JLL Provides $262M Agency Refinancing of Southeastern Multifamily Portfolio

by Taylor Williams

TAMPA, FLA. — JLL has provided $262 million in Freddie Mac loans for the refinancing of a portfolio of six Southeastern multifamily properties totaling 1,494 units.

Tampa-based Carter Multifamily owns the properties, which are located in Maryland, Virginia and Alabama.

The portfolio comprises all garden-style assets, including:

  • the 326-unit Park at Kingsview Village in Germantown, Md.
  • the 240-unit Stonecreek Club in Germantown, Md.
  • the 336-unit Hunt Club in Gaithersburg, Md.
  • the 220-unit Springwoods at Lake Ridge in Woodbridge, Va.
  • the 180-unit Windsor Park in Woodbridge, Va.
  • the 192-unit Oaks of St. Clair in Moody, Ala.

Melissa Marcolini Quinn and Lee Weaver of JLL originated the debt through Freddie Mac. Each of the loans was features a seven-year term and a floating interest rate.

JLL, which will service the loans, also secured $40 million in new equity as part of the larger recapitalization of the portfolio. The equity partner was not disclosed.

“Despite turbulent debt markets, we were able to facilitate a refinance of the portfolio with favorable senior financing from Freddie Mac, which was attracted to the deal due to the portfolio’s contribution to its mission and the borrower’s strong track record,” says Quinn.

— Taylor Williams

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