Dealmaker: JLL Secures $39M for Savannah Townhomes

(Illustration courtesy of JLL)

JLL Capital Markets arranged $38.7 million in financing for Clear Lake Reserve Townhomes, a 199-unit for-rent townhome community in Pooler, Ga.

JLL represented borrower 360 Communities, an affiliate of Freehold Capital Management, and Rockpoint, a Boston-based real estate private equity firm, to secure a floating-rate, three-year loan through Western Alliance Bank.

Located just outside Savannah, Clear Lake Reserve Townhomes spans nearly 50 acres and will include 199 three- and four-bedroom units ranging from 1,385 to 2,010 square feet. The community includes 86 three-bedroom and 113 four-bedroom townhomes, each with an attached two-car garage, private driveway and covered outdoor porch.

The property’s location gives residents five-minute access to Interstates 95 and 16. Clear Lake Reserve Townhomes is also an 18-minute drive to historic downtown Savannah, nine minutes to Savannah Hilton Head International Airport, 25 minutes to the Port of Savannah and 40 minutes to the beaches of Tybee Island.

Additionally, the property’s location positions residents within five minutes of Pooler’s primary retail corridor along Pooler Parkway, encompassing more than 2.7 million square feet of office and retail space including Tanger Outlets, Walmart, The Home Depot and Sam’s Club.

JLL Capital Markets’ Debt Advisory team was led by Senior Managing Director Chris Drew, Managing Director Matthew Putterman and Director Kenny Cutler.