Vanderpoel will co-lead the platform with Senior Managing Director Steve Henderson

CHICAGO – Sept. 22, 2021 – JLL announced today that Luke Vanderpoel has been appointed Senior Managing Director and co-lead of the company’s Freddie Mac platform alongside Senior Managing Director Steve Henderson.

Vanderpoel has nearly 20 years of experience in commercial real estate with a specialization in Agency debt and Freddie Mac loan programs. Over the course of his career, he’s been involved in more than $25 billion of commercial real estate transactions, including Freddie Mac originations. He began his career as a Production Analyst with HFF, which was acquired by JLL in 2019. 

For the sixth consecutive year in a row, JLL was ranked the #1 Freddie Mac Affordable Housing Lender in 2020. JLL also ranked the #3 Freddie Mac Multi-housing Lender by volume in 2020 with year-end transaction volume totaling $9.9 billion.

“As we continue to focus on our multi-housing business and growing our agency lending platform, it was a natural progression for Luke to move into a leadership role within the group,” said Gerard Sansosti, Executive Managing Director and Co-lead of JLL’s Debt and Loan Sale platform. “His knowledge, relationships and affable professionalism make him a valuable teammate for our JLL team as well as our multi-housing clients.”

 

JLL Capital Markets arranged the refinancing for Canopy Place

MIAMI, Sept. 7, 2021 – JLL Capital Markets announced today that it has arranged a $16 million refinancing for Canopy Place, a 150-unit, townhome-style multi-housing community in Jacksonville, Florida. 

JLL worked on behalf of the borrower, Beachwold Residential LLC, to secure the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Canopy Place consists exclusively of three-bedroom townhomes that feature private patios, extra storage, walk-in closets and a full suite of upgraded appliances. The community offers a swimming pool, clubhouse and children’s play area. Beachwold has implemented a renovation project that included exterior painting, interior flooring replacements and roof, air conditioning and foundation repairs. 

Located at 11050 Harts Rd., Canopy Place is near Interstates 95 and 295, providing easy access to the area’s amenities. Additionally, residents have access to public transportation close to the property. Nearby amenities include Regal Cinemas 14, River City Market Place, Highlands Shopping Center, UF Health North, Ray Greene Park and a variety of local and national restaurants and retail.

The JLL Capital Markets debt team that represented the borrower was led by Senior Managing Directors Elliott Throne, Mona Carlton and C.W. Early, Vice President David Lott and Associate Kenny Cutler.

“This financing produced a substantial cash-out at an extremely attractive floating rate, all while allowing for prepayment flexibility,” said Throne. “This loan structure is one of the many benefits of Freddie Mac financing and allowed the borrower to be rewarded for their continued success since acquiring the asset.”

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. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

 

Greystone, a leading national commercial real estate finance company, has provided a $49,575,000 Freddie Mac Optigo® loan for the acquisition of a 484-unit apartment community in Pine Hill, New Jersey. The transaction was originated by Dan Sacks, Managing Director in Greystone’s New York office, on behalf of Goldcrest Management.

The $50 million Freddie Mac loan features an adjustable rate with a 10-year term and 30-year amortization, with the first five years of interest-only payments. Built in 1973, Chalet Gardens is a garden-style complex consisting of one- and two-bedroom units that offer modern finishes and appliances, eat-in kitchens, in-unit washer/dryers and private outdoor living spaces. Residents have access to the community’s fitness center, pool and sundeck, picnic area, playground, and parking. The property is close to the area’s dining, shopping, and recreation options, and is a short drive to Center City Philadelphia and New Jersey beaches.

“We are thrilled to play a role in making this acquisition happen for our client,” said Mr. Sacks. “Greystone’s multifamily financing platform is industry-leading and my team’s execution is centered around the client experience, so each transaction gives us an opportunity help our clients achieve their goals with a seamless process.”

“From the very start, our Greystone team demonstrated a high level of creativity and commitment to getting us the financing we needed to acquire this property – they were the perfect partner,” said Mr. Hillel Hertz, principal of Goldcrest Management. “Greystone’s understanding of the nuances of the local market, and of the particulars of the multifamily space in particular, is unparalleled and we look forward to working with our team again in the future.”

 

 

 

Greystone, a private national commercial real estate finance company, announced today it provided a $54,934,000 permanent Freddie Mac loan to an affiliate of Grubb Properties to refinance a recently constructed and stabilized 344-unit Class A multifamily property in the heart of Innovation Quarter in Winston-Salem, North Carolina.

