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News release

Miami

JLL secures $72M in refinancing for The Palace at Coral Gables

Fannie Mae provides loan to award-winning seniors housing facility


MIAMI, Aug. 17, 2017  JLL’s Capital Markets experts have secured $72.2 million in refinancing for The Palace at Coral Gables, a seniors housing community in FloridaFannie Mae provided the 10-year fixed rate, cash-out loan that will be used by The Palace Management Group, LLC to refinance a maturing construction loan. 

 

Managing Directors Jessica Wolters and Allison Holland led our team on the financing.  

 

The Palace at Coral Gables is an extraordinary seniors housing community, said WoltersThe Palace’s commitment and hands on approach to service and care is exceptional. We are thrilled to provide a financing solution for such a premier facility and are thankful for our ongoing relationship with the Palace Management Group.  

 

We utilized JLL to assist in structuring components of this deal prior to its construction to maximize lender interest for permanent financing, said Oscar Roiz, Chief Financial Officer at The Palace Management Group. “JLL continues to be a great partner for us. 


The Palace at Coral Gables is a 298,102-square-foot independent and assisted living facility. The community includes 222 units, a pool, a fitness center and a theater. The property is located just 20 minutes from downtown MiamiIn February 2014, The Palace at Coral Gables was recognized as the No. 1 Independent Living Community in the United States by the National Association of Home Builders. 

 

JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. With access to thousands of domestic and foreign investors our team of over 200 professionals provides comprehensive investment sales and dispositions services. JLL is also one of the nation’s largest multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities. 

 

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