JLL worked on behalf of the borrower, Brick Lane LLC, to assume the existing 10-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender. In addition, JLL secured equity financing from National Property REIT Corporation (NPRC) for Brick Lane. This marks the third deal completed between Brick Lane and NPRC.
“Valora at Homewood is a continuation of the partnership between Brick Lane and NPRC with their third acquisition together,” said Leachman. “Additionally, this will serve as an anchor property as Brick Lane enters the Birmingham market as well as taking them to over 3,500 units under ownership.”
