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Port-99-Baytown
DevelopmentIndustrialLoansTexas

Northmarq Arranges $102M in Financing for 1.3 MSF Industrial Project in Baytown, Texas

by Taylor Williams

BAYTOWN, TEXAS — Northmarq has arranged $102 million in financing for a 1.3 million-square-foot industrial project that will be located in the eastern Houston suburb of Baytown. The 92-acre project represents Phase II of Port 99 and will consist of three buildings with cross-dock and front-load configurations. The financing includes both debt and equity. A specific breakdown of each component was not disclosed, but the package includes a senior construction loan of an undisclosed amount from Bank OZK, a $30.4 mezzanine loan from PGIM and a joint venture equity investment from Junction Commercial Real Estate. Warren Hitchcock led the Northmarq team that arranged the financing on behalf of the developer, Provident Realty Advisors.

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The-Steven-Apts-Rocklin-CA
Affordable HousingCaliforniaLoansMultifamilySeniors HousingWestern

Merchants Capital Provides $193M in Financing for Two Affordable Housing Projects in Rocklin, California

by Amy Works

ROCKLIN, CALIF. — Merchants Capital has provided roughly $193 million in financing for The Frances and The Steven, a pair of affordable housing developments in Rocklin, about 20 miles north of Sacramento. Developed by USA Properties Fund, the communities will provide 504 new affordable apartments for seniors and families across a range of income levels. Financing for The Frances includes a $72.1 million private placement bond loan through AllianceBernstein and $76.1 million in construction period debt to bridge incoming tax credit equity and permanent bond financing provided by Merchants Bank. Financing for The Steven includes a $30.6 million private placement tax-exempt bond loan through AllianceBernstein and $15 million in construction period debt provided by Merchants Bank. The Frances will feature 324 one-, two- and three-bedroom apartments designated to residents earning 30 to 70 percent of the area median income (AMI) with fully equipped kitchens, central air conditioning and walk-in closets. Community amenities will include a pool, playground, fitness center, courtyard/picnic area, community room, dog park, computer room, service coordinator and an onsite manager. The Steven will add 180 one- and two-bedroom apartments for seniors aged 55 and up that earn between 30 and 70 percent of AMI. Nonprofit organization LifeSTEPS will …

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Dutch-House-Queens
LoansMultifamilyNew YorkNortheast

Slate Property Group Receives $86.2M Loan for Refinancing of Queens Apartment Complex

by Taylor Williams

NEW YORK CITY — Locally based developer Slate Property Group has received an $86.2 million loan for the refinancing of Dutch House, a 186-unit apartment complex located in the Long Island City area of Queens. Designed by Aufgang Architects and completed in 2022, Dutch House features studio, one- and two-bedroom units and 21,000 square feet of ground-floor retail space. Roughly 30 percent (56) of the apartments are earmarked as affordable housing. Amenities include a lobby with concierge service, fitness center, recreation room with a pool table and a rooftop terrace. Aaron Appel, Jonathan Schwartz, Dustin Stolly, Keith Kurland, Adam Schwartz and Sean Bastian of Walker & Dunlop arranged the loan through Ares Capital Management on behalf of Slate, which owns the property in partnership with Avenue Realty Capital. The loan retires 2023 debt issued by Los Angeles-based PCCP.

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LoansNortheastPennsylvaniaRetail

JLL Arranges $73.5M Loan for Refinancing of Retail Power Center in McCandless, Pennsylvania

by Taylor Williams

MCCANDLESS, PA. — JLL has arranged a $73.5 million loan for the refinancing of a 387,771-square-foot retail power center in McCandless, a northern suburb of Pittsburgh. McCandless Crossing was 99 percent leased at the time of the loan closing, with Lowe’s Home Improvement, T.J. Maxx, Trader Joe’s, HomeGoods and Sierra Trading serving as the anchor tenants. The overall tenant roster has a weighted average remaining lease term of 5.7 years. Nick Unkovic, Claudia Steeb and Zachary Barone of JLL arranged the five-year, fixed-rate loan through Nationwide on behalf of the owner, AdVenture Champion Partners.

