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The-Alden-at-Cedar-Park
AcquisitionsLoansMultifamilyTexas

Newmark Brokers Sale of 349-Unit Apartment Community in Cedar Park, Texas

by Taylor Williams

CEDAR PARK, TEXAS — Newmark has brokered the sale of The Alden at Cedar Park, a 349-unit apartment community located on the northern outskirts of Austin. Built in 2020, the community offers one- and two-bedroom units and amenities such as a pool, clubhouse with a resident lounge and cocktail bar, outdoor entertainment areas with grilling stations and a 24-hour fitness center. Patton Jones and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. Mitch Clarfield and Alec Newman, also with Newmark, originated Fannie Mae acquisition financing on behalf of the buyer, Washington-based Weidner Apartment Homes. The Alden was 95 percent occupied at the time of sale.

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LoansMultifamilyNew JerseyNortheast

Cronheim Mortgage Arranges $33M Loan for Refinancing of Northern New Jersey Apartment Complex

by Taylor Williams

HAWTHORNE, N.J. — Locally based financial intermediary Cronheim Mortgage has arranged a $33 million loan for the refinancing of Hedges at Hawthorne, a 118-unit apartment complex in Northern New Jersey. The property houses 10 studios, 27 one-bedroom units, 76 two-bedroom residences and five three-bedroom apartments, as well as 16,400 square feet of retail space. Amenities include a fitness center, rooftop terrace, lounges, an onsite salon, outdoor grilling areas and a package handling facility. Brandon Szwalbenest, Dev Morris and Andrew Stewart of Cronheim arranged the loan, which carries a fixed interest rate of 5.82 percent, on behalf of the borrower, New Jersey-based investment firm The Bedrin Organization. The direct lender was not disclosed.

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Affordable HousingDevelopmentLoansMichiganMidwestMultifamily

Cinnaire Provides $38M to Preserve Affordable Housing at Countryside Townhouses Near Grand Rapids

by Kristin Harlow

KENTWOOD, MICH. — Cinnaire has provided a $12 million Low-Income Housing Tax Credit equity investment as well as a $23.5 million loan with its partners CPC Mortgage Co. to support the preservation and rehabilitation of Countryside Townhomes, a 146-unit affordable housing community in Kentwood near Grand Rapids. The financing package also included a nearly $3 million equity bridge loan. Countryside Townhomes was originally built in 1971 as a Section 8 property. Today, all of the units are restricted to families earning no more than 60 percent of the area median income, and all but five units are covered by a long-term Housing Assistance Payments contract. The property consists of 24 buildings with 18 one-bedroom, 78 two-bedroom and 50 three-bedroom, two-story townhomes — each with a full basement — serving residents of all ages. The community was in significant need of rehabilitation after more than 50 years in service, according to Cinnaire. Vitus, a developer and owner of affordable housing, was the borrower.

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Dogwood Logistics Center
GeorgiaIndustrialLoansSoutheast

JLL Arranges $44.1M Financing for Dogwood Logistics Center in Conyers, Georgia

by Abby Cox

CONYERS, GA. — JLL Capital Markets has arranged a $44.1 million financing package comprising joint venture equity and debt for the development of Dogwood Logistics Center, a 388,960-square-foot industrial property under development in Conyers, about 24 miles east of downtown Atlanta. Bobby Norwood, Mark Sixour, Hamp Gibbs and Streeter Simmons of JLL secured a $25.4 million construction loan through Pinnacle Financial Partners on behalf of the developer, Holder Properties. Hartford Investment Management Co. (HIMCO) provided $18.7 million in joint venture equity. Scheduled to deliver in summer 2026, Dogwood Logistics Center will feature two shallow-bay, rear-load buildings spanning 205,265 square feet and 187,593 square feet. The facilities will offer 36-foot clear heights, concrete tilt-wall construction, 60-foot dock bay depths, 210- to 230-foot building depths and TPO roofing. Additionally, the property will provide two exits along I-20. Dogwood Logistics Center marks Holder Properties’ second industrial project in 2025 with Pinnacle Financial Partners and HIMCO. 

