Loans Archives - REBusinessOnline

Newmark Arranges Sale, Financing of 1.4 MSF Office Campus in Irving

Taylor Williams — Tue, 19 May 2026 14:43:42 +0000

IRVING, TEXAS — Newmark has arranged the sale and financing of The Towers at Williams Square, a 1.4 million-square-foot office campus in Irving’s Las Colinas district. The Towers at Williams Square consists of four buildings, three of which are interconnected, and that recently underwent $25 million in renovations across the lobbies, amenity spaces and other common areas. Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan of Newmark represented the undisclosed seller in the transaction. Andrew Porteous, Clint Frease, Chris McColpin and Josh Francis, also with Newmark, arranged acquisition financing on behalf of the buyer, a joint venture between Vanderbilt Office Properties, Hillwood and TriPost Capital Partners. The campus was 76 percent leased at the time of closing.

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JLL, HJ Sims Secure $252.1M in Financing for Planned 214-Unit Seniors Housing Project in Huntington Beach, California

Amy Works — Tue, 19 May 2026 14:18:30 +0000

HUNTINGTON BEACH, CALIF. — JLL and HJ Sims have arranged $252.1 million in tax-exempt and taxable bond financing for the development of The Marisol, a seniors housing community in Huntington Beach. HJ Sims acted as lead book-running manager on the senior bonds and JLL Securities served as co-manager and led the process in securing the investor for the subordinate bonds. Issued through the California Public Finance Authority, the fixed- and floating-rate financing was structured into Series A senior bonds and subordinate Series B and C bonds. The bonds were divided into three tranches: a Series A $165.7 million tranche, a Series B $74.3 million tranche and a Series C $12.1 million tranche. Located at 2120 Main St., The Marisol is currently under construction and will deliver 214 seniors housing units and a full amenity package in 2028. JLL’s Senior Housing Capital Markets team served as real estate advisor on the project.

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Seachange Partners Receives $15.6M in Construction Financing for Two Affordable Housing Projects in Los Angeles

Amy Works — Tue, 19 May 2026 14:12:06 +0000

LOS ANGELES — Seachange Partners has received $15.6 million in nonrecourse construction financing for two affordable multifamily developments in Los Angeles. Keith Rosso and Jeremy Kanter of Berkadia arranged the financing through Genesis Capital, a private Los Angeles-based residential construction lender. Located at 1723 Corinth Ave. and 3751 Delmas Terrace, the two five-story properties will deliver a combined 79 units of deed-restricted affordable housing. Construction is underway, with completion slated for 2027. Seachange Partners was founded in 2024 by Kyle Jenkins and Cameron Whiting. To date, the firm has initiated four affordable housing development projects in the greater Los Angeles area. The Corinth Avenue and Delmas Terrace developments are Seachange’s inaugural projects.

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Foss Real Estate Arranges $7M in Bridge Financing for Arlington Industrial Property

Taylor Williams — Mon, 18 May 2026 14:09:18 +0000

ARLINGTON, TEXAS — Local financial intermediary Foss Real Estate Partners has arranged $7 million in bridge financing for Oakhollow Business Park, an 84,469-square-foot industrial property in Arlington. According to a property brochure on LoopNet Inc., Oakhollow Business Park was built on a 5.5-acre site in 1984 and renovated in 2020. The loan was structured with a 70 percent loan-to-cost ratio and a fixed interest rate of 6.5 percent. The borrower and direct lender were not disclosed.

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Silicon Valley Initiative Partnership Receives $74.1M in Financing for Office-to-Residential Conversion Project in San Jose

Amy Works — Mon, 18 May 2026 13:44:30 +0000

SAN JOSE, CALIF. — Silicon Valley Initiative Partnership has received $74.1 million in financing for the conversion of the historic Bank of Italy building, located at 12 S. 1st St. in downtown San Jose, into a mixed-use residential and retail property. Deutsche Bank provided the financing. Originally constructed in 1926, the 13-story office tower will be transformed into a 126,000-square-foot multifamily and commercial space. The residential portion will feature 109 studio, one- and two-bedroom, market-rate apartments complemented by a fitness center, lounge and an outdoor terrace. Dave Karson, Chris Moyer, Alex Lapidus and Chris Meloni of Cushman & Wakefield arranged the financing on behalf of of the borrower.

