JLL Capital Markets announced that it has arranged the refinancing for Audubon Estates, a five-star, 700-site manufactured housing community located near Washington, D.C. in Alexandria, Virginia.
JLL worked on behalf of the borrower, Hometown America, to secure a seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo℠ lender.
Built in 1972,Audubon Estates operates at 100% occupancy with no vacancy for the previous 20 years. Community amenities include a basketball court, bus and train access, picnic areas, playgrounds and a RV and boat storage area.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Zach Koucos, Senior Director Chris Collins and Vice President Bharat Madan.
“This transaction demonstrates the continued liquidity within the capital markets for quality manufactured housing communities and top tier sponsors. We are excited to be a part of this transaction and support Hometown America in securing this financing,” said Koucos.
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.
