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MarketScreener Homepage  >  Equities  >  Nyse  >  Jones Lang LaSalle Incorporated    JLL

JONES LANG LASALLE INCORPORATED

(JLL)
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Jones Lang LaSalle Incorporated : Over $118M in CA manufactured home financings closed by JLL

10/26/2020 | 10:20am EST

SAN DIEGO, October 22, 2020 - JLL Capital Markets announced today that it has arranged more than $118 million in financing in separate transactions for seven manufactured home communities totaling 1,038 home sites in Southern California.

JLL worked on behalf of various operators to secure fixed-rate financing through various lenders, including Fannie Mae, Freddie Mac, life insurance companies and a regional credit union.

Additional property and loan details are below:

  • Pacific Sunset and Western Skies, Anaheim - $24.4 million total, long-term, non-recourse life insurance company loans
  • Tumbling Waters, Covina - $9.96 million, 30-year, fully amortizing Fannie Mae loan
  • Confidential Inland Empire all-age community - $57.2 million, 2.35% fixed-rate, 10-year, full term interest-only Fannie Mae loan
  • Beachwood Park, Dana Point - $13.5 million, 10-year fixed-rate at 2.4%, Fannie Mae, five years interest-only
  • Stardust MHC, Ventura - $7.24 million, 2.74% fixed-rate, 10-year, non-recourse Freddie Mac loan
  • El Capitan MHC, El Cajon - $6.38 million, seven-year regional credit union financing, three years interest-only

The JLL Capital Markets team representing the various borrowers on all seven transactions was led by Managing Director Zach Koucos.

'We continue to see lender and borrower appetite for the manufactured housing space increase as the sector has seen strong occupancy growth and rent growth stability,' Koucos said. 'Our recently released Manufactured Housing Trends Report addresses this trend and examines the industry's resiliency through the pandemic with notably positive trends when compared to other asset classes within commercial real estate.'

[3:47 PM] Murphy, Kristen

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access 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 comprehensive loan underwriting, asset management and loan servicing capabilities. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Disclaimer

Jones Lang LaSalle Inc. published this content on 22 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2020 15:19:05 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 8 674 M - -
Net income 2020 353 M - -
Net Debt 2020 483 M - -
P/E ratio 2020 20,2x
Yield 2020 0,11%
Capitalization 6 937 M 6 937 M -
EV / Sales 2020 0,86x
EV / Sales 2021 0,76x
Nbr of Employees 93 400
Free-Float 98,6%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 149,17 $
Last Close Price 135,21 $
Spread / Highest target 29,4%
Spread / Average Target 10,3%
Spread / Lowest Target -2,37%
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Managers
NameTitle
Christian Ulbrich President, Chief Executive Officer & Director
Siddharth N. Mehta Chairman
Karen Brennan Chief Financial & Investment Officer
Allan Frazier Global Chief Information Officer
Sheila A. Penrose Independent Director
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