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CaliforniaLoansMultifamilyWalker & DunlopWestern

Walker & Dunlop Arranges $81M Refinancing for Enclave Heritage Flats in Chula Vista, California

by Amy Works

CHULA VISTA, CALIF. — Walker & Dunlop has arranged an $81 million loan for the refinancing of Enclave Heritage Flats, a low-rise apartment complex in Chula Vista. Located at 1800 Santa Carolina Road, Enclave Heritage Flats offers 312 one-, two- and three-bedroom floor plans. Amenities at the pet-friendly community include a fitness center, resort-style swimming pool and movie screening theater. Gregory Richardson of Walker & Dunlop Capital Markets, along with Andrew Yaroma, Kimberly Schmitz and Terri Magnani of Walker & Dunlop Investment Partners, arranged the loan for the borrower, Baldwin and Sons LLC.

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ColoradoLoansMultifamilyWestern

Inland Mortgage Capital Originates $18.3M Bridge Loan for Multifamily Property in Colorado

by Amy Works

EVANS, COLO. — Inland Mortgage Capital has originated and closed an $18.3 million nonrecourse bridge loan for a multifamily community in Evans. Located two miles from the University of Northern Colorado, the 192-unit property primarily serves as a student housing community. At the time of financing, the community was 86 percent leased. The undisclosed borrower plans to use the capital for interior and exterior renovations, including upgraded flooring, cabinets and appliances in each unit. All common area amenities will also be updated, including a new clubhouse, resort-style pool, pickleball court, 24-hour fitness center, an outdoor gaming area, two dog parks and a pet spa.

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Dean-Apts-Reno-NV
LoansMultifamilyNevadaStudent HousingWestern

Northmarq Arranges $78.5M Refinancing for 773-Bed Student Housing Community in Reno, Nevada

by Amy Works

RENO, NEV. — Northmarq has arranged a $78.5 million refinancing for The Dean Reno, a 773-bed student housing property located near the University of Nevada, Reno. Built in 2023, the community offers fully furnished units alongside shared amenities including a cyber lounge, fitness center, yoga studio and grilling stations. Justin Glasgow of Northmarq secured the financing through Heitman on behalf of the borrowers, GMH Communities and CRG. Terms of the financing were not released. 

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GeorgiaLoansMultifamilySoutheast

AEW Provides $75M Loan to Refinance High-Rise Multifamily Complex in Midtown Atlanta

by John Nelson

ATLANTA — AEW Capital Management has provided a $75 million loan to refinance the construction loan for The Hadley, a 300-unit, high-rise multifamily complex located in Midtown Atlanta. The borrower was not disclosed, but a joint venture between StreetLights Residential and PGIM Real Estate completed the project in 2023. Situated at 770 Juniper St. NE, The Hadley features studios, one-, two- and three bedrooms ranging from 534 square feet to 1,716 square feet, according to Apartments.com. Amenities at the property include a fitness center, private resident bar, onsite coffee lounge and coworking space, dog park and spa, gated parking garage and a rooftop swimming pool with cabanas. The property was nearly fully occupied at the time of financing.

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Main-&-Mill-Lewisville
LoansMultifamilyTexas

Affinius Capital Provides $34M Loan for Refinancing of Metro Dallas Apartment Complex

by Taylor Williams

LEWISVILLE, TEXAS — Affinius Capital has provided a $34 million loan for the refinancing of Main & Mill, a 203-unit apartment complex located in the northern Dallas suburb of Lewisville. Main & Mill houses 143 one-bedroom and 60 two-bedroom units, as well as 6,400 square feet of retail space. Residences are furnished with quartz countertops, stainless steel appliances, walk-in closets and full-size washers and dryers. Select units offer private patios and balconies. Amenities include a pool, fitness center, community kitchen, coworking space and outdoor courtyards. Lauren Kaufman of JLL arranged the loan on behalf of the owner, AMAC Development.

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DevelopmentLoansMultifamilyNew YorkNortheastWalker & Dunlop

Walker & Dunlop Arranges $158M Construction Loan for Manhattan Multifamily Project

by Taylor Williams

NEW YORK CITY — Walker & Dunlop has arranged a $158 million construction loan for an 83-unit multifamily project in Manhattan’s Turtle Bay neighborhood. The 26-story building at 401 East 51st St. will feature for-sale condominium residences, with units to be offered in studio, one-, two-, three-and four-bedroom floor plans. The building will also house a five-bedroom penthouse. Amenities will include a fitness center, resident lounge and a private dining area. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer and Sean Bastian of Walker & Dunlop arranged the financing through TYKO Capital on behalf of the borrower, CBSK Developers.

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TSB-Apts-Tucson-AZ.jpg
ArizonaDevelopmentLoansMultifamilyStudent HousingWestern

TSB Capital Secures Construction Financing for 532-Bed Student Housing Development Near University of Arizona

by Amy Works

TUCSON, ARIZ. — TSB Capital Advisors has secured construction financing for a 532-bed student housing development near the University of Arizona campus in Tucson. The project, which is being developed by Capstone Collegiate Communities, will offer units in studio, one-, two-, three-, four-, five- and six-bedroom configurations. Shared amenities are set to include a resort-style pool, sundeck, coffee bar, courtyard, multimedia room, hammock lounge, fitness center, cold plunge, sauna, clubhouse, grilling stations, tanning rooms, green spaces, private and group study lounges and an outdoor kitchen and dining area. The community is scheduled for completion in fall 2027. An undisclosed Fortune 100 insurance company provided the financing.

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DevelopmentLoansMichiganMidwestMultifamilySeniors Housing

CHC, FHL Bank Atlanta Provide Financing for 60-Unit Affordable Seniors Housing Project in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — Community Housing Capital (CHC) and the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) have provided financing for John Grace Arms, an affordable seniors housing project in Southfield. Sourced from FHLBank Atlanta’s Affordable Housing Program (AHP) general fund and administered through CHC, a member of FHLBank, the financing totals $750,000 in grant funding. An adaptive redevelopment of a historic school building, John Grace Arms will total 60 rental units with 5,000 square feet of community space. MiSide is the developer of the project, which is scheduled for completion in 2026. 

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LoansMassachusettsMultifamilyNortheast

MMCC Arranges $3.4M Loan for Refinancing of Cambridge Apartment Building

by Taylor Williams

CAMBRIDGE, MASS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.4 million loan for the refinancing of a 16-unit apartment building in Cambridge, located across the Charles River from Boston. According to Zillow.com, the building at 891 Massachusetts Ave. offers one- and two-bedroom units. Robert Damigella of MMCC arranged the nonrecourse loan, which carries a fixed interest rate of 7.12 percent and a 65 percent loan-to-value ratio, through a local credit union. The sponsor was not disclosed.

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CaliforniaLoansMultifamilySeniors HousingWestern

Forbright Provides $44M HUD-Insured Financing for Seniors Housing Facility in Silicon Valley

by Amy Works

SAN JOSE, CALIF. — Forbright Bank has provided a $44.2 million HUD-insured loan to finance a 318-bed skilled nursing, assisted living and memory care facility located in the Silicon Valley city of San Jose. Further details about the property were not released. Provided under the HUD 232/223(f) program, the 35-year, fully amortizing term loan will be used to refinance existing Forbright Bank bridge and partnership debt, as well as cover the cost of recent capital expenditures and critical repairs. Forbright originally provided acquisition financing and a line of credit for working capital for the undisclosed borrower in 2022. 

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