$12.66M refinancing secured for Class A multifamily development in Cheshire, Connecticut 

BOSTON, July 10, 2026 –  JLL Capital Markets announced today that it has arranged a $12.66 million refinancing for Maplecroft Village, a 56-unit apartment community in Cheshire, Connecticut.

JLL represented the borrower, WFLP Mitchell LLC, in securing the loan through Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC.

Maplecroft Village, located at 64 East Mitchell Ave., represents a rare example of new housing supply in Connecticut, which ranks last nationally in the number of active housing listings for every 10,000 households. The property addresses this critical shortage while maintaining a mission-driven approach, with 25 percent of its units restricted to households earning 80 percent of area median income.

The development, completed at the end of 2024, features five residential buildings with exclusively two-bedroom, two-bathroom units averaging 1,329 square feet. Each apartment includes quartz countertops, a large kitchen island, full-size washer and dryer, walk-in closet, keyless entry and private patio or deck. Community amenities include a fitness center, lounge with common kitchen and grills, and 92 parking spaces plus 16 private garages.

Connecticut has seen a dramatic decline in housing construction since 2008. From 1998 to 2007, the state permitted between 8,000 and 12,000 new homes annually, but that number fell to just 3,000 to 6,000 per year from 2008 through 2021. The Cato Institute ranks Connecticut as having the second-most restrictive land-use regulations in the country.

Cheshire offers convenient access to major employment centers in New Haven and Hartford via Interstate 691 and Interstate 91. The town is home to major employers including Medtronic, ASSA ABLOY and ARVINAS, with Yale New Haven Health anchoring the regional healthcare sector. The Greater New Haven area features eight colleges and universities, including Yale University, creating a highly educated workforce.

The property achieved stabilization in fall 2025 and currently maintains 96 percent occupancy. The spacious two-bedroom floor plan appeals to diverse tenant demographics, including young professionals, small families, empty nesters and roommate situations.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Henry Schaffer and Director Madeline Joyce.

"Maplecroft Village is a high-quality apartment community in the heart of Cheshire, one of Connecticut’s fastest growing towns," said Schaffer. "It addresses a clear need for housing in the submarket and was well positioned to attract highly competitive financing."

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 March 31, 2026. 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.