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Loans

Orange-Plaza-Middletown-New-York
LoansNew YorkNortheastRetail

Cronheim Arranges $75M in Financing for Retail Power Center in Middletown, New York

by Taylor Williams

MIDDLETOWN, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged $75 million in financing for Orange Plaza, an 811,272-square-foot retail power center in Middletown, about 75 miles northwest of New York City. Walmart, Home Depot, Kohl’s and Burlington are the anchor tenants at Orange Plaza, and Ross Dress for Less, Marshalls, Staples and Old Navy are the junior anchors. Brandon Szwalbenest, Andrew Stewart and Dev Morris of Cronheim arranged the financing through an undisclosed insurance company on behalf of the owner, National Realty & Development Corp.

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LoansMultifamilyNew YorkNortheast

Greystone Provides $16M Agency Loan for Refinancing of Long Island Multifamily Property

by Taylor Williams

CENTRAL ISLIP, N.Y. — Greystone has provided a $16 million Fannie Mae DUS (Delegated & Underwriting Servicing) loan for the refinancing of Coventry Village, a 94-unit multifamily property in the Long Island community of Central Islip. Built in 1975 and renovated in 2011, Coventry Village is a two-building, garden-style complex that offers one- and two-bedroom units. Robert Meehan of Greystone originated the five-year, nonrecourse loan, which carries a fixed interest rate, on behalf of the undisclosed owner.

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Extra-Space-Storage-Goleta-CA
CaliforniaIndustrialLoansSelf-StorageWestern

Talonvest Capital Arranges $45M Refinancing for Self-Storage Facility in Goleta, California

by Amy Works

GOLETA, CALIF. — Talonvest Capital has arranged a $45 million senior bridge loan to refinance a self-storage property owned by 1784 Holdings, a national self-storage owner and developer. Located in Goleta, the property comprises 95,523 net rentable square feet across 972 climate-controlled self-storage units. Extra Space Storage manages the asset. Tom Sherlock, Kim Bishop, Nathan Lefevre and Mason Brusseau of Talonvest arranged the financing, which features a bridge loan with a three-year initial term and two one-year extension options.

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FloridaLoansOfficeSoutheast

JLL Arranges $55.7M Loan for Portion of Midtown East Office Tower in Tampa

by John Nelson

TAMPA, FLA. — JLL has arranged a $55.7 million loan for 143,354 square feet of office and retail space within Midtown East, an 18-story office tower in Tampa. The property was delivered in April 2025 and represents the third and final office tower within Midtown Tampa District, a 22-acre mixed-use campus that also features a Whole Foods Market, REI, Shake Shack, 700 apartments and an Aloft/Element hotel. Ed Coco, Evan Pariser, Lee Weaver and Matt Casey of JLL arranged the loan through Valley Bank on behalf of the borrower, a 50/50 joint venture between Highwoods Properties and The Bromley Cos. The office floors owned by the borrower at Midtown East were fully leased at the time of financing to tenants in the professional services, technology, staffing, real estate and insurance sectors. The financing also covered the ground-floor retail space that is ideally suited for a future restaurant. Tampa Electric Company, a subsidiary of TECO Energy, owns 11 floors of the building that were not included in the refinancing.

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DevelopmentLoansMidwestMultifamilyWisconsin

MMCC Arranges $16.5M in Construction Financing for Green Bay Multifamily Project

by Kristin Harlow

GREEN BAY, WIS. — Marcus & Millichap Capital Corp. (MMCC) has arranged $16.5 million in construction financing for Common Place Phase II, a 91-unit multifamily property with a first-floor retail unit located within walking distance of Lambeau Stadium at 670 Mike McCarthy Way in Green Bay. Robert Bhat of MMCC secured the financing through a local bank. The loan features an 80 percent loan-to-cost ratio, five-year term and 6.25 percent interest rate. Construction commenced in June. Plans call for a mix of studios, one-bedroom units and two-bedroom units designed to complement the adjacent Phase I development.

