Sunday, November 23, 2025
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Loans

AcquisitionsLoansMarylandRetailSoutheast

JLL Arranges $18.4M Acquisition Financing for Retail Center in Metro D.C.

by John Nelson

HYATTSVILLE, MD. — JLL Capital Markets has arranged an $18.4 million loan to finance the acquisition of Metro Shops, a retail center located in the Washington, D.C., suburb of Hyattsville. Michael Klein, Max Custer, Brian Buglione and Benjamin Morgenthal of JLL secured the financing through Loews Corp. on behalf of the borrower, Northpath Investments. Built in 2007 at 2900 Belcrest Center Drive, Metro Shops totals 160,623 square feet and is situated across from the 1 million-square-foot Mall at Prince George’s. Tenants at the center include Bob’s Discount Furniture, Staples, LA Fitness, Dunkin’ and Citibank.

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LoansLumentMultifamilyTexas

Lument Provides $11.3M Agency Loan for Refinancing of Multifamily Property in Sherman, Texas

by Taylor Williams

SHERMAN, TEXAS — New York City-based Lument has provided an $11.3 million Freddie Mac loan for the refinancing of Easton Parc Apartments, a 232-unit multifamily property located in the North Texas city of Sherman. Built in 1986 and renovated in 2013, the garden-style property consists of 22 buildings on nearly nine acres. Amenities include a pool, clubhouse, dog park and onsite laundry facilities. Sloan Stevens of Lument originated the 10-year loan, which is structured with five years of interest-only payments and a 30-year amortization schedule. The borrower was not disclosed.

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LoansNew YorkNortheastRetail

The Feil Organization Refinances 269,490 SF Shopping Center in Elmont, New York

by Taylor Williams

ELMONT, N.Y. — The Feil Organization has refinanced Home Depot Shopping Center, a 269,490-square-foot property located at 600 Hempstead Turnpike in the Long Island community of Elmont. Feil has owned the property since 1992. At the time of the loan closing, the center was fully leased, with Marshalls and Target serving as the other anchor tenants. Estreich & Co. arranged the $23.5 million loan for the refinancing through Principal Asset Management on behalf of Feil.

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LoansNew MexicoRetailWestern

Ariel Property Advisors Arranges $5.5M Refinancing for Guadalupe Plaza Retail Center in Albuquerque

by Amy Works

ALBUQUERQUE, N.M. — Ariel Property Advisors has arranged a $5.5 million cash-out refinancing for Guadalupe Plaza, a shopping center in Albuquerque. The grocery-anchored plaza features 87,000 square feet of retail space. Matt Swerdlow, Matthew Dzbanek and Rhea Vivek of Ariel Property’s Capital Services Group secured the financing for the borrower, a New Jersey-based investor. The 15-year loan includes one year of interest-only payments and a 30-year amortization schedule at a 75 percent loan-to-value ratio with no prepayment penalty.

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HospitalityLoansMidwestMissouri

Driftwood Capital Receives $60.5M Loan for Refinancing of Margaritaville Resort in Osage Beach, Missouri

by Kristin Harlow

OSAGE BEACH, MO. — Driftwood Capital has received a $60.5 million loan for the refinancing of the Margaritaville Lake Resort, Lake of the Ozarks. The 520-room resort is located in Osage Beach, a central Missouri city situated along the Lake of the Ozarks. Located at 494 Tan Tar A Drive, the property includes a full-service marina, championship golf course, indoor water park, spa and seven restaurants and bars. Driftwood acquired the asset in 2017 and rebranded it from the Tan-Tar-A Resort into a Margaritaville hotel. Michael Weinberg and Scott Wadler of Driftwood worked with Alec Fox of Berkadia to secure the loan through Goldman Sachs Bank USA and Starwood Mortgage Capital. The five-year loan features interest-only payments for the full term.