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AcquisitionsCaliforniaLoansMultifamilyWestern

BWE Secures $43.4M Acquisition Loan for Villa Del Mar Apartments in Los Angeles County

by Amy Works

MARINA DEL RAY, CALIF. — BWE has secured $43.4 million in acquisition financing for Villa Del Mar, a multifamily property in Marina del Ray. Initially constructed in 1872, Villa Del Mar consists of four three-story apartment buildings over at-garage parking, a five-story parking structure and a 209-slip marina. The property offers 198 one- and two-bedroom apartments with hardwood-style flooring, marina-view balconies and in-unit washers/dryers. Community amenities include a clubhouse, fitness center, pool and spa, basketball and tennis courts and barbecue areas. Mike Guterman of BWE arranged the acquisition financing from a life company on behalf of VDM Partners. The loan features a five-year, fixed-rate term with prepayment flexibility and two years of interest-only payments.

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DevelopmentLoansMultifamilyTexas

PGIM Real Estate Provides $24M Mezzanine Loan for North Fort Worth Multifamily Project

by Taylor Williams

FORT WORTH, TEXAS — PGIM Real Estate has provided a $24 million mezzanine loan for a 464-unit multifamily project that will be located in North Fort Worth. The name and address of the project were not disclosed, but the development will consist of two buildings on an 8.5-acre site. Units will be furnished with stainless steel appliances, granite countertops, individual washers and dryers and private patios. Amenities will include a pool, fitness center and a resident clubhouse. Jesse Wright of JLL arranged the loan on behalf of the borrower, Miami-based developer Resia (formerly known as AHS Residential). Bank OZK provided a $58 million senior loan for the project.

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Dunwoody Village
AcquisitionsGeorgiaLoansRetailSoutheast

MMCC Secures $4M Acquisition Financing for Dunwoody Village Retail Center in Metro Atlanta

by Abby Cox

DUNWOODY, GA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4 million in acquisition financing for Dunwoody Village, a 15,382-square-foot retail center located at 1610-1614 Mount Vernon Road in Dunwoody, a suburb of Atlanta. David Johnson of MMCC’s Atlanta office secured the loan with a national bank on behalf of a private client. The five-year loan includes a 6.41 percent interest rate with a 30-year amortization schedule. Shadow-anchored by The Fresh Market and Walgreens, Dunwoody Village features a mix of tenants including CVS Pharmacy, Chipotle Mexican Grill and a pet store.

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IndustrialLoansNew JerseyNortheastOffice

JLL Arranges Refinancing of 114,622 SF Industrial, Office Property in Eatontown, New Jersey

by Taylor Williams

EATONTOWN, N.J. — JLL has arranged the refinancing of West Ridge Corporate Campus, a 114,622-square-foot industrial and office property located in the Northern New Jersey community of Eatontown. The 11.1-acre campus consists of three 12,000-square-foot office buildings and two industrial flex buildings totaling 36,160 and 42,462 square feet. Michael Klein, Ryan Carroll and Tyler Caricato of JLL arranged the seven-year loan through an undisclosed insurance company on behalf of the borrower, Bollerman Cos.

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The-Conley-Leander
LoansMultifamilyTexas

Berkadia Arranges Recapitalization of 259-Unit Apartment Complex in Metro Austin

by Taylor Williams

LEANDER, TEXAS — Berkadia has arranged the recapitalization of The Conley, a 259-unit apartment complex located in the northern Austin suburb of Leander. The recapitalization includes debt from LaSalle Investment Management and a preferred equity investment from an undisclosed, Los Angeles-based capital provider. Built in 2020, The Conley offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, resident lounge with a coffee bar, coworking space and a pet park. Scott Wadler, Matt Nihan, Mitch Sinberg, Brad Williamson and Matt Robbins of Berkadia handled the transaction on behalf of the owners, a joint venture between two Miami-based firms, Beacon Real Estate Group and Constellation Group.

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AcquisitionsLoansMultifamilyNevadaWestern

NewPoint Real Estate Capital Originates $73.4M Freddie Mac Loan for Multifamily Acquisition in North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — NewPoint Real Estate Capital has provided a $73.4 million Freddie Mac loan to finance the purchase of a garden-style multifamily property in North Las Vegas. The five-year, fixed-rate loan includes full-term interest-only payments and a 35-year amortization schedule. John DeWitt of NewPoint originated the loan. The sponsor, a repeat Freddie Mac and NewPoint borrower, purchased the 498-unit asset and plans to implement an extensive improvement plan over the first four years of the loan. Built in two phases in 2007 and 2008, the property offers one-, two- and three-bedroom apartments with in-unit washers/dryers, stainless steel appliances, central air conditioning and private balconies for patios. Community amenities include two swimming pools, a clubhouse and fitness center, playgrounds, a pet area, business center, garage and both covered and open parking.

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