JLL Secures $53.3M Acquisition Financing For Pompano Beach Apartment Community
JLL Capital Markets’ Debt Advisory team representing the borrower was led by Managing Director Jesse Wright, Associate JJ Hovenden and Analyst Luke Maganas.
JLL Capital Markets’ Debt Advisory team representing the borrower was led by Managing Director Jesse Wright, Associate JJ Hovenden and Analyst Luke Maganas.
Financing for the development includes a $32.2 million tax credit equity from Bank of America; a $9.1 million conventional first mortgage loan from Berkadia/Freddie Mac; a subordinate $6 million Surtax loan from Miami-Dade County; and the balance with developer equity.
The loan was secured as part of a multifamily property purchase by a joint venture between Angelo Gordon and Mast Capital.
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