JLL Capital Markets announced that it has secured $24.3 million in acquisition financing for a six-asset affordable housing portfolio, consisting of 354 small efficiency dwelling units (SEDUs) located in infill Seattle, WA. JLL worked on behalf of the borrower, SRM Development, to secure the five-year, fixed-rate senior Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. Additionally, with the imposed affordability restrictions on 100 percent of the units, JLL was able to arrange attractive mezzanine financing from the Amazon Housing Equity Fund. The units of the portfolio are permanently preserved for renters at 50 to 80 percent AMI.
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