JLL Capital Markets arranged the sale and financing for Jefferson Square, a 50-unit, 100% HAP townhome community located in Northfield, Minnesota.
JLL worked on behalf of the seller, Dominium Management, and procured the buyer, a mission-first investment firm who specializes in affordable and workforce housing. The buyer plans to invest additional capital to refresh the units and common areas in addition to extending the existing affordability restrictions.
The property spans 5.20 acres and includes nine residential buildings, three parking structures and one administrative building. Community amenities include private garages, a community lounge, picnic space and tot lot, media space and stunning landscaping.
Nestled in the picturesque Cannon River valley along the Interstate 35W corridor, Northfield is recognized by its high quality of life and wealth of employment and economic drivers. The city is also home to two prestigious colleges, Carleton College and St. Olaf College, with more than 5,000 students combined.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Director Josh Talberg and Director Joseph Peris. The Debt Advisory team was spearheaded by Senior Managing Director C.W. Early.
