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Market-Rate Hauppauge Apartments Refinanced for $63M
JLL Capital Markets completed the $62.5-million refinancing of Carlow Wind Watch, a newly constructed luxury multifamily property located at 1721 Motor Pkwy. in the Long Island hamlet of Hauppauge, NY.
A JLL Capital Markets team led by senior managing director Aaron Niedermayer and senior director Robert Tonnessen worked on behalf of the borrower, Southern Land Company, a Nashville-based developer with a national footprint, to secure the financing from affiliates of Apollo.
“The lending market recognized that Southern Land Company is best-in-class and that with Carlow Wind Watch, they have brought a new level of luxury living to Suffolk County,” said Niedermayer. “We received a tremendous amount of lender interest and are pleased to have had another successful execution with the Apollo team.”
Completed in the fourth quarter of 2024, Carlow Wind Watch features two buildings—five- and seven-story, respectively— with a total of 150 market-rate apartments.
- ◦Financing
