JLL Capital Markets announced that it has arranged a $10.296 million refinancing for British Woods, a 130-unit multihousing community in Oak Ridge, Tennessee.
JLL worked on behalf of the borrower, MZ Capital Partners, 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.
British Woods is located at 301 Briarcliff Avenue approximately 20 miles northwest of downtown Knoxville. The recently revitalized property is positioned on a 10-acre site close to West Knoxville, The Oak Ridge National Labs and the Y-12 National Security Complex. British Woods offers one-, two- and three-bedroom layouts in both townhome and garden-style homes. Amenities at the 98 percent-leased, pet-friendly community include a swimming pool, fitness center, clubhouse, bark park and nearby walking and biking trails.
The JLL Capital Markets team representing the borrower was led by Managing Director Matthew Schoenfeldt.
“The principals of MZ Capital Partners have a proven formula for adding value and enhancing communities,” Schoenfeldt said. “British Woods is a shining, flawlessly-executed example of this strategy.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.