Loans

PACE Loan Group Provides $22.4M C-PACE Refinancing for Creative Office Building in Los Angeles

by Amy Works March 31, 2025

LOS ANGELES — Center Capital Partners and Abramson Investors have received a $22.4 million C-PACE loan from PACE Loan Group to refinance improvements completed on the borrowers’ newly constructed creative office development in Los Angeles. The C-PACE loan will amortize over 30 years, allowing payback for original investments during construction. The loan will be used to retroactively finance energy conservation improvements completed during the building’s construction, including building envelope, seismic retrofits, elevators, lighting, plumbing, HVAC, irrigation and stormwater mitigations. Located at 5237 W. Jefferson Blvd., the three-story, 72,000-square-foot property offers 9,700 square feet of of private terraces, a landscaped rooftop deck with seating and a barbecue area, 176 subterranean parking spaces and open-floor plans with wraparound windows.

March 31, 2025

California Loans Multifamily Western

Naturally Affordable Housing Receives $10.1M Bridge Loan for Multifamily Property in San Diego

by Amy Works March 31, 2025

SAN DIEGO — Naturally Affordable Housing has received $10.1 million in bridge financing for North Park Nest, an apartment community located at 4233 Kansas St. in San Diego. Brad Vansant and Ben Choromanski of JLL Capital Market’s Debt Advisory team secured the short-term floating-rate loan for the borrower. The four-story North Park Nest features 39 studio and one-bedroom units with an average size of 486 square feet and 11-foot ceilings. Amenities include air conditioning, stainless steel appliances, in-unit washers/dryers and a rooftop deck with a barbecue and lounge area.

March 31, 2025

Illinois Loans Midwest Multifamily Wisconsin

Greystone Provides $15.4M Refinancing for Multifamily Portfolio in Illinois, Wisconsin

by Kristin Harlow March 31, 2025

ANTIOCH, ILL. AND LAKE GENEVA, WIS. — Greystone has provided two Fannie Mae loans totaling $15.4 million for the refinancing of a 253-unit multifamily portfolio in Illinois and Wisconsin. Each of the two garden-style properties received a $7.7 million loan. Geneva Meadows Apartments is a 108-unit community in Lake Geneva, Wis., and Antioch Manor Apartments is a 145-unit property in Antioch, Ill. Kyle Jemtrud and Wilson Molitor of Greystone originated the nonrecourse loans, which feature fixed interest rates, seven-year terms, 30-year amortization schedules and interest-only payments for the entire term of the loan.

March 31, 2025

Development Loans Multifamily New Jersey Northeast

BHI Provides $35M Construction Loan for Jersey City Multifamily Project

by Taylor Williams March 31, 2025

JERSEY CITY, N.J. — BHI, the U.S. division of Israel’s Bank Hapoalim, has provided a $35 million construction loan for a 202-unit multifamily project in Jersey City. The development at 277-301 West Side Avenue will be a six-story building that will house 42 studios, 119 one-bedroom units, 32 two-bedroom apartments and nine three-bedroom residences. Ten percent of the units will be reserved as affordable housing, and the building will also feature 5,800 square feet of commercial space. Amenities will include a pool, fitness center, sauna, meditation room, rooftop terrace and outdoor grilling and dining stations. The borrower is Tay Investments.

March 31, 2025

Florida Loans Multifamily Southeast

Lynd Group Secures $132.5M Refinancing for Villas at Tuttle Royale Apartments in South Florida

by John Nelson March 31, 2025

ROYAL PALM BEACH, FLA. — The Lynd Group has secured a $132.5 million bridge loan from MF1 Capital to refinance the construction loan for The Villas at Tuttle Royale, a multifamily project in the Royal Palm Beach suburb of West Palm Beach. New York-based S3 Capital originally provided a $126 million construction loan to Lynd Group in March 2023 for the development. Situated at 11200 Nicole Drive, The Villas at Tuttle spans 26 buildings and comprises 401 units, including 55 townhomes with private two-car garages. The garden-style community offers one-, two-, three- and four-bedroom floorplans up to 2,035 square feet in size. Amenities include a two-story clubhouse with a sauna, fitness and wellness center, coffee bar, private dining areas, game room, community catering space, two lounges, coworking pods, a business center and a panoramic outdoor terrace. Additional outdoor offerings include a recreation deck with a resort-style pool, cold plunge, spas, cabanas, fire pits, pickleball courts, bike path and a playground. The Villas at Tuttle is located within the 200-acre mixed-use Tuttle Royale project.

