Saturday, June 28, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Loans

DevelopmentLoansMultifamilySoutheastTennessee

Knighthead Funding Originates $22M Refinancing for Luna Apartments in Nashville

by John Nelson

NASHVILLE, TENN. — Knighthead Funding has originated a $22 million loan for the refinancing of The Luna, a newly built apartment community located at 1009 8th Ave. S in Nashville’s Edgehill neighborhood, roughly two miles south of downtown. The two-year, fixed-rate loan will feature interest-only payments and be used to take out a maturing construction loan. The borrower is a joint venture led by developer CA South. Built in 2023, The Luna features 108 apartments with monthly rental rates ranging from $1,650 to $4,300, according to Apartments.com. Floor plans include studio, one-, two- and three-bedroom layouts ranging in size from 520 to 1,350 square feet. Amenities include a pool, fitness center, clubhouse, pet play area, pet washing station and a business center.

Continue Reading
FacebookTwitterLinkedinEmail
55-Juniper-Ave-Eaton-CO
Affordable HousingColoradoLoansMultifamilyWestern

Brikwell Receives $5.8M Loan for Benjamin Square Affordable Housing Community in Eaton, Colorado

by Amy Works

EATON, COLO. — Brikwell has received $5.8 million in financing for Benjamin Square, an affordable housing property in Eaton, a small town east of Fort Collins. Located at 55 Juniper Ave., Benjamin Square features 60 one-bedroom apartments spread across 10 single-story buildings. The units are all Section 8 affordable housing. Community amenities include a laundry room, community lounge and a covered gazebo/picnic area. Brock Yaffe and Tony Nargi of JLL Capital Markets Debt Advisory secured the fixed-rate senior loan through Freddie Mac Multifamily. JLL and Freddie Mac were able to craft a structure that provided the borrower time to renew and extend the Project-Based Section 8 HAP contract prior to acquisition and loan closing, preserving affordability at Benjamin Square for 20 years. JLL Real Estate Capital, a Freddie Mac Optigo lender, will service the loan.

Continue Reading
FacebookTwitterLinkedinEmail
Waldorf-Astoria-Hotel-&-Residences-Miami
DevelopmentFloridaHospitalityLoansMultifamilySoutheastTop Stories

PMG Receives $668M Construction Loan for Waldorf Astoria Hotel & Residences Miami

by Taylor Williams

MIAMI — PMG, a development and investment firm with offices in New York City and Miami, has received a $668 million construction loan for the Waldorf Astoria Hotel & Residences Miami. Located at 300 Biscayne Blvd, the building will rise more than 1,000 feet and will house 387 private residences and 205 hotel rooms and suites, as well as retail and restaurant space. The latter component will include Peacock Alley, a concept that is part of the Waldorf Astoria band. The Waldorf Astoria is part of the Hilton Hotels (NYSE: HLT) family of brands. Christopher Peck, Chris Drew, Brian Gaswirth, Jimmy Calvo and Mateo Bolivar of JLL arranged the financing through Arkansas-based Bank OZK and New York City-based Related Fund Management on behalf of PMG. According to South Florida Business Journal, condo sales launched in 2021, and the formal groundbreaking took place in 2022. At the time of the loan closing, more than 90 percent of the residences had been pre-sold. Vertical construction of the property is slated for mid-2028 completion. Hotel guests and residents will have access to a shared suite of amenities. These will include: Residents of the Waldorf Astoria Hotel & Residences Miami can also utilize a …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsLoansMultifamilyTexas

JLL Arranges Agency Acquisition Financing for 116-Unit Monticello Apartments in Fort Worth

by Jeff Shaw

FORT WORTH, TEXAS — JLL has arranged a Freddie Mac acquisition loan of an undisclosed amount for Monticello Apartments, a 116-unit multifamily complex in Fort Worth. The property consists of 22 two-story buildings that house 56 one-bedroom and 60 two-bedroom apartments. Units average 952 square feet in size and feature walk-in closets, patios or balconies, washer and dyers, stainless steel appliances and air conditioning. John Brownlee, Bo Beidleman, Blake Morrison and Aaron Craig of JLL originated the five-year, fixed-rate loan on behalf of the borrower, Price Realty.

