JLL Provides $37M Agency Refinancing for Multifamily Portfolio in Gainesville, Florida

by Julia Sanders

GAINESVILLE, FLA. — JLL Capital Markets has secured $37 million for the refinancing of a four-property, 460-unit multifamily portfolio in Gainesville. Elliott Throne, Kenny Cutler and Karim Khaiboullin of JLL worked on behalf of the borrower, American Commercial Realty, to secure the 10-year, fixed-rate Fannie Mae loans. JLL Real Estate Capital LLC, a Fannie Mae DUS lender and a wholly owned indirect subsidiary of Jones Lang LaSalle Inc., will service the loans. The properties include the 141-unit Hammocks by Butler, the 98-unit Hammocks off 6th, the 69-unit Hammocks on 34th and the 152-unit Hammocks on 20th.

American Commercial Realty recently completed renovations on all four properties, including updated amenities and new floors, quartz countertops, stainless steel appliances, modern cabinetry and walk-in closets in the units. Community amenities at the portfolio include swimming pools, outdoor grilling stations and fitness centers.

The four multifamily communities are located close to Interstate 75, the University of Florida and Shands Medical Center. Three of the four properties are near Butler Plaza, a shopping center development with over 150 stores and restaurants.

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