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**JLL Arranges $96.8 Million Construction Financing for Prescott Post Apartments in Portsmouth, NH**
JLL Capital Markets has secured $96.8 million in construction financing for Prescott Post, a new 360-unit, Class A multifamily development located in Portsmouth, New Hampshire. The financing was arranged on behalf of developers Eastern Real Estate and The Kane Company.
The JLL team, led by Senior Managing Director Brett Paulsrud, Managing Director Andrew Gray, and Vice President Hugh Doherty, facilitated the construction loan through Truist Bank.
Prescott Post will rise on a 26-acre site and will be a 100% market-rate apartment community. The property is strategically located near the Pease International Tradeport, a major economic hub in the region that is home to more than 250 companies and over 10,500 employees within approximately five million square feet of office, industrial, and R&D space.
Multifamily development in Portsmouth has been limited in recent years despite strong population growth and increased housing demand. Those market conditions create an attractive opportunity for the Prescott Post project to help alleviate the area’s housing supply constraints.
Construction broke ground in October 2025, with first unit deliveries expected by 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.”
Prescott Post aims to meet the growing need for high-quality housing in Portsmouth while leveraging the region’s economic vitality and constrained housing stock.
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