JLL Capital Markets recently arranged a $15.4 million refinance for Vistas at Villa Bella, a 102-unit garden-style apartment community in Pueblo.
JLL worked on behalf of the borrower, Brinkman Real Estate, to originate the five-year Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC.
Vistas at Villa Bella, located at 2195 Alamosa Dr. in Pueblo, is a 2009-built property that underwent extensive renovations in 2022. The 22.31-acre community features one- and two-story buildings offering two-, three- and four-bedroom units with an average size of 1,256 square feet and average monthly rent of $1,804 per unit.
Since acquiring the property, Brinkman Real Estate has invested in capital improvements, including complete renovations of all 102 units with new flooring, paint, cabinets, countertops and fixtures. The sponsor also upgraded exterior buildings, improved landscaping, renovated the clubhouse and added new community amenities, including grill stations and dedicated picnic areas.
The property offers residents numerous amenities including in-unit washers and dryers, private entrances, central air and heating and access to expansive green space surrounding the clubhouse. Community features include 24-hour emergency maintenance, on-site management and pet-friendly policies with waste disposal stations.
Pueblo’s multifamily market has shown improvement with 110 units of net absorption over the past year and a vacancy rate of 8.5%. The market has experienced 3.7% year-to-date rent growth in 2025 with no new construction currently underway.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Director Rob Bova.
“This refinancing allows Brinkman Real Estate to optimize their capital structure while continuing to enhance this well-positioned asset in Pueblo’s growing multifamily market,” said Bova. “The significant value creation achieved through their strategic improvements and repositioning demonstrates the strength of their investment thesis.”
