Thursday, July 17, 2025
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FloridaLoansOfficeSoutheast

CBRE Arranges $30.2M Loan for Cornerstone One Office Property in Plantation, Florida

by John Nelson

PLANTATION, FLA. — CBRE has arranged a $30.2 million loan for Cornerstone One, a nearly 170,000-square-foot office building located at 1200 S. Pine Island Road in the Fort Lauderdale suburb of Plantation. Amy Julian and Andrew Chilgren of CBRE arranged the bank balance sheet loan. The names of the borrower and direct lender were not disclosed, but multiple media outlets report that The Brookdale Group purchased the property in 2023. Julian says that the owner has executed nearly 90,000 square feet of leasing activity at Cornerstone One over the past two years. The landlord also plans to overhaul the office building’s lobby, upgrade the patios and install move-in ready spec suites.

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IndustrialLoansTexas

JLL Arranges Acquisition Loan for Industrial Outdoor Storage Facility in Cedar Hill, Texas

by Taylor Williams

CEDAR HILL, TEXAS —JLL has arranged an acquisition loan of an undisclosed amount for a 7.5-acre industrial outdoor storage (IOS) facility in Cedar Hill, located southwest of Dallas. Built in 2015, the facility houses a 15,023-square-foot service building with office space and was fully leased at the time of the loan closing to an undisclosed provider of traffic equipment and services. 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, which acquired the property via sale-leaseback. The direct lender was not disclosed.

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AcquisitionsLoansMultifamilySoutheastTennessee

Colliers Mortgage Provides Agency Loan for 193-Unit Canyon and Knox Landing Apartments in Knoxville

by John Nelson

KNOXVILLE, TENN. — Colliers Mortgage has provided a seven-year Fannie Mae loan for the acquisition of Canyon and Knox Landing Apartments, a 193-unit multifamily community in Knoxville. The borrower and loan amount were not disclosed. Built in 1974, Canyon and Knox Landing features a mix of studio, one- and two-bedroom apartments ranging in size from 228 to 864 square feet, as well as a fitness center, laundry facilities, pet play area, picnic area, pool, tennis court and a volleyball court.

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IllinoisLoansMidwestMultifamily

JLL Originates $113.7M Loan for Refinancing of Chicago Apartment Tower

by Kristin Harlow

CHICAGO — JLL Capital Markets has originated a $113.7 million Freddie Mac loan for the refinancing of K2 Apartments, a 34-story apartment tower in Chicago’s Fulton Market district. The 496-unit property is located at 365 N. Halsted St. just west of the Chicago River. Constructed in 2013, K2 Apartments features a range of units from studios to three-bedroom layouts. Amenities include a pool, terrace lounge, movie theater room, 24-hour concierge service, a dog park and indoor basketball court. Danny Kaufman, Medina Spiodic and Rebecca Brielmaier of JLL arranged the seven-year, fixed-rate loan on behalf of the borrower, Georgetown Co.

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AcquisitionsIllinoisLoansMidwestOffice

Northwind Group Provides $62.5M Acquisition Loan for Office Building in Chicago’s East Loop

by Kristin Harlow

CHICAGO — Northwind Group has provided a $62.5 million first mortgage, senior secured acquisition and lease-up loan collateralized by 303 East Wacker Drive, a 30-story office building in Chicago. The property totals more than 1 million square feet and includes a 282-space parking garage. Situated on the Chicago River in the East Loop submarket, the building was roughly 75 percent occupied at the time of loan closing. A joint venture between 601W Cos. and David Werner Real Estate Investments was the buyer. The financing facilitated the acquisition from the existing lender via a deed-in-lieu of foreclosure from prior ownership, Beacon Capital Partners. The building has been recently renovated and modernized with over $32 million of upgrades and tenant-focused improvements. A new amenity center on the entire 30th floor overlooks Lake Michigan. John Vavas of Polsinelli Law Firm represented Northwind.

