JLL Capital Markets announced that it has arranged a capitalization for 200 Quannapowitt, a 440-unit, transit-oriented multifamily community to be built in Wakefield, Massachusetts, on Lake Quannapowitt.
JLL worked on behalf of the developer Cabot, Cabot & Forbes, to secure the joint venture equity with Equity Residential (NYSE: EQR). The JLL Capital Markets Advisory team was led by Senior Managing Director Brett Paulsrud, Managing Director Andrew Gray and Director Mike Shepard.
Upon completion, the property will feature one-, two- and three-bedroom floorplans with 18% of the units designated as affordable. 200 Quannapowitt will feature market-leading amenity options, including co-working spaces, an outdoor pool, an expansive fitness center, grilling areas on the lake, a Skydeck clubhouse, commuter rail shuttle and multiple courtyards. Residents will benefit from the natural lake setting with walking and biking trails, as well as sailing and windsurfing opportunities.
“Greater Boston multi-housing fundamentals remain strong and leading institutional investors continue to focus on quality investment opportunities in the space,” said Paulsrud. “The Cabot, Cabot & Forbes team worked tirelessly with the community to prepare a project that incorporates the feedback from a wide array of stakeholders and will offer much needed rental housing to Boston’s suburbs.”
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 sales and 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.
