TEWKSBURY AND HAVERHILL, MASS. — JLL has arranged $10.1 million in acquisition financing across two loans for two industrial assets totaling 64,460 square feet in metro Boston. The buildings include a 34,100-square-foot cold storage facility in Tewksbury and a 30,360-square-foot facility in Haverhill, both of which are located north of the state capital. The buildings were completed in 2000 and 1982, respectively. Max Custer, Amy Lousararian, Thomas Didio Jr., Chris Barry and Christian Badalamenti of JLL arranged the financing. Both loans carried fixed interest rates and were provided by local banks. The borrower was B&D Holdings.
NEW YORK CITY — Rudin has extended an existing $425 million CMBS loan backed by 32 Avenue of the Americas, a 27-story office tower in Manhattan’s Tribeca neighborhood. The New York City-based owner-operator has also announced plans for a $100 million capital improvement program at the 1.2 million-square-foot Art Deco property, which also features a prominent data center/carrier hotel component. Rudin will introduce a prebuilt program of new work environments at 32 Avenue of the Americas that will range in size from 5,000 to 10,000 square feet. The company will also upgrade the building’s lobby and renovate its street-level retail space. Lastly, Rudin will create a new leasing/marketing center spanning the entire 25th floor, which also features two outdoor terraces that offer views of the Manhattan skyline. The tower’s mortgage will now mature in November 2029 should Rudin exercise both of its one-year renewal options in 2027 and 2028. Iron Hound Management Co. advised Rudin, which acquired the property in 1999 from AT&T, on the loan modification. The direct lender was not named. Rudin requested that its loan be transferred to an unnamed special servicer two months ahead of its November maturity in order to begin discussions on the loan modification. …
NEW YORK CITY — A partnership between The Domain Cos., LMXD and Bridge Investment Group Holdings LLC has received a $290 million loan for the refinancing of Jasper, a 499-unit multifamily property located in the Long Island City neighborhood of Queens. Wells Fargo provided the loan. Residences at Jasper come in studio, one-, two- and three bedroom floor plans, and the development includes 150 affordable units that are reserved for households earning 130 percent of the area median income. Amenities include multiple outdoor terraces, a rooftop pool, fitness center with a yoga studio, a dog run, multiple landscaped courtyards, a game room, package lockers, outdoor grilling and dining areas, a resident lounge, demonstration kitchen and coworking space. Jasper also features 33,000 square feet of retail space. The property’s multifamily component was 65 percent occupied at the time of the loan closing.
MABLETON, GA. — A partnership between Vista Residential Partners and Virtus Real Estate Group has secured construction financing for Mill Grove Vista, a 304-unit, garden-style apartment development located in Mableton, approximately 14 miles west of downtown Atlanta in Cobb County. The multifamily community will sit at the heart of a future 23.6-acre mixed-use development that will feature a civic building, townhomes and retail space, along with Mill Grove Vista. Nationwide Mutual Insurance Co. will provide financing for the project. Apex Multifamily Construction, a Vista affiliate, will serve as general contractor. Mill Grove Vista will feature a mix of one-, two- and three-bedroom apartments across 12 residential buildings. The average unit size will total roughly 917 square feet. Amenities at the community will include a fitness center, resort-style swimming pool, clubroom with a coffee bar, coworking spaces, parcel room, dog park and a playground. Vertical construction on Mill Grove Vista is anticipated to start early next year, with completion scheduled for the end of 2027.
SAN DIEGO AND LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California. Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing. Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing through Berkadia’s proprietary lending group on behalf of the undisclosed buyer. The bridge-to-HUD loans feature interest-only payments for 24 months.
ADAIRSVILLE, GA. — JLL Capital Markets has secured $71.7 million in refinancing for Gordon Logistics Center, a roughly 1 million-square-foot advanced manufacturing facility located in Adairsville, about 60 miles northwest of Atlanta via I-75. Peter Rotchford, Bobby Norwood, David Sitt, Christopher Pratt, Hamp Gibbs and Streeter Simmons of JLL arranged the floating-rate, two-year loan through Benefit Street Partners on behalf of the borrower, Thor Equities. The loan includes three, one-year extension options. Delivered in 2023, Gordon Logistics Center features 40-foot clear heights, 179 dock-high doors, four drive-in doors, 200 trailer parking spaces (expandable to 306), 393 car parking spaces (expandable to 567), a 185-foot truck court depth and 5,095 square feet of built-out office space. The property is also situated in close proximity to the Georgia Port Authority’s Appalachian Regional Port, which offers direct rail connection with the Port of Savannah.
MESA, ARIZ. — CBRE has arranged $45.6 million in financing on behalf of InTrust Property Group for the acquisition and renovation of Coral Point Apartments in Mesa. Shaun Moothart, Doug Birrell, Bruce Francis, Bob Ybarra, Nick Santangelo, Anna Britt and Amber Coleman of CBRE secured the three-year, floating-rate loan, which features full-term interest-only payments and two extension options. Brightspire Capital was the lender. Situated on 15.9 acres, Coral Point comprises 24 two-story buildings offering a total of 377 apartments. Community amenities include three swimming pools, two spas, a clubhouse and business center, a fitness center, outdoor barbecue areas and a play area. The sponsor’s value-add strategy includes plans to install washers and dryers in every unit, refresh exteriors and activate amenities.
AUBURN HILLS, MICH. — Bernard Financial Group (BFG) has arranged a $13.6 million construction loan for a self-storage project in Auburn Hills. Adam Ferguson of BFG arranged the loan with a banking institution. The borrowing entity was Opdyke/S Blvd Self-Storage LLC & 975 Opdyke II LLC.
FREDERICKSBURG, TEXAS — CooperWynn Capital, a Utah-based capital markets advisory firm, has arranged a fixed-rate loan of an undisclosed amount for the refinancing of the 103-room Fredericksburg Inn & Suites in Central Texas. Amenities include complimentary breakfast, an outdoor pool with a slide, volleyball pool and more than 3,700 square feet of meeting and event space. The borrower, Croesus Hotels LLC, bought the select-sertvice hotel in 2004 and subsequently invested more than $5 million in capital improvements. The direct lender was not disclosed.
WASHINGTON, D.C. — The volume for commercial and multifamily mortgage loan originations closed in the third quarter of 2025 was 36 percent higher compared to a year earlier, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations report. The third-quarter production also represents an 18 percent increase from the previous quarter. The MBA reports that loan originations have now risen for five consecutive quarters on both a quarterly and annual basis. Among property types, there was an 181 percent year-over-year increase in the dollar volume of loans for office properties, 100 percent increase for retail properties, 66 percent increase for hotels, 27 percent increase for multifamily properties and a 5 percent increase for industrial properties. Originations for healthcare properties decreased 43 percent compared to the third quarter of 2024. “While some sectors, such as healthcare and industrial, saw slower activity, overall volumes reflected improving sentiment as property values stabilized and loans reaching maturity were refinanced,” says Reggie Booker, MBA’s associate vice president of commercial/multifamily research. Among capital sources, there was a 52 percent year-over-year increase in loans by depositories lenders (i.e. banks), 40 percent increase in loans by government sponsored enterprises (Fannie Mae and Freddie Mac) …