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DevelopmentGeorgiaHospitalityLoansSoutheast

Walker & Dunlop Arranges $104.5M Construction Loan for Ritz-Carlton Savannah Hotel

by John Nelson

SAVANNAH, GA. — Walker & Dunlop has arranged a $104.5 million construction loan for Ritz-Carlton Savannah, a 168-room luxury hotel located at 2 E. Bryan St. in Savannah. The hotel is a redevelopment of two obsolete office buildings built in 1911 in Savannah’s Historic District. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Ari Hirt, Sean Reimer and Jason Schwartzberg of Walker & Dunlop arranged the loan through The LCP Group LP on behalf of the borrower, TMGOC Ventures. Jay Morrow and Carter Gradwell of the Walker & Dunlop Hospitality Advisory team assisted and advised the borrower, which is utilizing federal and state historic rehabilitation tax credit programs to help fund the redevelopment. At completion, the Ritz-Carlton Savannah will feature multiple food-and-beverage options on the lower level, ground floor, second floor and rooftop.

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70-Westchester-White-Plains
DevelopmentLoansMultifamilyNew YorkNortheast

ACRES Capital Provides $96M Construction Loan for White Plains Multifamily Project

by Taylor Williams

WHITE PLAINS, N.Y. — ACRES Capital Corp. has provided a $96 million construction loan for 70 Westchester, a new multifamily project in White Plains, located north of New York City. The number of units and floor plans was not disclosed, but residences will be furnished with quartz countertops and “high-quality” kitchen and bathroom finishes. Amenities will include a pool, private dining room, coworking lounge, rooftop terrace, fitness center and an esports lounge. Completion is slated for fall 2027. The developer was also not disclosed.

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CaliforniaHospitalityLoansWestern

Sonnenblick-Eichner Co. Arranges $26M Refinancing for Residence Inn Hotel in Walnut Creek, California

by Amy Works

WALNUT CREEK, CALIF. — Sonnenblick-Eichner Co. has arranged a $26 million first mortgage loan to refinance the Residence Inn by Marriott Walnut Creek. Funded by a Wall Street investment bank, the nonrecourse fixed-rate, five-year loan features interest-only payments for the full term. Located in Walnut Creek, the six-story extended-stay hotel features 160 guest rooms and 870 square feet of meeting space, an indoor pool, fitness center, outdoor patio, barbecue area and subterranean parking for 144 cars. The property is located less than one-half mile from the Walnut Creek BART station, which provides access to downtown San Francisco and the surrounding Bay Area.

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LoansMultifamilyNew MexicoWestern

Gantry Secures $10M Refinancing for Sunchase Apartments in Albuquerque

by Amy Works

ALBUQUERQUE, N.M. — Gantry has secured a $10 milion permanent loan to refinance Sunchase, a multifamily property located at 3901 Montgomery Blvd. NE in northeast Albuquerque’s Reindeer neighborhood. Situated on 10.2 acres, the community consists of 15 garden-style residential buildings offering a total of 240 one- and two-bedroom apartments. Community amenities include a swimming pool with spa, clubhouse, business center, playground, covered parking and gated access. Blake Hering and Kristin Lapinskas of Gantry represented the borrower, a private real estate investor group, in the financing. The seven-year, fixed-rate loan was secured from one of Gantry’s correspondent life companies and features full-term interest-only payments. Gantry will service the loan for the lender.

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LoansMichiganMidwestMultifamily

Berkadia Arranges Fannie Mae Loan for 96-Unit Meadowood Townhomes in Grand Rapids

by Kristin Harlow

GRAND RAPIDS, MICH. — Berkadia has arranged financing for Meadowood Townhomes, a 96-unit, newly constructed multifamily property in Grand Rapids. Aaron Moll, Dominick Ens and Kevin Nimmo of Berkadia secured the loan through Fannie Mae. The borrower is the developer of the property, Grand Rapids-based Wheeler Development Group, which owns and operates the asset under its affiliated property management company, PURE Real Estate Management. The 10-year loan featured a 5.32 percent interest rate with seven years of interest-only payments followed by a 30-year amortization. Meadowood Townhomes was built in 2025.

