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Loans

The-Greyson-Jersey-City
DevelopmentLoansMultifamilyNew JerseyNortheast

TYKO Capital Provides $245M Construction Loan for Jersey City Multifamily Project

by Taylor Williams

JERSEY CITY, N.J. — TYKO Capital has provided a $245 million construction loan for The Greyson, a 622-unit multifamily project in Jersey City. The Greyson will be a 28-story building in the city’s Journal Square neighborhood that will offer studio, one-, two- and three-bedroom units. The property will also house 44,551 square feet of office space and 2,965 square feet of retail space. Amenities will include a rooftop pool, fitness center, virtual reality and sports rooms and other communal gathering spaces. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the loan on behalf of the developer, Nasser Freres.

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DevelopmentFloridaLoansOfficeSoutheast

Taubco, Landau Secure $74M Construction Loan for Office Project on Miami’s Bay Harbor Islands

by John Nelson

MIAMI — A joint venture between Taubco and Landau Properties has secured a $74 million construction loan for One Kane Concourse, the only Class A office development on Bay Harbor Islands in Miami. The 125,000-square-foot project is also the only Miami office building that will offer private boat access and dockage. 3650 Capital provided the loan. Located at 9551 E. Bay Harbor Drive, the waterfront building will be situated adjacent to Bal Harbor Shops and feature a ground-floor restaurant, private outdoor space and a rooftop terrace. Miami-based architect Luis Revuelta designed the seven-story office project. Taubco and Landau have tapped Brian Gale, Andrew Trench, Ryan Holtzman and Edward Quinon of Cushman & Wakefield for the leasing assignment at One Kane Concourse. The developers plan to wrap up construction by late 2026.

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DevelopmentFloridaLoansMultifamilySoutheast

Neology Development Obtains $63.5M Bridge Loan from Starwood for Miami Multifamily Project

by John Nelson

MIAMI — Neology Development Group has obtained a $63.5 million bridge loan from Starwood Property Trust to pay off the construction loan for Fourteen Main Street Residences, a multifamily development located along downtown Miami’s historic 36th Street. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia arranged the financing on behalf of Neology and American Opportunity Zone Advisors, a group led by Peter Linneman. Berkadia also arranged the original $57.5 million construction loan through Churchill Real Estate to fund Neology’s third project in Miami’s Allapattah neighborhood. Upon completion, the development will feature 237 units that will range in size from 450 to 1,000 square feet across two buildings named the Highrise and Midrise. The 14-story Highrise will include studio, one- and two-bedroom floor plans, and the five-story Midrise will include two-bedroom walk-up homes and two-bedroom apartment units. The development will also include ground-level retail space. Amenities will include a multipurpose lobby, coworking spaces, outdoor movie screen, 12,000-square-foot rooftop pool and clubhouse, poolside cabanas, fitness and wellness center, yoga and cardio studio, dog park, bike storage, smart package lockers, parking garage with electric vehicle charging stations and a rideshare lobby. Fourteen Main Street Residences is on track to receiving …

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Parc-Germann-Industrial-Park-Chandler-AZ
ArizonaIndustrialLoansWestern

Gantry Secures $39.5M in Refinancing for Two Industrial Properties in Arizona

by Amy Works

CHANDLER AND MESA, ARIZ. — Gantry has secured a total of $39.5 million in permanent loans for the owner of Parc Germann Industrial Park and Ray Industrial Park. Located at 2215 and 2225 E. Germann Road in Chandler, Parc Germann offers 225,000 square feet of fully occupied industrial space spread across two buildings. Located at 7535 E. Ray Road in Mesa, Ray Industrial Park offers a 139,000-square-foot fully occupied, multi-tenant industrial building. Tony Kaufman and Joe Foley of Gantry represented the borrower, a Bay Area real estate investor with a legacy-hold Arizona investment strategy. Each fixed rate loan was secured from Gantry’s correspondent insurance company lenders. The individual nonrecourse loans feature interest-only payments and have no ongoing structure or operating covenants.