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KansasLoansMidwestMultifamilySeniors Housing

Partnership Receives $66.9M Loan for Refinancing of Active Adult Community in Fairway, Kansas

by Kristin Harlow

FAIRWAY, KAN. — A partnership between EPC Real Estate Group and Platform Ventures has received a $66.9 million loan for the refinancing for The Fieldston, an active adult community located in Fairway, approximately 10 miles southwest of Kansas City. Completed in 2025, the property is situated on 4.6 acres and totals 209 units. Amenities at the community include a swimming pool, sun deck, pub, golf simulator, spa, coworking spaces, outdoor kitchen, outdoor lounge, putting green, exercise studio, yoga studio, pet parlor and community garden. Mark Erland, Kevin Baron and Ellie Savage of JLL arranged the financing on behalf of the borrower. The direct lender was not disclosed.

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201-Hudson-by-Urby-Jersey-City
DevelopmentLoansMultifamilyNew JerseyNortheast

Newmark Arranges $277M Construction Loan for Jersey City Apartment Tower

by Taylor Williams

JERSEY CITY, N.J. — Newmark has arranged a $277 million construction loan for 201 Hudson — by Urby, a 69-story apartment building that is being developed in Jersey City’s Paulus Hook neighborhood. The building will have 748 units in a mix of studio, one-, two- and three-bedroom floor plans, as well as 10,000 square feet of retail space. Amenities will include a pool, fitness center, social and coworking spaces and outdoor recreation areas. Jordan Roeschlaub, Chris Kramer, Holden Witkoff and Jack Fenton of Newmark arranged the loan through Truist Financial. The developer is a joint venture between Rockpoint, a Boston-based real estate private equity firm, and Urby, a hospitality-driven multifamily developer. The development was first announced this summer.

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HospitalityLoansNew YorkNortheast

Knighthead Funding Provides $65M Loan for Refinancing of Long Island Hotel, Resort

by Taylor Williams

MONTAUK, N.Y. — Knighthead Funding has provided a $65 million loan for the refinancing of Marram Montauk, a 96-room hotel and resort located on the tip of Long Island. Marram Montauk was built in 1967 and renovated in 2020. Guestrooms feature private terraces and balconies, and amenities include an oceanfront pool, private cabanas, curated wellness programming and onsite food-and-beverage options. The undisclosed sponsor acquired the property in 2022 and has since expanded on the capital improvements.

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LoansRetailTexas

MMCC Arranges $19.6M in Financing for Travel Center in Mount Pleasant, Texas

by Taylor Williams

MOUNT PLEASANT, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged $19.6 million in financing for a 9,557-square-foot travel center in Mount Pleasant, located in northeast Texas. The name and address of the property, which features a fuel station, restaurant and laundry facilities, were not disclosed. Ron Balys of MMCC arranged the five-year loan, which carries a 6.75 percent interest rate, through an undisclosed national bank. The borrower was also not disclosed.

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The-Sophia-Manhattan
LoansMultifamilyNew YorkNortheast

Timber Equities Receives $27.5M Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Locally based owner-operator Timber Equities has received a $27.5 million loan for the refinancing of The Sophia, a 60-unit apartment building in Manhattan’s Inwood neighborhood. The 11-story building was completed in fall 2025 and includes 1,700 square feet of retail space. Units come in one-, two- and three-bedroom floor plans, and amenities include a fitness center, resident lounge, package room and a rooftop deck. Max Hulsh of Institutional Property Advisors (IPA), a division of Marcus & Millichap, led the team that arranged the loan through LaSalle Investment Management on behalf of ownership.

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HealthcareLoansNew JerseyNortheast

JLL Arranges Refinancing of 48,312 SF Medical Office Building in New Providence, New Jersey

by Taylor Williams

NEW PROVIDENCE, N.J. — JLL has arranged a loan of an undisclosed amount for the refinancing of a 48,312-square-foot medical office building in New Providence, about 25 miles west of New York City. Murray Hill Medical Office Building was 95 percent leased at the time of the loan closing, with Atlantic Health Group and New Providence Dentistry serving as the anchor tenants. Ryan Carroll and Matthew McManus of JLL arranged the loan through an undisclosed life insurance company on behalf of the owner, MEARJ Properties.

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