Friday, June 13, 2025
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IndianaLoansMidwestOffice

Maverick Commercial Mortgage Arranges $2.4M Loan for Refinancing of Indianapolis Office Building

by Kristin Harlow

INDIANAPOLIS — Maverick Commercial Mortgage Inc. has arranged a $2.4 million loan for the refinancing of a 30,000-square-foot office building in downtown Indianapolis. The property is 97 percent leased to 30 tenants. Originally constructed in 1911, the building was renovated in 2006 with restored original woodwork, tile work and terrazzo flooring. A Midwest lending institution provided the five-year, fixed-rate loan on behalf of the Indianapolis-based buyer. Proceeds of the loan were used to retire the acquisition financing and for a partner buyout.

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Alexan-West-End-Long-Beach-CA
CaliforniaDevelopmentLoansMultifamilyTop StoriesWestern

R&V Management, TCR Receive $200M in Financing for Alexan West End Apartment Development in Long Beach, California

by Amy Works

LONG BEACH, CALIF. — R&V Management and Trammell Crow Residential (TCR) have obtained $200 million in financing for the development of Alexan West End, a multifamily community in downtown Long Beach, approximately 20 miles south of Los Angeles. The financing package includes a $166 million construction loan from Kennedy Wilson and a $34 million mezzanine loan from an unnamed national life insurance company. Located at 600 W. Broadway, Alexan West End will feature 600 apartments spread across four seven- or eight-story buildings. The community will offer a mix of studios, one-, two- and three-bedroom floor plans, averaging 767 square feet. Initial plans call for first units to be ready for occupancy by May 2026, with final completion planned for March 2027. Community amenities will include multiple club lounges equipped with gourmet kitchens; coffee lounges; an indoor and outdoor fitness center; resort-style pool and spa; sky deck with various entertainment areas; and a pet spa with a grooming station. Alexan West End will be situated on a 5.6-acre site adjacent to the Hilton Long Beach hotel and One World Trade Center. Other nearby attractions include the Los Angeles River, Port of Long Beach, Queensway Bay and Santa Cruz Park. Bill Chiles, …

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AI Jeff Salladin Predictive Analytics
AcquisitionsContent PartnerFeaturesLoansMidwestNortheastSoutheastTexasWestern

Finance Companies Look to Artificial Intelligence Applications in Predictive Analytics, Due Diligence, Modeling

by Sarah Daniels

The emergence of generative artificial intelligence (AI) promises to greatly expand the property industry’s reach and abilities. Generative AI can offer suggestions, compile reports and create various types of content, ranging from video to software code. In the commercial real estate world, generative AI has the potential to harness myriad information to help owners, managers, lenders and investors assess portfolio performance, uncover operating risks and identify opportunities, among other activities, says Jeff Salladin, a managing director with Dallas-based private debt fund Revere Capital. But companies need to begin preparing for it now, he adds. “Commercial real estate can be slow to change — it wasn’t that long ago that mortgage brokers were sending us deals via overnight mail,” observes Salladin. “But whether they’re analysts or leadership teams, someone in your shop should be dipping their toe in the water and testing out AI.” Salladin also points out the need to proceed cautiously with this new technology as it evolves. Humans with expertise need to review what AI generates for the commercial real estate field. AI can narrow the focus of many tasks but cannot substitute for human reviewers or the human ability to critically apply information gleaned. AI Benefits Salladin …

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GeorgiaLoansOfficeSoutheast

Vision Properties Secures Refinancing for 692,707 SF Wildwood Center Office Building in Atlanta

by John Nelson

ATLANTA — Vision Properties has secured refinancing for Wildwood Center, a 692,707-square-foot office building located in northwest Atlanta’s Cumberland-Galleria office submarket. The property features flexible floor plates across 11 stories, and the ownership has implemented improvements including the addition of a new tenant lounge, conference center and atrium and outdoor seating areas. Amenities at the building also include a fitness center. Vision Properties is currently underway on the development of an additional 25,000 square feet of space on the property’s top floor, which is scheduled for delivery this year. David Horne, Glenn Aspinwall and Alexis Easterling of JLL handle leasing at the building, which has recently seen 262,680 square feet of lease transactions in the form of both new leases and renewals. The loan amount and further details of the refinancing were not disclosed.

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DevelopmentLoansMultifamilyNorth CarolinaSoutheast

Thorofare Provides $30M Construction Financing for Multifamily Development in Charlotte

by John Nelson

CHARLOTTE, N.C. — Thorofare Capital has provided a $30 million loan to Grubb Properties for the construction and lease-up of Link NoDa Phase II, a 242-unit multifamily project in Charlotte. Upon completion, the development will feature 146,652 square feet of rentable space within a six-story building. Amenities at the property, independent from those at Phase I of the community, will include a clubhouse, pool, courtyards with fire pits, grilling stations, a 24-hour fitness center, cycle room, yoga studio, pet spa, dog run, conference room, meeting center and coworking space.

