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.
ATLANTA — Atlanta-based Stonemont and PCCP have acquired an industrial portfolio for approximately $1 billion. According to multiple media outlets, the seller was Link Logistics, a subsidiary of Blackstone. The portfolio — which spans 5.9 million square feet across 38 bulk and light-industrial buildings — is spread across 14 markets in 10 states, including Austin, Central Florida, Charlotte, Dallas and Phoenix. The portfolio was 95 percent leased at the time of sale. The recently acquired assets complement Stonemont’s existing industrial portfolio and growing development pipeline, which currently includes more than 15 million square feet across 1,150 acres. Eastdil Secured arranged acquisition financing through JP Morgan and Wells Fargo on behalf of Stonemont and PCCP.
FORT LAUDERDALE, FLA. — Affiliated Development has received a $74 million construction loan for the development of The Cove, a 376-unit, mixed-income multifamily project located on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Pacific Life Insurance Co. provided the loan for the development, along with equity from the Affiliated Development Housing Impact Fund and family office capital partners. In addition, the developer secured tax rebates from Broward County and the City of Fort Lauderdale, as well as zoning priority and incentives via Florida’s Live Local Act. Moss Construction will serve as general contractor for The Cove. Situated on the site of a former hotel property, the $123 million multifamily project will reserve 55 percent, or approximately 207 apartments, for individuals and families earning up to 120 percent of the area median income (AMI). The Cove will also feature a resort-style amenity package and a parking garage.
CHICAGO — Walker & Dunlop Inc. has arranged a $555.6 million loan for the refinancing of a 14-property student housing portfolio totaling 4,295 units and 10,454 beds across nine states. Chicago-based real estate investment and property management company The Scion Group was the borrower. The communities are located in Arizona, Alabama, California, Colorado, Florida, Georgia, Louisiana, North Carolina and Texas. Specific property names were not disclosed. Walker & Dunlop’s Brendan Coleman, Will Baker and Colin Coleman secured the floating-rate, interest-only loan through an existing Fannie Mae credit facility. Scion maintains four Fannie Mae credit facilities, all of which were originated by Walker & Dunlop. Scion is the largest owner and operator of student housing communities globally with 190 communities and nearly 118,000 beds across 94 university markets. According to Walker & Dunlop’s 2026 Student Housing Outlook, demand continues to outpace supply across most major university markets. — Abby Cox
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.
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.
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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