Tuesday, March 17, 2026
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IndustrialLoansMidwestMissouri

Gantry Secures $25.5M Refinancing for Logistics Facility in Riverside, Missouri

by Kristin Harlow

RIVERSIDE, MO. — Gantry has secured a $25.5 million permanent loan to retire maturing construction debt from the development of Riverside Logistics Centre II, a 328,000-square-foot, multi-tenant logistics facility in the northwest Kansas City suburb of Riverside. The building features a clear height of 36 feet, 36 overhead dock doors, four drive-in doors and parking for 88 trailers. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. A life insurance company provided the nonrecourse loan, which features a seven-year term, fixed interest rate and 27-year amortization.

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LoansMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $12M Loan for Refinancing of Queens Multifamily Portfolio

by Taylor Williams

NEW YORK CITY — Ariel Property Advisors has arranged a $12 million loan for the refinancing of a portfolio of three multifamily buildings totaling 60 units in Queens. The addresses of the buildings, which are located in the borough’s Sunnyside neighborhood, were not disclosed. Matthew Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which was structured with at 65 percent loan-to-value ratio and two years of interest-only payments. The undisclosed borrower will use a portion of the proceeds to complete renovations that are already underway.

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LoansMultifamilyNortheastPennsylvania

Newmark Arranges $145M Loan for Refinancing of Philadelphia Apartment Building

by Taylor Williams

PHILADELPHIA — Newmark has arranged a $145 million loan for the refinancing of Josephine, a 255-unit apartment building in Philadelphia. The 27-story building is located at 1620 Sansom St. within the Center City District and includes more than 20,000 square feet of retail and restaurant space across two floors. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool with a bar and lounge area, rooftop terrace, club lounge with games and a demonstration kitchen, a fitness center, spa areas, coworking lounge, coffee bar and outdoor grilling and dining stations. Jordan Roeschlaub, Nick Scribani and Samuel Speciale of Newmark arranged the loan on behalf of the owner, Nashville-based developer Southern Land Co.

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IllinoisLoansMidwestMultifamily

JLL Arranges $25.2M Refinancing for Boutique Apartment Building in Chicago

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged a $25.2 million loan for the refinancing of Chateau on Wells, a 43-unit luxury apartment building in downtown Chicago. The boutique property, built in 2016, features one retail suite and is located at 707 N. Wells St. in the heart of the River North entertainment district. Current occupancy is 95 percent. Units average 1,059 square feet and monthly rents average $4,091. Jesse Wright, Joshua Odessky, Sam Tarter, Miguel Pedersen and Ben Banzhof of JLL represented the borrower, Akara Partners, in arranging the three-year, floating-rate loan through D2 Residential.

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LoansMultifamilyNew YorkNortheast

JLL Provides $125.5M Agency Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — JLL has provided a $125.5 million Freddie Mac loan for the refinancing of Union Channel, a 224-unit apartment building located in the Gowanus area of Brooklyn. Designed by Fogarty Finger Architecture, the building is the first of four within the Gowanus Wharf development and also houses 22,226 square feet of retail space. Units come in studio, one-, two- and three-bedroom floor plans, with 25 percent of residences reserved as affordable housing. Amenities include a rooftop pool and sundeck, fitness center with a yoga studio and a coworking lounge. Christopher Peck, Peter Rotchford, Nicco Lupo and Michael Shmuely of JLL originated the seven-year, fixed-rate loan on behalf of the borrower, a partnership between Charney Cos., Tavros and Canyon Partners Real Estate.

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The-Chelsea-at-New-City
LoansMultifamilyNew JerseyNew YorkNortheastSeniors Housing

Partnership Receives $48M Loan for Refinancing of Tri-State Seniors Housing Communities

by Taylor Williams

NEW CITY, N.Y. AND WASHINGTON TOWNSHIP, N.J. — A partnership between Bain Capital Real Estate and Capitol Seniors Housing has received a $48 million loan for the refinancing of two seniors housing communities in the Tri-State area. The communities include The Chelsea at New City, located about 40 miles north of New York City, and The Chelsea at Washington Township, about 75 miles west of New York City. The properties were built in 2021 and 2023, respectively, and both offer memory care and assisted living services, as well as various onsite amenities. JLL arranged the three-year, floating-rate loan through an undisclosed regional bank on behalf of the partnership.

