JLL Arranges $97M Financing for Portsmouth Multifamily
JLL Capital Markets arranged $96.8 million in construction financing for Prescott Post, a 360-unit Class A multifamily development in Portsmouth, NH. Senior managing director Brett Paulsrud, managing director Andrew Gray and VP Hugh Doherty represented Eastern Real Estate and The Kane Company in securing a construction loan through Truist Bank.
Set on 26 acres, the 100% market-rate project is proximate to Pease International Tradeport, which houses 250-plus companies employing more than 10,500 people across five million square feet of office, industrial and R&D space.
Despite strong demand, Portsmouth has seen limited new multifamily development, positioning Prescott Post to capitalize on severe supply constraints. Construction began in October 2025, with first unit delivery anticipated for December 2026.
“Portsmouth’s exceptional fundamentals including strong population growth, limited supply and high barriers to entry create an ideal environment for this premium multifamily development,” said Paulsrud. “The financing market recognized these compelling dynamics, and we were able to secure highly competitive terms that position the project for success.”
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout