Loans

Ann Atkinson Regions Real Estate Capital Markets quote from article

Looking to Finance Your Multifamily Property? Compare Fannie Mae, Freddie Mac Small Balance Loan Options

by Sarah Daniels April 24, 2025

By Ann Atkinson, Regions Real Estate Capital Markets Finance options for owner/operators of multifamily properties are consistently available via Fannie Mae and Freddie Mac. Both government-sponsored entities (GSEs), are governed by the Federal Housing Finance Agency (FHFA) and share a clear mission to support the health of the country’s housing market and its existing multifamily supply by providing financing options to borrowers. Loans Accessible for Affordable, Workforce Properties The support provided by both Fannie Mae and Freddie Mac to multifamily housing notably extends beyond market-rate rental properties, with both agencies dedicated to the availability of affordable and workforce housing units to low-income renters. Thus, Fannie Mae and Freddie Mac offer good loan options to consider for owner/operators active in these multifamily subsets. Let’s compare their offerings specific to small balance loans, as these are often the appropriate solutions for this range of multifamily properties. Both Fannie Mae and Freddie Mac programs offer financing for the acquisition or refinance of stabilized multifamily properties. The properties must include five or more residential units and be stabilized. The agencies define stabilized as 90 percent occupancy for 90 days. In addition, both programs offer the following product features for small loans: Let’s now …

April 24, 2025

Florida Loans Office Southeast

JLL Arranges $51.5M Refinancing for Dadeland Centre Office Buildings in Metro Miami

by John Nelson April 23, 2025

DADELAND, FLA. — JLL has arranged $51.5 million for the refinancing of Dadeland Centre I and II, two office buildings within the Dadeland Centre complex in metro Miami. Paul Stasaitis led the JLL team in arranging the 10-year, fixed-rate loan through Goldman Sachs on behalf of the borrowers, The Green Cos. and an entity doing business as Dadeland Centre. Built in 2003 and 2008 by The Green Cos., the office properties span 242,598 square feet, with Dadeland Centre I rising 18 stories and Dadeland Centre II rising 15 stories. The office buildings are subject to long-term ground leases with Miami-Dade County and each include multiple levels of structured parking. The properties were 93 percent leased at the time of financing to tenants including Cole Scott & Kissane, Steel Group LLC and Field & Howell.

April 23, 2025

Loans Multifamily New Jersey Northeast

Dwight Mortgage Trust Provides $50M Acquisition Loan for Coastal New Jersey Multifamily Property

by Taylor Williams April 23, 2025

TOMS RIVER, N.J. — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $50 million bridge loan for the acquisition of Silverwoods, a 313-unit multifamily property located in the coastal New Jersey community of Toms River. The 55-acre, age-restricted property consists of 46 one-story buildings that house seven studios, 41 one-bedroom units and 265 two-bedroom units. Amenities include a pool, fitness center and a clubhouse. Moshe Feiner of Sevenstone Capital arranged the debt on behalf of the borrowers, Mathias Deutsch and Isidore Bleier. In addition to financing the purchase, ownership will use the loan proceeds to establish an interest reserve, cover transaction costs and purchase an interest rate cap.

April 23, 2025

Loans Multifamily New York Northeast

Cushman & Wakefield Arranges Refinancing of 352-Unit Manhattan Apartment Building

by Taylor Williams April 23, 2025

NEW YORK CITY — Cushman & Wakefield has arranged a loan of an undisclosed amount for the refinancing of a 352-unit apartment building located at 88 Leonard St. in Manhattan’s Tribeca area. The 21-story, doorman-served building offers studio, one-, two- and three-bedroom units and amenities such as a rooftop terrace, outdoor pool and lounge area and a pet play area, as well as 11,365 square feet of retail space. John Alascio, Alexander Hernandez, Meredith Donovan and Gideon Gil of Cushman & Wakefield arranged the loan through an undisclosed European bank on behalf of the borrower, Jamestown.

