FEDERAL WAY, WASH. — Lument has provided a $21.5 million loan for the refinancing of a seniors housing community located in Federal Way, roughly 25 miles south of Seattle. Village Green of Federal Way totals 170 units, with 136 assisted living units and 34 independent living cottages. Casey Moore of Lument arranged the HUD/FHA Section 232/223(f) loan on behalf of the borrower, a family-owned company. The loan features a fixed interest rate and 35-year term.
SANTA BARBARA, CALIF. — PSRS has arranged $9.2 million in refinancing for The Julia, a historic office building located at 924 Anacapa St. in Santa Barbara. Designed by famed architect Julia Morgan in 1926 initially as a women’s hotel, the 40,000-square-foot property was converted to office use in the 1970s. Seth Ludwick and Thomas Rudinsky of PSRS secured the loan, which features a 25-year amortizing term with rate resets every five years, through one of PSRS’ correspondent life insurance companies.
WILLOW SPRINGS, ILL. — The Lynd Group has received $66 million in refinancing for Willow Glen, a 224-unit multifamily community in Willow Springs developed by Lynd Development in partnership with West Point Builders in 2023. The refinancing repays the project’s construction loan and replaces it with a new financing package consisting of a $58 million CMBS senior loan originated by Barclays and an $8 million mezzanine loan provided by Ghisallo Capital, which retired the project’s government-backed bonds and simplified the capital stack. Willow Glen consists of 188 apartment units and 36 three-story townhomes. Amenities include a clubhouse, fitness center, pool, courtyard terrace, fireside lounge, game room, pet park and outdoor gathering spaces.
COLUMBUS, OHIO — Lument has provided a $53.1 million balance sheet loan for the refinancing and lease-up of South Bank at Quarry Trails, a 266-unit luxury apartment community built in 2025 in Columbus. Ryan Duling of Lument led the transaction on behalf of the borrower, Columbus-based Thrive Cos. The loan refinances existing construction debt, funds reserve accounts and supports the lease-up of the mid-rise property. The loan features an adjustable interest rate and interest-only payments for the two-year term. South Bank at Quarry Trails is part of a master-planned development in the Upper Arlington submarket of Columbus. Amenities include a clubhouse, saunas, outdoor pool and the Quarry Trails Metropark. Twenty percent of the units are designated as affordable housing.
HICKSVILLE, N.Y. — The Community Preservation Corp. (CPC), a nonprofit, multifamily finance company, has provided a $7.5 million construction loan for a 20-unit project in Hicksville, located on Long Island. The building will be located at 33-37 Cherry St. in the downtown area, just three blocks from the LIRR Hicksville Station, where a $300 million modernization is nearing completion. The building, which is slated for a spring 2027 delivery, will include three permanently affordable units and offer amenities such as a fitness center and a coworking lounge. The borrower is an entity doing business as Premerio Cherry LLC.
DENTON, TEXAS — Petros PACE Finance and Lone Star PACE have provided $3.6 million in C-PACE financing for a six-building, 107,000-square-foot industrial project in the North Texas city of Denton. The undisclosed sponsor will use the financing to fund the installation of an energy-efficient building envelope and lighting systems. These measures are projected to reduce the building’s energy usage by 37 percent annually.
NEW ROCHELLE, N.Y. — AANDAR Real Estate Capital, a boutique capital advisory firm based in New Jersey, has arranged the $145.3 million refinancing of The Alary, a 315-unit apartment building in New Rochelle, located north of New York City. The financing consists of a $125.8 million senior bridge loan from Greystone and a $19.5 million preferred equity investment from Forum Investment Group. Developed by Allstate Ventures and completed last year, The Alary offers studio, one- and two-bedroom units. Indoor amenities include a fitness center, coworking spaces with private pods and conference rooms, a game room with a wet bar, sports simulator, children’s playroom and a sky lounge with a full-service bar. Outside, residents have access to a rooftop area with a pool, outdoor cinema, barbecue kitchens, fire pits and a dog park. Shaya Sonnenschein and Michael Weisz led the transaction for AANDAR.
CHATTANOOGA, TENN. — Hilco Global Real Estate Capital has provided a $47.5 million loan to Urban Story Ventures to support the recapitalization and continued development of The Bend, a 100-acre mixed-use development underway in Chattanooga. Plans for the project, which will feature more than 3,000 linear feet of frontage along a bend of the Tennessee River, include approximately 1,700 residential units; 1.1 million square feet of office space; 1.2 million square feet of dining, shops and service retailers; 600 hotel rooms; entertainment and cultural venues; and a 300-slip marina. The Bend will be supported by public infrastructure investment through a public-private partnership structure between Urban Story Ventures and The City of Chattanooga. Jimmy White, president of Urban Story Ventures, says that the development has nearly $1 billion in potential investments in the works. The construction timeline for the project was not released.
BELLEVILLE, N.J. — CBRE has provided a $35.5 million Freddie Mac permanent loan for The Essex, a 158-unit multifamily property located in the Northern New Jersey community of Belleville. According to Apartments.com, the newly constructed, four-story building offers studio, one- and two-bedroom units that range in size from 437 to 888 square feet. Amenities include a fitness center with a yoga room, rooftop courtyard with grilling stations and a fire pit, resident lounge, game room, coworking pods, package room and a pet washing station. Judah Hammer, Jeff Feldman and Jack Hayes of CBRE originated the loan. The borrower was not disclosed.
PROVO, UTAH — Basis Investment Group has provided a $23.1 million bridge loan to Scannell Properties to facilitate the refinancing of Sierra Vista Way, a recently constructed industrial property in Provo. The bridge loan is an investment held in BIG Real Estate Fund III. Situated within Mountain Vista Business Center, Sierra Vista Way features 158,765 square feet of industrial space with direct access to I-15, US-189, SR-114 and Lakeview Parkway.