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IndustrialLoansNew YorkNortheast

Largo Capital Arranges $12.1M Loan for Refinancing of Warehouse Near Buffalo

by Taylor Williams

TONAWANDA, N.Y. — Locally based financial intermediary Largo Capital has arranged a $12.1 million loan for the refinancing of a 307,000-square-foot warehouse located just outside of Buffalo in Tonawanda. The building, which features a clear height of 36 feet, 28 dock-high doors and two drive-in doors, was fully leased at the time of the loan closing. Jack Phillips of Largo Capital arranged the loan on behalf of the undisclosed borrower. The name of the direct lender was also not disclosed.

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DevelopmentLoansMidwestMultifamilyWisconsin

PACE Loan Group Provides $8M in C-PACE Financing for Luxury Apartment Project in Eau Claire, Wisconsin

by Kristin Harlow

EAU CLAIRE, WIS. — PACE Loan Group has provided $8 million in C-PACE financing for The Washington, a 200-unit luxury apartment project to be built in Eau Claire, a city in western Wisconsin. The financing fills out the $41 million capital stack, which includes $20 million in debt and $13 million in equity. The three-building project will comprise a former managed care facility and two new ground-up buildings. The 10-acre site is located within two miles of the University of Wisconsin-Eau Claire and numerous healthcare facilities. The former managed care facility, which originally opened in 1937, will house amenities including a 2,000-square-foot commercial space on the first floor, rooftop deck, fitness center, clubroom, coworking space, media room, yoga studio, outdoor heated pool, dog park and dog washing station. It will also include 53 multifamily units. One of the new buildings will consist of 87 units; the other will feature 60 units. Both will have fitness centers, clubrooms, media rooms and underground parking. Construction will begin shortly and is slated for completion by September 2025. The PACE proceeds will be used to finance energy conservation and renewable energy measures. Qualifying projects include building envelope, Energy Star windows, high-efficiency HVAC, domestic hot …

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Affordable HousingIllinoisLoansMidwestMultifamily

Colliers Mortgage Originates $7.8M Loan for Refinancing of 72-Unit Affordable Housing Property in Chicago

by Kristin Harlow

CHICAGO — Colliers Mortgage has originated a $7.8 million Fannie Mae loan for the refinancing of Southeast Englewood and South Wabash in Chicago. The 72-unit, scattered site affordable housing property consists of six three-story buildings with garden-level basements. The buildings are situated on six parcels, three of which are non-contiguous. All of the units are restricted to low-income tenants by a HUD Section 8 HAP contract. Les Hardin of Colliers Mortgage structured the loan, which features a 10-year term. LSG Lending Advisors arranged the loan.

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Addison-Innovation-Center
IndustrialLoansTexas

JLL Arranges Construction Financing for Industrial Redevelopment Project in Addison, Texas

by Taylor Williams

ADDISON, TEXAS — JLL has arranged an undisclosed amount of construction financing for Addison Innovation Center, an industrial redevelopment project that will be located on north of downtown Dallas. The project will convert the 12.2-acre site of an existing office and call center complex into two warehouses totaling 242,062 square feet. The buildings, which will span 140,698 and 101,364 square feet, will be able to accommodate a single tenant or multiple users. First United Bank & Trust Co. provided the five-year, floating-rate loan to the borrower, a partnership between Houston-based Lovett Industrial and Dallas-based Rosewood Property Co. Jarrod McCabe led the transaction for JLL.

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CaliforniaLoansOfficeTop StoriesWestern

Worthe Real Estate, Stockbridge Receive $475M Refinancing for Warner Bros. Office Complex in Burbank, California

by Jeff Shaw

BURBANK, CALIF. — Worthe Real Estate Group (Worthe) and Stockbridge have received a $475 million, fixed-rate, securitized mortgage to refinance debt on Second Century. The 800,000-square-foot office complex is located in the Media District neighborhood of Burbank, a suburb north of Los Angeles that serves as a television studio hub. Worthe and Stockbridge completed the development of the Frank Gehry-designed Second Century in May 2023. The complex consists of two buildings located within The Burbank Studios lot. Warner Bros. fully occupies the property. According to the city of Burbank, the first building comprises 355,000 square feet across seven stories. The second building rises nine stories and totals 445,000 square feet. The loan was securitized as a single-asset, single-borrower CMBS transaction, led by Wells Fargo and Morgan Stanley. Eastdil Secured served as exclusive advisor to Worthe and Stockbridge on the transaction. Further details on the loan were not disclosed. “This successful financing underscores our vision for Second Century and the growing demand in the entertainment industry for sustainable, state-of-the-art and vibrant office space,” says Jeff Worthe, president of Worthe. The Burbank Studios is a television production facility that also houses the iHeartRadio Theatre performance venue. The facility is situated across the street from Johnny Carson Park. Second Century …

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