NEW YORK CITY — JLL has arranged a $104 million loan for the refinancing of a portfolio of two multifamily properties totaling 233 units in Manhattan. The portfolio comprises Renoir House, a 151-unit building located at 225 E. 63rd St. on the Upper East Side, and an 82-unit building located at 120-125 Riverside Drive on the Upper West Side. The buildings were originally constructed in 1962 and 1904, respectively. Scott Aiese, Lauren Kaufman, Hall Oster and Alex Staikos of JLL arranged the financing through Citi on behalf of the owner, AYA New York. The portfolio was roughly 97 percent occupied at the time of the loan closing.
SEATTLE — Columbia Pacific Advisors has received a $130 million loan for the refinancing of Murano Senior Living, a seniors housing community located in Seattle. The borrower developed the property, which opened in 2019. Chris Cain, Tyler Armstrong and Taylor Russ of Lument arranged the financing on behalf of the borrower. Murano Senior Living features 243 units, with 215 independent and assisted living units and 28 memory care units. Amenities at the property include wellness suites, an art studio and an outdoor terrace. Merrill Gardens operates the community on behalf of the owner. Occupancy at the property surpassed 90 percent in October. Alternative investment management firm Columbia Pacific Advisors has executed more than $10 billion in seniors housing-related transactions since 2006.
FORT WORTH, TEXAS — JLL has arranged a loan of an undisclosed amount for the refinancing of Bowie House, a 106-room boutique hotel located in Fort Worth’s Cultural District. Bowie House, which is part of the Auberge Collection family of hospitality brands, opened in 2023 and includes 18 suites. The amenity package comprises an outdoor pool, fitness center, spa, multiple food-and-beverage outlets and 10,835 square feet of meeting and event space. Jim Curtin, De’On Collins, Luke Rogers, Campbell Swango, Greyson Fewin and Robert Westerfield of JLL arranged the floating-rate loan through MetLife on behalf of the owner, Bowie Place Properties.
HOBOKEN, N.J. — New Jersey-based investment firm Faropoint has received a $474 million loan for the refinancing of a national portfolio of 85 industrial buildings. The addresses of the buildings were not disclosed, but the portfolio spans 12 states, with concentrations in the Chicago, Philadelphia and New York/Northern New Jersey markets. Truist Bank and Capital One co-provided the debt, with the $474 million representing an initial advance and the lenders committing an additional $84 million that will be available through an earn-out and holdback as the portfolio’s net operating income (NOI) increases. The loan also includes an accordion feature of up to $700 million to fund new properties and/or further earn-out beyond the $557 million as NOI increases and valuations grow.
ORLANDO, FLA. — JLL has arranged a $386 million construction loan for the development of InterContinental Orlando, a 700-room hotel located at 8001 International Drive in Orlando. Set to open in 2029, the 12-story hotel will span more than 900,000 square feet and be situated near Universal Epic Universe, Universal Orlando Resort, Walt Disney World Resort and the Orange County Convention Center. Kevin Davis, Mark Fisher, Jillian Mariutti, Wyatt Krapf, Henry Winchester and Martha Duff of JLL arranged the four-year, floating-rate loan through Civitas on behalf of the borrowers, Flag Luxury Group and Unicorp National Developments Inc. The loan features two one-year extension options. InterContinental Orlando will operate under the InterContinental Hotels & Resorts brand and include 105,000 square feet of meeting and pre-function space, multiple food-and-beverage venues, a conservatory, spa and wellness facilities, fitness center, lounge, pool and structured parking.
PITTSBURGH — Affinius Capital has provided a $100.3 million construction loan for Atmosphere Pittsburgh, a 672-bed student housing project that will be located near the University of Pittsburgh campus in the city’s Oakland neighborhood. The borrower is a joint venture between Starwood Capital Group and Trinitas Ventures. Atmosphere Pittsburgh will rise 10 stories and offer 326 fully furnished units, 34 of which will be designated as affordable housing. Shared amenities will include a rooftop fitness center and hot tub, game room, TV and computer lounges and private study spaces. Dwell Design Studio is the project architect. Completion is slated for summer 2028.
IRVINE, CALIF. — American Campus Communities (ACC) has closed on $191 million in financing for a 1,065-bed student housing development on the University of California, Irvine (UC Irvine) campus. The project is being developed in partnership with the Collegiate Housing Foundation, which will serve as the community’s owner, borrower and lessee. The development is scheduled for completion in fall 2028 and will span 387,000 square feet across two buildings. The community will offer 308 fully furnished units in studio through four-bedroom configurations designed to target undergraduate students. Shared amenities are set to include dedicated study areas, indoor social lounges, furnished outdoor courtyards, bicycle storage and laundry facilities. The development team for the project, which is targeting LEED Gold certification, includes KTGY and Benchmark. The partnership between ACC and UC Irvine spans 25 years and will include the delivery of 8,700 beds upon completion.
MOUNTAIN VIEW, CALIF. — Northmarq has arranged a $105 million refinancing of Madrone Apartments, a 272-unit community at 111 N. Rengstorff Ave. in Mountain View, 35 miles south of San Francisco. Nathan Prouty and Andrew Slaton of Northmarq arranged the financing on behalf of Prometheus Real Estate Group. New York Life provided the five-year, full-term interest-only loan, which refinances approximately $90 million in existing debt originally arranged by Northmarq in 2016. Prometheus is planning to develop eight accessory dwelling units (ADUs) following the loan closing.
GLENDALE, ARIZ. — Panattoni Development Co. has received $58.7 million in refinancing for Northern Logistics Center, a Class A industrial portfolio in Glendale. Jason Carlos, Frank Choumas, Ross Jorgensen and Andrew Mings of JLL Capital Markets secured the three-year, floating-rate loan through Mesa West Capital for the borrower. Completed in 2025, Northern Parkway Logistics Center features 445,187 square feet of industrial space spread across three buildings at 12815 W. Northern Ave. and 12795 W. Northern Ave. The property features 32- to 36-foot clear heights, 73 dock-high doors, eight grade-level doors, heavy power capabilities ranging from 3,000 to 6,000 amps, ESFR sprinkler systems, 62 trailer parking stalls and 451 vehicle parking spaces. The buildings are designed to accommodate both single-tenant and multi-tenant users. At the time of financing, the property was 57.9 percent leased.
SPRINGFIELD, MO. — BWE has arranged a $240 million recapitalization of a seniors housing portfolio located across three markets in the Midwest. BWE served as exclusive capital markets advisor to O’Reilly Development Co. LLC, a Springfield, Mo.-based developer and investor, in capitalizing the transaction. The portfolio comprises purpose-built independent living, assisted living and memory care communities developed by O’Reilly between 2019 and 2022. The communities are fully stabilized, operating at occupancy levels ranging from 96 to 99 percent. Arrow Senior Living, a St. Charles, Mo.-based regional operator, manages the portfolio. Arrow is co-invested alongside O’Reilly in the venture.
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