GSEs Regain Their Sea Legs Amid ‘Adjustment Period’

Loan originations for Fannie Mae and Freddie Mac moderate while they navigate the rising interest rate environment.By John NelsonMultifamily mortgage loan originations rose 57 percent in the first quarter on a year-over-year basis, according to the Mortgage Bankers Association (MBA), but Fannie Mae and Freddie Mac’s combined multifamily origination volume dipped during the same period.Although Fannie Mae and Freddie Mac are still considered the premier capital sources for …

June 23, 2022Features, Loans

Thorofare Capital Provides $16.8M Acquisition Loan for Office, Retail Building in Queens

NEW YORK CITY — Los Angeles-based Thorofare Capital has provided a $16.8 million acquisition loan for a 42,500-square-foot office and retail building located at 69-30 Austin St. in Queens. Ross Cumming of Ackman-Ziff Real Estate Capital Advisors placed the financing with Thorofare Capital. The borrower, a partnership between LTNG, Crown Acquisitions and Forest Hills Real Estate Group, plans to use a portion of the proceeds to fund capital

June 22, 2022Loans, New York, Northeast, Office, Retail

D2 Capital Advisors Arranges $18.2M Construction Loan for Affordable Housing Redevelopment Project in Illinois

AURORA, ILL. — D2 Capital Advisors has arranged an $18.2 million construction loan for Fox Valley Apartments, a 47-unit affordable housing redevelopment project in Aurora. The project consists of the adaptive reuse of two vacant, historic school buildings, the former Mary A. Todd School and Lincoln Elementary School. The Todd school will be transformed into 11 units and a health clinic for low-income families. The Lincoln school will be redeveloped into 14 units. Additionally, a new two-story …

June 22, 2022Affordable Housing, Illinois, Loans, Midwest, Multifamily

MRP Realty, Barings Obtain $69.4M Construction Loan for Multifamily Development in D.C.

WASHINGTON, D.C. — A joint venture between MRP Realty and Barings has received a $69.4 million construction loan for Phase III of Washington Gateway, a mixed-use development in Washington, D.C.’s NoMa district. Eastdil Secured arranged the loan through Santander Bank. Located at 202 Florida Ave. NE, the third phase will comprise a 16-story high-rise called The 202 that features 254 apartment and 3,800 square feet of retail space. The property will include a mix of studio, one- and …

June 22, 2022Development, District of Columbia, Loans, Multifamily, Southeast

JLL Arranges $210M Construction Loan for Ontario Ranch Business Park in Ontario, California

ONTARIO, CALIF. — JLL Capital Markets has arranged $210 million in construction financing for the development of the first phase of Ontario Ranch Business Park, a Class A industrial project currently under construction in Ontario. A joint venture between Newport Beach-based Real Estate Development Associates (REDA) and an industrial fund managed by Clarion Partners is building the asset.Once complete, Ontario Ranch Business Park will feature seven buildings totaling 1.7 million square …

June 22, 2022California, Development, Industrial, Loans, Western

Colliers Mortgage Provides Acquisition Loan for Brookefield Apartments in Elizabethtown, Kentucky

ELIZABETHTOWN, KY. — Colliers Mortgage has provided a Fannie Mae acquisition loan for Brookefield Apartment Homes, a 91-unit, market-rate multifamily community in Elizabethtown. Built in 2020, the property features attached garages, 24-hour emergency maintenance, a clubhouse, pool, fitness center, dog park and a pet wash station. Colliers Mortgage and partner Old Capital Lending provided the undisclosed amount of financing to the borrower, an entity doing business as BFA202 LLC. The 10-year …

June 21, 2022Acquisitions, Kentucky, Loans, Southeast

Arriba Capital Closes $40.5M Construction Loan for Two Hotels in Woodland, California

WOODLAND, CALIF. — Arriba Capital has closed a $40.5 million ground-up construction loan for two adjacent hotel properties in Woodland.The three-year loan was features an 80 percent loan-to-cost ratio. The two hotel developments include a four-story, 95-room, extended-stay Home2 Suites by Hilton and a five-story, 109-room Courtyard by Marriott.Details of the financing, including the borrower’s name, were not

June 21, 2022California, Development, Hospitality, Loans, Western

Fifth Third Bank, Pearlmark Provide Construction Financing for 336-Unit Dallas Apartment Community

DALLAS — Fifth Third Bank and Chicago-based Pearlmark have provided construction financing for Resia National Dallas, a 336-unit apartment community that will be located in the North Oak Cliff/West Dallas submarket. The property will feature one-, two- and three-bedroom units, including 17 affordable housing residences. Amenities will include a pool, fitness center and a business center. Fifth Third Bank provided a senior loan of an undisclosed amount, and Pealmark originated the $11.1 …

June 20, 2022Development, Loans, Multifamily, Texas

Lument Provides Five Agency Loans Totaling $16.1M for Texas Multifamily Assets

NEW YORK CITY — Lument has provided five Freddie Mac loans totaling $16.1 million for the refinancing of four multifamily properties totaling 312 units in Texas. Three of the properties are located in Amarillo, and one is in Wichita Falls. Owen Breheny led the transaction for Lument on behalf of the borrower, Trans Pacific Construction Inc. Doug Solether of Commercial Real Estate Finance Co. of America served as the correspondent broker on the

June 20, 2022Loans, Multifamily, Texas

CIT Provides $17M in Construction Financing for Two Industrial Projects in Hazleton, Pennsylvania

HAZLETON, PA. — CIT, a division of First Citizens Bank, has provided $17 million in construction financing for two industrial projects in Hazleton, located roughly midway between Scranton and Allentown. The sites are located within the 3,000-acre Humboldt Park and can support Class A developments of 105,000 and 115,000 square feet. The borrower was Saxum Real

June 20, 2022Industrial, Loans, Northeast, Pennsylvania

GSEs Regain Their Sea Legs Amid ‘Adjustment Period’

Thorofare Capital Provides $16.8M Acquisition Loan for Office, Retail Building in Queens

D2 Capital Advisors Arranges $18.2M Construction Loan for Affordable Housing Redevelopment Project in Illinois

MRP Realty, Barings Obtain $69.4M Construction Loan for Multifamily Development in D.C.

JLL Arranges $210M Construction Loan for Ontario Ranch Business Park in Ontario, California

Colliers Mortgage Provides Acquisition Loan for Brookefield Apartments in Elizabethtown, Kentucky

Arriba Capital Closes $40.5M Construction Loan for Two Hotels in Woodland, California

Fifth Third Bank, Pearlmark Provide Construction Financing for 336-Unit Dallas Apartment Community

Lument Provides Five Agency Loans Totaling $16.1M for Texas Multifamily Assets

CIT Provides $17M in Construction Financing for Two Industrial Projects in Hazleton, Pennsylvania

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