DALLAS – JLL announced today that it has arranged financing for Archway Equities’ acquisition of six Class B multi-housing assets totaling 1,456 units in multiple states.

JLL worked on behalf of the borrower, Archway Equities LLC, an affiliated entity of Archway Holdings Corp., to secure the Freddie Mac financing, which will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. The portfolio has an average construction date of the mid-1980’s and totals 1.14 million rentable square feet.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Andy Scott and Director Michael Cosby.

MIAMI – JLL announced today it has arranged $17.78 million in acquisition financing for a 144-unit, garden-style, scattered-site apartment portfolio in Boca Raton, Florida.

Working exclusively on behalf of Boca ATC, JLL placed the 10-year, fixed-rate loan with Freddie Mac. The loan, which funded Boca ATC’s acquisition of the portfolio, will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. 

The portfolio’s 144 value-add units are located within five separate communities, which were completed between 1971 and 1987. The 95% occupied portfolio features spacious residences averaging 1,011 square feet. The properties are situated in premier infill locations zoned to some of Boca Raton’s best public schools and proximate to the area’s top employment, retail and entertainment demand drivers.

The JLL Capital Markets team representing the borrower was led by Managing Director Elliott Throne and Director Jesse Wright.

“Freddie Mac stepped up to offer highly accretive financing for a strong sponsor with a great track record despite the nuance of the scattered site aspect of the offering,” Throne said. “Congratulations to Boca ATC for a superb acquisition.”

MORRISTOWN, N.J. – JLL announced today that it has arranged acquisition financing for The Peaks of Nanuet, a 504-unit apartment complex in the suburb of Nanuet, Rockland County, New York.

JLL worked exclusively on behalf of Mill Creek Residential Trust LLC and an institutional equity partner to arrange the 10-year, floating-rate acquisition loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. JLL also brokered the sale of the property to Mill Creek Residential, details of which were released in a separate announcement.

The Peaks of Nanuet consists 504 units across 64 buildings set on 54 acres that comprise a mix of one-, two- and three-bedroom units averaging 1,208 square feet, with approximately 40% of homes also inclusive of lofts. Units feature nine-foot ceilings, intrusion alarms, separate dining rooms, spacious closets, full-sized washers and dryers, and patios or balconies. The transit-oriented property is located at 100 Avalon Gardens Drive less than a mile from the intersection of the Garden State Parkway, Interstate 287 and Palisades Interstate Parkway. Due to its central location, The Peaks of Nanuet is convenient to Manhattan, the New Jersey state line and Westchester County via car and a variety of mass transit options. Community amenities include a fully equipped fitness center and a resident lounge. The property was 95% occupied at closing.

The JLL Capital Markets debt placement team representing the borrower included Senior Managing Director Andy Scott and Directors Matthew Pizzolato and Scott Findlay.

“JLL was excited to be a part of this transaction by advising the borrowers on their acquisition of The Peaks at Nanuet,” Pizzolato said. “We were able to get Freddie Mac to step up and provide excellent terms that will allow the borrower to execute their business plan at the property.”

DENVER – JLL announced today that it has arranged $40.27 million in financing for Palisade Park, a 216-unit, garden-style apartment community in the north Denver suburb of Broomfield, Colorado.

JLL worked exclusively on behalf of Jeffrey Sanders of Boulder, Colorado-based Mountain View Capital, LLC to secure the 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender. Loan proceeds refinanced an existing Freddie Mac loan originated in 2018.

Completed in 2017, Palisade Park is fully stabilized and comprises one-, two- and three-bedroom units ranging from 731 to 1,247 square feet. The property is located at 16815 Huron Street, which allows for easy access to employment centers and recreational destinations in and around Denver and Boulder. The property encompasses 14,500 square feet of indoor and outdoor amenity space featuring a beach-style pool with sundeck and spa; pergola with gas grills and fire pit; 24-hour fitness center; clubhouse with billiards, Wi-Fi lounge, media center and business room; dog wash and dog park; playground; and detached garages.

The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon.

DENVER – JLL announced today that it has arranged financing for Advenir at Legado Ranch, a 360-unit, garden-style apartment complex in the West Texas market of Odessa, Texas.

JLL worked on behalf of the borrower, Advenir, LLC, to secure the seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.

Advenir at Legado Ranch is situated on nearly 17 acres at 4001 De Morada Drive along the southwestern edge of the Llana Estacado of West Texas. Completed in 2018, the gated property consists of 12 buildings with residential units totaling 326,838 rentable square feet or approximately 908 square feet per unit. Unit amenities include fully equipped kitchens with granite countertops, hardwood floors, walk-in closets, in-unit washers and dryers and patios. Community amenities include a swimming pool, cabana, dog park, playground, clubhouse, media center/movie theatre and fitness center. The property was more than 91% occupied at closing.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler, Managing Director Josh Simon and Director Matthew Putterman.

Greystone, a leading commercial real estate lending, investment and advisory company, has provided $15,800,000 in Freddie Mac financing for a new seniors affordable housing property to be built in Covington, Georgia. The transaction was originated by PJ McDevitt of Greystone on behalf of Dominium Holdings, one of the largest affordable housing development and management companies in the country.

The $15.8 million Freddie Mac Tax Exempt Loan (Forward TEL) is part of the Freddie Mac Target Affordable Housing (TAH) Program. The financing includes a 30-month forward period for construction, with Freddie Mac’s permanent take-out carrying an 18-year term with a 35-year amortization period at a low, fixed rate. Construction of the property is scheduled to be completed in 2021.

Located 30 miles southeast of downtown Atlanta in Covington, the Legends of Covington Senior community will offer a mix of one-, two- and three-bedroom apartments – 198 in total – for individuals 55-years of age and older. The property will consist of a single, four story building, and will offer amenities such as a clubhouse, gym and sports court, business center, media room, laundry, elevator, beauty salon, picnic area, storage and onsite parking. The property will be located near the Newton County Senior Center, which is considered to be the one of the most active senior centers in the State of Georgia.

“We are thrilled that we could help our long-time client secure the right financing for this project, with a quick close so that they could break ground as soon as possible,” said Jeff Englund, Senior Managing Director of Greystone’s Atlanta office and head of Greystone’s affordable housing group. “We thank Freddie Mac for their partnership in financing this project, which will fill a gap in affordable housing options for seniors in this community.”

“We knew we could rely on Greystone for this important project – though Newton County has a vibrant 55+ community, affordable housing stock for seniors is always in high demand,” said Paul Sween, principal of Dominium Holdings. “We’re grateful to our Greystone team for working with Freddie Mac to pull the right terms together and we look forward to bringing Legends to life.”