Loans

KeyBank Funds $32.3M Agency Loan for Refinancing of Metro Austin Apartment Community

by Taylor Williams September 1, 2023

GEORGETOWN, TEXAS — KeyBank Real Estate Capital has provided a $32.3 million Fannie Mae loan for the refinancing of Williamson at the Overlook, a 270-unit apartment community located in the northern Austin suburb of Georgetown. Built in 2019, the property offers one-, two- and three-bedroom units and amenities such as a pool with cabanas and grilling areas, a 24-hour fitness center, cybercafé, clubroom and an entertainment kitchen. Timothy DeWispelaere and Eric Jones of KeyBank originated the fixed-rate financing on behalf of the borrower, RSE Capital Partners.

September 1, 2023

Affordable Housing Development Loans Multifamily Texas

Amegy Bank Provides $25M Construction Loan for Houston Affordable Housing Project

by Taylor Williams September 1, 2023

HOUSTON — Regional lender Amegy Bank has provided a $25 million construction loan for NHH Gray, a 135-unit affordable housing project that will be located in Houston’s Northline neighborhood. The property will offer one-, two- and three-bedroom units that will be reserved for low- to moderate-income residents and amenities such as a community kitchen, lounge, library and meeting/social service offices. The building will also house a preschool that residents’ children can attend free of charge. The borrower is New Hope Housing. Construction is scheduled to begin in October and to be complete in summer 2025.

September 1, 2023

Development Hospitality Loans Washington Western

Developer Receives $52M Construction Loan for The Somm Hotel and Spa in Woodinville, Washington

by Amy Works September 1, 2023

WOODINVILLE, WASH. — Developer Woodinville Hotel Partners has received a $52 million loan for the construction of The Somm Hotel and Spa, Autograph Collection in Woodinville, approximately 20 miles northeast of Seattle. The 164-room resort will feature a 5,661-square-foot spa; full-service restaurant with a private dining room; 3,000-square-foot rooftop bar with view of Mount Rainier; meeting space; and 9,000 square feet of retail space. The hotel will be the centerpiece of Harvest Wine Village, a 20-acre, master-planned development with nearly 100,000 square feet of retail space and a variety of residential spaces. Dallas-based HALL Structured Finance originated the loan for the borrowers. Brian Holstein of US Hotel Advisors brokered the financing.

September 1, 2023

Development Loans Multifamily North Carolina Southeast

FCP Provides $13.9M in Preferred Equity for Multifamily Development in Charlotte

by John Nelson August 31, 2023

CHARLOTTE, N.C. — FCP has provided $13.9 million in preferred equity for the development of Easton at Mountain Island, a 240-unit apartment community located along Garron Point Drive in Charlotte. FCP provided the capital to the developer, Waypoint Residential, through its Structured Investments platform, which has invested approximately $640 million to date. When complete, Easton at Mountain Island will be situated on nearly 20 acres near the Catawba River and Charlotte Douglas International Airport.

August 31, 2023

Affordable Housing Loans Multifamily Texas

Amegy Bank Provides $25M Construction Loan for Houston Affordable Housing Project

by Taylor Williams August 31, 2023

HOUSTON — Regional lender Amegy Bank has provided a $25 million construction loan for NHH Berry, a 180-unit affordable housing project that will be located in Houston’s Third Ward. The property will offer one-, two- and three-bedroom units that will be reserved for low- to moderate-income residents and amenities such as a community kitchen, lounge, library and meeting/social service offices. The building will also house a preschool that residents’ children can attend free of charge. The borrower is New Hope Housing. Construction is scheduled to begin in October and to be complete in summer 2025.

August 31, 2023

Delaware Development Industrial Loans Northeast

JLL Arranges $56.3M Construction Loan for Industrial Project in Claymont, Delaware

by Taylor Williams August 31, 2023

CLAYMONT, DEL. — JLL has arranged a $56.3 million construction loan for Tri-State Industrial, a 525,000-square-foot project that will be located about 25 miles outside of Philadelphia in Claymont, Delaware. The property will feature 40-foot clear heights, an ESFR sprinkler system, 130-foot truck court depths, four drive-in ramps with overhead doors and ample trailer and car parking. Chris Drew, Mike Pagniucci and Michael DiCosimo of JLL arranged the loan through Principal Asset Management on behalf of the borrower, a partnership between New York City-based KPR Centers and Los Angeles-based PCCP LLC.

