S hopping C enters F inancial D igest F eaturing T he L enders D irectory www.marej.com M id A tlantic Real Estate Journal — Financial Digest — Section D Westridge Gardens refinanced with agency loan Ade, Leachman & Hess of JLL Capital Markets led financing of Phila. garden-style community

HOENIXVILLE, PA — JLL Capital Markets has arranged refinanc - ing for Westridge Gardens, a 136-unit multi-housing prop- erty in Phoenixville, PA. JLL worked on behalf of the borrower, an affiliate of Rela - tive Properties, LLC, to secure the 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC , a Fred- die Mac Optigo lender. Westridge Gardens is located at 909 Westridge Gardens Lane one mile from Rtes. 23, 724 and 113 in the northwestern sub- HI-LIGHTS NOV. 13 - DEC. 10, 2020 P 14-16D SPOTLIGHTS LENDERS DIRECTORY KENNEDY FUNDING CLOSES $1.96M LAND LOAN FOR TEXAS RODEO AND EVENT CENTER

space. Community amenities include a swimming pool, sport court and playground. The JLL Capital Markets team representing the bor- rower was led by senior man- aging director Ryan Ade , managing director Jamie Leachman and VP Travis Hess . JLL delivers multi-housing investors a full range of solu- tions through one diverse, integrated platform. The divi - sion employs 400 profession - als who provide comprehen - sive investment sales and disposition services with ac - cess to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with compre - hensive loan underwriting, asset management and loan servicing capabilities. MAREJ

Westridge Gardens

urbs of Philadelphia. The 13- acre site is close to downtown Phoenixville offering residents an array of shopping, dining and

entertainment options. Reno - vated in 2017, the 15 two-story residential buildings offer a mix of one-, two- and three-bedroom

units averaging 986 square feet each. Each residence has a pri - vate entrance, in-unit washer and dryers and outdoor patio

M&T Realty Capital Corporation lends $17.1M for Avanath Capital Management’s acquisition

STERLING, VA — M&T Realty Capital Corporation announced that it has closed a

$17,104,500 Fannie Mae Mu l t i f a m - i l y Af f o r d - able Housing loan for the p e rman e n t financing of Cascades Vil - lage —a 150-

Matthew Hodson

unit senior affordable housing property located in Sterling on behalf of Avanath Capital Management. The 10-year, fixed-rate loan is structured with ten years of interest-only payments at an interest rate of 2.58%. The transaction was led by managing director Matthew Hodson of M&T Realty Capi - tal Corporation’s Falls Church, VA. “Given Avanath’s track-re - cord in the affordable housing space and Fannie Mae’s strong desire to finance affordable housing projects, we were able to lock in an extremely low interest rate to further


Also Inside

Cascades Village

and operating high-quality, af- fordable senior housing proper- ties in key markets throughout the country, Cascades Village aligns well with our business strategy.” Cascades Village represents Avanath’s second affordable community acquisition in Ster - ling and its fourth in the state of Virginia. The firm also owns the 102-unit Acclaim at Sterling; and Acclaim at Ashburn, a 174-unit property in Ashburn. MAREJ

center, an outdoor space with walking path, elevator, bil- liards, beauty salon, library, entertainment room, screened- in porch and on-site laundry. “We were pleased to work with M&T Realty Capital Cor - poration to finance the acqui - sition of Cascades Village at such favorable terms,” said Keith Harris, executive VP of acquisitions for Avanath Capital Management. “With Avanath’s expertise in owning

preserve 150 affordable apart - ment units in one of the most expensive metropolitan areas in the country,” said Hodson. Cascades Village offers one- and two- bedroom apartments for adults age 55 and over. Unit amenities include wheelchair accessible rooms, individually controlled air conditioning and heating, emergency pull cord system, high speed internet, and cable ready. Property amenities include a fitness

Appraisal Institute Southern NJ.... IC-1D Michael H. Claisse, Spencer....2-3D Jason Salmon, Kay Properties.. 4-5D Pat Jackson, Sabal Capital Partners. . 6-7D Tom MacManus, Money360. . 6,IBCD Brian Foley, Procida Funding..... 8D Charles “Chaz” H. Kauffman III, C. H. Kauffman & Associates.....9D Brenner Green, RPC.................12D George D Johnson, RCA...........13D


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