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| Amanda Friant |
CHICAGO, IL, July 26, 2021 – JLL Capital Markets announced today that it has closed the sale of and arranged $28.275 million in acquisition financing for 1 Glenn Place, a 191-unit, multi-housing community in the suburban Madison community of Fitchburg, Wisconsin.
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| Wick Kirby |
JLL
marketed the property at 5351 Nobel Drive on behalf of the seller, Fiduciary
Real Estate Development, which developed, constructed and managed 1 Glenn Place
and held the asset for three years.
An
affiliate of Banner Real Estate Group acquired the property.
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| Matthew (Matt) Schoenfeldt |
The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Director Matthew Schoenfeldt.
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| 1 Glenn Place, a 191-unit, multi-housing community at 5351 Nobel Drive in the suburban Madison community of Fitchburg, WI |
“Suited to Banner’s investment strategy, 1 Glenn is the epitome of long-term ‘forever real estate,’” Schoenfeldt said. “We were delighted that the lending market recognized this and responded with exceptionally strong financing terms.”
Additionally, working on behalf of the new owner, JLL secured the seven-year, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.
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Contact:
Cierra Lacasse
JLL Associate, Public Relations
Phone: +1 602 648 8701
Email: Cierra.Lacasse@am.jll.com
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