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DevelopmentHospitalityLoansMixed-UseSoutheastTennessee

Concord Summit Capital Secures $25M Loan for Park Place Equinox Hotel Tower in Downtown Nashville

by John Nelson

NASHVILLE, TENN. — Concord Summit Capital has secured a $25 million bridge loan for Park Place Equinox, a hotel tower located within the 2.1-acre Park Place master-planned community in downtown Nashville. The loan will refinance an existing acquisition facility and provide pre-development funding for the project that will support final design and entitlement work. Kevin O’Grady, David Larson and Keegan Burger of Concord Summit’s Miami office arranged the financing on behalf of the co-developers, The Congress Group and Taurus Investment Holdings. The hospitality tower will be one of the first new developments branded and operated by Equinox Hotels. Plans for Park Place Equinox will include an 18,000-square-foot Equinox Club and spa, rooftop pool and lounge and exclusive resident amenities. At full build-out, the three-tower Park Place development will feature a 239-unit luxury condominium tower, 245-room hotel, 480-unit apartment building, more than 25,000 square feet of ground-floor retail space, a 962-space underground parking garage and 50,000 square feet of elevated park and open green space. Park Place is currently in pre-development phases, with vertical construction anticipated to begin in 2026.

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CaliforniaLoansRetailWestern

PSRS Arranges $40M Refinancing of 245,000 SF Shopping Center in Los Angeles

by Amy Works

LOS ANGELES — PSRS has arranged a $40 million loan for the refinancing of La Alameda Shopping Center, a 245,000-square-foot property located in the Los Angeles neighborhood of Walnut Park. The 18.3-acre center comprises six building clusters and features Spanish architecture, pedestrian-friendly courtyards, plaza spaces, outdoor seating and a fountain. Tenants at the property include Ross Dress For Less, CVS Pharmacy, Marshalls, Don Chente Bar & Grill, Wingstop, Dollar Tree, Chuck E. Cheese, Panda Express, GameStop, Cold Stone Creamery, Petco and Bath & Body Works. Kostas Kavayiotidis, Mike Davis and Jacob Lee of PSRS arranged the nonrecourse CMBS loan, which carries a 10-year term.

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LoansOfficeTexas

Jefferson Bank Provides $6.3M in Financing for Northwest Austin Office Park

by Taylor Williams

AUSTIN, TEXAS — Regional lender Jefferson Bank has provided $6.3 million in financing for Volente Crossing, an office park in northwest Austin. The undisclosed borrower will use proceeds to refinance existing debt and complete construction. Volente Crossing is a 5.5-acre development with 10 individual sites for vertical development, each designed to accommodate a 4,800-square-foot office building. The park currently consists of one completed, fully leased office building, two shell structures and seven office pad sites. Upon full build-out, the park will feature approximately 48,000 square feet of office space across three completed buildings and seven pad sites.

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LoansMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $50M Loan for Refinancing of Manhattan Multifamily Portfolio

by Taylor Williams

NEW YORK CITY — Locally based brokerage and financial advisory firm Ariel Property Advisors has arranged a $50 million loan for the refinancing of a portfolio of 13 multifamily properties in Manhattan. The names and addresses of the properties, which collectively total 330 residences and five commercial spaces, were not disclosed, but the locations are in the Chelsea, East Village, Kips Bay and Upper East and West Side neighborhoods. Matthew Dzbanek and Matt Swerdlow of Ariel originated the 10-year, nonrecourse loan, which carries a 5.38 percent fixed rate and 25-year amortization schedule. The borrower and direct lender were also not disclosed.

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CaliforniaLoansMultifamilyWestern

BWE Secures $220M in Financing for Opus Multifamily Community in Los Angeles

by Amy Works

LOS ANGELES — BWE has secured a total of $220 million in financing for Opus, an apartment property in the Koreatown neighborhood of Los Angeles. Max Sauerman and Tyler Shebeck of BWE’s Los Angeles office originated a $205 million five-year senior loan and a $15 million floating-rate mezzanine loan on behalf of the borrower, an affiliate of Jamison Properties. New York Life Real Estate Investors (NYLREI) provided the financing. Completed in June 2024, Opus offers 428 studio, one-, two- and three-bedroom apartments spread across two high-rise towers connected by a secured parking garage and amenity deck. The units feature floor-to-ceiling windows, open floor plans, high ceilings, luxury appliances, balconies and smart home features. Onsite amenities include multiple resident lounges and entertaining spaces, coworking rooms, two state-of-the-art fitness centers, a game room, movie theater, golf simulator, dog park and grooming station, an automated concession room, a rooftop pool with a spa and cabanas, rooftop bars, dining areas, barbecue grills and fire pits. Additionally, the property offers 10,000 square feet of ground-floor commercial space, which is 33 percent leased to a coffee shop and a boba shop.

