In 2025, JDI Realty provided a bridge loan to a repeat borrower acquiring a 226-unit multifamily portfolio spread across three properties in the Quad Cities area of Iowa and Illinois: a 120-unit complex built in 1967 in Davenport, Iowa, a 36-unit asset from 1977 in Bettendorf, Iowa, and a 70-unit property from 1979 in Moline, Illinois. These well-located, older-vintage apartments, sitting on a combined 8.57 acres, offer affordable housing for working-class residents and maintain a strong 95% occupancy rate despite prior under-management. The sponsor has established a 99-year escalating ground lease, with JDI financing the ground lessor’s position to facilitate a rapid closing. With planned upgrades to units and grounds, plus market-driven rent increases, the portfolio is poised to enhance its already solid performance in this stable market. JDI’s loan supports the sponsor’s strategy to refinance within a year, leveraging our history of successful collaborations.
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