JLL Capital Markets closes sale of 1 Glenn Place in Fitchburg, WI to an affiliate of Banner Real Estate Group and arranges $28 million in acquisition financing

 

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.

 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. 

Matthew (Matt) Schoenfeldt

The JLL Capital Markets Investment Advisory team representing the seller included Senior Director Wick Kirby and Director Amanda Friant.

 The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Director Matthew Schoenfeldt.

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