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Dermot Co. Receives $355M Loan for Refinancing of Upper Manhattan Apartment Tower

Taylor Williams — Mon, 18 May 2026 13:36:22 +0000

NEW YORK CITY — The Dermot Co., a locally based owner-operator, has received a $355 million loan for the refinancing of 21 West End Avenue, a 616-unit apartment tower on Manhattan’s Upper West Side. Dermot completed the 48-story building, which includes 127 affordable housing units, in 2016. Residences come in studio, one-, two- and three-bedroom floor plans, and amenities include an indoor pool, fitness center, resident lounge, game room, rooftop terrace, children’s playroom and a pet run. Mizuho Americas provided the financing, specific terms of which were not disclosed.

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Walker & Dunlop Provides $53.7M Agency Refinancing for Student Housing Community in Daytona Beach

John Nelson — Thu, 14 May 2026 13:48:23 +0000

DAYTONA BEACH, FLA. — Walker & Dunlop has provided a $53.7 million Freddie Mac loan for the refinancing of OnShore, a 636-bed student housing community located near Embry-Riddle Aeronautical University in Daytona Beach. Delivered in 2020, the community offers 210 units alongside shared amenities including a fitness center, study areas, an infinity pool and a flight simulator. Will Baker, Mike Shropshire, William Shell and Doug McDaniel of Walker & Dunlop originated the seven-year, floating-rate loan with a four-year interest-only period on behalf of the borrower, a partnership between L3 Campus and Aureon Partners. Austin Kinn of TSB Capital Advisors also consulted on the transaction on behalf of the borrower.

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MCEC Closes $43M C-PACE Loan for Marriott Downtown Frederick Hotel in Maryland

John Nelson — Thu, 14 May 2026 13:46:49 +0000

FREDERICK, MD. — The Maryland Clean Energy Center (MCEC) has closed a $43 million loan for the development of the Marriott Downtown Frederick at Carroll Creek, a 204-room hotel underway in downtown Frederick. The Maryland Property Assessed Clean Energy (MDPACE) transaction represents the largest C-PACE loan in Maryland to date, according to MCEC, which is the administrator of the MDPACE program. Nuveen Green Capital provided the 30-year, fixed-rate financing on behalf of the locally based developer, Plamondon Hospitality Partners. The C-PACE financing will fund sustainable initiatives at the property including advanced insulation, roofing, windows, HVAC systems, LED lighting, low-flow water fixtures and hot water systems. The Marriott Downtown Frederick at Carroll Creek will be situated on 2.2 acres at 20 S. Carroll St. and feature more than 20,000 square feet of conference and event space, including a rooftop terrace and flexible indoor-outdoor venues. The hotel will also have two restaurants (one creekside and one rooftop bar and restaurant), a lobby bar and a coffee shop and market. The hotel’s target opening date was not released.

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Oak Street Capital Arranges $15M Construction Loan for Mixed-Use Project in Taylor, Texas

Taylor Williams — Thu, 14 May 2026 13:41:12 +0000

TAYLOR, TEXAS — Oak Street Capital, an Austin-based financial intermediary, has arranged a $15 million construction loan for a mixed-use project that will be located in the Central Texas city of Taylor. The site is located along Second Street, and the project will be an 82-unit condo and retail development. Brian Hampton led the Oak Street Capital team on the debt placement. The lender was First Bank of The Southwest, and the borrower was Metropolitan Development Co. A groundbreaking ceremony took place on March 25.

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SF Capital Group Arranges $32M Acquisition Loan for Michigan Multifamily Property

Kristin Harlow — Thu, 14 May 2026 13:09:46 +0000

SHELBY TOWNSHIP, MICH. — SF Capital Group has arranged a $32 million loan for the acquisition of a 368-unit multifamily property in Shelby Township. Ryan Denomme of SF Capital arranged the nonrecourse bridge loan, which features three years of interest-only payments and future funding commitments. The undisclosed borrower plans to execute a property improvement and unit renovation plan.

