Loans

Ashford Hospitality Trust Obtains $218.1M Loan to Refinance Renaissance Hotel in Nashville

by John Nelson September 16, 2025

NASHVILLE, TENN. — Ashford Hospitality Trust Inc. has obtained a $218.1 million loan to refinance Renaissance Hotel, a 673-room hotel located at 611 Commerce St. in Nashville. Built in 1987, the hotel features meeting and event space, a club lounge, Little Fib Bar, a 24-hour market and a third-floor bar and restaurant in a glass atrium called Bridge Bar, according to the hotel website. The two-year, non-recourse loan refinanced the existing $267.2 million mortgage. The undisclosed lender underwrote the loan with three one-year extension options and a floating interest rate of SOFR + 2.26 percent, which is 172 basis points lower than the interest rate on the previous loan. In conjunction with the debt refinancing, Ashford Hospitality increased the preferred equity investment on the hotel by $53 million.

September 16, 2025

Loans Multifamily New Jersey Northeast Walker & Dunlop

Walker & Dunlop Arranges $220M Loan for Refinancing of Jersey City Apartment Building

by Taylor Williams September 16, 2025

JERSEY CITY, N.J. — Walker & Dunlop has arranged a $220 million bridge loan for the refinancing of 626 Newark, a 576-unit apartment building in Jersey City. The newly built, 27-story building is located in the city’s Jersey Square neighborhood and includes 27,662 square feet of commercial space. According to Apartments.com, units come in studio, one- and two-bedroom floor plans, and amenities include a fitness center, arcade, bowling alley, music studio and a golf simulator. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Edward Leboyer of Walker & Dunlop arranged the loan through TYKO Capital on behalf of the borrower, Namdar Group. SCALE Lending provided the original $160 million construction loan for the property in early 2024.

September 16, 2025

California Loans Multifamily Western

Mesa West Capital Provides $43.5M Loan for Refinancing of Apartment Community in Los Angeles

by Amy Works September 16, 2025

LOS ANGELES — Mesa West Capital has provided a joint venture between Alliance Residential and PCCP with $43.5 million in short-term, first mortgage debt to refinance Broadstone Los Feliz, a multifamily property located at 1800 N. New Hampshire in Los Angeles’ Los Feliz neighborhood. Troy Tegeler, Trevor Breaux, Ryan Greer and CJ Connolly of CBRE arranged the five-year, floating-rate loan. Built in 1986, Broadstone Los Feliz offers 134 studio, one- and two-bedroom apartments, a rooftop lounge and barbecue area, an indoor swimming pool and spa, a fitness center and electric vehicle charging stations. At the time of financing, the property was 95 percent occupied. Since acquiring the asset in 2022, the owners have invested more than $1 million to upgrade the common areas and renovate the interiors of 33 units with hardwood flooring, quartz countertops, stainless steel appliances and new wood-grain cabinets. The sponsor plans to renovate the remaining 45 units within the next two years.

September 16, 2025

Acquisitions Indiana Loans Midwest Multifamily

Greystone Structures $31.3M in Acquisition Financing for Multifamily Property in Merrillville, Indiana

by Kristin Harlow September 16, 2025

MERRILLVILLE, IND. — Greystone has provided a $26.3 million Freddie Mac loan to finance the acquisition of Tiberon Trails Apartments in Merrillville. Additionally, Greystone Equity Services brought in MORE Capital, an affiliate of Morgan Properties, as a preferred equity provider. MORE Capital supplied a nearly $5 million preferred equity loan in conjunction with the Freddie Mac financing. Eric Rosenstock of Greystone originated the Freddie Mac loan on behalf of the borrower, Bayshore Properties. The loan features a fixed interest rate over a five-year term with a 30-year amortization and two years of interest-only payments. Tiberon Trails comprises 374 units with a mix of studio, one-, two- and three-bedroom layouts. Amenities include a playground and fitness center.

September 16, 2025

Industrial Loans Midwest Wisconsin

Associated Bank Provides $6.5M Acquisition Loan for Wisconsin Industrial Property

by Kristin Harlow September 16, 2025

WAUKESHA, WIS. — Associated Bank has provided a $6.5 million loan for the acquisition of Ridgeview Industrial Center IV in Waukesha. The 89,405-square-foot building, constructed in 2003 and remodeled in 2023, is fully leased to two tenants. The property is located just off the intersection of I-94 and Redford Boulevard, with logistics access to I-41 and I-43. The borrower, Capital Partners, currently manages 16.2 million square feet of industrial properties. Randy Stille of Associated Bank handled the loan arrangements and closing.

