JLL Capital Markets brokers $11 million in financing for 150-unit Booth Residences in Cincinnati, OH

  

Booth Residences, a 150-unit affordable
 housing property located at 6000
Townevista Drive in Cincinnati, OH

 LOS ANGELES, CA, Nov. 27, 2023 –  JLL Capital Markets has arranged $11 million in financing for Booth Residences, a 150-unit affordable housing property located at 6000 Townevista Drive in Cincinnati, Ohio.

 

JLL worked on behalf of the borrower, The Salvation Army, to secure a HUD “Heavy” 223(f), fixed-rate loan, 35 years fully amortizing to preserve and renovate the senior housing community.

Booth Residences was built in 1981 with a modest renovation completed in 2006 utilizing Low Income Housing Tax Credits (“ LIHTCs “). The property is subject to rent restrictions through a Regulatory Agreement. 

 The Salvation Army will complete upgrades for accessibility / ADA, unit and building improvements, as well as common areas. The renovation work schedule is 12 months.

Anson Snyder

The JLL Capital Markets Debt Advisory team was led by Senior Director Anson Snyder.

“JLL was tasked with providing a long-term, fixed rate, non-recourse loan solution that would allow The Salvation Army the ability to provide required upgrades that directly assist the residents,” said Snyder. “JLL’s HUD team is highly experienced and able to navigate the loan requirements to accomplish a successful loan option.”

For more news, videos and research resources, please visit JLL’s newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.  

 

  CONTACT:

   

Alli Stent (Semans)

PR, Hotels & Hospitality,

 Capital Markets

JLL
M +1 330 329 6750

 

jll.com. 

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