$62.1M refinancing secured for North Carolina multifamily community

MIAMI, Oct. 19, 2026 – JLL Capital Markets announced today that it has arranged a $62.1 million refinancing for Exchange at Holly Springs, a 316-unit, Class A garden-style apartment community in Holly Springs, North Carolina.

JLL represented the borrowers, Myers Apartment Group (MAG) and Torchlight Investors, to secure the five-year, floating-rate loan through D2 Residential.

Built in 2020, Exchange at Holly Springs comprises 137 one-, 141 two-, and 38 three-bedroom units across 11 buildings on a 21.58-acre. High-end unit finishes include full-size washers and dryers, balconies or patios, stainless steel appliances and granite countertops. The community was 97% occupied at closing. Premium amenities include a saltwater pool, a 24/7 fitness center, walking trails, a pet spa and private garages.

Located at 1101 Club Exchange Drive, the property provides immediate access to Highway 55 and the new southern leg of the Triangle Expressway (NC-540). This location directly connects residents to Research Triangle Park (RTP), RDU International Airport and downtown Raleigh. Holly Springs is experiencing rapid growth, driven by billions of dollars in biomanufacturing investments from global companies like FUJIFILM ($3.2 billion), Genentech ($2 billion), and Amgen ($1.55 billion).

The community is situated in the South Cary submarket, which has grown 69% over the past five years. The surrounding area features affluent demographics, including an average household income of $165,784 within three miles. With only two assets under construction within a five-mile radius, projected net deliveries in 2026 and 2027 will decrease by 51% and 27% respectively, maintaining a highly supply-constrained market.

The JLL Capital Markets team representing the borrowers included Senior Managing Director Chris Drew, Directors Josh Odessky and Brad Woolard and Associate J.J. Hovenden.

"Debt funds continue to show deep liquidity for well-located assets with a clear growth story. Exchange at Holly Springs has immediate access to the newly opened NC-540 Expressway, sits near billions of dollars in life sciences investment and is positioned in a submarket where new supply is falling sharply,” said Odessky. “JLL sourced 77% leverage on a cash-neutral refinance, giving Myers Apartment Group and Torchlight the runway to ultimately sell from a position of strength. The execution reflects strong lender confidence in the asset's quality and its positioning within one of the Southeast's most dynamic growth markets."

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.

Myers Apartment Group (MAG) is a specialty multifamily investment firm focused on undervalued properties and other strategic acquisitions that fit their investment criteria. MAG predominantly focuses on infill submarkets throughout the Southeast and Texas. With more than 50 years of comprehensive real estate investment and third-party management expertise, as well as an established entrepreneurial culture, MAG is uniquely positioned to capitalize on select opportunities in today’s dynamic and complex commercial real estate market.

Torchlight Investors, LLC is an investment manager specializing in commercial real estate debt, offering institutional clients access to private and public market investment strategies. Since inception, Torchlight has managed over $30 billion in commercial real estate debt investments across the real estate capital stack, and currently has $5.8 billion of assets under management.