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Loans

Freemont-Frisco-Apartments
DevelopmentLoansMultifamilyTexas

BridgeInvest Provides $57M Construction Loan for Frisco Multifamily Project

by Taylor Williams

FRISCO, TEXAS — Miami-based lender BridgeInvest has provided a $57 million construction loan for Freemont Frisco Apartments, a 313-unit multifamily project that will be located on the northern outskirts of Dallas. Freemont Frisco will offer studio, one-, two- and three-bedroom units and will include an affordable housing component. Amenities will include a pool, clubhouse, fitness center and multiple courtyards. The sponsor is a partnership between Stryker Properties and Griffon Capital Management, and 25 Capital Partners is also a preferred equity investor in Frisco Freemont. BBL Building Co. is the general contractor for the project, construction of which is scheduled to be complete in mid-2028.

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Moderno-Apts-Portfolio-LA-CA
CaliforniaLoansMultifamilyWestern

IPA Capital Markets Arranges $44M in Financing for Two Apartment Properties in Los Angeles

by Amy Works

LOS ANGELES — IPA Capital Markets, a division of Marcus & Millichap, has arranged $44 million in financing for two multifamily communities in Los Angeles. Moderno Axis, located at 7650 Van Nuys Blvd. in the city’s Van Nuys neighborhood, received $28.3 million in financing. Moderno La Granada Hills, at 17454 Chatsworth St. in the Granada Hills neighborhood, received $15.7 million in financing. Anita Paryani-Rice of IPA Capital Markets secured the financing with a national bank on behalf of the private client. The five-year, fixed-rate, nonrecourse loans were structured with full-term interest-only payments, step-down prepay and no lender origination fees. Situated next to Van Nuys MetroLink and Amtrak Station, Moderno Axis offers 126 studio, one- and two-bedroom units. Community amenities include in-unit laundry, a fitness center, swimming pool, hot tub, bike storage, fire pits, a barbecue area, dog park and an onsite pet grooming spa. Located near California State University Northridge, Moderno La Granada Hills features 54 studio, one- and two-bedroom apartments with in-unit laundry and central air and heating. Onsite community amenities include a fitness center, pool with hot tub and sundeck, a dog park and onsite pet grooming, recreation room with media and gaming, a media theater, fire pit …

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Chesterbrook-King-of-Prussia
LoansNortheastOfficePennsylvania

Waterfall Provides $127M Loan for Refinancing of Metro Philadelphia Office Campus

by Taylor Williams

KING OF PRUSSIA, PA. — Waterfall Asset Management, a New York City-based lender, has provided a $127 million loan for the refinancing of Chesterbrook, a 1.1 million-square-foot office campus located northwest of Philadelphia in King of Prussia. The borrower, Rubenstein Partners, purchased the 14-building campus in 2019 and has subsequently invested $50 million in capital improvements. Those improvements included the creation of The Circuit, an amenity center with a food hall, outdoor gathering spaces, meeting rooms, a fitness center and a 20,000-square-foot coworking suite. Shawn Rosenthal, Jason Gaccione, Jake Salkovitz, Justin Helbling, Doug Rodio, Jerry Kranzel and Bruer Kershner of CBRE arranged the loan.

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IndustrialLoansMidwestMissouri

Gantry Secures $25.5M Refinancing for Logistics Facility in Riverside, Missouri

by Kristin Harlow

RIVERSIDE, MO. — Gantry has secured a $25.5 million permanent loan to retire maturing construction debt from the development of Riverside Logistics Centre II, a 328,000-square-foot, multi-tenant logistics facility in the northwest Kansas City suburb of Riverside. The building features a clear height of 36 feet, 36 overhead dock doors, four drive-in doors and parking for 88 trailers. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. A life insurance company provided the nonrecourse loan, which features a seven-year term, fixed interest rate and 27-year amortization.

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LoansMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $12M Loan for Refinancing of Queens Multifamily Portfolio

by Taylor Williams

NEW YORK CITY — Ariel Property Advisors has arranged a $12 million loan for the refinancing of a portfolio of three multifamily buildings totaling 60 units in Queens. The addresses of the buildings, which are located in the borough’s Sunnyside neighborhood, were not disclosed. Matthew Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which was structured with at 65 percent loan-to-value ratio and two years of interest-only payments. The undisclosed borrower will use a portion of the proceeds to complete renovations that are already underway.

