JLL Capital Markets arranged $ 172.9 million in financing for 14 multi-unit properties, totaling 1,334 units, located in the United States

JLL Capital Markets announced that it has arranged financing of $ 172.9 million for 14 multi-unit buildings, totaling 1,334 units, located across the United States

JLL worked on behalf of several Southern California borrowers to issue the 14 Fannie Mae 10- and 12-year fixed rate uncrossed loans. The loans will be managed by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.

Loans range from $ 6.1 million to $ 40.1 million, with five of the 14 loans being acquisition finance to acquire properties located in Boise, Idaho; Pooler, Georgia; and West Los Angeles, San Marcos, Escondido, California. The remaining nine loans were cash refinancings against properties in Bakersfield, Escondido and Sacramento, California; and Portland, Oregon.

All of the loans were part of Fannie Mae’s green finance program, allowing borrowers to obtain preferential pricing and additional loan products by investing in energy and water efficiency retrofits.

The JLL Capital Markets team representing borrowers was co-led by Director Keith Rosso and Managing Director Marc Schillinger.

“We are extremely grateful to our clients who trusted us to guide them through 14 separate and interconnected loan closings during a period of market volatility,” comments Rosso. “With the speed of our underwriting and closing teams, we are delighted that our borrowers were able to close quickly and lock in historically low interest rates. “

Schillinger notes: “We have seen a tendency for clients to cash in or sell some of their urban infill assets to buy multi-unit properties in sub-markets in suburban California and outside the state where there is. greater affordability as residents continue to work from home and seek cheaper alternatives to front door markets. JLL’s ability to handle multiple closings within strict timelines and in various states is a testament to the power of the national JLL Capital Markets platform. “

JLL offers multi-home investors a full range of solutions through a diverse and integrated platform. The division employs around 400 professionals who provide comprehensive investment advice and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the largest lenders of affordable and conventional multi-family housing and senior housing in the country, with comprehensive loan underwriting, asset management and loan servicing capabilities.

JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupants. The company’s in-depth knowledge of the local market and global investors provides the best solutions for clients, whether it is investment sale advice, debt placement, equity placement or recapitalization. The company has more than 3,700 capital markets specialists around the world with offices in nearly 50 countries.

Agency / GSE lending and loan servicing is provided by JLL Real Estate Capital, LLC, an indirect wholly owned subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are licensed under California finance law.


Source link

Leave a Reply

Your email address will not be published.