### JLL Secures $55M for Luxury Townhomes in Deerfield
JLL has arranged $45.7 million in construction financing and $9.9 million in mezzanine financing for Park5 Luxury Rental Townhomes, a 144-unit build-to-rent development in Deerfield, Illinois. The project is located at 5 Parkway N.
JLL represented the borrower, VennPoint Real Estate, securing senior construction financing through Bank OZK and mezzanine financing from a blue-chip insurance company. Additionally, JLL Americas Land & Development Services assisted in the sale of the land for $10.2 million on behalf of seller Quadrangle.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Matthew Schoenfeldt and Director Mary Dooley. The land sale was managed by JLL’s Americas Land & Development Services, headed by Managing Director Dan Reynolds, alongside agency leasing Managing Director Chris Cummins.
Park5 will feature two- and three-bedroom townhomes averaging 1,953 square feet, each with a two-car attached garage. Conveniently located just west of I-94 in Deerfield, the development offers easy access to downtown Chicago and O’Hare International Airport.
