JLL Capital Markets said Wednesday that it has arranged $50 million in financing for a 275-unit multifamily community in Westampton in Burlington County.
JLL worked on behalf of the borrower to secure the five-year, fixed-rate loan through a life insurance company. JLL did not disclose the names of the borrower or the insurance company.
The Class A apartment complex is about 20 miles from Center City Philadelphia. Westampton has seen growing interest as a desirable suburban location within commuting distance of Philadelphia. A CBRE report in late April on the multifamily market in the Great Philadelphia area in the first quarter said, “… despite being faced with volatility amidst economic uncertainty, relative to the current stock market, multifamily properties can be viewed as a stable, flight-to-quality safety asset.”
According to apartments.com, as of May 2025, the average apartment rent in Westampton is $2,052 for one bedroom, and $2,453 for two bedrooms. Apartment rent has risen by 0.6% in the past year.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Michael Klein and Director Gerard Quinn.
“The successful arrangement of permanent financing for this project demonstrates the continued strength of the multifamily market in Philadelphia’s suburbs,” said Klein. “This project’s strategic location in Westampton and its mix of luxury units and amenities position it as an attractive investment in today’s market.”
