SUITLAND and LARGO, MD. — Colliers has arranged 232.7 million in acquisition financing for a three-property multifamily portfolio located in Prince George County. 29th Street Capital and Willton purchased the property for an undisclosed price. Shahin Yazdi and Jonathan Lee of Colliers arranged the five-year, fixed-rate loan on behalf of the buyers. The full-term, interest-only loan features a 70 percent loan-to-purchase price. Loan proceeds reassigned existing tax increment financing (TIF) agreements associated with Allure Apollo and Aspire Apollo. Allure Apollo and Aspire Apollo are adjacent multifamily communities located in Suitland, Md., and operate as a single residential campus totaling 801 units. The properties feature a mix of studio, one-, two- and three-bedroom units with a full suite of tenant amenities. Ascend Apollo, located approximately 10 miles away along I-495 near the Joint Base Andrews military facility in Largo, comprises 424 units with a similar unit mix and similar amenities such as a resort-style swimming pool with a sundeck, clubhouse, business center and fitness center, among others.
NEW YORK CITY — Cushman & Wakefield and Greystone Capital Advisors have co-arranged an $800 million loan for the refinancing of 550 Madison Avenue, a 41-story, roughly 685,000-square-foot office building in Midtown Manhattan. The borrower is The Olayan Group, a family-owned international investment firm. A consortium of lenders led by Rothesay, a pension insurance company based in the United Kingdom, and ING Capital provided the debt. Several other lending institutions and insurance companies, including Crédit Agricole CIB, BBVA, BNP Paribas, Société Générale and Chubb, also participated in the financing. John Alascio, Gideon Gil, Alexander Hernandez, Alex Lapidus, Zach Kraft, Meredith Donovan and Cecelia Galligan led the transaction for Cushman & Wakefield. The team collaborated with Greystone’s Drew Fletcher, Bryan Grover and Jesse Kopecky to place the debt on behalf of ownership. According to Wikipedia, the building was originally constructed in 1984 as the headquarters of AT&T Corp. and would later house the headquarters of Sony. Olayan Group acquired 550 Madison Avenue in 2016 and subsequently implemented a $300 million capital improvement program. Designed by Norwegian architecture firm Snøhetta, the renovation repositioned the former single-tenant headquarters building into a multi-tenant workplace destination. Building features include a triple-height lobby, a half-acre public …
ROUND ROCK, TEXAS — California-based Mark IV Capital has received an $86 million construction loan for Phase I of The District, a mixed-use project that will be located in the northern Austin suburb of Round Rock. The site is adjacent to the headquarters campus of Dell, and Phase I of The District will feature a 316-unit apartment complex that will be known as Origin at The District and that will include 23,042 square feet of ground-floor retail and restaurant space. Units will come in studio, one- and two-bedroom floor plans, and amenities will include a pool, fitness center, clubhouse lounge and outdoor entertainment spaces. Phase I will also include a 40,750-square-foot food-and-beverage plaza that will comprise six buildings with tenant spaces ranging in size from 1,500 to 11,750 square feet. Vertical construction of Origin is now underway, and completion of Phase I is slated for early 2028. George Smith Partners arranged the financing through BDT & MSD Partners and an affiliate of global private equity firm Apollo.
STAMFORD, CONN. — Newmark has arranged a $51.8 million acquisition loan for Metro Center, a 282,589-square-foot office building in the southern coastal Connecticut city of Stamford. Metro Center was originally built in 1987 and has undergone more than $12 million in recent capital improvements. Tenants include law firm Robinson + Cole and Roth Capital. Christopher Kramer, Chris Lozinak and Jordan Roeschlaub of Newmark arranged the loan through Knighthead Funding on behalf of the new owner, local investment firm HB Nitkin Group. Newmark also represented the undisclosed seller in the disposition of the building and has been retained as the leasing agent.
