NexMetro Communities completes $333 Million recapitalization of eight-asset build-to-rent portfolio across three states
United States, Feb. 20 -- JLL Capital Markets announced that it has arranged a recapitalization of eight NexMetro assets with Stockbridge investing $65.9 million of preferred equity along existing assumable agency financing of $206 million.This completes the second closing over 45 days on a 12-asset portfolio transaction across Arizona, Colorado and Texas. The previously announced pool included $78.7 million in equity (via Artemis) and $160 million of senior debt (via Blackstone) across four build-to-rent assets in Arizona and Colorado.The combined portfolio was valued at $620 million, with $145 million of equity committed and $366 million of senior debt.The NexMetro eight-asset portfolio consists of 1,061 mostly detached, single-level BTR ...
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