CHICAGO, IL - JLL Capital Markets announced today that it has arranged $172.9 million in financing for 14 multi-housing properties, totaling 1,334 units, located throughout the U.S.
JLL worked on behalf of multiple southern California-based borrowers to originate the 14 uncrossed, 10- and 12-year, fixed-rate Fannie Mae loans. The loans will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.
The loans range from $6.1 to $40.1 million, with five of the 14 loans being acquisition financing to acquire properties located in Boise, Idaho; Pooler, Georgia; and West Los Angeles, San Marcos, Escondido, California. The remaining nine loans were cash out refinances backed by properties located in Bakersfield, Escondido and Sacramento, California; and Portland, Oregon.
All loans were part of Fannie Mae’s Green Financing program, allowing the borrowers to obtain preferential pricing and additional loan proceeds by making investments in energy and water efficient retrofits.
The JLL Capital Markets team representing the borrowers was co-led by Director Keith Rosso and Managing Director Marc Schillinger.
“We are extremely thankful to our clients who trusted us to navigate them through 14 separate and interconnected loan closings during a period of market volatility,” comments Rosso. “Thanks to the swiftness of our underwriting and closing teams, we’re thrilled our borrowers were able to quickly close and lock in historically low interest rates.”