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JLL Arranges $186M Financing for Metro Phoenix MFs
JLL Capital Markets arranged a refinancing totaling $185.63 million for a 1,439-unit portfolio of five multi-housing properties in Metro Phoenix. The borrower was a partnership between Wealhouse Capital Management and Western Wealth Capital.
The portfolio comprises the Carlyle Apartments and the Carlyle Townhomes in Phoenix; Greentree Place (pictured) and Autumn Creek in Chandler; and Spring Meadow in Glendale. The garden-style properties were constructed between 1981 and 1996, and feature such amenities as resort-style pools, clubhouses, fitness rooms, basketball courts, valet trash service, green areas and dog parks.
JLL’s Josh Simon and Brad Miner secured five, seven-year, floating-rate non-recourse loans through Freddie Mac. The loans will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo lender.
Miner says, “The Phoenix multi-housing market has remained extremely resilient during this current pandemic, affording us the opportunity to provide significant financing, in terms of multi-housing assets in the Phoenix area, to Wealhouse and Western Wealth teams on these five assets.”
Be sure to register for the Connect National Multifamily Update – June webinar, coming up on Thursday, June 11.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
