Dealmaker: JLL Arranges $47M in Refinancing for St. Louis Property

(The Marlowe complex, courtesy of JLL)

JLL Capital Markets, Chicago, announced a $47 million loan to refinance a multihousing community in St. Louis, Mo.

The Marlowe apartment complex is in the Central West End neighborhood, featuring 205 units.

JLL worked on behalf of the borrower, Keeley Properties, to secure the 4-year, fixed-rate loan through an insurance company. Sound Mark Partners provided preferred equity for the transaction.

The JLL team was led by Senior Managing Director Danny Kaufman, Directors Philip Galligan and Mary Dooley and Associate Rebecca Brielmaier.

“There remains significant depth of interest across all lender categories for multihousing refinances. The new insurance company financing has enabled the sponsorship team to lower their cost of capital at a fixed rate over a four-year term,” Dooley said.