Refinancing secured for The Opal multifamily community in West Valley City, Utah

DENVER, April 1, 2026 –  JLL Capital Markets announced today that it has arranged a successful refinancing for The Opal, a newly constructed, 262-unit Class A multifamily community in West Valley City, Utah.

JLL worked on behalf of the borrower, TPG Angelo Gordon and Timberlane Partners.

Completed in September 2024, The Opal features a mix of studios, one- and two-bedroom apartments with sophisticated modern finishes and an extensive amenity package. The property showcases a glass-structured fitness center overlooking an elevated amenity deck with an outdoor swimming pool and hot tub, pickleball courts, a high-end clubroom and more. The three- and five-story building offers 447 parking spaces across a structured garage and surface lot.

Located at 2600 W. 3800 S., The Opal sits just 10 miles southwest of downtown Salt Lake City off Interstate 215, offering residents excellent access to the metro's recreational amenities, including the Wasatch Mountains and Park City, as well as employment opportunities across the region's more than 650,000 jobs. The property is within a five-minute walk of top-tier retail.

In the West Valley City multifamily submarket, only 17 percent of inventory was built after 2015, with zero projects currently proposed or under construction. The Salt Lake City metro's population has increased by 17.6 percent from the 2010 U.S. Census to 2024, significantly surpassing the national growth rate of 9.5 percent. Within one mile of The Opal, the population is expected to grow five percent over the next five years.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Director Leon McBroom, Senior Director Jack Hunsicker and Associate Ellie Savage.

"The Opal represents best-in-class multifamily product in a submarket with significant barriers to new construction and strong demographic tailwinds," said McBroom. "The sponsorship's institutional approach and the property's strategic positioning in one of the nation's fastest-growing metros generated substantial lender interest."

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 December 31, 2025. 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.