SEDONA, ARIZ. — JLL Hotels & Hospitality Group has arranged $37 million in nonrecourse refinancing for Ambiente, an adults-only luxury hotel in Sedona. Adrienne Andrews and Jessica Mehra of JLL secured the refinancing through a debt fund. The transaction provides a significant cash-out component, recapitalizing the asset for continued operations and future growth. Located at 900 W. State Route 89A, Ambiente features 40 glass guest atriums on a 3-acre site. The accommodations feature floor-to-ceiling windows, private rooftop decks with fireplaces and curated interior finishes. Onsite amenities include Forty1 restaurant, Velvet Spa and 600 square feet of event space. The landscape hotel is one of Arizona’s only two Michelin Key hotels.
MIAMI — Walker & Dunlop has arranged $80 million in construction financing for 10290 East Bay Harbor Drive, a luxury multifamily development on Bay Harbor Islands in Miami. Adam Schwartz, Jonathan Schwartz, Aaron Appel, Keith Kurland, Sean Reimer, Michael Diaz and Michael Ianno of Walker & Dunlop arranged the floating-rate, interest-only loan through New York-based Madison Realty Capital on behalf of the borrower, Clara Homes. 10290 East Bay Harbor Drive is the third apartment complex located within a three-phased master-planned development on Bay Harbor Islands. The six-story apartment building will total 250,000 square feet with 77 units, according to South Florida Business Journal, bringing Clara Homes to 150 luxury apartments on the Bay Harbor Islands. Amenities at the complex will include a rooftop swimming pool with panoramic views, fitness center and an outdoor yoga studio. 10290 East Bay Harbor Drive is also situated near Bal Harbour Shops, which is currently undergoing a $550 million redevelopment.
DACULA, GA. — Indiana-based Thompson Thrift will develop Lineage, a 300-unit multifamily project in Dacula, an Atlanta suburb in Gwinnett County. The development will be capitalized with equity from Thompson Thrift’s 2026 Multifamily Development LP fund, while PNC Bank will provide construction financing for the project. Lineage marks Thompson Thrift’s 100th multifamily community to be developed nationwide. Spanning nearly 15 acres at the Harbins Road and Ga. State Route 316 interchange, Lineage will comprise four-story buildings with one-, two- and three-bedroom floorplans. Select homes will feature private patio, balcony and yard options, as well as detached garages, high-speed internet access and an Amazon package hub. Amenities will include a golf simulator, swimming pool, fitness center, pickleball court, lounges, coworking and conference space, a dog park, pet spa, outdoor firepits and grilling areas, event space and landscaped courtyards. Additionally, more than 9,500 square feet of street-level retail space will be designed with outdoor seating, “play” space and a designated area for outdoor concerts.
BLOOMINGTON, IND. — Maverick Commercial Mortgage and American Mortgage & Realty have arranged construction financing for ONE15 Lofts on Kirkwood, a $26 million condominium project in Bloomington. First Farmers Bank & Trust provided the 36-month loan, which features interest-only payments. Construction is underway on the project, which is developed by Randy Lloyd of Clearpath Services. The development site at 115 E. Kirkwood Ave. was formerly a surface parking lot adjacent to CVS and directly across from the historic Buskirk-Chumley Theater. The five-story project will feature 17 luxury condominiums, 90 percent of which are pre-sold. Units will range from 1,600 to over 4,000 square feet. The first two floors will feature a new restaurant concept by Cassady’s, the owners of Uptown Café. The project team includes Kunkel Design Group, Genesis Build and interior designer Lindsay Taylor Bell. Kerry Feigenbaum of FC Tucker/Bloomington Realtors is handling residential sales. Completion is slated for 2027.
COLUMBUS, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged $12.7 million in acquisition financing for Columbus EZ Travel Center, a gas station and convenience store in East Texas. Ron Balys of MMCC originated the 10-year loan, which carries a 6.5 percent interest rate, 30-year amortization schedule and a 65 percent loan-to-value ratio. The borrower and direct lender were not disclosed.
DODGE CITY, KAN. — Ariel Property Advisors’ Capital Services Group has secured a $12.4 million acquisition loan for a 108-room Hampton Inn & Suites hotel in Dodge City within southwest Kansas. Matt Swerdlow and Matthew Dzbanek of Ariel arranged the fixed-rate loan through a regional balance sheet lender. The loan featured a 6.5 percent interest rate and a 25-year amortization schedule.