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May 6, 2021
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JLL Capital Markets Arranges $173 Mil in Fannie Mae Loans on 14 Res Properties Across the U.S.


JLL Capital Markets has arranged $172.9 mil in financing for 14 multi-housing properties, totaling 1,334 units, located throughout the U.S., on behalf of multiple southern California-based borrowers. The financings consist of 14 uncrossed, 10- and 12-year, fixed-rate Fannie Mae loans. The loans will be serviced by JLL Real Estate Capital LLC, a Fannie Mae DUS lender.

The loans range from $6.1 mil to $40.1 mil, with five of the 14 loans being acquisition financing to acquire properties located in Boise, Idaho; Pooler, Georgia; and West Los Angeles, San Marcos, Escondido, California. The remaining nine loans were cash out refinances backed by properties located in Bakersfield, Escondido and Sacramento, California; and Portland, Oregon.

All loans were part of Fannie Mae’s Green Financing program, allowing the borrowers to obtain preferential pricing and additional loan proceeds by making investments in energy and water efficient retrofits. They were arranged by JLL’s Keith Rosso and Marc Schillinger. According to Schillinger, they’ve seen a trend of clients cashing out or selling some of their urban infill assets to purchase multi-housing properties in suburban California submarkets and out-of-state where there is greater affordability as residents continue to work-from-home and seek lower cost alternatives to gateway markets.

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