KERRVILLE, TEXAS — PNC Bank has provided financing for Heritage Oaks, The Meadows, and Paseo de Paz, three affordable housing properties totaling 224 units in Kerrville, about 65 miles northwest of San Antonio. The financing will be disbursed as part of PNC’s $251 million fund to support new construction, rehabilitation and preservation of 16 affordable housing properties totaling approximately 1,700 units across the country. The owner of the Kerrville properties was not disclosed.
NEW YORK CITY — Walker & Dunlop has arranged a $137.5 million loan for 12 Halsey, 240-unit apartment building in Brooklyn’s Bedford-Stuyvesant neighborhood. Completed last fall, 12 Halsey occupies a full city block and offers studio, one- and two-bedroom units, 30 percent of which are reserved as affordable housing. Amenities include a pool, fitness center, rooftop terraces, coworking space and outdoor grilling and dining stations, and the building also houses 2,400 square feet of ground-floor retail space. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno and Cole Grims of Walker & Dunlop arranged the three-year, floating-rate loan through AllianceBernstein. The owner is a partnership between EJS Group and Hope Street Capital.
GREENWICH, CONN. — The Richman Group, a multifamily owner and operator based in Greenwich, has obtained loans for the refinancing of three luxury apartment communities in Florida totaling approximately $225 million. The deals include a $107 million loan via New York Life Investment Management (NYLIM) for The Marc in Palm Beach Gardens; a $72.5 million loan from NYLIM for Everly in Naples; and a $45.5 million loan from Reinsurance Group of America Inc. for Vista Sur in South Miami. All three loans are underwritten with 10-year terms, fixed interest rates and five years of interest-only payments. Each loan exceeds the amount of their original construction loans, according to The Richman Group.
MONROE, N.C. — Regions Real Estate Capital Markets has originated a $64.3 million Freddie Mac loan for the refinancing of Elevate Rocky River, a 360-unit apartment community in Monroe, about 28 miles southeast of Charlotte. Andrew Buckley was Region’s loan originator on behalf of the borrower, Greensboro, N.C.-based Signature Properties Group. The fixed-rate loan has a 10-year term, 35-year amortization schedule and a six-year period of interest-only payments. Built in 2024, Elevate Rocky River comprises one- and two-bedroom units, as well as a pool, fitness center and a clubhouse with a lounge and business center.
CHICAGO — JLL Capital Markets has secured a $213 million refinancing for 360 North Green, a 500,000-square-foot office tower in Chicago’s Fulton Market. Lucas Borges, Geoff Goldstein, Danny Kaufman, Kelly Gaines, Emma Berner and Ryan Planek of JLL secured the three-year loan through Barings on behalf of the borrower, institutional investors advised by J.P. Morgan Asset Management and Sterling Bay. Designed by Gensler and delivered in 2024, 360 North Green rises 24 stories and features two outdoor terraces per floor, a 4,000-square-foot roof deck, 6,500-square-foot fitness center, outdoor conference space and the Adalina Prime restaurant. The property is currently 76 percent leased and home to tenants such as Boston Consulting Group and Greenberg Traurig.
WESTFIELD, IND. — Northmarq has arranged debt and equity capital totaling $52.1 million for Maple Knoll Apartments, a 300-unit, garden-style community in Westfield. Annamarie Bjorklund and Cody Field of Northmarq arranged the financing on behalf of the borrower, Hudson Investing, through a repeat equity partnership with Torchlight Investment and Freddie Mac. Hudson plans a comprehensive renovation at the property. Built in 2007, Maple Knoll Apartments features 18 three-story buildings situated on nearly 24 acres. The community offers one-, two- and three-bedroom floor plans averaging 1,002 square feet.
BELMONT, CALIF. — Voya Financial has provided a $22 million permanent loan for an undisclosed multifamily community in the Bay Area city of Belmont. Keystone arranged the financing at a fixed interest rate of 5.47 percent. Additional details of the transaction were not released.
SANTA CLARA, CALIF. — Gantry has arranged a $9.6 million permanent loan for the refinancing of a two-building, infill light industrial property in Santa Clara. Tony Kaufmann and Jake Davis of Gantry represented the borrower, a private real estate investor, in the transaction. The 10-year, fixed-rate, nonrecourse loan was secured from one of Gantry’s correspondent insurance company lenders with a 30-year amortization schedule. Gantry will service the loan for the lender. Located at 2290 De La Cruz Blvd., the property features 37,600 square feet spread across two buildings, inclusive of a recently constructed 11,500-square-foot building addition. At the time of financing, the property was fully leased to a national auto collision repair business on a long-term agreement.
SYRACUSE, N.Y. — A joint venture between two New York-based firms, Brooklyn-based BFC Partners and SAA Canopy Group, will undertake the $269 million renovation and expansion of Parkside Commons, a 10-building affordable housing development in Syracuse. The project calls for upgrades to all 200 units that are housed within six buildings at Parkside Commons, as well as the ground-up development of two new buildings that will house 193 units. Information on income restrictions was not disclosed. Completion of the renovations and new buildings are slated for early and late 2028, respectively. To finance the project, the joint venture has received a $116 million construction loan from the Urban Investment Group at Goldman Sachs. In addition, New York State Homes and Community Renewal has issued federal and state Low-Income Housing Tax Credits for the project, which are expected to generate a combined $101.6 million in equity through sale to investors. The financing also includes “assortment of low-interest loans and subsidies.” “Parkside Commons has received the necessary subsidy and financing for the long-awaited redevelopment of the campus, which marks an important milestone for our community and for the residents of Parkside Commons,” says Syracuse Mayor Sharon Owens. “This housing redevelopment investment addresses …
WEST CALDWELL, N.J. — CBRE has arranged a $30.7 million loan for the refinancing of The Vail, a 92-unit apartment building in West Caldwell, about 25 miles outside of New York City. The Vail offers a mix of studio, one- and two-bedroom units, 20 percent of which are reserved as affordable housing, that feature individual washers and dryers in all units and private balconies in select residences. Amenities include a fitness center, community room and coworking spaces. Matthew Pizzolato, Josh Stein, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Lauren Weinstein and Justin Helbling of CBRE arranged the loan through Principal Financial on behalf of the borrower, New Jersey-based developer Accordia.
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