JLL arranges $617 million in total capitalization for Grubb Properties

July 20, 2026 - 18:45

JLL's Capital Markets division has closed on a significant financing package totaling $617 million for two real estate investment trusts managed by Grubb Properties, along with a major development project in New York City.

The funding was arranged through the combined efforts of JLL's M&A and Corporate Advisory, Corporate Banking Advisory, and Debt & Equity Advisory teams. The capital was secured for the Link Apartments REIT and the Link Apartments Opportunity Zone REIT, both of which are managed by Grubb Properties.

In addition to the two REITs, the financing package also supports Link Apartments 8 Carlisle, a 64-story luxury multifamily tower currently under development in Manhattan's Financial District. This project is classified as a Class A development and represents a significant addition to the neighborhood's residential inventory.

The deal highlights the continued strength of the multifamily sector despite broader market uncertainty. JLL's ability to coordinate across multiple advisory teams allowed for a comprehensive capital solution that addressed both existing portfolios and new construction. Grubb Properties has been actively expanding its Link Apartments brand, which focuses on providing workforce housing in urban centers. The closing of this financing provides the REITs with the liquidity needed to continue their acquisition and development strategies.