February 25, 2020
JLL Capital Markets arranged financing for the acquisition of The Castle, a 120-unit luxury rental community in Port Chester, NY. The group worked on behalf of Anthos Properties to place the $28 million loan with Fannie Mae.
Built in 2015, The Castle is a transit-oriented apartment asset located in the rapidly transitioning downtown of this Westchester County community. The 120-unit building offers a large amenity base, prominent lobby, ground-floor retail unit and subterranean parking.
Anthos Properties acquired the luxury rental community for $38.6 million from institutional investors advised by J.P. Morgan Asset Management.
JLL’s Kelly Gaines and Sophie Gaylor represented the buyer in obtaining financing.
“The Castle is a Class A asset in a transit-oriented location, such that lenders were able to understand and get comfortable with Anthos’ business plan to maximize the value of the property in order to provide very aggressive terms for the loan,” said Gaines.
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