JLL Capital Markets secures $215 million refinancing for mixed-use portfolio in Pennsylvania and Maryland

MD & PA JLL Capital Markets has arranged $215 million for the refinancing of a 30-property portfolio totaling 1.67 million s/f of retail and medical and traditional office space.

JLL worked on behalf of the borrower, Paramount Realty, to place the three fixed-rate loans with Investors Bank, A Division of Citizens Bank, N.A.; Oceans First Bank and Provident Bank.

The portfolio comprises nine grocery-anchored retail centers, nine single-tenant retail properties, four neighborhood retail centers and eight medical and traditional office properties.

The JLL Capital Markets team representing the borrower was led by senior director David Sitt, director Stephen Van Leer, director Eliott Zeitoune, vice president Chris Pratt and analyst George Kordahl.

“This was a terrific execution for Paramount Realty and is telling of the financing market’s continued appetite for high-quality retail backed by premier owners,” Sitt said.