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| 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.
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| Scott Morrison |
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.
“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.”
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| Josh Simon |
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.
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| 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.
CONTACT:
Kimberly
Steele
JLL
Senior Associate
Public Relations
Phone: +1 713 852 3420
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