JLL arranges $10.2M loan for British Woods in Knoxville area
British Woods is a 130-unit townhome and garden-style multi-housing community
CHICAGO, May 20, 2020 – JLL Capital Markets announced today that it has arranged a $10.296 million refinancing for British Woods, a 130-unit multi-housing community in Oak Ridge, Tennessee.
JLL worked on behalf of the borrower, MZ Capital Partners, to secure the 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.
British Woods is located at 301 Briarcliff Avenue approximately 20 miles northwest of downtown Knoxville. The recently revitalized property is positioned on a 10-acre site close to West Knoxville, The Oak Ridge National Labs and the Y-12 National Security Complex. British Woods offers one-, two- and three-bedroom layouts in both townhome and garden-style homes. Amenities at the 98%-leased, pet-friendly community include a swimming pool, fitness center, clubhouse, bark park and nearby walking and biking trails.
“The principals of MZ Capital Partners have a proven formula for adding value and enhancing communities,” Schoenfeldt said. “British Woods is a shining, flawlessly-executed example of this strategy.”
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About MZ Capital Partners
MZ Capital Partners is a demographically driven real estate investment firm with a speciality niche in multifamily assets throughout the United States. For more information, please visit: mzcapitalpartners.com.