JLL Capital Markets arranged the acquisition financing for the over 10,000-pad manufactured housing portfolio located across the U.S.
News release
13 November 2023
$300+ million in financing secured for over 40 manufactured housing communities
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DENVER, Nov. 13, 2023 – JLL Capital Markets announced today that it has arranged over $300 million in acquisition financing for a 10,000+ pad portfolio of manufactured housing communities.
JLL worked on behalf of the borrower to secure the loans.
The portfolio consists of over 40 assets located across six different states with an average occupancy rate just under 90% and a mix of MH, RV and apartment/single-family home sites.
The JLL Capital Markets Debt Advisory team was led by President Jody Thornton, Managing Director Tony Nargi, Senior Managing Director Zach Koucos, Senior Director Chris Collins and Analysts Jacob Martin and Jack Wood.
“This is a generational opportunity for our best-in-class sponsor, and we cannot wait to watch them unlock the tremendous upside in this portfolio through their unmatched operational expertise. JLL is thrilled to be involved in providing best-in-market terms and flexibility for this large portfolio financing,” said Nargi.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. 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 WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.