Loans

JLL Secures $27.2M Refinancing for 124-Unit Apartment Community in Denver

by Amy Works July 22, 2025

DENVER — JLL Capital Markets has arranged $27.2 million in refinancing for The Kenyon, a multifamily property at 777 E. 17th Ave. in Denver’s Uptown neighborhood. Kristian Lichtenfels and Mark Erland of JLL secured the financing for the borrower, the single-purpose joint venture entity of Corum Real Estate Group, ProspectHill Group and Geolo Capital. Delivered in May 2024, The Kenyon offers 124 studio, one- and two-bedroom apartments with 40 unique floor plans, including 27 balcony units and 17 split-level mezzanine units. Community amenities include a two-story fitness center, private work pods and a rooftop deck with grills.

July 22, 2025

Hospitality Loans New York Northeast

JLL Arranges $54M Loan for Refinancing of Long Island Hotel

by Taylor Williams July 22, 2025

SAG HARBOR, N.Y. — JLL has arranged a $54 million loan for the refinancing of Baron’s Cove, a 67-room boutique hotel located in Sag Harbor on Long Island. Built in the late 1950s and renovated in 2015, the property features lofted suites and amenities such as a saltwater pool, lounge, complimentary bicycles and kayaks, a wellness center, tennis court and onsite food-and-beverage options. Kevin Davis, Mark Fisher, Jillian Mariutti and Connor Medzigian of JLL arranged the three-year, floating-rate loan through funds managed by private equity firm Blue Owl Capital. The borrower, a partnership between Blue Flag Capital and Bain Capital Real Estate, will use a portion of proceeds to fund capital improvements.

July 22, 2025

Features Georgia Loans Southeast Southeast Feature Archive

Borrowers Win When Their Banks Partner With C-PACE Lenders

by John Nelson July 22, 2025

Interview by John Nelson Commercial Property Assessed Clean Energy (C-PACE) financing is a lending option that is gaining traction in the commercial real estate lending world. This type of financing is beneficial for owners who are looking to finance their new construction or redevelopments with long-term debt. Rafi Golberstein, founder and CEO of PACE Loan Group (PLG), a C-PACE lender with offices in New York City, San Diego, Chicago and Minneapolis, says that what many borrowers are now finding out is how adaptable this loan structure is, especially when paired with traditional bank financing. “C-PACE as a product type is not just living and breathing — it’s expanding,” says Golberstein. Originated in Berkeley, Calif., in 2008, C-PACE financing is now available in 40 states and Washington, D.C. It serves as an alternative funding source for commercial projects that qualify on the basis that they will result in reduced energy and water usage and greater building efficiency. C-PACE is not a federal program as it is overseen at the state or local level, with some states allowing local governments to administer the program. “States are making their legislation more broad, which allows us to get more projects done and larger checks …

July 22, 2025

Loans Maryland Retail Southeast

First National Realty Completes Refinancing of 231,036 SF Power Retail Center in Metro D.C.

by Abby Cox July 21, 2025

BRANDYWINE, MD. — First National Realty Partners (FNRP) has completed the refinancing of Brandywine Crossing, a 231,036-square-foot regional power retail center located in Brandywine, approximately 20 miles southeast of Washington, D.C. The four-year loan includes future funding for approved leasing expenses and the facilitation of the release of escrowed funds held by the previous lender. Since acquiring the center in March 2022, FNRP has increased occupancy from 89 percent to 95 percent by securing 12 new leases and six renewals with tenants including Marshalls, Visionworks and Salon Lofts. The firm also secured a lease with Burlington to backfill a former 25,310-square-foot JOANN Fabric and Crafts store. The next step for Brandywine Crossing will be constructing the build-outs for Burlington, Buffalo Wild Wings ‘GO’ and Another Broken Egg Café. The firm is also pursuing additional tenants and exploring outparcel sale opportunities. Brandywine Crossing sits on a 30-acre site and is anchored by a nearly 60,000-square-foot Safeway grocery store. Other existing tenants include Bonefish Grill, Panda Express, Advance Auto Parts, Truist Bank, Wells Fargo, AT&T and The UPS Store.

July 21, 2025

Colorado Loans Multifamily Western

Dwight Mortgage Trust Provides $43M Bridge Loan for Avian Apartments in Colorado Springs

by Amy Works July 21, 2025

COLORADO SPRINGS, COLO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $43 million bridge loan to refinance Avian, a multifamily community in downtown Colorado Springs. Avian features 148 apartments, a parking garage, resort-style pool, gym and work-from-home lounges. Brandon Baksh and Talisse Thompson of Dwight Capital originated the loan for the sponsor, Jackson Dearborn Partners. Dwight closed the loan upon issuance of the initial Temporary Certificate of Occupancy. Proceeds were used to repay the project’s construction loan and fund transaction-related costs.