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Elevate Development Receives $116M in Financing for Student Housing Project Near Texas State University

Taylor Williams — Wed, 13 May 2026 15:09:41 +0000

SAN MARCOS, TEXAS — Elevate Development Partners has received $116 million in acquisition and construction financing for the development of a 759-bed student housing community near Texas State University in San Marcos. The 260-unit project is being developed in partnership with Flintco. S3 Capital provided financing for the development, which will span 280,124 square feet. Shared amenities are set to include a social lounge, bicycle room, package room, resort-style pool, yoga and wellness room, fitness center, study lounges and conference rooms. Preiss has been tapped to manage the community upon completion. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Dustin Stolly of Walker & Dunlop arranged the financing on behalf of the developer.

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Kennedy Funding Provides $4.4M Loan for Refinancing of Residential Development Site in Spicewood, Texas

Taylor Williams — Wed, 13 May 2026 14:41:59 +0000

SPICEWOOD, TEXAS — Kennedy Funding, a New Jersey-based direct lender, has provided a $4.4 million loan for the refinancing of a 38.8-acre residential development site in the Central Texas city of Spicewood. The site consists of six adjoining parcels, and the undisclosed borrower will use the loan proceeds to access capital to support the next stage of the project, details of which were not disclosed. Edwin Urrego led the Kennedy Funding team in the transaction.

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Newmark Negotiates Sale, Financing of 404-Unit Village at Iron Blossom Multifamily Property in South Reno

Amy Works — Wed, 13 May 2026 13:35:23 +0000

SOUTH RENO, NEV. — Newmark has directed the sale and financing of Village at Iron Blossom, an apartment community in South Reno. Details of the sales price and financing were not released. Jonathan Merhaut led the Newmark team that represented the undisclosed seller. Located at 690 E. Patriot Blvd., Village at Iron Blossom features 404 apartments. Built in 1984, the property has remained under the same ownership for the past decade and has benefited from significant capital improvements, including an estimated $12 million reinvested by the owner to maintain the property’s standing as a market-leading Class B community, according to Newmark.

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Gantry Secures $22M Refinancing for Single-Tenant Industrial Building in Phoenix

Amy Works — Wed, 13 May 2026 13:34:06 +0000

PHOENIX — Gantry has secured a $22 million permanent loan to refinance maturing debt on a single-tenant industrial building located at 6600 W. Latham St. in Phoenix. Situated on 23.3 acres, the 437,000-square-foot property is currently used as both a showroom and warehouse facility for Living Spaces. Tim Storey and Chad Metzger of Gantry’s Phoenix production office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was provided by a life company lender from Gantry’s exclusive network of correspondents and affiliates, featuring a full-term interest-only payment schedule.

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Madison Capital Group Arranges $21.2M in Financing for Detroit Single-Family Rental Portfolio

Kristin Harlow — Wed, 13 May 2026 13:29:02 +0000

DETROIT — Madison Capital Group has arranged $21.2 million in permanent senior debt financing for a 266-home single-family rental portfolio throughout metro Detroit. Detroit Renaissance Funds owns and operates the portfolio. Madison Capital is also an equity investor in the portfolio, which consists of a mix of renovated single-family homes and duplex/multiplex residences primarily with three- and four-bedroom units. A significant portion of the units are supported by Section 8 programs. At present, the portfolio is more than 96 percent occupied.

