JLL Secures $12.66M Fannie Mae Refinancing for WFLP Mitchell LLC's Maplecroft Village in Cheshire, Connecticut

JLL announced July 10 that it has arranged a $12.66 million refinancing for Maplecroft Village, a 56-unit apartment community located at 64 East Mitchell Ave. in Cheshire, Connecticut. The firm represented the borrower, WFLP Mitchell LLC, in securing the loan through Fannie Mae. The loan will be serviced by JLL Real Estate Capital, LLC.

Deal Details and Property Profile

Maplecroft Village was completed at the end of 2024 and achieved stabilization in fall 2025, currently maintaining 96 percent occupancy. The property comprises five residential buildings offering exclusively two-bedroom, two-bathroom units averaging 1,329 square feet. In-unit features include quartz countertops, a large kitchen island, full-size washer and dryer, walk-in closet, keyless entry, and a private patio or deck. Community amenities include a fitness center, a lounge with a common kitchen and grills, 92 parking spaces, and 16 private garages.

Twenty-five percent of the property's units are restricted to households earning 80 percent of area median income, giving the development a workforce housing component.

JLL Capital Markets' Debt Advisory team representing the borrower was led by Managing Director Henry Schaffer and Director Madeline Joyce.

"Maplecroft Village is a high-quality apartment community in the heart of Cheshire, one of Connecticut's fastest growing towns," said Schaffer. "It addresses a clear need for housing in the submarket and was well positioned to attract highly competitive financing."

Connecticut's Housing Supply Constraints

The transaction comes against the backdrop of a pronounced housing shortage in Connecticut. The state ranks last nationally in the number of active housing listings for every 10,000 households, according to the JLL announcement. Housing construction in Connecticut has declined sharply since the prior decade: from 1998 to 2007, the state permitted between 8,000 and 12,000 new homes annually, but that figure fell to between 3,000 and 6,000 per year from 2008 through 2021. The Cato Institute ranks Connecticut as having the second-most restrictive land-use regulations in the country.

Against that backdrop, Maplecroft Village represents a relatively rare addition of new multifamily inventory in the state. The property's spacious two-bedroom floor plan appeals to diverse tenant demographics, including young professionals, small families, empty nesters, and roommate situations, according to JLL.

Cheshire Submarket and Regional Demand Drivers

Cheshire offers convenient access to major employment centers in New Haven and Hartford via Interstate 691 and Interstate 91. The town is home to major employers including Medtronic, ASSA ABLOY, and ARVINAS, while Yale New Haven Health anchors the regional healthcare sector. The Greater New Haven area is also home to eight colleges and universities, including Yale University.

About the Firms

JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. Services include investment sales and advisory, debt advisory, mergers and acquisitions, loan sales, equity and fund placement, net lease, derivative advisory, and energy and infrastructure advisory. JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operates in more than 80 countries with a global workforce of more than 113,000 as of March 31, 2026.

Sources

JLL Newsroom — Class A Multifamily Development in Connecticut Secures Loan (July 10, 2026)