Loans

KS Group, Alma Realty Receive $300M Construction Financing for Multifamily Project in Queens

by Hayden Spiess March 27, 2025

NEW YORK CITY — KS Group and Alma Realty Corp. have received a $300 million construction loan for the development of a mixed-use multifamily project on the East River in the Astoria neighborhood of Queens in New York City. S3 Capital provided the financing. Henry Bodek of Galaxy Capital secured the loan on behalf of KS Group and Alma Realty, two multifamily developers based in Newark and Long Island City, respectively. Upon completion, the development will comprise a 26-story tower and three mid-rise buildings totaling 731 residential units. The development will include affordable housing units with the support of a 421a tax abatement, which provides a period of exemption from real estate taxes to projects that meet specific criteria and include a required percentage of affordable housing. The properties will also feature ground-floor retail space and parking. Amenities will include a rooftop pool with a landscaped roof deck, fitness center, golf simulator, children’s playroom, indoor and outdoor theaters and a business center. The development marks Phase I of a larger, multi-phased project dubbed Astoria Cove, which will be located at 8-01, 4-34 and 5-57 26th Ave. in Queens. YNH Construction will serve as general contractor on the project. Construction is …

March 27, 2025

California Loans Multifamily Western

Phoenix Development Co. Receives $27.8M in Refinancing for Pullman Modern Urban Apartments in Santa Rosa, California

by Amy Works March 26, 2025

SANTA ROSA, CALIF. — Phoenix Development Co. has received $27.8 million in refinancing for Pullman Modern Urban Apartments, a newly constructed multifamily community in Santa Rosa. Gary Mozer of IPA Capital Markets, a division of Marcus & Millichap, secured the 36-month, floating-rate nonrecourse loan, which features interest-only payments for the full term, on behalf of the borrower. Pullman Modern Urban Apartments offers 114 apartments spread across three residential buildings at 725 Wilson St., 755 Wilson St. and 85 8th St. The project is currently in lease-up with stabilization estimated toward the end of 2025.

March 26, 2025

MM-Loan-Retail-Center-Rancho-Cucamonga-CA

California Loans Retail Western

Marcus & Millichap Arranges $19M Refinancing for Retail Center in Rancho Cucamonga, California

by Amy Works March 26, 2025

RANCHO CUCAMONGA, CALIF. — Marcus & Millichap has arranged a $19 million loan through its affiliate, BA Debt Fund LLC, to refinance a shopping center located in Rancho Cucamonga. Bolour Associates provided the loan. The 106,000-square-foot property, which was 99 percent leased at the time of financing, is anchored by a Smart & Final grocery store. Preston Davey of Marcus & Millichap arranged the loan on behalf of the borrower.

March 26, 2025

Loans Multifamily Student Housing Texas

Seven Hills Realty Provides $18.5M Loan for Refinancing of Student Housing Property Near Baylor University

by Taylor Williams March 25, 2025

WACO, TEXAS — Seven Hills Realty Trust (NASDAQ: SEVN), an affiliate of Boston-based investment firm RMR Group, has provided an $18.5 million bridge loan for the refinancing of LL Sams, a 271-bed student housing building that serves students at Baylor University in Waco. The building is adjacent to campus and houses one-, two-, three-, four- and five-bedroom floor plans. Amenities include a pool, fitness studio, resident clubhouse, package lockers and private study pods. JLL arranged the three-year loan on behalf of the borrower, California-based Shore to Shore Properties.

March 25, 2025

Mi-Place-at-Brightmoor-Sicklerville-New-Jersey

Loans New Jersey Northeast

Dwight Mortgage Trust Provides $34M Loan for Refinancing of Southern New Jersey Multifamily Complex

by Taylor Williams March 25, 2025

SICKLERVILLE, N.J. — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $34 million bridge loan for the refinancing of Mi-Place at Brightmoor, the 168-unit second phase of a 312-unit apartment community located in the Southern New Jersey community of Sicklerville. The property offers 63 one-bedroom units, 84 two-bedroom apartments and 21 three-bedroom residences that are furnished with stainless steel appliances, quartz countertops, individual washer and dryers and private balconies/patios. Amenities include a clubhouse, pool, fitness center, game room, community lounge, dog washing area and a playground. The borrower is Fernmoor Homes.

