BETHESDA, MD. — Walker & Dunlop has provided a $156.6 million Fannie Mae loan for the refinancing of a five-property, 1,351-unit multifamily portfolio in the Sun Belt. Allan Edelson and Joe Tarantino of Walker & Dunlop originated the loan on behalf of the borrower, Boston Capital Real Estate Partners. The names and addresses of the properties were not disclosed, but the portfolio includes assets in North Carolina and Texas.
MOUNTAIN VILLAGE, COLO. — Merrimac Ventures and Fort Partners have broken ground on the $1 billion Four Seasons Resort and Residences Telluride and closed on a construction financing package for the project. Slated for completion in 2028, construction is underway and more than 30 percent of the property’s inventory is already sold. Situated on 4.4 acres in Mountain Village, the project is backed by the successful closing on the land and a $417 million construction loan from J.P. Morgan, with additional financing from CanAm Enterprises. Merrimac and Fort Partners worked with the Town of Mountain Village, Telluride Ski and Golf and TMVOA to secure the land and bring the project to life. The development will feature 26 private residences ranging from two to five bedrooms, 43 hotel residences ranging from one to four bedrooms and 52 hotel guest rooms. Residences will offer floor-to-ceiling windows, terraces and in-home oxygenation systems. Penthouses will offer private terraces and outdoor spa pools. Resort amenities will include ski-in/ski-out access, ski valet and private lockers, a fitness center, spa and recovery center, an indoor lap pool, an outdoor hot tub, underground parking and a private residents’ club. The project team includes Olson Kundig as architect and Clements …
BUFORD AND KENNESAW, GA. — Walker & Dunlop (NYSE: WD) has arranged the sale of and provided Freddie Mac acquisition financing for Town Laurel Crossing and Manor Barrett, two apartment communities in the metro Atlanta area totaling 707 units. The transactions represent a total of $352.8 million in capital movement and placement. The name of the borrower, a private multifamily owner-operator, was not disclosed. Both properties are currently listed under rebranded names on the website of Denver-based Mission Rock Residential, which provides third-party management services for the assets. The properties were both built in 2024. Chris Goldsmith, Telly Fathaly and Cameron Dunn of Walker & Dunlop represented the seller, Related Group, in both transactions. Mary Stuart Hurst and Fletcher Dunn of Walker & Dunlop led the debt origination efforts on behalf of the new owner. Town Laurel Crossing is a 360-unit community located within the Exchange at Gwinnett shopping district in Buford, a northeastern suburb of Atlanta. According to Apartments.com, the property offers one-, two- and three-bedroom units that range in size from 752 to 1,550 square feet. Amenities include a pool, fitness center, lounge, clubhouse, dog park and outdoor grilling and dining stations. Manor Barrett is a 347-unit community …
MCKINNEY, TEXAS — Greystone has provided a $19.8 million Fannie Mae loan for the refinancing of Legacy on Rockhill, a 128-unit build-to-rent property in McKinney, located north of Dallas. Built on 13.2 acres in 2023, Legacy on Rockhill offers one-, two- and three-bedroom single-family and duplex-style homes with private backyards. Amenities include a pool, fitness center, dog park and a bocce ball court. John Sloot of Greystone originated the debt. The borrower was not disclosed. The property was 94 percent occupied at closing.
PLANO, TEXAS — PACE Equity and Lone Star PACE have provided $2.4 million in C-PACE financing for the renovation of Independence Medical Center, a 57,000-square-foot medical office building located north of Dallas in Plano. Planned upgrades include a replacement of HVAC systems, modernization of common areas and the installation of 56 covered parking spaces with solar-paneled rooftops. The property owner was not disclosed.
WARREN, PA. — Cushman & Wakefield has arranged $25.2 million in financing for an 853,611-square-foot industrial property in Warren, located north of Pittsburgh. According to LoopNet Inc., the complex at 100-200 Murray Drive consists of two buildings that span 304,642 and 548,969 square feet. Building features include clear heights of up to 70 feet and 59 total dock doors. Brad Domenico, Frank Stanislaski and Ethan Thompson of Cushman & Wakefield arranged the debt on behalf of the borrower, private investor Yisroel Cherns. The direct lender was not disclosed. The property was 83 percent leased at the time of sale to tenants such as Cummins Inc., Whirley Industries and USA Medical Supplies.
HOMESTEAD, FLA. — Marcus & Millichap Capital Corp. (MMCC) has secured $14.5 million in construction financing for the development of a 1,038-unit self-storage facility at 1995 N.E. 8th St. in Homestead, about 32 miles south of Miami. The 135,800-square-foot property will operate as an Extra Space Storage facility. Robert Bhat of MMCC’s Miami office arranged the five-year loan through a local bank on behalf of the borrower, an undisclosed self-storage developer. The loan features a floating interest rate underwritten as 250 basis points above 1-month SOFR for the first three years with 36 months of interest-only payments.
ROCKLIN, CALIF. — JLL Capital Markets, on behalf of Blue Coast Capital, has arranged a $27 million construction loan for Whitney Ranch Retail Center, a to-be-built, 52,200-square-foot neighborhood retail center in the Whitney Ranch community of Rocklin. The three-year construction loan was secured with U.S. Bank. Slated for completion in 2026, Whitney Ranch Retail Center will include 35,000 square feet of inline and standalone retail, as well as five ground-leased pad sites totaling 17,200 square feet. The property will be shadow anchored by Nugget Markets, an upscale supermarket chain with 16 locations across Northern California.
OSWEGO, ILL. — Lynd Development Group, a division of The Lynd Group, has received a $64 million loan from Starwood Capital to refinance Home at Ashcroft, a 178-unit, luxury build-to-rent community in the western Chicago suburb of Oswego. The new financing replaces a $66 million construction loan provided by Delaware Life and Steeprock Capital. Construction began in 2022 and is now complete. The property is more than 82 percent occupied. Home at Ashcroft features three-bedroom, single-story homes averaging 1,775 square feet. Each residence includes a two-car garage and covered patio. Monthly rents range from $2,800 to $4,000. Amenities include a clubhouse, pool, fitness center, game room, private library, grilling stations, dog park and landscaped walking trail.
PATCHOGUE, N.Y. — PGIM has provided a $19.2 million mezzanine loan for the construction of Carriage House, a 262-unit multifamily project that will be located in the Long Island community of Patchogue. Carriage House will be a two-building development in which 20 percent of the units will be reserved as affordable housing. Information on floor plans and amenities was not disclosed. The development will also include the construction of a 30,000-square-foot riverwalk and park area. The borrower is a partnership between Asia Capital Real Estate and Nord Development.