$39.2MM Performing Loan Portfolio
$39.2MM Performing Loan Portfolio
Jones Lang LaSalle (“JLL”) has been retained by the Seller on an exclusive basis to arrange the sale of a $39.2 million performing mezzanine loan portfolio (the “Portfolio”). The Portfolio includes two mezzanine loans (the “Loans”) secured by the ownership interests in entities which hold a 530-unit Mixed-Use property (Multifamily and Hospitality) in Tennessee and a 308-unit Multifamily property in New Jersey (the “Properties”).
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- Property Type
- Mixed UseMultifamily
- Deal Type
- Loan Sale
- Risk Profile
- CoreCore Plus
Both Loans are fixed-rate, interest-only, and carry a WA coupon of 8.82% with a WA seasoning of 41 months. Investors will be able to capture the benefits of strong contractual cash flow with 55 months of WA term remaining.
The offering provides investors the opportunity to acquire a Portfolio of two performing mezzanine loans secured by pledges of equity on two fully stabilized Properties in attractive submarkets. The Seller will consider bids for (i) either Loan individually or (ii) the Portfolio in its entirety.
FINAL BID DATE: Tuesday, June 20, 2023
CLOSING: by end of June