JLL Capital Markets arranges $77.36 million acquisition financing of Southpoint at Massapequa for Fairfield Properties

Massapequa, NY JLL Capital Markets has arranged $77.36 million in agency financing for the acquisition of Southpoint at Massapequa, a 214-unit multi-housing community.

The JLL Capital Markets Debt Advisory team representing the buyer was led by director Thomas Didio, Jr., associate Gerard Quinn and analyst Salvatore Buzzerio.

JLL represented the borrower, Fairfield Properties, to secure the 15-year, fixed-rate, non-recourse loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.

Offering one-, two- and three-bedroom floorplans, the community features units with an average size of 987 s/f, stainless steel appliances, renovated kitchen and baths, granite countertops, private entry, oversized closets, bay windows, patios and balconies. Community amenities include a pool, sundeck, fitness center, “bark park,” outdoor BBQ area and valet trash collection.

“JLL is grateful to have worked alongside the Fairfield Properties team to secure accretive long-term agency debt to facilitate their purchase of Southpoint at Massapequa, a well-located asset that fits perfectly into their existing institutional quality portfolio across Long Island,” said Didio, Jr.

Positioned on the South Shore of Long Island in Nassau County, the community provides proximity to coastal locations such as Jones Beach and Fire Island in addition to various restaurants, parks, schools, grocery stores and shopping. The property is located off NY-27, offering residents access to all major Long Island highways, as well as Suffolk County and the greater Tri-State area. Southpoint is also less than two miles from the Amityville and Massapequa Park train stations.