JLL Capital Markets arranges $302 million in debt and equity for a six-property 1,494-unit, multi-housing portfolio located throughout Maryland, Virginia and Alabama

 

Melissa Marcolini Quinn

 TAMPA, FL -- JLL Capital secured $262 million in debt and $40 million in equity for the refinancing of a six-property, 1,494-unit, garden-style multi-housing portfolio scattered across Maryland, Virginia and Alabama.

 JLL represented the borrower, Carter Multifamily, to secure the seven-year, floating-rate loans through Freddie Mac Multifamily.

 The loans will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. JLL also worked to secure the equity through an institutional investor.

 Lee Weaver

The JLL Capital Markets Central Florida Debt & Equity Advisory team represented the borrower and is led by Senior Managing Directors Melissa Marcolini Quinn and Lee Weaver.

 “Despite turbulent debt markets, we were able to facilitate a refinance of the portfolio with favorable senior financing from Freddie Mac, who was attracted to the deal due to the portfolio’s contribution to its mission and the borrower’s strong track record,” said Quinn.

 “The favorable senior loan terms and sponsorship attracted a lot of interest from equity investors, and we are happy to close this deal for the Carter team,” Weaver said.

 The multi-housing portfolio consists of:

·         Park at Kingsview Village, 13414 Daventry Way, Germantown, Maryland

·         Stonecreek Club, 12840 Locbury Circle, Germantown, Maryland

·         Hunt Club, 404 Christopher Ave., Gaithersburg, Maryland

·         Springwoods at Lake Ridge, 12395 Midsummer Ln., Woodbridge, Virginia

·         Windsor Park. 3937 Penshurst Ln., Woodbridge, Virginia

·         Oaks of St. Clair, 5050 Oaks of St. Clair Circle, Moody, Alabama

 

320-unit Park at Kingsview Village, Germantown, MD

Five of the properties are located within the Washington, D.C. suburbs, providing tenants access to the employment opportunities in and surrounding the District.

 The 326-unit Park at Kingsview Village, the 240-unit Stonecreek Club and the 336-unit Hunt Club are set in Germantown and Gaithersburg, Maryland, respectively, which are northwestern suburbs along Interstate 270.

 The 220-unit Windsor Park and the 180-unit Springwoods at Lake Ridge are both within Woodbridge, Virginia, a southern suburb approximately 23 miles from downtown Washington, D.C.

Situated in the Birmingham, Alabama MSA, the 192-unit Oaks of St. Clair is in Moody, Alabama, approximately 20 miles east of downtown Birmingham.

 

 Contacts:

Jenna Sharp, JLL Public Relations

Phone: +1 214 394 3356

Email: Jenna.Sharp@am.jll.com

carterfunds.com and cartermultifamily.com.