By Joshua Burd
The owner of a garden apartment complex in Ocean County has refinanced the property for more than $47 million, brokers with JLL announced Tuesday.
According to the debt placement team, Fannie Mae provided the 10-year, full-term, interest-only Fannie Mae loan in connection with the undisclosed asset. JLL’s Thomas R. Didio, Thomas E. Didio Jr., Gerard Quinn and Michael Mataras sourced the financing on the borrower’s behalf, noting that JLL Real Estate Capital LLC, a Fannie Mae DUS lender, will service the $47.48 million loan.
“JLL is pleased to secure a long-term, fixed-rate refinance with Fannie Mae on behalf of the borrower in today’s market conditions,” Didio Jr. said. “We continue to see the agencies remain active across a wide array of multifamily assets.”
