$13.55M acquisition financing secured for Class A multifamily property in Scarborough, Maine

BOSTON, April 22, 2026 –  JLL Capital Markets announced today that it has secured $13.55 million acquisition financing for Carrier Woods, an 84-unit Class A multifamily property in Scarborough, Maine.

JLL worked on behalf of the borrower, Chestnut Realty Management, in arranging the seven-year, fixed-rate loan through Fannie Mae. The loan will be serviced by JLL Real Estate Capital, LLC.

Carrier Woods Apartments, located in Scarborough, sits just six miles south of Portland, Maine's largest employment hub. The property offers strategic access to Interstate 295, Interstate 95 and Route 1, providing ease of connectivity throughout Maine and to neighboring states. The immediate area features abundant retail, dining and entertainment options, including The Maine Mall and Scarborough Gallery, the state's most-visited community shopping center.

Carrier Woods Apartments, built in 2018, comprises seven three-story residential buildings featuring 80 market-rate and four affordable units. The modern apartment community offers a mix of one- and two-bedroom floor plans with contemporary finishes, stainless steel appliances and vinyl flooring. Residents enjoy amenities including on-site parking, garden plots, an enclosed dog park and rentable storage units.

JLL Capital Markets’ Debt Advisory team was led by Managing Director Henry Schaffer, Director Mike Shepard, Director Madeline Joyce and Associate Hunter Cuthbertson.

"Scarborough is one of the fastest growing submarkets in Maine, and will continue to show sustained tenant demand given current housing shortages in the region,” said Schaffer. "Carrier Woods Apartments represents a compelling long-term investment strategy for Chestnut, which is continuing to expand its multifamily presence in the Greater Portland market.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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 WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Chestnut Realty Management LLC is a Boston-based real estate investment firm focused on acquiring and operating long-term, stable, cash-flowing assets. The firm invests across industrial, retail and multifamily properties throughout New England and select East Coast markets, with a hands-on ownership approach and a focus on consistent income generation.