WILMINGTON, DEL. — D2 Capital Advisors, a Philadelphia-based intermediary, has arranged a $26 million permanent loan for an 80,000-square-foot life sciences building in Wilmington. The building was completed in 2023 as part of the redevelopment of the 164-acre Chestnut Run Innovation & Science Park. The building was fully leased at the time of the loan closing to Prelude Therapeutics, which develops cancer treatment drugs. Jack Cortese, David Frankel and John Lightcap of D2 arranged the loan on behalf of the borrower, Pennsylvania-based developer MRA Group. The direct lender was not disclosed.
LOS ANGELES — Los Angeles-based Thorofare Capital has provided a $48.3 million acquisition loan for an 838,214-square-foot manufacturing facility in the Dallas-Fort Worth (DFW) area. The name and address of the property were not disclosed. The facility features 50-foot clear heights, and the undisclosed owner secured a new, 20-year lease at the time of the loan closing. The tenant was also not named. Felix Gutnikov, David Perlman, Andrew Kim and Jonathan Hart of Thorofare originated the floating-rate loan.
LOS ANGELES — Marcus & Millichap Capital Corp. (MMCC) has secured $16.8 million for the refinancing of Le Noble Apartments in Los Angeles. Terms of the 30-year loan include three years of interest-only payments at a 6.19 percent rate followed by a 30-year amortization and a 65 percent loan-to-value ratio. Dan Litman of MMCC secured the financing with a national bank on behalf of a local commercial brokerage firm that specializes in sales, leasing and management of multifamily and commercial properties located in Los Angeles County, Calif. Located at 5768 W. 3rd St., Le Noble Apartments offers 46 residences with in-unit washers/dryers. The property features elevators, balconies, a dog park, courtyard and fitness center that is currently under construction.
PLANT CITY, FLA. — NewPoint Real Estate Capital LLC has provided a $50 million loan for the refinancing of Pointe Grand Plant City, a newly built, 300-unit apartment community in the metro Tampa area. Trevor Ritter of NewPoint originated the two-year, floating-rate, interest-only bridge loan on behalf of the borrower, Hillpointe LLC. The community, which features two-bedroom units with open floor plans and smart home access, is early in its lease-up phase. Monthly rental rates at Pointe Grand Plant City range from $1,764 to $1,914, according to Apartments.com. Community amenities include a resort-style swimming pool with private cabanas, 24-hour fitness center, clubhouse with coffee and tea bar, business center with a conference room, picnic area with barbecue grills, community firepit, bark park with agility equipment and pet spa and electric vehicle charging stations.
FREEHOLD, N.J. — JLL has arranged a loan of an undisclosed amount for the refinancing of a 71,511-square-foot industrial building in the Central New Jersey community of Freehold. The multi-tenant building at 6 Paragon Way, which was fully leased at the time of the loan closing, features a clear height of 30 feet, seven dock-high doors and parking for 188 cars and 22 trailers. Michael Klein, Max Custer and Ryan Carroll of JLL arranged the five-year loan through TriState Capital Bank on behalf of the borrower, The Donato Group.
POMPANO BEACH, FLA. — Northmarq has arranged a $59 million loan for the refinancing of Old Town Square, a 281-unit midrise apartment community located at 200 N.E. 1st Ave. in Pompano Beach. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach office arranged the loan through an unnamed life insurance company on behalf of the borrower, Adache Real Estate. The bridge loan was underwritten with a three-year term, interest-only payments and extension options. Completed in 2024, Old Town Square features studio, one- and two-bedroom apartments, as well as a resort-style swimming pool, hot tub, summer kitchen with barbecue grills, gaming deck, 24/7 fitness center, sauna, coworking lab, community bicycles, onsite mini market, 24/7 property management and a dog run. The City of Pompano Beach provided a TIF financing to Adache as an economic incentive for the development of Old Town Square, according to Northmarq.
DENVER — First Stone Development has received $15.8 million in financing for the construction of The Jasper, a multifamily property at 4353 Tennyson St. in Denver. Phillip Gause and Jim Wilkins of Marcus & Millichap Capital Corp.’s Denver office secured $2 million in preferred equity and $13.8 million in debt for the borrower. The construction loan was placed with a debt fund and features a two-year term. Situated in Denver’s Berkeley neighborhood, The Jasper will offer 34 apartments and 2,700 square feet of street-level retail space.
HOUSTON — Los Angeles-based CIM Group has provided a $57.5 million loan for the refinancing of a portfolio of four industrial buildings totaling approximately 533,000 square feet in northwest Houston. The borrower was a partnership between Phoenix-based Creation Equity and PGIM Real Estate. Completed in 2024, the portfolio comprises Houston Point 290, a three-building complex, and Cypress Creek Distribution Center, a single-building development. Three of the buildings have rear-load configurations, and other features include 32-foot clear heights, drive-in doors and a total parking allocation of 593 spaces.
CHARLOTTE, N.C. — Cronheim Hotel Capital has arranged a $54 million loan for Homewood Suites by Hilton Charlotte Uptown First Ward, a 211-room hotel located at 508 N. College St. in Uptown Charlotte. Beau Williams and Drew Gilligan of Cronheim Hotel Capital arranged the financing on behalf of the borrower, Raleigh-based Concord Hospitality. The direct lender was not disclosed. According to the property website, the Homewood Suites hotel features a lobby, lounge, bar, restaurant, business center, fitness center and luggage storage. The 13-story hotel opened in 2023, according to local media outlets.
CHICAGO — Maverick Commercial Mortgage Inc. has arranged $5.6 million in financing for a three-tenant retail property in the Gold Coast neighborhood of Chicago. The 5,800-square-foot asset was fully leased at the time of the loan closing. A national lender provided the three-year, fixed-rate loan at 6.45 percent. The loan amortizes on a 25-year schedule. Chicago-based JDI Realty was the borrower.