JLL facilitates $76.9 million loan and joint venture equity for The Shops at Evergreen Walk

South Windsor, CT JLL Capital Markets has arranged joint venture equity and a $76.9 million acquisition loan for The Shops at Evergreen Walk, a 357,742 s/f retail center.

JLL represented the borrower, Brand Street Properties, in securing joint venture equity with global asset management firm, Barings. JLL also represented the partnership in securing the acquisition loan through an international bank.

The Shops at Evergreen Walk is one of the region’s most dynamic retail destinations and recently celebrated its 20^th anniversary. Over the past several years, the center has undergone strategic repositioning and redevelopment, welcoming a lineup of sought-after, destination retailers that have strengthened its regional draw in the Hartford area. Recent and notable additions include Whole Foods, lululemon, Golf Lounge 18, J.Crew Factory, Gap Factory, Nike, Bluemercury, along with a growing mix of national brands, specialty retailers, dining and service-oriented businesses. The center sits within a master-planned development that includes residential communities, hotels, fitness facilities and other complementary uses, creating a vibrant mixed-use environment.

Located along I-84, The Shops at Evergreen Walk serve as a regional destination for shopping, dining and entertainment. The property is also known for its robust calendar of seasonal events, family-friendly programming, and experiential offerings that extend beyond traditional retail. The region benefits from a highly educated workforce, numerous colleges and universities and a diverse economy spanning healthcare, aerospace and financial services.

JLL Capital Market’s team of senior managing director Chris Angelone and senior director Zach Nitsche led the equity advisory placement, while the debt advisory team was led by senior managing director Scott Aiese. Analytical support on both transactions was led by associate Sam Wiesman.

“The Shops at Evergreen Walk is a dynamic, well-located asset with best-in class retailers and great momentum,” said Angelone. 

“In addition to stable in-place cash flow from a powerful tenant roster, The Shops at Evergreen Walk offers multiple pathways to add value,” said Aiese. 

“With a thoughtful business plan and a strong foundation established over the last five years managing the property, Brand Street Properties and their institutional partner Barings are the kind of borrower that lenders actively seek out in today’s market. We are thrilled to close this loan with the partnership.”