Loans

Mesa West Capital Originates $66.3M Refinancing for New Apartment Community in Orlando

by John Nelson October 14, 2025

ORLANDO, FLA. — Mesa West Capital has originated a $66.3 million loan for the refinancing of Nova at East Park Village, a newly constructed, 264-unit apartment community located at 10403 Via Parco Orienta in Orlando. Brian Hahn, Russell Frahm and Brad McCarthy of Mesa West Capital’s New York team originated the floating-rate loan for the borrower, a joint venture led by Onicx Group. Kenny Cutler and Jesse Wright of JLL represented the borrower in the loan transaction. Situated on a 10-acre site within Orlando’s Lake Nona submarket, Nova at East Park Village opened in August. The property offers a mix of one-, two- and three-bedroom units, as well as a pool with cabanas and a 24-hour fitness center. Locally based ZRS Management operates the garden-style community.

October 14, 2025

Development Loans Mixed-Use Multifamily Retail Southeast Virginia

FCP Provides $47.1M Construction Financing for Mixed-Use Redevelopment Project in Arlington, Virginia

by John Nelson October 14, 2025

ARLINGTON, VA. — FCP has provided $47.1 million in construction financing for a two-tower mixed-use development located at 685 N. Glebe Road in Arlington, a suburb of Washington, D.C. The site was formerly home to a Macy’s department store in the city’s Ballston neighborhood. The borrower, a partnership between Insight Property Group and PGIM Real Estate, is developing two 16-story residential towers called Mira and Ador that will total 553 apartments and sit atop a 40,000-square-foot grocery store. Amenities will include a shared rooftop pool and sundeck and a variety of outdoor amenities, including dog parks and entertainment areas. Resident parking will be underground, with grocery store customers accessing a separate parking deck with a dedicated entrance. Brian Crivella, Bill Gribbin and Yalda Ghamarian of Berkadia arranged the preferred equity investment on behalf of the development team. Michael Zelin, Marshall Scallan and Bindi Shah of Cushman & Wakefield arranged the senior loan through Northwestern Mutual. Bill Collins, Paul Norman and Shaun Weinberg of Cushman & Wakefield arranged the land sale.

October 14, 2025

Colorado Loans Multifamily Western

Newmark Secures $83.8M in Financing for Denver Multifamily Community

by Amy Works October 14, 2025

DENVER — Newmark has facilitated $83.8 million in financing for The Deveraux, a multifamily community in Denver’s River North (RiNo) neighborhood. The financing was secured through bank lease-up execution on behalf of an undisclosed borrower. Lee Redmond, Nick Schroeder, Courtney Crowder and Jack Kachadurian of Newmark arranged the financing. Delivered in July 2024, The Deveraux features 374 studio, one- and two-bedroom apartments, averaging 732 square feet, and 21,000 square feet of Class A retail space.

October 14, 2025

Loans Midwest Missouri Multifamily

BridgeCore Capital Provides $1.8M Refinancing for Multifamily Property in Berkeley, Missouri

by Kristin Harlow October 14, 2025

BERKELEY, MO. — BridgeCore Capital Inc. has provided a $1.8 million loan for the refinancing of a 44-unit, two-story multifamily property in Berkeley, a northwest suburb of St. Louis. The asset was built in 1957. The borrower was experiencing multiple technical defaults resulting from complexities with the existing agency lender. BridgeCore coordinated directly with the mortgage advisory team and title company to close the transaction within the expedited timeframe. BridgeCore also solved a number of unexpected ancillary issues that arose during the due diligence and closing process, including removal of one of the guarantors, adjusting the insurance coverage period at loan commencement and restructuring an entity certification into a written consent.

October 14, 2025

Data Centers Industrial Loans Southeast Virginia

Penzance Receives $100M Construction Loan for Northern Viriginia Data Center

by Abby Cox October 13, 2025

CHANTILLY, VA. — Penzance has received a $100 million construction loan for the development of Chantilly Premier, a 241,000-square-foot data center in Chantilly, roughly 34 miles west of Washington, D.C. Marshall Scallan, Michael Zelin and Bindi Shah of Cushman & Wakefield arranged the loan through QuadReal Property Group on behalf Penzance. Penzance recently broke ground on the fully preleased center, which is situated on 12 acres of a 79-acre site, located adjacent to the Chantilly Auto Park, according to the Washington Business Journal. An affiliate of Penzance originally acquired the vacant parcel in August 2022. Chantilly Premier is slated for completion by mid-2027.