July 21, 2025

Development Loans Multifamily New York Northeast Top Stories

SCALE Lending Provides $305M Construction Loan for Bronx Multifamily Project

by Taylor Williams July 21, 2025

NEW YORK CITY — SCALE Lending, the debt financing arm of New York City-based Slate Property Group, has provided a $305 million construction loan for a new multifamily project in the Mott Haven area of The Bronx. The borrower is locally based development and investment firm The Beitel Group. The unnamed project will comprise two interconnected buildings that will rise 40 and 26 floors and house 755 studio, one- and two-bedroom apartments. Amenities will include an outdoor pool, large outdoor terrace, gym with sauna and steam room, pickleball court, golf simulator, coworking area, party room and children’s play room, as well as 11,500 square feet of retail space. Beitel Group bought the land at 355 Exterior St., which is situated along the Harlem River, last fall and subsequently demolished all existing structures. Prestige Construction NY is serving as the general contractor for the project, which has been vested into the city’s 421a program for inclusion of an affordable housing component. Landstone Capital Group arranged the construction loan, which carries an 18-month term with two six-month extension options, through SCALE Lending on behalf of Beitel Group. Construction is slated for a June 2026 completion. “The Mott Haven submarket of New York …

July 21, 2025

Idaho Industrial Loans Western

Bow River Capital Receives $70.3M Refinancing for Park84 Industrial Property in Nampa, Idaho

by Amy Works July 18, 2025

NAMPA, IDAHO — Bow River Capital has received $70.3 million for the refinancing of Park84, a Class A industrial property in Nampa, 20 minutes from downtown Boise, Idaho. Leon McBroom, Rob Bova and Ellie Savage of JLL Capital Markets arranged the floating-rate financing for the borrower. Completed in July 2024, Park84 features seven industrial buildings totaling 605,570 square feet on 47.8 acres. The buildings, which are divisible as small as 16,917 square feet, offer 32-foot clear heights, clerestory and LED lighting, ESFR sprinklers, ample 480V power, outdoor storage and trailer parking.

July 18, 2025

Loans Retail Utah Western

Calmwater Capital Provides $22.8M Refinancing for Retail Center in Park City, Utah

by Amy Works July 18, 2025

PARK CITY, UTAH — El Segundo, Calif.-based Calmwater Capital has provided a $22.8 million bridge loan to refinance Kimball on Main Street, a 25,429-square-foot retail center located within the Historic Old Town area of downtown Park City. Stanton Road Capital was the borrower, while DaJuan Bennett of Calmwater internally represented the firm. Originally built in 1990 and renovated in 2018, the property features seven storefronts, a second-floor event space that serves the Sundance Film Festival and a recently constructed three-story building. Kimball on Main Street is currently 83 percent leased and comprises a mix of tenants such as Arhaus, Free People, Sunglass Hut, Romy Park City, We Norwegians and The Collective. Stanton Road Capital acquired the property in 2022.

July 18, 2025

Georgia Loans Mixed-Use Southeast

CCI Real Estate Obtains $67M in Construction Financing for Mixed-Use Community at University of Georgia

by Abby Cox July 18, 2025

ATHENS, GA. — CCI Real Estate has obtained $67 million in construction financing for the redevelopment of the Baptist Collegiate Ministries (BCM) building at the University of Georgia (UGA) in Athens. Affinius Capital provided financing for the mixed-use redevelopment project. New South Construction will serve as the general contractor on the project, which is slated for completion by June 2027. Dubbed 290 Lumpkin, the eight-story development will serve as the new location for UGA BCM and will offer 240 residential units that will feature one- and two-bedroom apartments. Amenities will include a 356-space parking deck, rooftop deck, student lounge, offices and new ministry spaces that can accommodate more than 500 people. Additionally, the ground floor will include retail space, a coffeehouse and a fitness center. Originally housed at 450 S. Lumpkin St., BCM has been active on UGA’s campus since 1961. CCI is also redeveloping the BCMs at the Georgia Institute of Technology in Atlanta, as well as Georgia Southern University in Statesboro, Ga.

July 18, 2025

Build-to-Rent Florida Loans Multifamily Southeast

JLL Arranges $26M Construction Loan for 132-Unit Build-to-Rent Community in Wildwood, Florida

by Abby Cox July 18, 2025

WILDWOOD, FLA. — JLL Capital Markets has arranged a $26 million construction take-out bridge loan for Magnolia at Powell, a newly constructed, 132-unit build-to-rent residential community in Wildwood, roughly 50 miles outside Orlando. Max La Cava, Melissa Quinn, Bob Rothaug and Jade Starkey of JLL’s Debt Advisory team arranged the three-year, floating-rate loan on behalf of the borrower, Agador Spartacus Development, through a domestic investment management firm and its international mezzanine debt partner. Completed in January 2025, Magnolia at Powell is situated just outside of The Villages and is currently 40 percent occupied. The complex, which is an age-inclusive housing option, offers one-, two- and three-bedroom townhomes averaging 1,162 square feet in size. Amenities include a resort-style swimming pool, fitness center, pickleball court and a dog park. Monthly rental rates for a one-bedroom townhome at Magnolia at Powell begin at $1,350, according to Apartments.com.

July 18, 2025

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