**JLL Arranges $96.8M Construction Loan for Prescott Post Multifamily Project in Portsmouth**
JLL Capital Markets has secured $96.8 million in construction financing for Prescott Post, a new 360-unit, Class A multifamily development located in Portsmouth, New Hampshire. The financing was arranged on behalf of developers Eastern Real Estate and The Kane Company. The loan was provided by Truist Bank.
Led by JLL’s Senior Managing Director Brett Paulsrud, Managing Director Andrew Gray, and Vice President Hugh Doherty, the financing supports the development of this 100% market-rate rental community situated on a 26-acre site near the Pease International Tradeport. The Tradeport is home to more than 250 companies employing over 10,500 people across approximately five million square feet of office, industrial, and R&D space.
Prescott Post stands to benefit from Portsmouth’s sustained demand and limited new multifamily supply, which has created a competitive housing environment. Construction for the project commenced in October 2025, and the first units are expected to be delivered by December 2026.
“Portsmouth’s exceptional fundamentals—including strong population growth, limited housing supply, and significant barriers to new development—create an ideal environment for this premium multifamily project,” said Paulsrud. “The financing market recognized these compelling dynamics, and we were able to secure highly competitive terms that position the project for success.”
With a strategic location and favorable market conditions, Prescott Post is positioned to meet the growing demand for high-quality rental housing in the greater Portsmouth area.
