JLL Capital Markets facilitates equity placement for a portfolio across Arizona, Colorado, and Texas
PHOENIX, (Feb. 21, 2025) – JLL Capital Markets announced today 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 homes across eight properties in three states: Avilla Camelback Ranch, Avilla Centerra Crossing, Avilla Deer Valley, Avilla Lehi Crossing, Avilla Meadows, Avilla Buffalo Run, Avilla Northside and Avilla Heritage. Built between 2018 and 2019, these communities represent high-quality, newly constructed BTR assets in key growth markets.
The most recent recapitalization allows NexMetro to return capital to investors while continuing to build its robust development pipeline. The company has 60 projects across the Sunbelt that are either completed, under construction, or in development.
JLL Capital Market’s Debt Advisory team representing the borrower was led by President Kevin MacKenzie, Senior Managing Directors Michael Joseph and Brad Miner, Managing Directors Matthew Putterman and Chris Shea, Director Caroline Novak, and Senior Analyst Weston Nearon.
JLL Capital Markets is a full-service global capital solutions provider for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers best-in-class solutions for clients, whether they need investment sales and advisory, debt advisory, equity advisory, or recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide and offices in nearly 50 countries.