An investment vehicle sponsored by Willow Bridge Property Company announced that it secured $175 million in facility refinancing for a three-property, 882-unit, class-A multi-housing portfolio.
JLL Capital Markets worked on behalf of the borrower to seed a larger programmatic financing vehicle, allowing for flexibility in future transactions. The fund vehicle of more than $2 billion is being deployed in a variety of core markets around the country through both development and acquisition opportunities. JLL secured the facility with Fannie Mae and closed on the five-year, fixed-rate initial tranche in January. The loan will be serviced by JLL Real Estate Capital, a Fannie Mae DUS lender.
