JLL and HJ Sims have arranged $252.1 million in tax-exempt and taxable bond financing for the development of The Marisol, a planned 214-unit seniors housing community in Huntington Beach. HJ Sims acted as lead book-running manager on the senior bonds and JLL Securities served as co-manager and led the process in securing the investor for the subordinate bonds.

The fixed- and floating-rate financing was structured into Series A senior bonds and subordinate Series B and C bonds and was issued through the California Public Finance Authority. The bonds were divided into three tranches: a Series A $165.7-million tranche, a Series B $74.3-million tranche and a Series C $12.1-million tranche. JLL’s Senior Housing Capital Markets team, as real estate advisor, collaborated on the project.

The Marisol is under construction and will be delivered in 2028.  Located at 2120 Main St. in Huntington Beach, the three-story building will offer residents a full amenity package. 

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GM Development secured $130 million in project financing, enabling the company to begin redevelopment of a historic former Veterans Affairs (VA) hospital campus into a 493-unit Class A mixed-use community in Denver, Colorado.

The financing was arranged by Walker & Dunlop. Chris Rumul, Jason Silva, Cole Parker and Mike Valucci of Walker & Dunlop FHA Finance on behalf of GM Development. The project incorporates historic tax credits as a key component of the capital stack, enabling the adaptive reuse of the long-vacant property.

Located at the northwest corner of East 9th Avenue and Clermont Street, the 8.22-acre former VA hospital campus will be redeveloped into a Class A mixed-use community at 1055 North Clermont Street. The project will deliver 493 rental units. It will also include more than 50,000 square feet of retail and medical office space.

GM paid $41 million for the property in 2022.

McDowell Housing Partners (MHP) closed on financing to build Ekos at Warrington, its first affordable housing community in Pensacola, FL. It’s McDowell Housing Partners’ 17th project to start construction in the state of Florida. The 120-unit project’s estimated costs are $41.9 million.

The community will serve a mix of income levels. The development will provide community services in partnership with a local services coordinator, Opening Doors Northwest Florida.

Ekos at Warrington is financed through a combination of tax-exempt bonds, SAIL/ELI funding from FHFC, and 4% non-competitive Low-Income Housing Tax Credits (LIHTC). CREA serves as the tax credit investor, and R4 Capital is the construction and permanent lender. 

The project team for Ekos at Warrington includes Park & Eleazer Construction as the general contractor, Slocum Platts Architects as the architect of record, and Kim Do as co-developer

Ekos at Warrington is expected to be completed in the third quarter of 2027.

JLL Capital Markets arranged Credit Tenant Lease (CTL) financing for the development of a 200,000-square-foot, purpose-built laboratory and training facility for the Massachusetts State Police in Marlborough, MA. Senior managing director Brett Paulsrud and managing directors Andrew Gray and Michael George worked on behalf of the borrower, Greatland Realty Partners and its investment partners, to place the CTL loan directly into the private placement bond market through the co-book running efforts of JLL Securities, LLC and Mesirow Financial.

Construction of the Crime Laboratory is scheduled to begin imminently, with the opening planned for the first quarter of 2028. The new four-story facility will consolidate the current Maynard and Sudbury crime labs into a single location and is fully leased to the Commonwealth of Massachusetts through a 20-year, NNN lease.

The project is located about 30 miles west of Boston at 100 Martinangelo Drive in Marlborough, near major highways, including Interstates 90, 290 and 495. The 24-acre site was selected for its capacity to support new jobs and additional economic development the facility will bring to both the city and surrounding areas.

BWE has secured a $20 million loan to provide permanent financing for Lake Place, a 110-unit luxury active adult community in Chanhassen, Minnesota, part of the Minneapolis metropolitan area.

Lundat Kassa, vice president in BWE’s Washington, D.C. office, originated the financing through Freddie Mac on behalf of Silver Creek Equity, a MN-based development company. The loan has a 10-year term with a 35-year amortization period and five years of interest-only payments and was secured to close out a high-interest rate floating rate construction loan. Lake Place was built in 2023 and completed lease-up during the loan underwriting.

“When our client approached us about refinancing Lake Place, we worked diligently and swiftly to help them pay off their high-interest loan prior to the loan maturity while maximizing proceeds and reducing the sponsor’s cash outlay by strategically timing rate lock with lease-up completion and concession burnoffs,” said Kassa.

