JLL Capital Markets announced that it has arranged refinancing in the aggregate amount of $372.6 million for a 10-property, 2,549-unit multihousing portfolio located across Arizona and Texas.
JLL worked on behalf of the borrower, Wealhouse Capital, to secure the floating-rate Fannie Mae loans. The loans will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.
The portfolio consists of Artisan Park Apartments, Sierra Walk, Spring Meadow and Summers Point in Glendale; Carlyle at South Mountain, Carlyle Townhomes and Glenrosa Park in Phoenix; Autumn Creek and Greentree Place in Chandler; and Bar Harbor in Seabrook near Houston. The garden-style properties were constructed between 1979 and 1997 and feature a range of amenities, including resort-style pools, clubhouses, fitness rooms, basketball courts and picnic areas.
The JLL Capital Markets Debt Advisory Team representing the borrower was led by Senior Managing Director Brad Miner and Analyst Elle Miraglia.
“We could not be more pleased by the efforts and guidance we received from Brad, Elle, and the entire JLL team,” said Scott Morrison, Founder and CIO of Wealhouse Capital.
“The proceeds from the refinancing will allow us to continue to invest in new and existing properties in our portfolio and the communities our tenants live in,” said Emily Newman, Executive Vice President of Wealhouse.
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.
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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.