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Affordable HousingLoansMassachusettsMultifamilyNortheast

MassHousing Provides $26.4M in Financing for Boston Affordable Housing Property

by Taylor Williams

BOSTON — MassHousing has provided $26.4 million in financing for Beacon House, a 135-unit affordable housing property in Boston’s Beacon Hill neighborhood. The eight-story building was converted from a hotel to residential use in 1983. Of the 135 units, 117 are rentals that are subject to a range of income restrictions, and 18 units are rented through a commercial lease to nearby Massachusetts General Hospital for use by patients and their family members. The borrower, nonprofit organization Rogerson Communities, will use the proceeds to refinance existing debt, fund capital improvements and preserve the property’s affordability status.

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DevelopmentIllinoisLoansMidwestMultifamily

Associated Bank Provides $28.3M Loan for Development of Chicago Apartment Building

by Kristin Harlow

CHICAGO — Associated Bank has provided a $28.3 million loan to a joint venture between North Park Ventures and SNS Realty Group for the development of a transit-oriented apartment property on North Sheffield Avenue in Chicago. The loan included funds for the acquisition of the former Tortenson Glass Co., which consists of nearly 30,000 square feet of urban infill land. The five-story, 99-unit apartment building will offer 84 market-rate units and 15 affordable housing units. There will be four studios averaging 500 square feet, 46 one-bedroom units averaging 750 square feet and 49 two-bedroom units averaging 1,150 square feet. Amenities will include a clubroom with coworking space, a wellness center with a sauna, a rooftop deck with a dog run and a bike room.  There will be parking for 25 cars at the back of the site. Demolition of the existing structures will begin shortly, with completion of the new building planned for 2027. Daniel Barrins of Associated Bank managed the loan arrangements and closing.

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AcquisitionsLoansMarylandOfficeSoutheast

MMCC Arranges $6.8M Acquisition Loan for Office Property in Baltimore

by John Nelson

BALTIMORE — Marcus & Millichap Capital Corp. (MMCC) has arranged a $6.8 million acquisition loan for an office property located at 1520 S. Caton Ave. in Baltimore. Jared Cassidy of MMCC’s Washington, D.C., office secured the five-year loan with a regional bank on behalf of an unnamed, private client. Brightwood College formerly occupied the 37,200-square-foot, three-story office building. The property will be home to a regional aviation services company that will use the building as training grounds for aviation mechanics.

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Sugar-Land-Medical-Plaza
HealthcareLoansTexas

Tremont Realty Capital Provides $22.7M Loan for Refinancing of Metro Houston Healthcare Property

by Taylor Williams

SUGAR LAND, TEXAS — Tremont Realty Capital, a division of Boston-based investment firm RMR Group, has provided a $22.7 million loan for the refinancing of Sugar Land Medical Plaza, a 120,000-square-foot healthcare property located on the southwestern outskirts of Houston. Colliers arranged the loan on behalf of the sponsor, a partnership between Harrison Street and Pinecroft Realty. Tremont funded the loan, which was structured with a three-year initial term and two one-year extension options, through its affiliate, Seven Hills Realty Trust (NASDAQ: SEVN).

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1333-Broadway-Brooklyn
LoansMixed-UseNew YorkNortheast

JLL Arranges $58M Loan for Refinancing of Brooklyn Mixed-Use Building

by Taylor Williams

NEW YORK CITY — JLL has arranged a $58 million loan for the refinancing of 1333 Broadway, a mixed-use property in the Bushwick neighborhood of Brooklyn. Completed in April, the 20-story, 97,526-square-foot building houses 74 market-rate apartments, 32 affordable apartments and 29,000 square feet of commercial space. Peter Rotchford, Rob Hinckley and Robert Tonnessen of JLL arranged the loan through Barings on behalf of the borrower, a joint venture between Ekstein Development Group and Standard Real Estate Investments.

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