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JLL Tapped for Equity Raise on BRP’s Archer Towers

JLL Capital Markets was selected by BRP Companies to arrange joint venture equity financing for the construction of the $286-million Archer Towers project. The residential development is located at 163-05 Archer Ave. in the rapidly-evolving Jamaica submarket of Queens.

Phase 1 of Archer Towers, located in an Opportunity Zone, will offer 605 residential units, including 424 market-rate apartments. It’s expected that an investor will also consider participating in the project’s second phase. This future addition will add 432 units to the overall project.

The JLL Capital Markets team handling the JV equity raise for BRP is led by Rob Hinckley and Jeff Julien, and also includes Andrew Scandalios, Roland Merchant, Stephen Palmese, Steven Rutman, Nicco Lupo and Rob Root.

“Archer Towers represents the largest shovel-ready residential rental construction site in New York City,” said Hinckley. “We are excited to discuss this investment with Opportunity Zone and traditional investors alike.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).