JLL arranges $56M HUD loan for multihousing property in Burlington County

Suburban Philadelphia multi-housing property refinanced

JLL Capital Markets on Monday said it arranged $56 million in refinancing with a 223(f) HUD loan for a multihousing property with approximately 300 units in the suburban Philadelphia-area community of Burlington County.

JLL worked on behalf of the borrower to originate the FHA loan utilizing the 223(f) mortgage insurance program. The loan will be serviced by JLL Real Estate Capital LLC, a HUD-approved MAP/Multi-housing and 232/Lean Healthcare Lender.

A JLL Capital Markets Debt Advisory Team representing the borrower was led by Matthew Pizzolato, Michael Klein, Kevin Korn and Gerard Quinn.

“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.