J.P. Morgan Asset Management Lands $176M Credit Facility for SFR Portfolio
This financing package serves communities across metro Atlanta.
Institutional investors advised by J.P. Morgan Asset Management have secured a $176 million credit facility for seven single-family rental communities across metro Atlanta. Walker & Dunlop arranged the financing on behalf of the borrower, while Brookfield Asset Management’s Real Estate Credit group provided the funding.
The owner acquired the assets in 2021. That deal was also arranged by Walker & Dunlop.
The portfolio totals 709 homes, encompassing approximately 1.4 million rentable square feet. The unit mix includes three-, four- and five-bedroom floorplans.
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The seven communities are within a 30- to 55-mile radius from Atlanta’s central business district, within the McDonough, Loganville, Cartersville, Hoschton, Dallas and Jefferson suburbs.
Walker & Dunlop New York Capital Markets Senior Managing Directors Jonathan Schwartz, Aaron Appel, Keith Kurland and Adam Schwartz, along with Senior Director Michael Ianno, Director Jackson Irwin and Associate Director Christopher de Raet arranged the financing on behalf of the borrower.
Last month, Institutional investors advised by J.P. Morgan Asset Management together with principals of Georgia Capital and Paran Homes formed Laseter Development Group, a single-family rental development firm focused on the Southeast region.
The new entity already plans to break ground on two communities later this year. Located in Greater Atlanta and Nashville, Tenn., the projects are expected to add about 291 rental homes in total.
