MENLO PARK, CALIF. — Ensemble Investments has obtained $110 million in financing for the refinancing and fund closing costs for Hotel NIA, an operating, full-service hotel in Menlo Park. Madison Realty Capital, working with Newfound Holdings, originated the loan for the borrower. Offering 250 guest rooms, the hotel operates as part of Marriott’s Autograph Collection and is the only full-service hotel within the Menlo Gateway campus. Hotel NIA features 241 standard rooms, nine suites, three food-and-beverage outlets, a heated outdoor pool and jacuzzi, 24-hour fitness center and 301 valet parking spaces. Additionally, the hotel offers 15,345 square feet of indoor and outdoor meeting and event space, including the 4,968-square-foot Brilliance Ballroom. Ensemble plans to transition hotel operations in-house to Ensemble Hospitality, its affiliated management platform.
ARAPAHOE COUNTY, COLO. — Walker & Dunlop has secured a $68.2 million loan for the refinancing of Madison at Copperleaf, a 330-unit multifamily community in unincorporated Arapahoe County. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Sean Reimer, Michael Ianno, Christopher de Raet and Jason Schwartzberg of Walker & Dunlop Capital Markets Institutional Advisory, along with Justin Nelson and P.J. Feichtmeier of Walker & Dunlop Capital Markets Real Estate Finance, arranged the three-year, floating-rate bridge loan for the borrowers, BMC Investments and Rockpoint. Prime Finance provided the loan. Located at 22500 E. Radcliff Circle, Madison at Copperleaf features one-, two- and three-bedroom layouts. Community amenities include a clubhouse with coworking spaces, a resort-style pool and spa, fitness and yoga studios, a sauna, children’s playroom, dog park and pet spa, EV charging and outdoor gathering areas.
NEW YORK CITY — Soloviev Group has received a $1.8 billion CMBS loan to refinance 9 West 57th Street, a 1.7 million-square-foot office tower located in Manhattan’s Plaza District. Bank of America, along with Wells Fargo and Citi Real Estate Funding, provided the loan, which carries a 4.9 percent interest rate. Proceeds of the five-year loan will retire a previous 10-year, $1.2 billion loan issued by JPMorgan Chase in 2016, with more than $500 million returning to Soloviev. “This refinancing is a clear validation of the strength of 9 West 57th Street and the collaborative success of lead lender Bank of America, and secondary leads Wells Fargo and Citibank,” says Stefan Soloviev, chairman of Soloviev Group. Soloviev Group’s 50-story flagship trophy tower, known as the Solow Building, is expected to achieve a market valuation of $3.9 billion upon stabilization, according to Soloviev Group. Designed by Skidmore, Owings & Merrill and delivered in 1974, the building recently underwent capital improvements to the lobby, elevators and building system technology. Ownership has also introduced a new 20,000-square foot amenity floor, that includes Central Park views, conference rooms, multi-functional meeting space, a grab-and-go coffee bar, executive dining and a hospitality area. The property’s long-term tenants …
SANTA ROSA BEACH, FLA. — Walker & Dunlop has arranged a $79 million loan for the refinancing of The Jewel at Santa Rosa Beach, a Class A, 408-unit apartment community in Florida’s Panhandle region. Jeremy Pino, Livingston Hessam, Carl Passmore, Kyle Miller, Keith Melton and David Strange of Walker & Dunlop arranged the interest-only, nonrecourse bridge loan through an institutional debt fund on behalf of the borrower, Bristol Development Group. Located at 158 Malachite Way, The Jewel sits along US Highway 98 and three miles north of the popular 30A corridor. The property features one-, two- and three-bedroom townhome-style residences, as well as a clubhouse, fitness center, two swimming pools, coworking space, golf lounge and a dog park and spa.
TIGARD AND LAKE OSWEGO, ORE. — Gantry has secured permanent loans totaling $27 million for two stabilized apartment communities in Oregon — Main Street Village in Tigard and The Ridge at Mountain Park in Lake Oswego. Totaling 373 units, the communities offer a variety of amenities, including swimming pools, clubhouses and covered parking and/or garages. Blake Hering and Kristin Lapinskas of Gantry represented the borrower, a private real estate group, in the financing. Both seven-year, fixed-rate nonrecourse loans were provided by one of Gantry’s correspondent insurance company lenders and include either full-term or partial term interest-only payments. Gantry will service the loans on behalf of the lender.