March 25, 2025

Affordable Housing Loans Midwest Minnesota Multifamily

BWE Arranges $39M for Refinancing of Affordable Housing Portfolio in Metro Twin Cities

by Kristin Harlow March 25, 2025

NEW HOPE, BLOOMINGTON AND ST. PAUL, MINN. — BWE has arranged $39 million in loans to refinance a portfolio of six affordable housing properties in New Hope, Bloomington and St. Paul. The properties total 529 units, with 100 percent of the units reserved for tenants earning up to 60 percent of the area median income. Victor Agusta Jr. of BWE originated the Freddie Mac loans on behalf of Aeon, a Twin Cities-based nonprofit that builds affordable housing. The communities include Bass Lake Crossing and Kings Manor in New Hope; Cedar Gate, Cedar Glen and Metropolitan Towers in Bloomington; and Larpenteur Villa in St. Paul.

March 25, 2025

Build-to-Rent Development Illinois Loans Midwest Single-Family Rental

JLL Secures $55.6M in Financing for Build-to-Rent Development in Deerfield, Illinois

by Kristin Harlow March 24, 2025

DEERFIELD, ILL. — JLL Capital Markets has secured a $45.7 million construction loan and a $9.9 million mezzanine loan for Park5 Luxury Rental Townhomes, a 144-unit build-to-rent community in the northern Chicago suburb of Deerfield. Located just west of I-94, Park5 will feature two- and three-bedroom townhomes averaging 1,953 square feet with two-car attached garages and private yards. Matthew Schoenfeldt and Mary Dooley of JLL secured the senior construction loan through Bank OZK and the mezzanine financing through an insurance company on behalf of the borrower, VennPoint Real Estate. Dan Reynolds and Chris Cummins of JLL consulted on selling the land for $10.2 million on behalf of the seller, Quadrangle.

March 24, 2025

Illinois Industrial Loans Midwest

IPA Arranges Loan for Refinancing of 508,088 SF Industrial Portfolio in Alsip, Illinois

by Kristin Harlow March 24, 2025

ALSIP, ILL. — IPA Capital Markets has arranged the refinancing of a two-building industrial portfolio totaling 508,088 square feet in Alsip. The properties are leased to Crown Cork & Seal Co., a subsidiary of Crown Holdings Inc., a designer and manufacturer of steel and aluminum cans. The building at 5555 W. 115th St. serves as the manufacturing site, while the facility at 11535 S. Central Ave. functions as the shipping and receiving site. Frank Montalto and Ethan Splan of IPA arranged the financing through a local credit union on behalf of the borrower, a national investment company. The fixed-rate, nonrecourse loan features a 6.31 percent interest rate, 30-year amortization schedule and 65 percent loan-to-value ratio.

March 24, 2025

Industrial Loans New Jersey Northeast

G.S. Wilcox & Co. Arranges $15M in Financing for Secaucus Industrial Property

by Taylor Williams March 24, 2025

SECAUCUS, N.J. — New Jersey-based financial intermediary G.S. Wilcox & Co. has arranged $15 million in financing for a 100,000-square-foot industrial property located just outside of New York City in Secaucus. The facility was fully leased at the time of the loan closing to a tenant that provides screen printing and labeling services to the apparel industry. Bridget Wilcox of G.S. Wilcox originated the debt. The direct lender and borrower were not disclosed.

March 24, 2025

Development Florida Industrial Loans Southeast

CBRE Arranges $45M Construction Loan for Industrial Development in Fort Myers, Florida

by John Nelson March 21, 2025

FORT MEYERS, FLA. — CBRE has arranged a $45 million construction loan for the development of Oriole Logistics, a 442,000-square-foot industrial project in Fort Myers. Billy Mork, Joel Torborg and Mike Vannelli of CBRE Capital Markets’ Debt & Structured Finance team in Minneapolis secured the loan on behalf of the owner and developer, Capital Partners. Situated at 16815 Oriole Road, the property is near Southwest Florida International Airport, which in its second phase of a three-year, $1 billion terminal expansion. The Oriole Logistics project will comprise one 136,000-square-foot building and two buildings spanning 153,000 square feet each, according to the Business Observer. Upon completion, the three-building portfolio will feature 84 dock doors, 28 to 32-foot clear heights and a 580-space parking lot. Construction for the project is slated to break ground in April. Oriole Logistics marks the third industrial development for Capital Partners in South Florida since 2023.

March 21, 2025

Newer Posts

Older Posts