Thursday, May 14, 2026
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FloridaLoansSoutheastStudent Housing

Walker & Dunlop Provides $53.7M Agency Refinancing for Student Housing Community in Daytona Beach

by John Nelson

DAYTONA BEACH, FLA. — Walker & Dunlop has provided a $53.7 million Freddie Mac loan for the refinancing of OnShore, a 636-bed student housing community located near Embry-Riddle Aeronautical University in Daytona Beach. Delivered in 2020, the community offers 210 units alongside shared amenities including a fitness center, study areas, an infinity pool and a flight simulator. Will Baker, Mike Shropshire, William Shell and Doug McDaniel of Walker & Dunlop originated the seven-year, floating-rate loan with a four-year interest-only period on behalf of the borrower, a partnership between L3 Campus and Aureon Partners. Austin Kinn of TSB Capital Advisors also consulted on the transaction on behalf of the borrower.

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DevelopmentHospitalityLoansMarylandSoutheast

MCEC Closes $43M C-PACE Loan for Marriott Downtown Frederick Hotel in Maryland

by John Nelson

FREDERICK, MD. — The Maryland Clean Energy Center (MCEC) has closed a $43 million loan for the development of the Marriott Downtown Frederick at Carroll Creek, a 204-room hotel underway in downtown Frederick. The Maryland Property Assessed Clean Energy (MDPACE) transaction represents the largest C-PACE loan in Maryland to date, according to MCEC, which is the administrator of the MDPACE program. Nuveen Green Capital provided the 30-year, fixed-rate financing on behalf of the locally based developer, Plamondon Hospitality Partners. The C-PACE financing will fund sustainable initiatives at the property including advanced insulation, roofing, windows, HVAC systems, LED lighting, low-flow water fixtures and hot water systems. The Marriott Downtown Frederick at Carroll Creek will be situated on 2.2 acres at 20 S. Carroll St. and feature more than 20,000 square feet of conference and event space, including a rooftop terrace and flexible indoor-outdoor venues. The hotel will also have two restaurants (one creekside and one rooftop bar and restaurant), a lobby bar and a coffee shop and market. The hotel’s target opening date was not released.

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DevelopmentLoansMixed-UseTexas

Oak Street Capital Arranges $15M Construction Loan for Mixed-Use Project in Taylor, Texas

by Taylor Williams

TAYLOR, TEXAS — Oak Street Capital, an Austin-based financial intermediary, has arranged a $15 million construction loan for a mixed-use project that will be located in the Central Texas city of Taylor. The site is located along Second Street, and the project will be an 82-unit condo and retail development. Brian Hampton led the Oak Street Capital team on the debt placement. The lender was First Bank of The Southwest, and the borrower was Metropolitan Development Co. A groundbreaking ceremony took place on March 25.

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AcquisitionsLoansMichiganMidwestMultifamily

SF Capital Group Arranges $32M Acquisition Loan for Michigan Multifamily Property

by Kristin Harlow

SHELBY TOWNSHIP, MICH. — SF Capital Group has arranged a $32 million loan for the acquisition of a 368-unit multifamily property in Shelby Township. Ryan Denomme of SF Capital arranged the nonrecourse bridge loan, which features three years of interest-only payments and future funding commitments. The undisclosed borrower plans to execute a property improvement and unit renovation plan.  

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DevelopmentLoansMultifamilyStudent HousingTexas

Elevate Development Receives $116M in Financing for Student Housing Project Near Texas State University

by Taylor Williams

SAN MARCOS, TEXAS — Elevate Development Partners has received $116 million in acquisition and construction financing for the development of a 759-bed student housing community near Texas State University in San Marcos. The 260-unit project is being developed in partnership with Flintco. S3 Capital provided financing for the development, which will span 280,124 square feet. Shared amenities are set to include a social lounge, bicycle room, package room, resort-style pool, yoga and wellness room, fitness center, study lounges and conference rooms. Preiss has been tapped to manage the community upon completion. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Dustin Stolly of Walker & Dunlop arranged the financing on behalf of the developer.

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LoansTexas

Kennedy Funding Provides $4.4M Loan for Refinancing of Residential Development Site in Spicewood, Texas

by Taylor Williams

SPICEWOOD, TEXAS — Kennedy Funding, a New Jersey-based direct lender, has provided a $4.4 million loan for the refinancing of a 38.8-acre residential development site in the Central Texas city of Spicewood. The site consists of six adjoining parcels, and the undisclosed borrower will use the loan proceeds to access capital to support the next stage of the project, details of which were not disclosed. Edwin Urrego led the Kennedy Funding team in the transaction.

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AcquisitionsLoansMultifamilyNevadaWestern

Newmark Negotiates Sale, Financing of 404-Unit Village at Iron Blossom Multifamily Property in South Reno

by Amy Works

SOUTH RENO, NEV. — Newmark has directed the sale and financing of Village at Iron Blossom, an apartment community in South Reno. Details of the sales price and financing were not released. Jonathan Merhaut led the Newmark team that represented the undisclosed seller. Located at 690 E. Patriot Blvd., Village at Iron Blossom features 404 apartments. Built in 1984, the property has remained under the same ownership for the past decade and has benefited from significant capital improvements, including an estimated $12 million reinvested by the owner to maintain the property’s standing as a market-leading Class B community, according to Newmark.

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6600-W-Latham-St-Phoenix-AZ
ArizonaIndustrialLoansWestern

Gantry Secures $22M Refinancing for Single-Tenant Industrial Building in Phoenix

by Amy Works

PHOENIX — Gantry has secured a $22 million permanent loan to refinance maturing debt on a single-tenant industrial building located at 6600 W. Latham St. in Phoenix. Situated on 23.3 acres, the 437,000-square-foot property is currently used as both a showroom and warehouse facility for Living Spaces. Tim Storey and Chad Metzger of Gantry’s Phoenix production office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was provided by a life company lender from Gantry’s exclusive network of correspondents and affiliates, featuring a full-term interest-only payment schedule.

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LoansMichiganMidwestSingle-Family Rental

Madison Capital Group Arranges $21.2M in Financing for Detroit Single-Family Rental Portfolio

by Kristin Harlow

DETROIT — Madison Capital Group has arranged $21.2 million in permanent senior debt financing for a 266-home single-family rental portfolio throughout metro Detroit. Detroit Renaissance Funds owns and operates the portfolio. Madison Capital is also an equity investor in the portfolio, which consists of a mix of renovated single-family homes and duplex/multiplex residences primarily with three- and four-bedroom units. A significant portion of the units are supported by Section 8 programs. At present, the portfolio is more than 96 percent occupied.

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DevelopmentFloridaLoansMultifamilySoutheast

Berkadia Arranges $37M Construction Loan for Apartment Development in Palm Bay, Florida

by John Nelson

PALM BAY, FLA. — Berkadia has secured a $37 million construction bridge loan to finance Astor Pointe, a 171-unit, garden-style multifamily community underway at 3400 Wedgewood Drive NE in Palm Bay. Scott Wadler, Patrick Johnson, Mitch Sinberg, Matt Robbins and Brad Williamson of Berkadia arranged the 24-month loan through RMWC on behalf of the borrower, Miami-based Midtown Capital Partners. The developer will use proceeds of the floating-rate loan to retire the existing construction debt and fund remaining completion costs as Astor Pointe delivers and stabilizes. The waterfront property will feature a mix of one-, two- and three-bedroom residences averaging approximately 870 square feet in size. Amenities will include a resort-style pool, clubhouse, fitness center, outdoor entertainment areas, dog park and spa, game room and a coffee bar.

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