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Carter Multifamily Secures $319M for Six-Property Portfolio across MD, VA and AL
JLL has secured a $318.5-million acquisition loan for a six-property, 1,494-unit multi-housing portfolio:
- Park at Kingsview Village, Germantown, MD
- Stonecreek Club, Germantown, MD
- Hunt Club, Gaithersburg, MD
- Springwoods at Lake Ridge, Woodbridge, VA
- Windsor Park, Woodbridge, VA
- Oaks of St. Clair in Moody, AL
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 JLL team included Melissa Marcolini Quinn, Lee Weaver, Drew Jennewein, Rob Rothaug, Emily Moallem and Cody Mizelle.
“This portfolio acquisition featured multiple sellers and a compressed timeframe, with less than 30 days from signed term sheet to closing,” said Quinn. “”The team at JP Morgan was able to provide an attractive, short-term, balance sheet financing option, which is ideal for the planned SASB take out.”
Photo: Oaks of St. Clair in Moody, AL
- ◦Sale/Acquisition
- ◦Financing