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DevelopmentLoansMidwestMissouri

PACE Loan Group Provides $35M C-PACE Loan for Production Studio in Chesterfield, Missouri

by Kristin Harlow

CHESTERFIELD, MO. — PACE Loan Group (PLG) has provided a $35 million C-PACE loan for a new 300,000-square-foot studio complex in Chesterfield near St. Louis. The project is authorized by the St. Louis County Clean Energy Development Board through the Missouri Energy Savings Program (MO-ESP). The facility, comprised of five sound stages, will be geared toward the live events industry and will support rehearsal and production services for stadium and arena tours. Construction of the project, built on vacant land at 900 Spirit of St. Louis Blvd., began in August 2022 and will be completed in stages. Studio 80 is expected to accept bookings in spring 2025. The 32-acre, $111 million Gateway Studios & Production Services development will employ more than 100 music and film manufacturing and production professionals. The property will also include a three-story office wing for Gateway Studios executives and staff. Robbie Pinkas of PLG originated the loan. The 20-year assessment will be used to finance energy conservation measures, including the building envelope, LED lighting, efficient HVAC, low-flow plumbing and high-efficiency water heating. The energy conservation measures are expected to save more than $50,000 annually over the course of the loan. MO-ESP, St. Louis County’s PACE program, …

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Emblem-at-Tower-Manor
Affordable HousingDevelopmentLoansMultifamilyTexas

Associated Bank Provides $60.4M Construction Loan for Metro Austin Affordable Housing Project

by Taylor Williams

MANOR, TEXAS — Associated Bank has provided a $60.4 million construction loan for Emblem at Tower, a 324-unit affordable housing project that will be located at 12100 Tower Road in Manor, about 15 miles northeast of Austin. Great Southern Bank joined Associated Bank in the construction loan syndication. Emblem at Tower will consist of 11 three-story buildings that will house a mix of two-, three- and four-bedroom units. The 4-percent LIHTC project will be available to households earning less than 60 percent of the area median income. Residents will have access to a clubhouse with fitness center, pool and outdoor amenity space, as well as a free 15-hour per week tutoring service. Construction is slated to be complete in early 2027. Dominium is the borrower and developer.

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IndustrialLoansTexas

JLL Arranges Acquisition Loan for Industrial Outdoor Storage Facility in Metro Dallas

by Taylor Williams

CEDAR HILL, TEXAS — JLL has arranged an acquisition loan of an undisclosed amount for a 7.5-acre industrial outdoor storage facility (IOS) in Cedar Hill, a southwestern suburb of Dallas. Developed in 2015, the property features a 15,023-square-foot industrial service building with 3,000 square feet of office space. The facility was fully leased at the time of the loan closing. C.W. Sheehan, Kristi Leonard, Peyton Ackerman and Nate Henderson of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, Apricus Realty Capital. The direct lender was not disclosed.

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LoansMultifamilyNorth CarolinaSoutheast

Walker & Dunlop Provides $13.9M Loan for Sedgefield Apartments in Winston-Salem, North Carolina

by John Nelson

WINSTON-SALEM, N.C. — Walker & Dunlop has provided a $13.9 million loan for Sedgefield Apartments, a 144-unit garden-style multifamily community located at 4755 Country Club Road in Winston-Salem. Brendan Coleman and Adam Johnston of Walker & Dunlop originated the Freddie Mac loan on behalf of the borrower, Elliott Properties. Sedgefield was built in 1987 and features one- and two-bedroom apartments, as well as a pool, fitness center, laundry facilities, business center, dog park and tennis and volleyball courts.

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LoansMichiganMidwestMultifamily

Bernard Financial Group Secures $3.5M Loan for Refinancing of Apartment Building in Warren, Michigan

by Kristin Harlow

WARREN, MICH. — Bernard Financial Group (BFG) has secured a $3.5 million loan for the refinancing of Parkview Tower Apartments in Warren, a northern suburb of Detroit. The apartment building features 157 units. Joshua Bernard of BFG arranged the loan through Ameritas Life Insurance Corp. on behalf of the borrower, Parkview Tower Apartments LP.

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AcquisitionsGeorgiaIndustrialLoansSouth CarolinaSoutheast

JLL Secures $357.8M Acquisition Loan for National Industrial Portfolio

by John Nelson

ATLANTA — JLL’s Capital Markets group has secured a $357.8 million acquisition loan for a national industrial portfolio on behalf of the borrower, Atlanta-based industrial real developer MDH Partners. Chris Drew, Michael Cosby, Ryan Ade, Brian Gaswirth, Jimmy Calvo and Nicole Barba of JLL arranged the balance sheet loan through Wells Fargo Bank and Capital One. Nathan Balmes and Michael Loffredo internally led the debt execution for MDH. The 5.5 million-square-foot portfolio, dubbed “MDH F3 Arctic Portfolio,” is located within the metropolitan areas of Houston, Austin, Chicago, Greenville, S.C., and Middletown, Pa. The portfolio comprises eight developments consisting of 12 individual buildings ranging in size from 140,300 to 1 million square feet, with an average clear height of 34 feet. The portfolio was fully leased at the time of financing to tenants across several industries, including automotive, e-commerce, food-and-beverage and home goods.

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