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LoansMultifamilyTexas

KeyBank Provides $28M Agency Loan for Refinancing of South Texas Multifamily Property

by Taylor Williams

HARLINGEN, TEXAS — KeyBank Real Estate Capital has provided a $28 million Freddie Mac loan for the refinancing of Valor at Harlingen, a 288-unit multifamily property located in the Rio Grande Valley region of South Texas. The garden-style property was built on 16.4 acres in 2013 and consists of 13 three-story residential buildings, a clubhouse, maintenance/storage buildings and seven parking garages. Patrick McFarland and Benjamin Baxter of KeyBank originated the nonrecourse, five-year loan on behalf of the borrower, Texas-based owner-operator Presidium.

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LoansNew YorkNortheastRetail

Largo Capital Arranges $17.3M Bridge Loan for Upstate New York Shopping Center

by Taylor Williams

IRONDEQUOIT, N.Y. — Local financial intermediary Largo Capital has arranged a $17.3 million bridge loan for Culver Ridge Plaza, a 291,000-square-foot shopping center located outside of Rochester in Irondequoit. The center is home to tenants such as Marshalls, Burlington and Five Below. Kevin Ross and Michelle Colosimo of Largo Capital arranged the loan through Bank of America. The borrower, an undisclosed global investment firm, will use the proceeds to refinance existing debt and fund capital improvements.

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FloridaLoansOfficeSoutheast

Grover Corlew Obtains $61M Refinancing for Two Adjacent Office Properties in Downtown Boca Raton

by John Nelson

BOCA RATON, FLA. — Grover Corlew has obtained a $61 million CMBS loan from Wells Fargo for the refinancing of two adjacent office properties in downtown Boca Raton. The assets include Palmetto Park City Center at 120 E. Palmetto Park Road and Bank of America Tower at 150 E. Palmetto Park Road. Both properties are nearing full occupancy and have the highest lease rates among comparable office buildings in Boca Raton, according to Grover Corlew. The South Florida-based investment firm has invested more than $16 million in upgrades in the past few years at both properties, including a full-floor tenant buildout for Waypoint and the addition of the Mia Rosebud at Bank of America Tower.

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FloridaLoansMultifamilySoutheast

JLL Secures $48M Refinancing for Westshore Palm Bay Apartments on Florida’s Space Coast

by John Nelson

PALM BAY, FLA. — JLL has secured a $48 million loan for the refinancing of Westshore Palm Bay, a 248-unit luxury apartment community located at 2331 Commerce Park Drive NE in Palm Bay, a city on Florida’s Space Coast. Brian Gaswirth, Ted Taylor, Kyle Butler, Aaliyah St. Louis and Noli Muratovic of JLL arranged the floating-rate loan through ACORE Capital LP on behalf of the borrower, Northshore Development. Built in 2023, Westshore Palm Bay features a 24-hour fitness center with on-demand virtual classes, resort-style pool with sun shelves, clubhouse and an 8-acre lake within a nature preserve. The property was 94 percent occupied at the time of financing.

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HospitalityLoansWashingtonWestern

Gantry Secures $14M Loan for Refinancing of Best Western Plus Hotel in Moses Lake, Washington

by Amy Works

MOSES LAKE, WASH. — Gantry has secured a $14 million permanent loan to refinance the Best Western Plus Lake Front Hotel, located at 3000 W. Marina Drive in Moses Lake. The hotel, including onsite restaurant, underwent an improvement program in 2023. The hotel features a heated outdoor pool, hot tub, steam room, cocktail lounge, meeting and banquet facilities, a business and convention center and a fitness center. Drit Shoemaker of Gantry represented the borrower, a private real estate investor. A regional bank provided the seven-year, fixed-rate loan, which features a 25-year amortization schedule.

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