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LoansMultifamilyNortheastPennsylvania

Newmark Arranges $145M Loan for Refinancing of Philadelphia Apartment Building

by Taylor Williams

PHILADELPHIA — Newmark has arranged a $145 million loan for the refinancing of Josephine, a 255-unit apartment building in Philadelphia. The 27-story building is located at 1620 Sansom St. within the Center City District and includes more than 20,000 square feet of retail and restaurant space across two floors. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool with a bar and lounge area, rooftop terrace, club lounge with games and a demonstration kitchen, a fitness center, spa areas, coworking lounge, coffee bar and outdoor grilling and dining stations. Jordan Roeschlaub, Nick Scribani and Samuel Speciale of Newmark arranged the loan on behalf of the owner, Nashville-based developer Southern Land Co.

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IllinoisLoansMidwestMultifamily

JLL Arranges $25.2M Refinancing for Boutique Apartment Building in Chicago

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged a $25.2 million loan for the refinancing of Chateau on Wells, a 43-unit luxury apartment building in downtown Chicago. The boutique property, built in 2016, features one retail suite and is located at 707 N. Wells St. in the heart of the River North entertainment district. Current occupancy is 95 percent. Units average 1,059 square feet and monthly rents average $4,091. Jesse Wright, Joshua Odessky, Sam Tarter, Miguel Pedersen and Ben Banzhof of JLL represented the borrower, Akara Partners, in arranging the three-year, floating-rate loan through D2 Residential.

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LoansMultifamilyNew YorkNortheast

JLL Provides $125.5M Agency Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — JLL has provided a $125.5 million Freddie Mac loan for the refinancing of Union Channel, a 224-unit apartment building located in the Gowanus area of Brooklyn. Designed by Fogarty Finger Architecture, the building is the first of four within the Gowanus Wharf development and also houses 22,226 square feet of retail space. Units come in studio, one-, two- and three-bedroom floor plans, with 25 percent of residences reserved as affordable housing. Amenities include a rooftop pool and sundeck, fitness center with a yoga studio and a coworking lounge. Christopher Peck, Peter Rotchford, Nicco Lupo and Michael Shmuely of JLL originated the seven-year, fixed-rate loan on behalf of the borrower, a partnership between Charney Cos., Tavros and Canyon Partners Real Estate.

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The-Chelsea-at-New-City
LoansMultifamilyNew JerseyNew YorkNortheastSeniors Housing

Partnership Receives $48M Loan for Refinancing of Tri-State Seniors Housing Communities

by Taylor Williams

NEW CITY, N.Y. AND WASHINGTON TOWNSHIP, N.J. — A partnership between Bain Capital Real Estate and Capitol Seniors Housing has received a $48 million loan for the refinancing of two seniors housing communities in the Tri-State area. The communities include The Chelsea at New City, located about 40 miles north of New York City, and The Chelsea at Washington Township, about 75 miles west of New York City. The properties were built in 2021 and 2023, respectively, and both offer memory care and assisted living services, as well as various onsite amenities. JLL arranged the three-year, floating-rate loan through an undisclosed regional bank on behalf of the partnership.

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Luxor-Bala-Cynwyd
LoansMultifamilyNortheastPennsylvania

ACRE Capital Funds $37M Acquisition Loan for Metro Philadelphia Multifamily Property

by Taylor Williams

BALA CYNWYD, PA. — ACRE Capital has funded a $37 million acquisition loan for Luxor Bala Cynwyd, a 173-unit multifamily property located on the western outskirts of Philadelphia. Completed in 2021, Luxor Bala Cynwyd features studio, one- and two-bedroom residences that range in size from 497 to 1,157 square feet. Amenities include a pool, fitness center with a yoga studio, golf simulator, landscaped outdoor courtyard, resident lounge and a dog park. Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia arranged the debt on behalf of the owner, a joint venture between Arizona-based Alliance Residential and Los Angeles-based PCCP

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