Tuesday, July 22, 2025
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AcquisitionsAlabamaLoansRetailSoutheast

Eastern Union Secures $7M Acquisition Financing for Shopping Center in Birmingham

by John Nelson

BIRMINGHAM, ALA. — Eastern Union has secured $7 million in acquisition financing for Crestwood Festival Centre in Birmingham. Marc Tropp of Eastern Union arranged the financing on behalf of the buyer, CityWide Properties, which intends to invest $1.5 million in capital improvements at the 299,707-square-foot shopping center. The five-year loan includes a fixed interest rate of 4.6 percent with one year of interest-only payments. The investor purchased the property, which is shadow-anchored by The Home Depot, for $9.4 million. Built in 1989 on 41 acres, Crestwood Festival Centre comprises 44 retail suites and nearly 1,000 parking spaces. Notable tenants include Phoenix Theatres The Edge 12 Birmingham, Burlington, Mattress Warehouse and Dollar Tree.

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LoansMassachusettsNortheastRetail

Fantini & Gorga Arranges $12.5M in Financing for Metro Boston Retail Property

by Taylor Williams

BURLINGTON, MASS. — Locally based mortgage banking firm Fantini & Gorga has arranged $12.5 million in financing for One Wheeler Road, a 22,000-square-foot retail property located on the northern outskirts of Boston in Burlington. The undisclosed borrower will use the proceeds to redevelop One Wheeler Road and rebrand the property as Gateway Burlington. Casimir Groblewski and Colin Monahan of Fantini & Gorga placed the debt through a direct lender that also requested anonymity. Construction is underway and expected to be complete before the end of the year.

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LoansMidwestMinnesotaMultifamilyNorthmarq

Northmarq Provides $45M Loan for Refinancing of Apartment Complex in Fridley, Minnesota

by Kristin Harlow

FRIDLEY, MINN. — Northmarq has provided a $45 million Freddie Mac loan for the refinancing of Axle Apartments in the Minneapolis suburb of Fridley. The 262-unit apartment complex is located at 6530 University Ave. NE. Andy Finn and Dan Trebil of Northmarq arranged the 10-year, fixed-rate loan, which features seven years of interest-only payments followed by a 30-year amortization schedule. Roers Cos. was the borrower.

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IndustrialLoansNew JerseyNortheast

JLL Arranges Loan for Refinancing of 84,000 SF Industrial Property in Central New Jersey

by Taylor Williams

EAST BRUNSWICK, N.J. — JLL has arranged a loan of an undisclosed amount for the refinancing of Edgeboro Corporate Center, an 84,000-square-foot industrial property located in the Central New Jersey community of East Brunswick. The two-building complex was constructed in 1977 and features clear heights of 19 feet and 20 dock-high doors. Michael Klein, Jon Mikula and Michael Lachs of JLL arranged the financing through an undisclosed life insurance company on behalf of the borrower, New Jersey-based Denholtz Properties. The loan carried a 10-year term and a fixed interest rate.

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375-West-Whitney-Salt-Lake-City-UT
DevelopmentLoansMultifamilyUtahWestern

Square Mile Provides $61.8M Construction Loan for Multifamily Development in Salt Lake City

by Amy Works

SALT LAKE CITY — Square Mile Capital Management has originated a $61.8 million loan to finance the ground-up development of 375 West Whitney Avenue, a 264-unit apartment community in Salt Lake City. The borrower is Minneapolis-based Roers Cos., a full-service real estate development firm that has developed 50 properties totaling 5,400 units. Gary Sefcik and Phillip Gause of Marcus & Millichap arranged the financing. Upon delivery, the six-story 375 West Whitney will feature 12 studios, 157 one-bedroom units, 90 two-bedroom units and five three-bedroom units. All units will feature quartz countertops, stainless steel appliances, luxury vinyl tile flooring and expansive views. Community amenities will include a rooftop sky lounge and club room with mountain views, a golf simulator, group/game room, fitness center, yoga studio, an outdoor pool and underground parking.

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Everett-Street-Lofts-Portland-OR
LoansMixed-UseMultifamilyOregonRestaurantRetailWestern

Dwight Capital Provides $17.5M HUD Loan for Everett Street Lofts in Portland

by Amy Works

PORTLAND, ORE. — Dwight Capital has provided a $17.5 million HUD 223(f) loan for Everett Street Lofts, a mixed-used development in Portland. Josh Sasouness of Dwight Capital originated the transaction, and Lake Oswego-based McBride Capital was the correspondent. Built in 2021, the property features 117 apartments and three ground-floor retail spaces. Community amenities include a dog wash station, keyless security access system, indoor bicycle storage and in-unit washers/dryers. Mikiko Mochi Donuts and Concrete Treehouse Salon occupy the retail space.

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CaliforniaLoansOfficeWestern

PSRS Arranges $6.4M Refinancing for Harbor Cove Plaza in Rancho Palos Verdes, California

by Amy Works

RANCHO PALOS VERDES, CALIF. — PSRS has arranged a $6.4 million cash-out refinancing for an office property in Rancho Palos Verdes. Harbor Cove Plaza is a 45,837-square-foot, multi-tenant office building offering 65 units. Trevor Blood of PSRS secured the five-year loan with a 25-year amortization schedule. The name of the borrower was not released.

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LoansMultifamilyTexas

Greystone Provides $11M Fannie Mae Loan for Refinancing of Houston Apartments

by Taylor Williams

HOUSTON — Greystone has provided an $11 million Fannie Mae loan for the refinancing of Broadway Park, a 224-unit apartment complex in Houston. The property comprises 108 one-bedroom residences, 112 two-bedroom apartments and four three-bedroom units. D.J. Elefant and Dan Gillard led the Greystone team that secured the financing on behalf of the borrower, an entity doing business as Broadway Park-SI LLC. Bolder Capital arranged the fixed-rate debt, which carried a 10-year term and four years of interest-only payments. Since acquiring Broadway Park in 2019, the sponsor has invested more than $2.5 million in capital improvements.

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LoansRetailTexas

Schelin Uldricks Arranges $10.4M Loan for Refinancing of San Antonio Shopping Center

by Taylor Williams

SAN ANTONIO — Schelin Uldricks & Co., a California-based financial intermediary and advisory firm, has arranged a $10.4 million loan for the refinancing of Olmos Creek Shopping Center, a 102,254-square-foot retail property in San Antonio. Built in phases between 1996 and 2004, the center is leased to a mix of tenants in the fitness, food-and-beverage, entertainment and discount retail sectors. A California-based debt fund provided the funds. The borrower was not disclosed.

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AcquisitionsLoansMultifamilyNorthmarqSoutheastVirginia

Northmarq Arranges $6.7M Acquisition Loan for Apartment Community in Petersburg, Virginia

by John Nelson

PETERSBURG, VA. — Northmarq has arranged a $6.7 million acquisition loan for Mill Creek Apartments, a 95-unit multifamily community located at 2701-2732 in Petersburg. Hunter Wood, Keith Wells and Reina Abboud of Northmarq’s Richmond office arranged the five-year loan through a regional bank on behalf of the undisclosed borrower. The loan includes 12 months of interest-only payments followed by a 30-year amortization schedule. Built in 1976, Mill Creek is situated within a half-mile of two regional shopping destinations: South Crater Road Plaza and Burgess Shopping Center. The seller was not disclosed.

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