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Luxor-Bala-Cynwyd
LoansMultifamilyNortheastPennsylvania

ACRE Capital Funds $37M Acquisition Loan for Metro Philadelphia Multifamily Property

by Taylor Williams

BALA CYNWYD, PA. — ACRE Capital has funded a $37 million acquisition loan for Luxor Bala Cynwyd, a 173-unit multifamily property located on the western outskirts of Philadelphia. Completed in 2021, Luxor Bala Cynwyd features studio, one- and two-bedroom residences that range in size from 497 to 1,157 square feet. Amenities include a pool, fitness center with a yoga studio, golf simulator, landscaped outdoor courtyard, resident lounge and a dog park. Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia arranged the debt on behalf of the owner, a joint venture between Arizona-based Alliance Residential and Los Angeles-based PCCP

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CIRRUS-Brooklyn
LoansMultifamilyNew YorkNortheast

JLL Arranges $16.4M Loan for Refinancing of Brooklyn Multifamily Property

by Taylor Williams

NEW YORK CITY — JLL has arranged a $16.4 million loan for the refinancing of CIRRUS, a 46-unit multifamily property in Brooklyn’s Prospect Lefferts Gardens neighborhood that was completed in 2024. Designed by AB Architekten with interiors by SR Projects, CIRRUS offers studio and one-bedroom apartments and amenities such as a fitness studio, coworking lounge, package room and a sky lounge with grills, a wet bar and dining areas. Aaron Niedermayer, Robert Tonnessen and John Flynn of JLL arranged the loan on behalf of the owner, New York City-based developer Astral Weeks. The direct lender was not disclosed.

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AcquisitionsIllinoisLoansMidwestRetail

Greenstone Partners Brokers $19.5M Sale of Retail Center in Chicago

by Kristin Harlow

CHICAGO — Greenstone Partners has brokered the $19.5 million sale of a 54,000-square-foot retail center located at 1415-1417 N. Kingsbury St. in Chicago’s Clybourn Corridor. A venture between Chicago-based Honore Properties and Peerless Development acquired the fully leased property. Danny Spitz and AJ Patel of Greenstone represented the seller, Los Angeles-based Westwood Financial. The transaction marks the fourth acquisition in the immediate corridor for Honore and Peerless. Spitz previously represented the venture in the acquisition of the adjacent property at 821 W. Eastman St. Originally acquired by Westwood in 2017 via a loan assumption structure, the Kingsbury center underwent a significant repositioning following the departure of Buy Buy Baby. In 2023, ownership executed a lease-up strategy by securing Sky Zone on a 10-year lease for 35,386 square feet. The center is also home to PetSmart, which has operated an 18,524-square-foot store since 2012. The property also features a redevelopment component. The asset includes nearly 500,000 square feet of transferable air rights, creating a future high-density multifamily development opportunity. Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged $13.7 million in acquisition financing through Great Southern Bank.

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DevelopmentIllinoisLoansMidwestMultifamily

Associated Bank Provides $7.6M Construction Loan for Chicago Apartment Building

by Kristin Harlow

CHICAGO — Associated Bank has provided a $7.6 million construction loan for a five-story, 40-unit apartment building located at 4725 N. Clifton Ave. in Chicago. CEDARst Cos. is developing the transit-oriented project, which is named Clifton Uptown. Located in the heart of the Uptown Square Historic District, the property will feature 12 studio units, 28 one-bedroom units and 1,839 square feet of ground-floor retail space. The site is adjacent to the CTA Red Line Lawrence Station that is in the final stages of a $2.1 billion Red and Purple Line modernization project. Daniel Barrins of Associated Bank managed the loan arrangements and closing.

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