Tuesday, June 9, 2020

JLL arranges $185.63 million financing for Phoenix-area multi-housing properties


Autumn Creek Apartments, Chandler, AZ

PHOENIX, AZ – JLL Capital Markets announced it has arranged a refinancing totaling $185.63 million for a 1,439-unit portfolio of five multi-housing properties in and around Phoenix, Arizona.

JLL worked on behalf of the borrower, a partnership between Wealhouse Capital Management and Western Wealth Capital, to secure five, seven-year, floating-rate non-recourse loans through Freddie Mac.

Scott Morrison
The loans will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.

The portfolio comprises the Carlyle Apartments and the Carlyle Townhomes in Phoenix; Greentree Place and Autumn Creek in Chandler; and Spring Meadow in Glendale.

The properties are garden-style and were constructed between 1981 and 1996 and feature a range of amenities, including resort-style pools, clubhouses, fitness rooms, basketball courts, valet trash service, green areas and dog parks.

The assets are situated in excellent locations throughout metropolitan Phoenix, which is the nation’s No. 1 multi-housing market in terms of historical and projected rent growth.

“Wealhouse is happy with our continued investments in initiatives that bring benefits to the tenants such as upgrading the energy efficiency of the properties and improving ESG,” said Scott Morrison, CEO of Wealhouse Capital.

 Josh Simon
“We also look forward to continuing our investments in Phoenix and its surrounding sub-markets as we continue to anticipate leading population and economic growth.”

The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon and Senior Director Brad Miner.

“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,” Miner said.

“It’s always a pleasure working with the borrower and their impressive portfolio, and we are grateful for our partners at Freddie Mac, who remained steadfast through the process and executed their part expertly,” Simon added.

Brad Miner




JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform.

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.

JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Kimberly Steele
JLL Senior Associate
 Public Relations
Phone: +1 713 852 3420


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