SAN DIEGO, Dec. 5, 2023 - JLL Capital Markets announced today that it has arranged the refinancing for Audubon Estates, a five-star, 700-site manufactured housing community located near Washington, D.C. in Alexandria, Virginia.
JLL worked on behalf of the borrower, Hometown America, to secure a seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo℠ lender.
Built in 1972, the property operates at 100% occupancy with no vacancy for the previous 20 years. Community amenities include a basketball court, bus and train access, picnic areas, playgrounds and a RV and boat storage area.
Situated at 7930 Audubon Ave., the community is five miles from Huntington Metro Station, six miles to historic downtown Alexandria and 14 miles to downtown Washington, D.C.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Zach Koucos, Senior Director Chris Collins and Vice President Bharat Madan.
"This transaction demonstrates the continued liquidity within the capital markets for quality manufactured housing communities and top tier sponsors. We are excited to be apart of this transaction and support Hometown America in securing this financing," said Koucos.
JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation's largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.
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.
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Jones Lang LaSalle Inc. published this content on 05 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 December 2023 16:52:17 UTC.
