JLL: South Jersey multifamily property refinances with $56M HUD loan - NJBIZ

Jessica Perry//April 18, 2022

Jessica Perry//April 18, 2022

Working on behalf of the borrower, JLL Capital Markets arranged a $56 million refinancing with a 223(f) HUD loan for a multi-housing property in Burlington County.

The Capital Markets Debt Advisory Team representing the borrower was led by Matthew Pizzolato, Michael Klein, Kevin Korn and Gerard Quinn. JLL announced the refinancing April 18.

The firm said the loan will be serviced by JLL Real Estate Capital LLC, a HUD approved MAP/Multi-housing and 232/Lean Healthcare Lender.

“As a HUD-approved lender, we were able to provide our client with an extremely attractive, long-term, fixed-rate option for their property,” Pizzolato said in a statement.

The community has 300 units. Further details of its location, nor the borrower, were not disclosed.

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