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Berkadia Arranges $37M Construction Loan for Apartment Development in Palm Bay, Florida

John Nelson — Wed, 13 May 2026 12:05:00 +0000

PALM BAY, FLA. — Berkadia has secured a $37 million construction bridge loan to finance Astor Pointe, a 171-unit, garden-style multifamily community underway at 3400 Wedgewood Drive NE in Palm Bay. Scott Wadler, Patrick Johnson, Mitch Sinberg, Matt Robbins and Brad Williamson of Berkadia arranged the 24-month loan through RMWC on behalf of the borrower, Miami-based Midtown Capital Partners. The developer will use proceeds of the floating-rate loan to retire the existing construction debt and fund remaining completion costs as Astor Pointe delivers and stabilizes. The waterfront property will feature a mix of one-, two- and three-bedroom residences averaging approximately 870 square feet in size. Amenities will include a resort-style pool, clubhouse, fitness center, outdoor entertainment areas, dog park and spa, game room and a coffee bar.

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GreenRock Capital, J.P. Morgan Close $103M in Financing for Ontario Airport Hotel and Conference Center in California

Amy Works — Tue, 12 May 2026 14:02:40 +0000

ONTARIO, CALIF. — GreenRock Capital, with J.P. Morgan as underwriter, has closed $103 million in financing for the Ontario Airport Hotel and Conference Center in Ontario. The $103 million package pairs $26 million in tax-exempt C-PACE bonds with $77 million in tax-exempt mortgage revenue bonds. The financing was placed with municipal bond investors. National CORE owns the asset, which is being converted into the Hyatt Regency Ontario through a comprehensive renovation and repositioning process. Financing proceeds will support the redevelopment of the existing 309-room hotel into a 295-room Hyatt Regency. The new property will feature expanded suites, fully renovated guest rooms and commons area, a redesigned lobby, upgraded food-and-beverage offerings, a new Club Lounge and more than 16,000 square feet of meeting space. Keaton Yellin of JLL Capital Markets arranged the financing. Fred Schuster of FGS Realty Advisors assisted the sponsor with the transaction.

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PCCP Provides $78M Refinancing for Multifamily Property in Denver

Amy Works — Tue, 12 May 2026 14:00:43 +0000

DENVER — PCCP has provided a $78 million loan to Trammell Crow Residential for the refinancing of Alexan Evans Station in Denver. The 367-unit property, located at 2121 S. Broadway, was built in 2023 and is LEED Gold-certified. The community offers a mix of studio, one-, two- and three-bedroom units and 7,334 square feet of ground-floor retail space leased to F45, SweatHouz and Pacific Dental Services. Amenities include a pool and hot tub with cabanas, a fitness center, coworking spaces and a conference center, electric vehicle charging and an onsite convenience market.

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MMCC Arranges $3.3M Acquisition Loan for Michigan Multifamily Property

Kristin Harlow — Tue, 12 May 2026 13:54:44 +0000

MOUNT CLEMENS, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.3 million loan for the acquisition of Hubbard Oaks, a 60-unit multifamily property in Mount Clemens, about 25 miles north of Detroit. Luke Lamoreaux of MMCC secured the five-year, fixed-rate loan through a local bank on behalf of the private client. The property features a mix of one- and two-bedroom units.

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MBA: Commercial, Multifamily Borrowing Increased 52 Percent in First-Quarter 2026

John Nelson — Tue, 12 May 2026 11:45:00 +0000

WASHINGTON, D.C. — Commercial and multifamily mortgage loan originations were 52 percent higher in the first quarter of 2026 compared to first-quarter 2025, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. First-quarter production falls in line with the organization’s 2026 forecast made in February that commercial and multifamily loan originations this year would increase by 27 percent compared to 2025. Among capital sources, the dollar volume of loans originated for investor-driven lenders increased by 133 percent year-over-year in the first quarter. There was also an 80 percent increase in loans for depositories (i.e. banks and credit unions); a 38 percent increase in government-sponsored enterprises (i.e. Fannie Mae and Freddie Mac); and a 9 percent increase in life company loans. There was also a14 percent decline in commercial mortgage-backed securities (CMBS) loans compared to a year ago. “The most notable increase was the 80 percent rise in depository lending, driven in part by the large volume of bank-held loans maturing this year and the need to refinance those positions,” says Reggie Booker, MBA’s associate vice president of commercial research. “The slowdown [from fourth-quarter 2025] is consistent with typical first-quarter seasonality and does not detract from…

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