PASSAIC, N.J. — Cushman & Wakefield has brokered the $49 million sale of The Pennington, a 147-unit apartment building in the Northern New Jersey community of Passaic. Completed in 2024, The Pennington is an adaptive reuse building that offers studio, one-, two-, three- and four-bedroom units with an average size of 968 square feet. P3 Properties acquired the asset from Birch Group. Niko Nicolaou, Ryan Dowd, David Bernhaut, Peter Welch, J.P. Hohl and Alexandria Russo Ebers of Cushman & Wakefield brokered the deal. Brad Domenico, John Alascio, Chuck Kohaut, Frank Stanislaski, Ethan Thompson and Jack Subers, also with Cushman & Wakefield, arranged $45.9 million in acquisition financing for the transaction through Prime Finance.
DENVER — Price Brothers has obtained refinancing for Rye SoBo, an apartment community in Denver. Cortney Cole, Leon McBroom and Emily Goldberry of JLL Capital Markets secured the floating-rate loan through a debt fund for the borrower. Located at 290 W. Alameda Ave., Rye SoBo features 353 studio, one- and two-bedroom apartments with open floor plans, high-end interior finishes and contemporary finishes. Onsite amenities include a rooftop lounge with mountain and downtown views, a two-story fitness center, two-story coworking lounge with conference rooms, swimming pool with a hot tub, beer garden with outdoor games, a pet spa, electric vehicle charging stations and a rooftop bark park with access to a large public dog park. The Class A mid-rise property was completed in 2021.
NEW YORK CITY — JLL Capital Markets has arranged a $150 million loan for the refinancing of the Bay Terrace Shopping Center, a grocery-anchored retail property in the Bayside neighborhood of Queens. JLL secured the loan through New York Life Real Estate Investors on behalf of the locally based borrower, Cord Meyer Development. Located at the intersection of 26th Avenue and Bell Boulevard, Bay Terrace totals 326,445 square feet and was approximately 90 percent leased at the time of financing. Anchored by Stop & Shop, the property is also home to HomeGoods, AMC Theatres, Bank of America, Chase Bank, Sephora and LA Fitness. The center was originally developed in the 1960s. Cord Meyer has recently invested significant capital to enhance the asset, including façade upgrades, new signage, improved pedestrian circulation and a “Restaurant Row.” Additional improvements are planned to further modernize the property. According to JLL, the Northeast Queens submarket contains 23.8 million square feet of retail inventory with a vacancy rate of 2.5 percent. Current retail construction is significantly below historical averages, with 15,000 square feet underway, one-tenth of the 150,000-square-foot annual average. Founded in 1904, Cord Meyer is a developer, owner and operator of retail, commercial and residential …
FORT WORTH, TEXAS — San Francisco-based intermediary Gantry has arranged a $60 million loan for the refinancing of a 1.4 million-square-foot industrial building in Fort Worth. An undisclosed insurance company provided the loan, which was structured with a fixed interest rate, interest-only payments and two one-year extensions. George Mitsanas, Tim Storey and Chad Metzger led the transaction for Gantry. The borrower was also not disclosed. The building was fully leased at the time of sale to a toy company.
WASHINGTON, D.C. — Meridian Capital Group has arranged a $50 million bridge-to-agency loan for the refinancing of Langston Views, a 671-unit apartment complex located at 2300 Marion Barry Ave. SE in Washington, D.C. Meridian Capital arranged the financing through NewBridge Lending on behalf of the Chicago-based borrower, Clear Investment Group, which purchased the residential property from foreclosure in December 2024. Since acquisition, Clear has invested in capital improvements to Langston Views, including 24/7 onsite personnel, a fob entry system, new swimming pool and a community room. Built in 1966, the property comprises two 12-story residential towers and multiple garden-style apartment buildings. The development was 85 percent occupied at the time of financing.
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