Cannon Commercial obtained $60 million in financing to acquire a 2 million-square-foot industrial portfolio comprising two buildings, one each in Jacksonville, Fla., and Hammond, La. The properties are both fully leased to regional grocery chain Winn-Dixie. JLL secured the 10-year, fixed-rate CMBS loan.

The Jacksonville location is 12 miles from Jacksonville International Airport in the Riverside submarket, while the Hammond site is between New Orleans and Baton Rouge, La. Both assets are considered mission-critical distribution centers for Winn-Dixie, a subsidiary of Southeastern Grocers, which is owned by ALDI.

JLL’s Jeff Sause facilitated the deal along with Joshua Blank. Sause said Winn-Dixie’s long-term occupancy and the assets’ locations in growing Southeast markets made this deal attractive to lenders.

Cannon TTM is an arm of Cannon Commercial, a private real estate investor. The firm recently acquired Wilshire Rodeo Plaza in Beverly Hills, Calif., from Nuveen for $211 million.

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JLL Capital Markets arranged $22.3 million in acquisition financing for industrial outdoor storage (IOS) properties located at 115 St. Nicholas Ave. and 115 Skyline Dr. in South Plainfield, Middlesex County, NJ. Senior managing directors Jon Mikula and Jim Cadranell, associate John Cumming and analyst Christian Badalamenti worked on behalf of Oliver Street Capital to secure the acquisition loan through Byline Bank.

The site includes three buildings totaling approximately 32,000 square feet, equipped with 34 docks and seven drive-ins, catering specifically to industrial tenants’ needs. It also features 8.75 usable acres dedicated to parking and outdoor storage. The property is currently occupied by TransAmerican, a national trucking and storage company.

“The property’s strategic location in South Plainfield, coupled with its robust infrastructure, makes it an ideal asset for any industrial tenant needing proximity to the New York-New Jersey transportation network,” said Cadranell. “This financing deal underscores the strong market fundamentals and high demand for well-placed IOS properties in New Jersey.”

MonticelloAM, a specialized multifamily and seniors housing bridge lending platform, has closed $73.2 million in total bridge and working capital financing for a portfolio of seniors housing and healthcare properties across Ohio.

The $64,700,000 floating-rate senior bridge loan will be used by the sponsorship group, a repeat client of MonticelloAM, to recapitalize the existing debt on the portfolio, consisting of independent living, assisted living, and skilled nursing properties. The $8.5 million working capital facility will be used to cover the day-to-day operational needs of over 700 beds across the portfolio.

“The MonticelloAM bridge platform was built to meet the unique needs of our seniors housing and healthcare clients through our tailored financing solutions. We were pleased to work with a returning sponsorship group to refinance their portfolio, setting them up for future success,” said Joseph Borenstein, head of the MonticelloAM Healthcare Sales Desk.

JLL has arranged $39.98 million in acquisition financing for a portfolio of three senior housing communities totaling 344 units in Eugene and Springfield, Oregon, on behalf of a local operator.

JLL worked on behalf of the borrower to secure the three-year, floating-rate regional bank financing. Proceeds were used to acquire the three properties. The JLL Seniors Housing Capital Markets team representing the borrower was led by Senior Director Alanna Ellis and Associate Alex Sheaffer. “This portfolio represents a tremendous addition to this operator’s portfolio,” said Ellis. “JLL was excited to work alongside our client  to achieve very favorable financing.”

The portfolio consists of Evergreen Senior Living, Timber Pointe and Woodside Senior Living, which together offer 43 independent living, 245 assisted living and 56 memory care units. All of the properties were built between 1996 and 2006 and the properties were fully renovated in 2021.

IPA Capital Markets, a division of Marcus & Millichap, has secured $174 million in joint venture equity and debt financing for the acquisition of 55 Riverwalk Place, a 348-unit multifamily property located in West New York, NJ. Built in 2006, the property is located adjacent to the Hudson River, directly across from Manhattan.

The New York-based IPA Capital Markets team of Marko Kazanjian, Max Herzog, Andrew Cohen and Max Hulsh arranged acquisition financing with Bank of America on behalf of their client, a new joint venture between a New York-based multifamily owner/operator focused on acquiring value-add apartment assets in the Northeast and a global institutional investment manager.

“The acquisition represents a significant value-add opportunity for the sponsor,” said Kazanjian. “In Q4 2024 alone, our team secured approximately $150 million in JV equity partnerships with an additional $100 million in progress. We are excited about the continued momentum as we begin 2025 and look forward to further expanding our business.”