News release

$32.75M financing secured for Jacksonville townhome community

JLL Capital Markets arranged the acquisition financing for the 141-unit Crossroads at Town Center in Jacksonville, Florida

March 14, 2024

Jenna Sharp

Capital Markets PR
+1 214 438 6450

MIAMI, March 14, 2024 – JLL Capital Markets announced today that it has closed the $32.75 million “CofO” acquisition financing of Crossroads at Town Center, a 141-unit, build-for-rent townhome community in Jacksonville, Florida.

JLL represented the borrower, 360 Communities (Freehold Capital Management) and PCCP, to secure the loan through Greystar.

360 Communities and PCCP will acquire groups of townhomes as they are completed by a third-party builder. At completion, Crossroads at Town Center will feature 141 three-bedroom townhomes, averaging 1,728 square feet. The homes feature attached garages, covered lanai porches, private fenced-in backyards, quartz countertops, wood-style plank flooring, nine-foot ceiling heights, stainless-steel appliances, built-in washers and dryers and multiple smart home design offerings. Community amenities include a pool, cabana, dog park and playground.

The property is ideally situated within proximity to the St. John Town Center complex, a super-regional lifestyle center in Jacksonville, Florida with over 175 upscale shopping and dining options, offering residents incredible access to the area’s top amenities. Residents will also be next to Deerwood Office Park and within two miles of 7.2 million square feet of office space. In addition, the property is strategically positioned as the only for-rent townhome community in the St Johns Town Center micromarket.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Chris Drew, Managing Director Matthew Putterman, Director Kenny Cutler and Analyst Shane Ciacci.

“Certificate of Occupancy financing facilities like this one are becoming increasingly necessary as top-tier sponsors like 360 Communities are purchasing single-family communities directly from homebuilders,” said Drew. “360 Communities is assembling a tremendous portfolio of single-family rental communities in the Southeast and across the country and has been able to partner with experienced institutional groups like PCCP. We’re excited to see what these two great sponsors are able to accomplish with Crossroads at Town Center.”

JLL’s Capital Markets group 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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About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Freehold Capital Management / 360 Communities

Freehold Capital Management (FCM) is an opportunity-focused investor and developer of real estate throughout the United States. It is headquartered in Boston, MA. Since its founding in 2013, FCM has focused on a broad range of housing, including residential mixed-use and master-planned developments, as well as concentrated rental communities. These ventures extend from FCM’s Freehold Communities® and 360 Communities® brands. Freehold Communities is one of the nation’s largest developers of award-winning, large-scale, mixed-use, and master-planned communities. And 360 Communities is a fast-growing provider of high-quality new homes for lease.

Freehold Capital Management has assets, investments, and offices all over the country, with over 7,000 acres of land, 26,000 units for sale, as well as multifamily units, and over 500,000 square feet of retail and office development. 360 Communities currently has approximately 2000 units of rental and multifamily housing either leased, in lease-up, or under development.


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About PCCP

PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments.  PCCP has $23.1 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 25-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements.  PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $39.7 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures.  PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital.

Learn more about PCCP at

About Greystar

Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates more than $290 billion of real estate in 247 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 857,400 units/beds globally, and has a robust institutional investment management platform comprised of more than $76 billion of assets under management, including over $34 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business.

To learn more, visit