Summary：**Thrilling JLL $617M Financing Fuels Grubb Properties' Ambitious Growth** *Three-phase advisory ef

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**Thrilling JLL $617M Financing Fuels Grubb Properties' Ambitious Growth**
*Three-phase advisory effort led to multi‑tranche financing structure to capitalize this standout development in New York City*
NEW YORK, July 20, 2026 /PRNewswire/ — JLL’s Capital Markets group announced today that its M&A and Corporate Advisory team has closed a $617 million financing package for Grubb Properties’ flagship mixed‑use project in Midtown Manhattan. The deal, structured across senior debt, mezzanine loans and preferred equity, marks one of the largest capital‑raising events for a single‑site development in the city this year.

### Introduction
The financing, finalized after a three‑phase advisory process, provides Grubb Properties with the liquidity needed to break ground on a 1.2‑million‑square‑foot tower that will combine luxury residential units, Class‑A office space and a curated retail podium. JLL’s team acted as exclusive financial advisor, guiding the sponsor through market‑condition analysis, lender outreach and tranche structuring to optimize cost of capital while preserving flexibility for future phases.

### Key Developments
- **Multi‑tranche structure:** The package comprises a $350 million senior secured loan at SOFR + 185 bps, a $150 million mezzanine facility with an equity kicker, and a $117 million preferred equity tranche that includes performance‑based upside participation.
- **Speed to market:** From initial mandate to closing, the transaction was completed in 14 weeks—a timeline JLL attributes to its integrated Capital Markets platform and deep relationships with both bank lenders and private‑credit funds.
- **ESG linkage:** The senior loan incorporates sustainability‑linked pricing