Record 2.29% loan rate secured for multi-housing portfolio in Los Angeles
JLL Capital Markets represented the borrower to secure the loan with Fannie Mae
LOS ANGELES, September 21, 2020 – JLL Capital Markets announced today that it funded $56.73 million for a four-multi-housing-property portfolio, ranging from 16 to 69 units and loan amounts ranging from $5.845 to $24.05 million, in Los Angeles County, California.
JLL worked on behalf of the Los Angeles-based private borrower to originate the 10-year, 2.29% fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. The deal closed in less than a month.
The JLL Capital Markets team representing the borrower was led by Managing Director Marc Schillinger and Associates Keith Rosso and Eric Boucher.
“We are extremely happy when we have the opportunity to help our clients land great rates,” comments Schillinger. “Record rates in record timing is the name of the game these days, and we’d also like to thank our partners at Fannie Mae for a successful transaction.”
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 in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.