August 31, 2023

Loans Multifamily Oregon Western

Dwight Mortgage Trust Provides $44M Bridge Loan for Timberview Apartments in Oregon City

by Amy Works August 31, 2023

OREGON CITY, ORE. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has funded a $44 million bridge loan for Timberview Apartments & Townhomes in Oregon City. Situated on 9.6 acres, the newly constructed community features 180 apartments spread across 11 residential buildings. Additionally, the property features a clubhouse with a lounge and fireplace, a fitness center, bike lounge, dog wash and pool with a sundeck. Proceeds from the bridge loan will be used to retire the existing construction debt. McBride Capital brokered the transaction for the borrower, Pahlisch Commercial.

August 31, 2023

Loans Midwest Minnesota Multifamily

JLL Arranges $68.9M in Construction Financing for Apartment Community in Suburban Minneapolis

by Kristin Harlow August 31, 2023

EDEN PRAIRIE, MINN. — JLL Capital Markets has arranged joint venture equity and construction financing totaling $68.9 million for Golden Triangle Station, a 237-unit apartment community in the Golden Triangle neighborhood of Eden Prairie. Greco and Eagle Ridge Partners were the borrowers. JLL arranged a $47 million construction loan through a regional bank and $21.9 million in joint venture equity from Amstar Group. Slated to break ground this fall, the project will include 315 underground parking spaces. Units will come in studios, one-, two- and three-bedroom layouts. Amenities will include an outdoor pool, spa, theater room, clubroom, private dining and pickleball courts. As part of Eden Prairie’s inclusionary zoning, roughly 25 percent of the units will be rented at 50 and 80 percent of the area median income. As a result, the project has received support from city staff, including the approval of a tax-increment financing structure. Josh Talberg, Scott Loving, Matthew Schoenfeldt, Colin Ryan, Dan Linnell and Mox Gunderson made up the JLL team representing the borrower.

August 31, 2023

Loans Office Southeast Tennessee

Canyon Partners, J.P. Morgan Provide $174.6M Recapitalization Loan for One22One Office Tower in Nashville

by John Nelson August 30, 2023

NASHVILLE, TENN. — Canyon Partners Real Estate and J.P. Morgan have co-originated a $174.6 million construction loan for the recapitalization of One22One, a 24-story office tower in Nashville. The borrower, a joint venture between locally based GBT Realty and Koch Real Estate Investments, delivered the Class A property last summer. One22One comprises 373,232 square feet of office space, 16,938 square feet of retail space and 13 stories of parking totaling 930 spaces. Amenities include a conference center, outdoor terrace overlooking downtown Nashville, tenant lounge, port cochere and a fitness center. Tenants include law firm Bradley Arant Boult Cummings LLP, FirstBank, which will also relocate its headquarters to One22One, and Slalom, a global management consulting company.

August 30, 2023

Development Loans Multifamily South Carolina Southeast

GBT Realty Obtains $88M Construction Loan for Village at Carnes Crossroads Apartments in Metro Charleston

by John Nelson August 30, 2023

SUMMERVILLE, S.C. — Brentwood, Tenn.-based development firm GBT Realty Corp. has obtained an $88 million construction loan for The Village at Carnes Crossroads, a 306-unit multifamily community in Summerville. The property will be the latest multifamily component for the 2,300-acre Carnes Crossroads master-planned development in metro Charleston. Matt Stewart and Chip Sykes of JLL arranged the loan through Bank of America and Meta Real Estate Partners. The multifamily community will be situated directly across from The Marketplace at Carnes Crossroads, a Publix-anchored shopping center. Set to open first units in spring 2025, The Village at Carnes Crossroads will feature a mix of studio, one-, two- and three-bedroom units. Amenities will include separate small- and large-breed dog parks, a resort-style saltwater pool with lounge deck, outdoor kitchen, club room with catering kitchen and golf stimulator, fitness complex and a coworking center, as well as 11,000 square feet of retail space. The design-build team includes architect Dynamik Design, civil engineer Thomas & Hutton and general contractor Samet Corp.

August 30, 2023

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