JLL Capital Markets and JLL Public Institutions announced that it has executed $139.64 million in financings from the Amazon Housing Equity Fund during the past six months for the development/preservation of 11 affordable housing communities, totaling 1,970 units, located across the Puget Sound region of Washington state.
JLL acted as the credit underwriter for Amazon, who provided long-term, fixed-rate loans for nine separate borrowers. Through the Amazon Housing Equity Fund, Amazon provided low-rate subordinate financing to carry out the acquisition and construction/rehabilitation of the properties and assure that the properties will deliver high-quality housing and 99-year income rent restrictions.
The properties included in the financings are:
The 130-unit Sound Transit Angle Lake in SeaTac, Wash.
The 170-unit Ardea at Totem Lake in Kirkland, Wash.
The 148-unit MLK Family Housing in Seattle
The 108-unit Crossroads Apartments
