WOODBURN, ORE. — Gantry has secured a $12 million construction-to-permanent loan for the development of an assisted living facility in Woodburn. Charlie Kokernak and Tim Brown of Gantry arranged the 10-year, fixed-rate loan for the borrower, an affiliate of Benicia Senior Living. An Oregon-based credit union provided the loan, which includes interest-only payments for the first three years followed by a 25-year amortization. Located at 1000 Country Club Road NE, the community will feature 46 units, totaling 51 beds. The property is adjacent to Heartwood Place Memory Care, which is also owned and managed by Benecia Senior Living.
NEW YORK CITY — Largo Capital, a financial intermediary based in upstate New York, has arranged $76 million in construction-to-permanent financing for an office-to-residential conversion project in Lower Manhattan. The project will redevelop the historic, 21-story office building at 2 Wall St. into a 211-unit apartment complex. Jack Phillips of Largo Capital structured the debt. The direct lender was not disclosed. The borrower was also not disclosed, but the building is listed on the website of local landlord George Comfort & Sons.
EXCELSIOR, MINN. — Northmarq has provided a $22.7 million Fannie Mae loan for the refinancing of One West Drive, a boutique apartment building with 49 units in Excelsior. Andy Finn of Northmarq arranged the permanent fixed-rate financing on behalf of the borrower, which included Monarch Development Partners, Red Leaf Partners and Blue Baukol Capital Partners. Completed in late 2024, One West Drive is situated on the site of the former Excelsior City Hall. The property features seven connected two-story buildings. Units come in one-, two- and three-bedroom layouts as well as two-bedroom rowhomes with private rooftops and garages. Amenities include a spa pool, fitness and yoga studio, private dining room, coworking lounge, outdoor grilling area, resident garden, two-story lobby and dog run.
Atlantic Cos. Secures Construction Financing, Breaks Ground on Mixed-Use Project in Roswell, Georgia
ROSWELL, GA. — The Atlantic Cos. has secured construction financing and commenced construction on Hillrose Market, a seven-acre mixed-use development in downtown Roswell, a northern suburb of Atlanta. The financing included debt from SouthState Bank and a revenue bond issued by the Roswell Downtown Development Authority. Patterson Real Estate Advisory Group arranged the financing. Located adjacent to City Hall with a walking trail connection to the city’s Canton Street district, Hillrose Market will comprise a six-building, 75,000-square-foot retail village surrounding a central greenspace, as well as an office building dubbed 25 Hill along Atlanta Street and an adaptive reuse of the former Roswell Police Department dubbed Station 37 that will feature ground-floor retail space and a second-level workplace. The overall development will also include 143 luxury rental flats and 16 two-story brownstone townhomes. Atlantic Cos. plans to deliver the project in the second half of 2027. The design-build team includes ASD | SKY (architect), Westbridge (commercial consultant), New South Construction Co. (general contractor), Kimley-Horn (civil engineer) and Crosby Design Group (interior design for the multifamily component). Bridger Properties is handling the development’s retail leasing assignment, and Cushman & Wakefield is handling office leasing.
GOODLETTSVILLE AND SMYRNA, TENN. — CBRE has arranged $58 million in acquisition financing for a last-mile industrial portfolio in metro Nashville spanning more than 600,000 square feet. Mike Ryan, Richard Henry, J.P. Cordeiro and Taylor Crowder of CBRE’s Debt & Structured Finance team arranged the financing through Starwood on behalf of the borrower, Raith Capital Partners. The properties in the portfolio include: 300 Oak Bluff Lane in Goodlettsville (207,080 square feet); 100 Northfork Lane in Goodlettsville (67,000 square feet); 200 Northfork Lane in Goodlettsville (100,500 square feet); and 801 Swan Drive in Smyrna (229,504 square feet). Delivered between 1993 and 1998, the properties were fully leased at the time to five tenants and feature clear heights ranging from 24 to 30 feet.
SEATTLE — Gantry has secured a $10.2 million permanent loan to refinance the historic Terminal Sales office building in downtown Seattle. Located at 1932 1st Ave., adjacent to Pike Place Market, the 11-story, 92,400-square-foot building was originally delivered in 1925. The property was eventually renovated to serve as modern creative office space and includes street-level retail space. Mike Wood and Tim Brown of Gantry represented the borrower, a private real estate investor. The 10-year, fixed-rate nonrecourse loan was secured by Gantry’s network of insurance company correspondent lenders with 25-year amortization. Gantry will service the loan for the lender.
VAUXHALL, N.J. — Ameritas Investment Corp. has provided a $13.5 million loan for the refinancing of Millburn Village, a 71,177-square-foot shopping center in the Northern New Jersey community of Vauxhall. Millburn Village is home to 19 tenants, many of which are long-term users, with Walgreens and Staples serving as the anchors. Ryan Carroll, Tyler Caricato and Caleb Henry of JLL arranged the three-year, fixed-rate loan on behalf of the borrower, New York City-based Lightstone, which acquired the center in 2003.
BELLEVILLE, N.J. — Connecticut-based SYM Investments has purchased SilverLake Apartments, a 232-unit multifamily complex in Belleville, about 10 miles west of New York City, for $80 million. Completed in early 2022, SilverLake Apartments consists of two five-story buildings that feature studio, one- and two-bedroom floor plans. Amenities include a fitness center, dog park, game room, entertainment lounge with a kitchen, rooftop terrace, business center and package lockers, as well as 17,024 square feet of commercial space that is fully leased. Mike Oliver, Steve Simonelli, Jose Cruz, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, Baltimore-based developer Klein Enterprises, in the transaction. Michael Klein, Thomas Didio Jr., Gerard Quinn and Joseph Gruber, also with JLL, originated a $56 million Freddie Mac acquisition loan on behalf of SYM Investments.
LITTLETON, COLO. — Vista Residential Partners has closed on financing for the development of Highline Vista, a four-story garden-style multifamily property in Littleton. Vertical construction is slated to commence in August 2026, with first residents scheduled for mid-2027 and full completion for late 2027. Situated approximately 14 miles south of downtown Denver, Highline Vista will offer 172 studio, one-, two- and three-bedroom apartments spread across three four-story residential buildings on 5.6 acres. Apartments will feature stainless steel appliances, quartz countertops, vinyl plank flooring, nine-foot ceilings, in-unit washers/dryers and open layouts. Planned community amenities will include a 3,500-square-foot clubhouse with fitness and business centers, a resort-style pool with cabanas and grilling areas, multiple outdoor amenity pavilions and a community park. Apex Multifamily Construction, a Vista affiliate, is serving as general contractor, and Rosemann Architects is designing the project.
CARLSBAD, CALIF. — PSRS has arranged $6.7 million in construction financing for a shopping center in Carlsbad. The project is a ground-up, partially preleased multi-tenant retail development. Trevan Swierczewski and Alexander Santulis of PSRS secured the nonrecourse financing, with a high-leverage structure, through a local debt fund. The financing features a 24-month term with two six-month extension options.
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