MARIANNA, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $3.2 million in acquisition financing for The Grove Apartments, a 44-unit multifamily community located in the heart of the Florida Panhandle in Marianna, approximately 65 miles west of Tallahassee. Garrett Fierstein of MMCC secured the five-year loan through a local credit union. The loan carries a 6.12 percent fixed interest rate, 30-year amortization period and a 70 percent loan-to-value ratio. Situated near Chipola College and Florida Caverns State Park, The Grove is fully occupied and features a mix of two- and three-bedroom townhomes with an average size of 1,100 square feet, according to Apartments.com.
GRAND CHUTE, WIS. — Associated Bank has provided a $32.7 million loan to Toonen Inc. for the construction of The Strata Apartments, a multifamily complex along McCarthy Road in Grand Chute. The 25-building project will include 236 units. Several of the buildings will feature attached or detached garages, and the majority (172) of the units will be two-bedroom floor plans. Construction is underway, and completion is slated for February 2028. Toonen maintains a portfolio of nearly 3,500 units across the Green Bay and Fox Valley areas of Wisconsin. Tim Jorgensen of Associated Bank managed the loan arrangements and closing.
OAK PARK, MICH. — Bernard Financial Group (BFG) has secured a $14 million permanent loan for a 475-unit multifamily property in Oak Park. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Lincoln Towers Apartments LP. A life insurance company provided the loan. BFG will provide servicing for the loan.
NEW YORK CITY — JLL has arranged a $19 million loan for the refinancing of a portfolio of five multifamily buildings totaling 42 units in Brooklyn. Known as the Edifice Portfolio, the newly renovated buildings are located at 431-433 Wythe Ave. and 313 S. 4th St. in Williamsburg and 19-21 Columbia Place in Brooklyn Heights. Jillian Mariutti and John Flynn of JLL arranged the loan through City National Bank on behalf of the borrower, local investment firm Edifice Real Estate Partners.
GARLAND, TEXAS — New York City-based Dwight Capital has provided a $56 million HUD-insured construction loan for StoneHawk Rosehill, a 269-unit multifamily project in the northeastern Dallas suburb of Garland. The site spans more than seven acres, and the development will offer one- and two-bedroom units, 51 percent of which will be subject to income restrictions. Amenities will include a pool, clubhouse with fitness and business centers, an onsite leasing and management office and outdoor recreation areas, including a landscaped courtyard. Brandon Baksh and Brian Yee of Dwight originated the financing through HUD’s 221 (d)(4) program on behalf of the locally based sponsor, StoneHawk Capital Partners.
SANTA ANA, CALIF. — Affinius Capital has received $144 million in construction financing for The Carina, an apartment development in Santa Ana. Jamie Kline, Charlie Vorsheck, Nick Englhard and Charlie Paul of JLL Capital Markets secured the three-year, floating-rate loan through QuadReal for the borrower. Located at 2828 N. Main St., The Carina will feature 408 apartments upon completion in October 2028. Construction began in April, with first units scheduled for delivery in May 2028. The nine-story property will offer a mix of studio, one- and two-bedroom apartments with stainless steel appliances, in-unit washers/dryers, quartz countertops, wood plank-style flooring and private balconies. Community amenities will include a resort-style swimming pool on an open-air, fourth-floor deck, an outdoor lounge and kitchen, fitness center, yoga and spin studio, resident game room, individual study rooms and offices, a dog run and wash, and onsite security. Lowe is managing development of the project. Greystar will provide property management for the community.
BERKELEY, CALIF. — Gantry has secured a $14 million permanent loan to refinance a near-term maturity for a student housing property located at 2715 Dwight Way in Berkeley. Situated within walking distance of the University of California Berkeley campus, the asset offers 109 beds in 29 units featuring two-, three- and four-bedroom furnished floor plans with modern kitchens, in-unit washers/dryers and hardwood flooring. Tom Dao, Alex Poulos and Toby Judge of Gantry represented the borrower, a private real estate investor. The five-year, fixed-rate, nonrecourse loan was secured from Amalgamated Bank with terms, including introductory interest-only payments transitioning to 30-year amortization, prepayment flexibility and extension options.
NORTH CHARLESTON, S.C. — Walker & Dunlop has arranged a $58 million loan to refinance two multifamily communities in North Charleston: Ellevate St. Ives and Ellevate North Charleston. Walker Layne, Matt Wallach, Stephen West, Austin Sneed and Tyler Roberts of Walker & Dunlop secured the floating-rate, interest-only bridge loan through Bridge Investment Group on behalf of the borrower, Chapel Hill, N.C.-based Eller Capital Partners. Located at 7930 St. Ives Road, Ellevate St. Ives comprises 248 apartments ranging in size from 680 to 1,048 square feet, according to Apartments.com. Amenities at the garden-style complex include a clubhouse, car wash area, fitness center, swimming pool, playground, courtyard and grilling and picnic areas. Ellevate North Charleston, which is situated at 2225 Greenridge Road, offers 192 garden-style apartments and features a mix of amenities such as a resort-style swimming pool, fitness center, picnic area, pet play area, dog park, outdoor grills and tennis courts. Both properties participate in South Carolina’s affordable housing tax abatement program, with 75 percent of units reserved for residents making 80 percent or less of the area median income (AMI), and 20 percent of the apartments reserved for residents making 50 percent or less of the AMI, in exchange for …
PENSACOLA, FLA. — McDowell Housing Partners has broken ground on Ekos at Warrington, a 120-unit affordable housing community located in Pensacola near the Naval Air Station (NAS). The community will serve a mix of income levels, with 10 percent of units reserved for extremely low-income (ELI) households at 40 percent of the area median income (AMI), and the remaining 90 percent of units serving households at or below 60 percent AMI. Also, 50 percent of the total units will be set aside for active-duty military members, veterans and their families, including half of the ELI units that will be reserved for veterans experiencing homelessness. Ekos at Warrington is expected to be completed in the third quarter of 2027. Located at 280 Dogwood Drive, Ekos at Warrington will span four, three-story buildings, along with a standalone clubhouse. The project will provide 72 one-bedroom, 36 two-bedroom and 12 three-bedroom units ranging in size from 631 to 1,197 square feet. Amenities will include onsite management and maintenance offices, a fitness center, community room with a kitchenette and game tables, media/business center with a computer lab, as well as a swimming pool, playground, dog park, barbecue area and a gazebo. The project will meet National Green …
FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $113.7 million in acquisition financing for Presidio Junction, a portfolio of three contiguous retail centers totaling approximately 375,000 square feet in Fort Worth. The financing comprises life insurance debt and preferred equity. The centers — Presidio Towne Crossing, Tehama Towne Crossing and Vista Ridge — were fully leased at the time of the loan closing to tenants including T.J. Maxx, HomeGoods, Aldi, Petco, Old Navy, Sephora and Five Below. Adam Mengacci led the IPA team that arranged the financing on behalf of the borrower, Younger Partners Investments. The names of the direct lender and equity partner(s) were not disclosed.
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