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JLL arranges $318.45M financing for multi-housing portfolio

JLL’s Capital Markets group announced Monday it secured a $318.45 million acquisition loan for a six-property, 1,494-unit multi-housing portfolio, including three properties in Maryland.

JLL represented the borrower, Carter Multifamily, to secure the floating-rate, non-recourse bridge loan through J.P. Morgan Chase Bank that will facilitate a Single Asset Single Borrower (SASB) securitization, which is a single-loan large enough to create its own pool for securitization.

The multi-housing portfolio consists of  Park at Kingsview Village, 13414 Daventry Way, in Germantown; Stonecreek Club, 12840 Locbury Circle, in Germantown; and Hunt Club, 404 Christopher Ave., in Gaithersburg; Springwoods at Lake Ridge, 12395 Midsummer Lane, in Woodbridge, Virginia; Windsor Park. 3937 Penshurst Lane, in Woodbridge, Virginia; and the Oaks of St. Clair, 5050 Oaks of St. Clair Circle, in Moody, Alabama.

Featuring garden-style construction with competitive amenities, the overall portfolio benefits from the surging demand for workforce housing.

JLL’s Capital Markets Debt Advisory team that represented the borrower was led by Senior Managing Directors Melissa Marcolini Quinn and Lee Weaver, Director Drew Jennewein, Vice President Rob Rothaug and Associates Emily Moallem and Cody Mizelle.

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.