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JLL Arranges Development Capitalization for Wakefield MF Community
JLL Capital Markets has arranged capitalization for 200 Quannapowitt, a 440-unit transit-oriented multifaminy community in Wakefield, Massachusetts, on Lake Quannapowitt. Terms of the deal were not disclosed. Working on behalf of developer Cabot, Cabot & Forbes, JLL secured joint venture equity with Equity Residential with a team led by Brett Paulsrud, Andrew Gray and Mike Shepard.
Situated along I-95 in Boston’s 128 North corridor, the property will offer one-, two-, and three-bedroom units, with 18% designated as affordable. Amenities include coworking spaces, an outdoor pool, fitness center, grilling areas, a skydeck clubhouse, commuter rail shuttle, and courtyards.
“Greater Boston multi-housing fundamentals remain strong and leading institutional investors continue to focus on quality investment opportunities in the space,” said Paulsrud. “The Cabot, Cabot & Forbes team worked tirelessly with the community to prepare a project that incorporates the feedback from a wide array of stakeholders and will offer much needed rental housing to Boston’s suburbs.”
- ◦Financing