March 31, 2025

Industrial Loans Top Stories

Clarion Provides Financing for 2.3 MSF National Industrial Outdoor Storage Portfolio

by Taylor Williams March 31, 2025

NEW YORK CITY — A fund backed by New York City-based Clarion Partners has provided an undisclosed amount of financing for a national portfolio of eight industrial outdoor storage (IOS) properties totaling 2.3 million square feet. Eastdil Secured arranged the debt and acted as an advisor on the deal. The debt is a first mortgage loan for the refinancing of the national portfolio, and the borrower is a partnership between Outour Storage Investments and affiliates of Cerberus Capital Management. The portfolio encompasses properties in Chicago, Phoenix, Las Vegas, Houston, California’s Inland Empire, Dallas-Fort Worth and Atlanta with an aggregate size in excess of 50 acres. The Clarion fund also acquired a 7.6-acre IOS facility at 15550 Export Plaza Drive in Houston. The Houston property was recently upgraded, includes a 24,000-square-foot structure and was fully leased at the time of sale to a waste management services company. “This portfolio is a relatively rare assembly of IOS properties with best-in-class specifications, terrific market locations and a strong roster of national and regional credit tenants,” says Brent Jenkins, portfolio manager at Clarion Partners. “This financing provides an ideal opportunity to expose our investors to this high-demand subsector within the larger industrial and logistics …

March 31, 2025

Loans Multifamily Student Housing Texas

BWE Arranges $23.5M Acquisition Loan for Student Housing Property Near Texas State University

by Taylor Williams March 28, 2025

SAN MARCOS, TEXAS — BWE, a Cleveland-based commercial financial services firm, has arranged a $23.5 million acquisition loan for The Edge, a 553-bed student housing property that serves students at Texas State University in San Marcos. The Edge is located less than a mile from campus and offers one-, two-, three- and four-bedroom floor plans across 173 units. Amenities include a fitness center, clubhouse, study areas and a basketball court. Chris Carroll and Max Miller of BWE arranged the financing through Chicago-based Byline Bank. The borrower, Campus Realty Advisors, plans to use a portion of the proceeds to fund capital improvements.

March 28, 2025

Arizona Development Loans Multifamily Western

ZOM Living Secures $88M in Financing, Breaks Ground on 416-Unit Azola Desert Ridge in Phoenix

by Amy Works March 28, 2025

PHOENIX — ZOM Living has secured financing for the development of Azola Desert Ridge, a multifamily community in Phoenix. The funding includes a joint venture equity investment from Origin Investments and construction financing totaling $88 million. Located along the Loop 101 Freeway at 56th Street, Azola Desert Ridge will offer 416 apartments spread across four-story buildings in a garden-style multifamily community that is slated to deliver by third-quarter 2026. Azola Desert Ridge will offer one-, two- and three-bedroom units ranging from 730 square feet to 1,533 square feet, a resort-style pool and deck, a fitness center, dog park, pet grooming salon, a glam room, podcast room, individual offices for residents and a self-service market along with lounge areas. Mike Higgins, Asher Gunter, Matt Pesch and Austin Groen of CBRE Multifamily Equity Advising team represented the sponsor to arrange the joint venture equity investment with Origin Investments.

March 28, 2025

Loans Multifamily Washington Western

Gantry Arranges $11M Refinancing for Grandview Place Apartments in Camas, Washington

by Amy Works March 28, 2025

CAMAS, WASH. — Gantry has secured an $11 million permanent loan to refinance maturing debt for Grandview Place Apartments in Camas, a suburb of Vancouver, Wash. Situated on 6.5 acres at 19420 SE 20th St., Grandview Place Apartments offers 154 one-, two- and three-bedroom floor plans spread across 21 buildings. Community amenities include a resort-style pool and clubhouse, fitness club facilities, executive business center, modern unit interiors and onsite storage units among other amenities. Blake Hering and Abi Hunter of Gantry represented the borrower, a private real estate investor, in arranging the 10-year, fixed-rate loan that was secured through a correspondent life company lender. Gantry will service the loan, which features a 30-year amortization.

March 28, 2025

Florida Loans Multifamily Southeast

Walker & Dunlop Arranges $28.4M Refinancing for Apartment Complex in Grenelefe, Florida

by John Nelson March 28, 2025

GRENELEFE, FLA. — Walker & Dunlop has arranged a $28.4 million loan to refinance Grand at Grenelefe, a 417-unit fractured multifamily property located in Grenelefe, roughly 46 miles south of Orlando. Harvey Pava of Walker & Dunlop’s Florida Capital Markets team arranged the loan on behalf of the borrower, Alya Equities. The fixed-rate loan features a 5-year term with a 12-month interest-only payment, as well as a step-down prepayment structure. Situated at 3119 Camelot Drive, the complex sits on more than 160 acres with a mix of one-, two- and three-bedroom floorplan options ranging up to 1,275 square feet. Amenities at the property include an onsite property manager, walking and biking trails, storage space, laundry facilities and a lounge.

March 28, 2025

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