Newly built 228-unit apartment community secures $125M financing in downtown Glendale

SAN FRANCISCO, Dec. 16, 2025 –  JLL Capital Markets announced today that it has secured a $125 million financing for TenTen Campus, a newly built 228-unit Class A multifamily asset located in downtown Glendale.

JLL represented the borrower, Amidi Real Estate Group, in securing a loan through Oaktree Capital Management.

TENTEN Campus is strategically positioned at 414 N. Orange St. in downtown Glendale, providing residents convenient access to major employment centers including Disney, DreamWorks Animation and other key entertainment employers. The property sits within walking distance of premier retail destinations including Americana at Brand and Glendale Galleria.

The eight-story mid-rise apartment community totals 220,018 square feet and offers a diverse unit mix of studios, one- and two-bedroom apartments with an average unit size of 942 square feet. The property obtained its temporary certificate of occupancy in November 2024 and has demonstrated exceptional leasing velocity since resident move-ins commenced in February 2025, achieving 95% occupancy prior to the transaction closing.

TENTEN Campus offers premium amenities including a resort-style pool and spa, rooftop terrace with skyline views, state-of-the-art fitness center with steam room and sauna, business center and more than 5,200 square feet of ground-floor retail space. Unit features include floor-to-ceiling windows, stainless steel appliances, in-unit washers and dryers, quartz countertops and personal balconies in select units.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Director Chris Gandy and Directors Ethan Habecker and Max Mraz.

"TENTEN Campus represents the newest Class A inventory in a supply-constrained market with strong fundamentals," said Gandy. "The property's premium location in downtown Glendale, combined with its high-quality construction and amenity package, positions it well to achieve full stabilization."

"The Glendale submarket continues to benefit from healthy rental growth, low vacancy rates and limited new supply," added Habecker. "TENTEN Campus is well-positioned to command top-of-market rents given the limited high-quality multifamily options available to renters."

The financing allows Amidi Group to retire existing construction debt and preferred equity while providing capital for continued operations as the property approaches full stabilization and concessions burn off.

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.

For more news, videos and research resources, please visit JLL’s newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

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. 

Amidi Real Estate Group is led by principal managers Rahim Amidi and Saeed Amidi, who bring 65 years of combined expertise in start-ups, international trading, manufacturing and distribution across various industries including real estate development. The company specializes in creating community-based real estate development projects designed for the technology and entertainment industries, as well as live-work communities for professionals across all sectors. Amidi Real Estate Group operates both domestically and internationally, leveraging decades of experience in real estate development and diverse business ventures.

Oaktree is a global investment manager specializing in alternative investments with $218 billion in assets under management as of September 30, 2025. The firm employs an opportunistic, value-oriented and risk-controlled approach across credit, equity and real estate investments. With more than 1,400 employees in 26 cities worldwide, Oaktree maintains a leading position among alternative investment managers.