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1800-Broadway-San-Antonio
AcquisitionsLoansMultifamilyTexas

IPA Brokers Sale of 230-Unit Multifamily Property in San Antonio

by Taylor Williams

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of a 230-unit multifamily property located in San Antonio’s Lower Broadway area. Built in 2013, 1800 Broadway offers studio, one- and two-bedroom units with an average size of 897 square feet. Residences are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, business center, coffee bar and outdoor grilling and dining stations. Drew Garza and Will Balthrope of IPA represented the undisclosed seller in the transaction. Marko Kazanjian and Andrew Cohen, also with IPA, arranged $31.8 million in acquisition financing through Prime Finance on behalf of the buyer, a joint venture between Austin-based OTH Capital and Chicago-based Pearlmark.

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FloridaLoansSeniors HousingSoutheast

BWE Secures $76M Refinancing for Carlisle Naples Seniors Housing Community in Southwest Florida

by John Nelson

NAPLES, FLA. — BWE has secured a $76 million loan for the refinancing of The Carlisle Naples, a Class A seniors housing community in Naples. Operated by Senior Resource Group (SRG), the 18-acre community features 257 independent living apartments and 93 assisted living units. Ryan Stoll and Taylor Mokris of BWE arranged the financing on behalf of the borrower, a joint venture between Harbert Management Co. and SRG. The sponsors recently completed a capital improvement program at The Carlisle Naples.

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GeorgiaLoansMixed-UseMultifamilySoutheast

CBRE Arranges Refinancing Loan for 370-Unit Luxury Multifamily Complex in Midtown Atlanta

by John Nelson

ATLANTA — CBRE has arranged a fixed-rate loan for the refinancing of Sora at Spring Quarter, a newly built, 370-unit luxury multifamily complex in Midtown Atlanta. Mike Ryan, Blake Cohen and Taylor Crowder of CBRE arranged the financing on behalf of the borrowers, Portman Residential and National Real Estate Advisors. Apollo provided the five-year loan, the amount of which was not disclosed. The NGBS Silver-certified property was completed in January 2024 and is part of Portman’s Spring Quarter mixed-use campus, which includes the recently completed Ten Twenty Spring office tower and the historic H.M. Patterson Home and Gardens funeral home. Located at 1000 Spring St., the 29-story multifamily tower features various floor plans ranging from 659 to 1,680 square feet, including studios, one-, two- and three-bedroom units, two-story townhomes and two- and three-bedroom penthouse units. According to Apartments.com, monthly rental rates begin at $2,195.  Unit amenities comprise condo-style finishes with plank flooring, 10- to-12-foot ceilings, quartz countertops, gas range cooktops, stainless steel appliances and porcelain tile bathrooms. Residents have access to a 10th-floor pool and terrace, 24-hour gym with fitness studios, infrared sauna, rock-climbing wall, sports simulator, gaming lounge, 29th-floor rooftop lounge and observation deck and nearly 13,000 square feet …

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LoansMichiganMidwestMultifamily

Bernard Financial Group Arranges $2.5M Loan for Refinancing of Michigan Multifamily Community

by Kristin Harlow

CLARKSTON, MICH. — Bernard Financial Group (BFG) has arranged a $2.5 million loan for the refinancing of a 141-unit multifamily community in Clarkston, a northern suburb of Detroit. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Independence Square LP. Ameritas Life Insurance Corp. provided the loan.

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IndustrialLoansNew JerseyNortheast

JLL Arranges Loan for Refinancing of Central New Jersey Industrial Portfolio

by Taylor Williams

EDISON, N.J. ­— JLL has arranged a loan of an undisclosed amount for the refinancing of a portfolio of two industrial buildings totaling 113,211 square feet in the Central New Jersey community of Edison. The portfolio, which was fully leased at the time of the loan closing, comprises a 53,950-square-foot building that was constructed in 1982 and a 59,261-square-foot building that was completed in 1988. Michael Klein and Max Custer of JLL arranged the 11-year, fixed-rate loan on behalf of the borrower, Summit Associates Inc. The direct lender was not disclosed.

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