October 13, 2025

Florida Industrial Loans Southeast

JLL Secures $30M Refinancing for Palmetto Industrial Park in Miami

by Abby Cox October 13, 2025

MIAMI — JLL Capital Markets has secured $30 million in refinancing for Palmetto Industrial Park, a six-building, shallow-bay portfolio located at 6801-7500 N.W. 77th Ave. in Miami. Melissa Rose, Jovi Rodriguez and Duncan Miller of JLL arranged the three-year, fixed-rate loan through an unnamed bank on behalf of the borrower, a joint venture between East Capital Partners and ABR. Constructed between 1981 and 1982, Palmetto Industrial Park totals 183,945 square feet and features 18-foot clear heights, 12 dock-high doors, 101 grade-level doors and 275 parking spaces. The facility, which was 94.9 percent leased at the time of loan closing, includes a mix of 143 tenants such as auto repair shops, custom carpentry operations, marble and stone services, logistics companies, medical centers, insurance agencies and specialized manufacturing facilities.

October 13, 2025

Hospitality Loans Southeast Virginia

MMCC Arranges $9M Refinancing for 354-Room Hotel in Norfolk, Virginia

by Abby Cox October 13, 2025

NORFOLK, VA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $9 million in refinancing for Wyndham Garden Norfolk Downtown, a 354-room hotel located near Norfolk International Airport. Robert Bhat of MMCC’s Miami office secured the loan with a global investment bank on behalf of the borrower, an unnamed private client. The five-year, non-recourse loan includes a 7 percent interest rate and was structured with an interest-only term. Wyndham Garden Norfolk Downtown features amenities such as a seasonal swimming pool, fitness center, guest laundry facilities, an ATM, bar and business center.

October 13, 2025

Affordable Housing Indiana Loans Midwest Multifamily

Merchants Capital Arranges $70M in Construction Financing for Indiana Workforce Housing Project

by Kristin Harlow October 13, 2025

ELKHART, IND. — Merchants Capital has arranged $70 million in financing for the construction of Flats at Pinecreek, a 252-unit workforce housing development in Elkhart. Holladay Properties is the developer. Merchants Capital secured a $35 million Freddie Mac Forward Commitment permanent loan and a $35 million construction loan provided by Merchants Bank. Flats at Pinecreek will be supported via an 18-year tax-increment financing structure. Roughly 25 percent of the units will be reserved for residents earning between 60 and 80 percent of the area median income, with the remaining units provided at market rate. Flats at Pinecreek will include seven three-story buildings and a clubhouse. There will be 126 one-bedroom units, 105 two-bedroom units and 21 three-bedroom residences. Amenities will include a fitness center, pool, dog park, lounge and coffee bar, grill stations and a package delivery hub. Construction has commenced, and completion is slated for January 2027.

October 13, 2025

Loans Midwest Retail Wisconsin

MMCC Secures $8M in Financing for Retail Center in Hales Corners, Wisconsin

by Kristin Harlow October 13, 2025

HALES CORNERS, WIS. — Marcus & Millichap Capital Corp. (MMCC) has secured an $8 million loan for Hales Corners Plaza, a 94,207-square-foot retail center in the Milwaukee suburb of Hales Corners. The property is fully leased to tenants such as Great Clips, AT&T, a nail salon and a physical therapy clinic. Michael Hughes of MMCC arranged the financing on behalf of the private client. A credit union provided the five-year loan, which features a 75 percent loan-to-value ratio, 6 percent interest rate and 30-year amortization period.

October 13, 2025

Loans Midwest Multifamily Wisconsin

MMCC Arranges $18M in Financing for Multifamily Property Near Green Bay

by Kristin Harlow October 10, 2025

ASHWAUBENON, WIS. — Marcus & Millichap Capital Corp. (MMCC) has arranged $18 million in financing for The Common Place, an 88-unit multifamily property located at 686 Mike McCarthy Way in Ashwaubenon, a suburb of Green Bay. The property is located in the city’s Sports & Entertainment District, blocks away from Lambeau Field and Titletown. Odyssey Climbing & Fitness occupies the first floor of the building. Units range from studios to two-bedroom floor plans, and amenities include a courtyard and bike storage. Robert Bhat of MMCC arranged the five-year, nonrecourse CMBS loan with a national bank. The loan features a 70 percent loan-to-value ratio, 6.45 percent interest rate and interest-only payments for the full term.

October 10, 2025

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