MILPITAS, CALIF. — BWE has arranged $65 million in bond financing for Ivy Park at Milpitas, a seniors housing property in Milpitas. The financing was secured on behalf of a joint venture between Blue Mountain Enterprises and SRM Development. Oakmont Management Group is managing the property. Ryan Stoll and Taylor Mokris of BWE arranged the financing. The loan was structured as a 15-year bond issuance, credit-enhanced by a letter of credit from Poppy Bank, and features five years of interest-only payments along with a favorable covenant structure. The financing provides the sponsor with enhanced flexibility and a long-term runway to complete lease-up and drive operational performance. The four-story, 205,000-square-foot Ivy Park at Milpitas offers 199 independent living, assisted living and memory care units, as well as a subterranean parking garage. Community amenities include all-day dining at The Vine at Ivy restaurant, a fitness center, indoor heated pool, library, salon, movie theater and a landscaped outdoor courtyard. The community also offers 24-hour staffing, concierge services and a social calendar for residents.
WESTMINSTER, COLO. — Mesa West Capital has provided an affiliate of Crow Holdings Capital with $52 million in short-term, floating-rate first mortgage debt to refinance Canyon Reserve at the Ranch, an apartment community in Westminster. The property is located at 2890 W. 116th Place. Built in 1984, the 17-building, garden-style asset was fully repositioned by the sponsor in 2022. Canyon Reserve at the Ranch features 256 one- and two-bedroom units with modern finishes, including stainless steel appliances, in-unit washers/dryers, walk-in closets and private outdoor spaces. Community amenities include a resort-style swimming pool, outdoor grilling area, fitness center and dog park.
SAN MARCOS, TEXAS — Southern California-based Thorofare Capital has provided $36 million in financing for a three-building, 343,728-square-foot industrial project in the Central Texas city of San Marcos. The loan carries a floating interest rate, and the project is expected to be complete in September. The Thorofare team behind the transaction included Scott Sumida, Andrew Kim, Paul Hachigian, Paul Kim and Jason Campbell. The names of the direct lender and borrower were not disclosed.
NASHVILLE, TENN. — Walker & Dunlop has arranged a $105 million loan for the refinancing of 805 Lea, a 356-unit apartment tower in downtown Nashville. Built in 2021, the property features 10,203 square feet of ground-floor retail space across three suites. Amenities include a 24-hour concierge services, 29th floor sky lounge, saltwater swimming pool, fitness center and two outdoor fire pits. Stephen Farnsworth led the Walker & Dunlop team that arranged the three-year loan through Nuveen on behalf of the borrower, Key Real Estate Co. The loan features two optional 12-month extensions.
FLINT, MICH. — Bernard Financial Group (BFG) has arranged a $23 million loan for the refinancing of a 328,770-square-foot industrial facility in Flint. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Flint Commerce Center 1 LLC. A life insurance company provided the loan.
SIMI VALLEY, CALIF. — Gantry has secured a $26 million bridge loan to refinance maturing debt for Civic Center Plaza, a retail center in Simi Valley. Situated on 11.5 acres, the 145,000-square-foot asset is occupied by Regal IMAX Cinema, Starbucks Coffee, Panda Express, Carl’s Jr., two credit unions, Unleashed by Petco and a new grocer, which is slated to open in 2026. Mark Ritchie and Austin Ridge of Gantry represented the borrower, a private real estate operator. Funds managed by affiliates of Fortress Investment Group provided the three-year, nonrecourse loan, which features a variable rate and interest-only term.
VANCOUVER, WASH. — Priority Capital Advisory has arranged a $12 million bridge loan for Hudson West, a 50-unit Class A apartment property in Vancouver. The financing was arranged for Cascadia Development Partners to replace a maturing construction loan, extending financial flexibility through lease-up stabilization. Located at 2411 Broadway St., Hudson West offers 11 studio, 25 one-bedroom and 14 two-bedroom units in a three-story building. Each unit features private balconies, gourmet kitchens, walk-in closets and high-end finishes. Onsite amenities include a coffee bar, multiple common areas and 39 secured parking spaces.
SAN ANTONIO — Los Angeles-based PCCP LLC has provided a $42 million acquisition loan for Heritage Plaza, a 341-unit apartment community located at 227 Dwyer Ave. in downtown San Antonio. Built in 2020, Heritage Plaza offers studio, one- and two-bedroom units, 34 of which are subject to income restrictions. Residences are furnished with stainless steel appliances, kitchen islands, walk-in closets and balconies/patios in each unit. Amenities include a pool, fitness center, outdoor kitchen, rooftop terraces and a resident clubhouse, as well as 4,600 square feet of ground-floor retail space. The borrower was Austin-based RPM Living Investments.
HYATTSVILLE, MD. — Horning has acquired Plaza Towers Apartments, a 288-unit multifamily community located in Hyattsville, a suburb of Washington, D.C. Horning has agreed to 99-year affordability covenants on all the building’s units, capping rents between 40 and 80 percent of the area median income (AMI). Amazon’s Housing Equity Fun provided $18.7 million in low-cost financing, while Prince George County contributed $3 million through its Right of First Refusal Preservation Fund, as well as a Payment in Lieu of Taxes (PILOT) for an undisclosed value. Additionally, an unnamed Freddie Mac Optigo lender provided senior debt financing. Built in 1964 near the University of Maryland’s College Park campus, the 11-story building houses 44 studio, 158 one-bedroom, 62 two-bedroom and 24 three-bedroom apartments. Community amenities include a business center, fitness room, club room, bike storage, playground and an outdoor pool. Horning plans to invest in the property with updated infrastructure and building systems. The buyer’s property operator affiliate, Horning Management Co,. will provide management services for Plaza Towers.
NEW YORK CITY — Wells Fargo has provided a $249.2 million Fannie Mae loan for the refinancing of Anagram NoMad, a 50-story apartment tower located in the Manhattan neighborhood of the same name. Anagram NoMad offers 392 units in studio, one-, two- and three-bedroom floor plans. Amenities include an indoor and outdoor rooftop lounge with a bar, a game room and lounge spaces; a gym with a climbing wall and yoga studio; a resident café; a coworking space with a conference and telephone rooms; a children’s playhouse; a library; and a private garden lawn. Andrew Cohen and Shane Hogan of Wells Fargo originated the financing on behalf of the owner, Global Holdings Management Group, which will use the proceeds to refinance an existing Wells Fargo balance sheet loan.