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CaliforniaDevelopmentLoansMultifamilyTop StoriesWestern

Gantry Arranges $128M in Construction Financing for Legado at the Met Apartments in Santa Ana, California

by Jeff Shaw

SANTA ANA, CALIF. — Gantry Inc. has negotiated $128 million in construction-to-permanent financing from three separate lenders for the development of Legado at the Met in Santa Ana, less than 10 miles southeast of Anaheim. The borrower was Legado Cos. Legado at the Met will comprise 258 market-rate apartments. The Class A development will be situated at 200 E. First American Way, across from First American Title’s headquarters. While a construction timeline for the project was not officially disclosed, Apartments.com states that the property will open in 2025. According to the City of Santa Ana’s government website, the community will rise six stories. Units will come in studio, one-, two- and three-bedroom layouts ranging from 612 to 1,783 square feet in size. The property will also include a 617-space parking garage. George Mitsanas and Amit Tyagi of Gantry’s Los Angeles production office arranged the financing on behalf of the borrower. Gantry’s production team underwrote the complex financing in three tranches with three of the firm’s correspondent life company lenders. Gantry will service all three loans. — Channing Hamilton

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LoansMultifamilyNorth CarolinaSoutheast

Greystone Provides $18.6M Agency Loan for Keystone Apartments in Fayetteville, North Carolina

by John Nelson

FAYETTEVILLE, N.C. — Greystone has provided an $18.6 million Freddie Mac loan for the refinancing of Keystone Apartments, a 202-unit multifamily property in Fayetteville, about 64 miles south of Raleigh. Justin Hechler of Greystone originated the nonrecourse, fixed-rate loan on behalf of the borrowers, Magma Equities and Prudent Growth Partners. The financing was underwritten with a five-year term, two years of interest-only payments and a 30-year amortization schedule. Built in 1974, Keystone Apartments features one- and two-bedroom units, as well as a clubhouse, fitness center, swimming pool and a dog park.

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Affordable HousingLoansMultifamilyTexas

BWE Provides $16.8M in Agency Financing for Affordable Seniors Housing Project in Dallas

by Taylor Williams

DALLAS — BWE, the commercial lender formerly known as Bellwether Enterprise Real Estate Capital, has provided $16.8 million in Freddie Mac permanent financing for Estates at Ferguson, a 164-unit affordable seniors housing project in Dallas. The property will offer 99 one-bedroom units and 65 two-bedroom units, with the majority of residences (148) reserved for renters earning 60 percent or less of the area median income. John Killough and John Roberts of BWE originated the loan, which carries a 15-year term and a fixed interest rate. The City of Dallas HFC also issued tax-exempt bonds as part of the project’s capital stack, and The Texas Department of Housing & Community Affairs provided Low-Income Housing Tax Credit (LIHTC) equity. Construction is underway and expected to last about 15 months. The sponsor was not disclosed.

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LoansMultifamilyNew JerseyNortheast

Prism Capital Receives $53.9M in Financing for Multifamily Property in Dunellen, New Jersey

by Taylor Williams

DUNELLEN, N.J. — Locally based developer Prism Capital Partners has received $53.9 million in financing for The Nell, a 252-unit multifamily property in the Central New Jersey community of Dunellen. Designed by Spiezle Architectural Group, the transit-oriented, newly built property offers one- and two-bedroom units and includes 3,700 square feet of retail space. The amenity package comprises a pool, fitness center, resident lounge, community kitchen, meeting rooms, an outdoor bar with TVs and grilling and dining areas. Rodney Sherman and Greg Halvorson of KeyBank Real Estate Capital arranged the seven-year loan, which provides fixed-rate takeout financing, through New York Life Real Estate Investors on behalf of Prism Capital Partners.

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DevelopmentHospitalityKansasLoansMidwest

VICI Properties Provides $105M Construction Loan for Margaritaville Resort in Kansas City

by Kristin Harlow

KANSAS CITY, KAN. — VICI Properties Inc. has entered into a construction loan agreement with affiliates of Homefield Kansas City to provide up to $105 million in financing for the development of a Margaritaville Resort in Kansas City. The construction loan has an initial term of three years with three 12-month extension options. The Margaritaville Resort, set to open in summer 2025, will serve as the anchor to the Homefield Development, an ongoing project in Kansas City that will house Homefield’s new youth sports training facility and baseball center that are currently under development within the Homefield Resort campus. Both the training facility and baseball center are slated to open this spring. Homefield is an operator of youth sports facilities. Simultaneous with entering the loan agreement, VICI entered into a call right agreement that provides VICI with a call option on the Margaritaville Resort, the Homefield youth sports training facility, the Homefield baseball center and the existing Homefield youth sports complex in Olathe. VICI also received a right of first refusal to acquire the real estate of any future Homefield property in a sale-leaseback transaction, should Homefield elect to monetize such assets. If the call right is exercised, all of …

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