September 16, 2025

Loans Mixed-Use New York Northeast

Newmark Arranges $230M Loan for Refinancing of Mixed-Use Property in Lower Manhattan

by Taylor Williams September 15, 2025

NEW YORK CITY — Newmark has arranged a $230 million loan for the refinancing of 520-524 Broadway, a mixed-use property totaling 235,000 square feet in the SoHo district of Lower Manhattan. The property consists of two buildings that were both constructed in the early 1900s and that feature a combined 180,000 square feet of office space and 55,000 square feet of retail space that is leased to tenants such as Balthazar and Lululemon, with Abercrombie & Fitch soon to join the roster. Jordan Roeschlaub and Nick Scribani of Newmark arranged the debt through Barings on behalf of the owner, Northwood Investors, a firm with about a dozen offices across the United States and the United Kingdom.

September 15, 2025

Affordable Housing Loans Multifamily New York Northeast

Merchants Capital Provides $25.2M in Financing for Lower Manhattan Affordable Housing Property

by Taylor Williams September 15, 2025

NEW YORK CITY — Merchants Capital has provided $25.2 million in financing for Westbeth Artists Housing, a 384-unit affordable housing property located in the West Village area of Lower Manhattan. The historic property, which was originally constructed for Western Electric in 1868, is known as “artist housing,” via its inclusion of 46 affordable artistic workspaces that can be used as rehearsal studios or for arts programming and exhibitions. Financing proceeds will be used to recapitalize the property’s debt structure and fund capital improvements such as new roofs, elevators, windows and radiators, as well as restoration of the historic façade and full renovation of 32 apartments. The borrower was not disclosed.

September 15, 2025

Development Hospitality Loans Utah Western

PACE Equity Provides $63.3M in C-PACE Financing for SkyRidge Resort in Deer Valley, Utah

by Amy Works September 15, 2025

DEER VALLEY, UTAH — PACE Equity has funded a $63.3 million mid-construction recapitalization using long-term, fixed-rate C-PACE financing for SkyRidge Resort in Deer Valley. SkyRidge Development is developing SkyRidge Resort. Designed for four seasons, SkyRidge Resort will offer the Stelle Lodge, a six-story resort with a rooftop bar, spa and guest services; a 310-yard golfing range with 15 hitting bays, a three-hole mountain golf course that converts into a nine-hole short course and the Golf Clubhouse with a bar and restaurant, grocer café and curated retail; and an Equestrian Center with a 34-stall barn, indoor and outdoor arena, a European walking path and scenic riding trails. SkyRidge Golf and Clubhouse are slated to open in late 2025, with theStelle Lodge scheduled to open in 2026.

September 15, 2025

Development Florida Hospitality Loans Multifamily Southeast Top Stories

Two Roads Development Receives $520M in Construction Financing for Downtown Tampa Hotel, Residential Project

by Taylor Williams September 15, 2025

TAMPA, FLA. — South Florida-based Two Roads Development has received $520 million in construction financing for Pendry Tampa and Pendry Residences Tampa, a hospitality and residential project that will be located in the city’s downtown area. Pendry is a luxury hospitality operating platform and a division of California-based Montage International. New York City-based Sculptor Capital Management and Connecticut-based Nuveen Green Capital provided the financing. The latter’s $290 million contribution came in the form of Commercial Property Assessed Clean Energy (C-PACE) financing. “We are thrilled to have closed the largest C-PACE transaction in history, partnering with Two Roads Development and Sculptor Capital on this transformative luxury property that will redefine Tampa’s skyline,” says Ryan Doyle, senior director of originations at Nuveen Green Capital. “This historic milestone showcases the growing sophistication and scale of C-PACE financing and its capacity to support major developments.” “Awareness of what’s happening in the Tampa Bay region is growing each year, and we received tremendous interest from across the nation to finance this development,” adds Taylor Collins, managing partner of South Florida-based Two Roads Development. Designed by Arquitectonica with interiors by Studio Munge, Pendry Tampa and Pendry Residences Tampa will be housed within a 38-story high-rise building …

September 15, 2025

Loans Multifamily Utah Western

Northmarq Arranges $38M Refinancing for Bowers Residences in South Salt Lake, Utah

by Amy Works September 12, 2025

SOUTH SALT LAKE, UTAH — Northmarq has arranged a $38 million loan on behalf of SSLC Multifamily-Parking LLC for the refinancing of Bowers Residences, an apartment community located at 55 W. Utopia Ave. in South Salt Lake. John Bradshaw, Nate Barnson, Bracken Ostler and Adam Bradshaw of Northmarq arranged the permanent fixed-rate financing on behalf of the borrower through a relationship with New York Life. Built in 2023, Bowers Residences offers 236 studio, one-, two- and three-bedroom layouts, a fitness center with a bouldering wall and a yoga/spin studio, a spa, private rooftop lounge and courtyard with games and grills, and a coworking space with a rentable clubroom and kitchen.

September 12, 2025

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