Continue Reading
FacebookTwitterLinkedinEmail
FloridaLoansMixed-UseMultifamilySoutheast

Northmarq Arranges $88M Refinancing for New Apartment Community at Dania Pointe in South Florida

by John Nelson

DANIA BEACH, FLA. — Northmarq has arranged $88 million for the refinancing of Avery Dania East, a 336-unit apartment community located at 120 N. Compass Way in Dania Beach, about five miles south of Fort Lauderdale. Built in 2023, the property is a multifamily component within Dania Pointe, a mixed-use development by Kimco that features six hotels, 1 million square feet of retail and restaurants and more than 500,000 square feet of office space, including the new headquarters for Spirit Airlines. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq arranged the financing through BlackRock and SteepRock on behalf of the borrower, Meyers Accesso, a new partnership between The Meyers Group and Accesso. The refinancing was underwritten with a three-year term with interest-only payments for the full term. The developer received a certificate of occupancy in December 2023 for Avery Dania East, which was 45 percent occupied at the time of financing.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialLoansMidwestMinnesota

US Department of Energy Provides $213.6M Loan Guarantee for Solugen’s Manufacturing Facility in Minnesota

by Kristin Harlow

MARSHALL, MINN. — The U.S. Department of Energy Loan Programs Office has provided a $213.6 million loan guarantee to support the construction of Solugen’s Bioforge Marshall facility in Southwest Minnesota. The 500,000-square-foot facility will produce bio-based chemical products for use in wastewater treatment, industrial wastewater, construction, agriculture and the energy sector. The project is designed to reduce annual carbon emissions by up to 18 million kilograms compared with incumbent production methods. Construction began in April, and production at the facility is scheduled to begin in fall 2025. The development will create up to 100 jobs during construction and 56 full-time manufacturing jobs once fully operational.

Continue Reading
FacebookTwitterLinkedinEmail
Plaza-de-Perris_Perris-CA
CaliforniaDevelopmentLoansRetailWestern

BWE Arranges $66.5M Construction Financing for Plaza de Perris Shopping Center Expansion in Perris, California

by Amy Works

PERRIS, CALIF. — BWE has arranged $66.5 million in construction financing for a new phase of development at Plaza de Perris, a retail center located in the Inland Empire city of Perris. Upon completion, the property will span 363,582 square feet and feature a Target location. Wood Investments, the borrower and developer, purchased the center in 2017 and previously completed the addition of 118,000 square feet of retail space at the property in 2019 and 2020. Upon completion of construction, Target will join the center as a tenant. Other tenants at the center, which was 99 percent leased at the time of financing, include Ross Dress for Less, Ulta Beauty, Burlington Coat Factory, Planet Fitness and Five Below. Tom Kenny and Josh Boehling of BWE secured a $55.5 million loan through a life insurance company, as well as an $11 million joint-venture equity investment, on behalf of the borrower. 

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingLoansMidwestMultifamilyOhio

National Church Residences Receives LIHTC Financing for Two Affordable Housing Projects in Ohio

by Kristin Harlow

COLUMBUS AND MACEDONIA, OHIO — National Church Residences has received two 9 percent Low-Income Housing Tax Credits (LIHTC) awards from the Ohio Housing Finance Agency for two affordable housing projects in Ohio. Divinity Landing is a new 54-unit affordable seniors housing property to be developed in Macedonia, a suburb of Akron. The three-story property will feature a community room, exercise center, multipurpose room, outdoor patio and onsite walking paths. The Commons at Grant, an existing 100-unit permanent supportive housing community in Columbus, was originally constructed in 2002 through the 9 percent LIHTC program. The development provides affordable housing for formerly homeless, veterans and disabled individuals. The planned renovation will include upgrades to apartments and common areas, as well as a new roof and windows. Construction on both projects is slated to begin as early as spring 2025.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMixed-UseTexas

Dwight Capital Provides $58.6M HUD-Insured Loan for Amarillo Mixed-Use Property

by Taylor Williams

AMARILLO, TEXAS — New York City-based Dwight Capital has provided a $58.6 million HUD-insured loan for Residences at Town Square, a 32-acre mixed-use property in Amarillo that consists of 480 residential units and 121,360 square feet of commercial space. The residential component comprises four five-story apartment buildings, and the commercial space houses a dental office, nail bar, spa, retail merchandising and restaurant users. Daniel Malka of Dwight Capital originated the debt through HUD’s 223(f) program on behalf of the borrower, Williams Group. Daniel Hartnett of Greysteel served as the loan correspondent.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLoansMultifamilySoutheast

Berkadia Arranges $400M Construction Loan for Condo Development on Fisher Island in South Florida

by John Nelson

FISHER ISLAND, FLA. — Berkadia has arranged a $400 million construction loan for the development of The Residences at Six Fisher Island, an ultra-luxury condominium property in Miami-Dade County. The 10-story development will feature 50 for-sale condos and high-end amenities on the northeastern shoreline of Fisher Island, a barrier island east of Miami. Scott Wadler, Michael Basinski, Patrick Johnson, Mitch Sinberg, Brad Williamson and Matthew Robbins of Berkadia arranged the loan through Madison Realty Capital. The borrowers — Related Group, Teddy Sagi, BH Group and Wanxiang America RE Group — launched sales for The Residences at Six Fisher Island in late 2022, generating more than $500 million in sales to date. Two of the property’s penthouses sold earlier this year for a combined total of $150 million, with remaining inventory targeting prices north of $4,000 per square foot. The project is set to begin construction this summer, with completion slated for 2026.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts