JLL Capital Markets completed the $62.5-million refinancing of Carlow Wind Watch, a newly constructed luxury multifamily property in Hauppauge, New York.
A JLL Capital Markets team led by senior managing director Aaron Niedermayer and senior director Robert Tonnessen worked on behalf of the borrower, Southern Land Company, a Nashville-based developer with a national footprint, to secure the financing from affiliates of Apollo.
“The lending market recognized that Southern Land Company is best-in-class and that with Carlow Wind Watch, they have brought a new level of luxury living to Suffolk County,” said Niedermayer. “We received a tremendous amount of lender interest and are pleased to have had another successful execution with the Apollo team.”
Suffolk County is a located in the U.S. state of New York. The County occupies the easternmost portion of Long Island, in the southeastern portion of New York State. Hauppauge is a hamlet and census-designated place in the towns of Islip and Smithtown in western Suffolk County, New York, on Long Island. Despite the official seat of Suffolk County being Riverhead, situated further east, many of the county’s government offices are located in Hauppauge.
Completed in the fourth quarter of 2024, Carlow Wind Watch features two buildings—five- and seven-story, respectively— with a total of 150 market-rate apartments.
Carlow Wind Watch offers thoughtfully-designed residences, dynamic amenities, and natural connections. Featuring one, two and three-bedroom luxury apartments.
JLL capital markets combines real estate and financial advisory services with the unique knowledge of our people and powerful technology to drive better investment outcomes. Optimize return on investment by streamlining processes, managing budgets and prioritizing expenditures across your real estate portfolio. JLL’s data-driven approach gives you the power to allocate capital with confidence.
Nationally notable and consistently successful, Southern Land Company is a privately held, full-service real estate development company reimagining the industry since 1986.