LOS ANGELES - JLL Capital Markets announced today that it has arranged the $16.333 million construction financing of The Cannery at Railroad Square, a 129-unit affordable housing project located in Santa Rosa, California. This transaction marks the first Freddie Mac non-LIHTC loan completed in conjunction with the state of California’s Housing Accelerator Funds.
JLL worked on behalf of the borrower, The John Stewart Companies and Pacific Housing to secure the 15-year, fixed-rate loan.