Firm arranges loan with JPMorgan to refinance 343,354-square-foot retail power center in Howell, NJ

JLL Capital Markets experts arranged a $46.5 million loan to refinance Greenleaf at Howell, 5313 Route 9 North, a Class Aretail power center in Howell, N.J. The firm worked on behalf Sun Equity Partners LLC to place the loan with JPMorgan Chase & Co.

Aaron Appel, Jonathan Schwartz and Keith Kurland, Vice Chairmen; Brett Rosenberg, Executive Vice President; Adam Schwartz, Managing Director; and Brandon Krupetsky, Analyst, led the group handling the debt assignment.

“Sun Equity Partners has extensive experience in developing and repositioning large retail shopping centers,” said Appel. “The firm has ownership interests in multiple properties across the East Coast including the Greenleaf at Union, Greenleaf at Delran, the Grove at Plymouth and Greenleaf at Cheltenham. Sun Equity currently owns and manages a portfolio exceeding 10 million square feet across the United States, further solidifying its experience and ability to boost in-place occupancy and cash flow at Greenleaf at Howell.”

The property is located at the highly trafficked intersection of Route 9 North and Lanes Mill Road. It is anchored by BJ’s Wholesale Club and LA Fitness. Sun Equity Partners acquired the property in May 2013 and redeveloped the 45.8-acre parcel into a popular shopping center. Sun Equity Partners has built out and leased 200,720 square feet of rentable space in the property.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2018 alone, the firm’s 2,400 Capital Markets specialists completed$179 billion in investment sale and debt and equity transactions globally.

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About Sun Equity Partners

Sun Equity Partners is a privately-held real estate investment and development firm founded in 2010 that specializes in the acquisition, expansion, renovation and operation of office retail, shopping centers and residential properties. Our primary focus is directed toward the acquisition and redevelopment of properties featured in key metropolitan markets or urban housing projects and on other markets ranging from emergent to deluxe. Sun Equity currently owns, (or retains ownership interest in,) and manages a portfolio exceeding 10 million square feet across the United States.

AboutJLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visitjll.com