The new 15-year, fixed-rate loan is a permanent takeout of the construction financing arranged by Greystone in 2018. Drew Fletcher, Paul Fried, and Matthew Hirsch originated both the construction and the permanent financing on behalf of Grubb.

Link Apartments Innovation Quarter is located within the burgeoning Innovation Quarter District that has been a catalyst for the growth and transformation of Downtown Winston-Salem. Just steps away from the Wake Forest University Biotech Campus and Bailey Park, the Property offers efficient luxury with contemporary, bright and meticulously designed units. The property features over 20,000 square feet of amenity spaces, including a roof-top terrace, saltwater pool, club-quality 24/7 fitness center, and chef’s demo kitchen.

“This closing is a perfect example of how Greystone can deliver for its clients through each stage of the entire project lifecycle,” said Mr. Fletcher, President, Greystone Capital Advisors. “We’ve been working with Grubb for years on this project and it’s been really exciting to see them execute on their plans and deliver such a transformative asset to Winston-Salem.”

Mr. Fried, Executive Managing Director, Greystone Capital Advisors, added, “Grubb is a long-time client of Greystone and we’ve enjoyed working with them again as they continue to demonstrate why they are a market leader.”

“Grubb Properties is pleased to have once again worked with Greystone, a valued partner with whom we have a deep relationship,” said James Hochman, Chief Financial Officer of Grubb Properties. “We look forward to the bright future of Link Apartments Innovation Quarter.”

 

Greystone, a leading national commercial real estate finance company, has provided $17,244,000 in Freddie Mac financing for the acquisition of a 222-unit multifamily property in Harrison Charter Township, Michigan. The transaction was originated by Dan Sacks, Managing Director in Greystone’s New York office, on behalf of Lightstone.

The non-recourse $17.2 million Freddie Mac loan carries a fixed rate with a 10-year term and 30-year amortization, with five years of interest-only payments. In addition to the acquisition, loan proceeds will be used for capital expenditures and property renovations.

Originally built in 1968, The Shores of Lake St. Clair is an award-winning, 13-building, garden-style community of renovated studios, one- and two-bedroom units with modern finishes and appliances, private outdoor living spaces and in select units, wood-burning fireplaces. Residents of the pet-friendly community can enjoy the clubhouse, fitness center, swimming pool, sports court and playground, as well as on-site laundry facilities and parking. Located northeast of Detroit in “Boat Town U.S.A.,” the property is close to the area’s parks and outdoor recreation, retailers and entertainment, and offers easy access to Interstate 94.

“At Greystone, we thrive on using our extensive multifamily financing platform to put together the right resources for our clients,” said Mr. Sacks. “Our passion for the multifamily space is second only to our commitment to delivering a seamless and unparalleled client experience on every transaction.”

“This acquisition is part of the strategic expansion of our national multifamily portfolio and it is exciting to be part of this thriving community,” said David Lichtenstein, Chairman and CEO of Lightstone. “We are also pleased to have completed another successful financing with Greystone, whose team has consistently provided us with both efficient and thorough service for many years.”

 

Record volume posted by Fannie Mae and Freddie Mac in 2020

CHICAGO, Feb. 24, 2021 – For the sixth consecutive year, JLL Capital Markets has been recognized as a top producer of affordable housing loans by Fannie Mae and Freddie Mac, the two largest U.S. multifamily housing finance sources.

JLL was ranked as the No. 1 Freddie Mac Affordable Housing Lender and No. 2 Fannie Mae Affordable Housing Lender, based upon 2020 nationwide production volume.  JLL posted record affordable housing loan production of $3.4 billion in debt and equity placement in 2020, more than double 2019 production of $1.7 billion.

“We are truly honored to be recognized as a leader in affordable housing by both Freddie Mac and Fannie Mae,” said C.W. Early, head of JLL’s Affordable Housing Agency Lending Team. “This past year was not without challenges and despite the pandemic we remain committed to the multi-housing affordable market and the clients we serve in that space. We believe strongly that it is imperative to offer creative solutions to help grow, improve and preserve affordable units for the marketplace.” 

“JLL Capital Markets is an industry leader in providing capital and investment advisory services to investors of multifamily housing,” added Brian Ranallo, Senior Managing Director. “Affordable housing specifically has always been a primary focus, and we look forward to growing our partnerships with Freddie Mac and Fannie Mae in delivering mission-driven affordable housing loans.” 

In addition to its work with Fannie Mae and Freddie Mac, JLL also provides financing to the multi-housing market through FHA loan programs, banks, life insurance companies, debt funds and other capital sources.

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. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.  

 

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