion of up to 360 additional units valued at approximately $50 million.

Established in 2017, Westside Capital Group is a real estate private equity firm focused on opportunistic investment in underutilized multifamily and mixed-use assets across the Sunbelt and Southeast United States. The firm has amassed $1.2 billion in existing assets and $3 billion of projects currently under development.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Jesse Wright and Director Joshua Odessky.

"The successful repositioning of Skylar Ridge demonstrates the value creation potential in well-located assets with the right capital improvements and Westside’s unique ability to turn around assets in very short timeframes ahead of schedule and below budget," said Wright. "Despite a competitive market environment, we were able to secure favourable terms that reflect both the property's improved performance and significant remaining upside potential."

“This financing reflects the strength of Westside’s platform and our ability to execute across both operations and the capital markets. While Skylar Ridge is a compelling standalone success, it represents just one component of a broader, portfolio-wide strategy across our $1 billion plus existing assets and $3 billion development pipeline under development focused on optimizing our capital structure and unlocking long-term value,” said Jeff Levin, Westside’s lead Principal and Head of Capital Markets. As we look ahead to 2026, we are laser focused on expanding the portfolio through strategic acquisitions while advancing our development pipeline, supported by an improving macroeconomic backdrop.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. 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^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Westside is a private equity real estate company started and led by Jakub Hejl, an investor, real estate developer, entrepreneur, and philanthropist. Westside invests in underutilized real estate companies and assets, including real estate development, distressed properties, real estate operating businesses and public-private partnerships. The company specializes in opportunistic investing, enabling it to move between geographies, asset classes and positions in the capital stack as risk-return dynamics evolve. Westside has developed expertise in both geographic markets and asset classes to execute this strategy. The firm has amassed $1.2 billion in existing assets and $3 billion of projects currently under development.

Crestline Investors is a global alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Tokyo and Toronto. The firm has approximately $18 billion of credit assets under management (as of June 30, 2025) including its capital solutions, direct lending and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.