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Life SciencesLoansNortheastPennsylvania

Brandywine Receives $87.3M in C-PACE Financing for Philadelphia Life Sciences Facility

by Taylor Williams

PHILADELPHIA — Brandywine Realty Trust has received $87.3 million in C-PACE financing for 3151 Market Street, a 494,530-square-foot life sciences facility located within the developer’s Schuylkill Yards mixed-use destination in Philadelphia. The newly completed facility also includes traditional office space in addition to lab facilities and various tenant amenities. Nuveen Green Capital provided the financing, and the deal team says that the amount represents the largest C-PACE loan closing in Pennsylvania’s history. The Philadelphia Energy Authority will administer the financing.

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Resia-Rayzor-Ranch-Denton
LoansMultifamilyTexas

JLL Arranges Acquisition Financing for 322-Unit Apartment Community in Denton

by Taylor Williams

DENTON, TEXAS — JLL has arranged acquisition financing for Resia Rayzor Ranch, a 322-unit apartment community located in the North Texas city of Denton. Completed in 2024 and located within a master-planned community of the same name, Resia Rayzor Ranch consists of two buildings on a 3.1-acre site. Units come in one-, two- and three-bedroom floor plans and have an average size of 792 square feet. Amenities include a pool, fitness center, pickleball and basketball courts, outdoor grilling and dining stations, coworking space and package lockers. Jesse Wright, Philip Galligan and Lauren Dow of JLL arranged the loan through private equity firm ACRE on behalf of the borrower, Miami-based owner-operator Resia.

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Building-F-Bunker-Hill-Housing-Charlestown
Affordable HousingDevelopmentLoansMassachusettsMultifamilyNortheast

Partnership Receives $172M in Financing for Mixed-Income Housing Redevelopment in Metro Boston

by Taylor Williams

CHARLESTOWN, MASS. — A partnership between Leggat McCall Properties, Joseph J. Corcoran Co. and the Boston Housing Authority has received $172 million in financing for a mixed-income housing redevelopment in Charlestown, located north of Boston. The financing consists of a $122 million construction loan from Los Angeles-based Cottonwood Group and a $50 million equity investment from the City of Boston’s Housing Accelerator Fund. The partnership will use the proceeds to fund the redevelopment of the 266-unit Building F of the Bunker Hill Housing Redevelopment, which rises nine stories and comprises 208 market-rate units and 58 affordable housing units. The project is part of a larger initiative that aims to redevelop the entire Bunker Hill public housing community over the next decade, creating a total of 2,699 units of housing through both repositioning of existing affordable housing units and the addition of market-rate homes. 

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LoansNew JerseyNortheastRetail

JLL Arranges $20.5M Loan for Refinancing of Coastal New Jersey Shopping Center

by Taylor Williams

STAFFORD TOWNSHIP, N.J. — JLL has arranged a $20.5 million loan for the refinancing of Stafford Park, a 140,893-square-foot shopping center in Stafford Township, located I coastal New Jersey. Developed in 2007, the open-air center was fully leased at the time of sale to tenants such as Dick’s Sporting Goods, Best Buy, PetSmart and Ulta. Jim Cadranell, Ryan Carroll and Christian Badalamenti of JLL arranged the five-year, fixed-rate loan through an undisclosed investment manager on behalf of the borrower, regional owner-operator Walters Group.

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hotel-indigo-huntsville
AlabamaHospitalityLoansSoutheast

Forman Capital Provides $20.5M Loan for Hotel Indigo in Huntsville

by Abby Cox

HUNTSVILLE, ALA. — Forman Capital has provided a $20.5 million bridge loan for Hotel Indigo, a newly built, 112-room boutique hotel located within Huntsville’s MidCity District. Ben Jacobson, Scott Mehlman, Ty Regnier and Cameron Fleury of Forman Capital secured the loan on behalf of the borrower and developer, ViaNova Development. The loan paid off the construction financing for the five-story hotel. The pet-friendly property, which is expected to open over the next few weeks, will feature meeting space, an onsite restaurant and a fitness center.

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