April 23, 2025

California Loans Multifamily Western

Affinius Capital Originates $148.5M in Refinancing for 800 Broadway Multifamily Community in San Diego

by Amy Works April 23, 2025

SAN DIEGO — Affinius Capital has closed a $148.5 million loan to refinance 800 Broadway, a newly built high-rise multifamily property in San Diego. The loan was made to an affiliate of Diamond Realty Investments. James Burrell of Northmarq arranged the financing. The 40-story building offers 356 market-rate apartments and 33 affordable units, ranging from studio and one-/two-bedroom apartments to two-/three-bedroom penthouses. The units feature private patios/balconies, Whirlpool stainless steel appliances, nine-foot ceilings, in-unit washers/dryers, quartz countertops, frameless glass showers and porcelain tubs, modular closet shelving, luxury vinyl and tile flooring, gas stoves, under cabinet lighting and pendant island lighting. Onsite amenities include a rooftop deck with swimming pool and hot tub, speakeasy bar, outdoor lounge with fire pits and grilling stations, a clubroom, coworking space and business center, TV and game lounge, fitness center with yoga studio, pet spa and dog walk, bike storage and repair station, electric vehicle charging stations and a 24-hour concierge. Additionally, 800 Broadway offers 4,830 square feet of commercial space.

April 23, 2025

Illinois Industrial Loans Midwest

Brennan Recapitalizes 720,000 SF Industrial Portfolio in Elk Grove Village, Illinois

by Kristin Harlow April 23, 2025

ELK GROVE VILLAGE, ILL. — Brennan Investment Group has recapitalized the Regent O’Hare industrial portfolio in Elk Grove Village. The portfolio is positioned in the heart of the O’Hare submarket, located along the Busse industrial corridor and three miles from Chicago O’Hare International Airport. The portfolio consists of five multi-tenant Class B buildings with an occupancy of 92 percent. Brennan will continue to operate the portfolio, as it has done since its original acquisition in October 2020. Brennan’s Midwest portfolio totals 30 million square feet of industrial space.

April 23, 2025

Florida Hospitality Loans Southeast Top Stories

Driftwood Capital Completes $415M Recapitalization of National Hospitality Portfolio

by Kristin Harlow April 23, 2025

MIAMI — Miami-based Driftwood Capital has completed the $415 million recapitalization of a nationwide hospitality portfolio valued at $1.2 billion. The portfolio includes 18 Hilton-, Marriott- and Margaritaville-branded hotels totaling 4,203 rooms across 10 states. Wells Fargo led financing for the debt component of the transaction with a roughly $330 million securitized senior loan. ACORE Capital provided $85 million in preferred equity. Many of the properties are located in high-growth markets within California, Texas, Florida, North Carolina, Utah and New York. Prominent hotels include Margaritaville Lake Resort Lake of the Ozarks, Marriott San Diego Mission Valley, Hilton Dallas/Southlake Town Square, Canopy by Hilton West Palm Beach Downtown and Hotel Vesper in Houston. Each asset in the portfolio has either been newly built or comprehensively renovated in recent years. “This portfolio brings together some of the highest quality assets we own and operate, creating a uniquely cohesive investment opportunity for our partners,” says Carlos Rodriguez Sr., chairman and CEO of Driftwood. “We’ve intentionally assembled this particular portfolio of assets to reflect strength in markets, performance and long-term fundamentals.” Driftwood says the transaction marks a major milestone in its strategy to create scalable hospitality portfolios, designed to maximize value through operational control, …

April 23, 2025

California Industrial Loans Western

MMCC Secures $4.3M in Refinancing for Industrial Property in Vista, California

by Amy Works April 22, 2025

VISTA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4.3 million for the refinancing of an industrial building located at 2270 La Mirada Drive in Vista. Kevin Elliott of MMCC secured the financing with a local credit union for the undisclosed borrower. Terms of the 10-year loan include a 6.3 percent interest rate with a 30-year amortization period and a 60 percent loan-to-value. Beacon Building Products, a distributor of roofing, waterproofing and related exterior products in the United States and Canada, occupies the 4,800-square-foot facility.

April 22, 2025

Loans Michigan Midwest Retail

Bernard Financial Group Arranges $2.2M Loan for Refinancing of Retail Property in Monroe, Michigan

by Kristin Harlow April 22, 2025

MONROE, MICH. — Bernard Financial Group (BFG) has arranged a $2.2 million loan for the refinancing of a 13,541-square-foot retail property in Monroe, about 23 miles north of Toledo, Ohio. Joshua Bernard of BFG arranged the loan through a life insurance company. An entity doing business as BSLM Frenchtown LLC was the borrower.

April 22, 2025

Loans New Jersey Northeast Retail

Cronheim Mortgage Arranges $31M in Financing of Southern New Jersey Shopping Center

by Taylor Williams April 22, 2025

BURLINGTON, N.J. — New Jersey-based financial intermediary Cronheim Mortgage has arranged $31 million in financing of a 358,000-square-foot shopping center in the Southern New Jersey community of Burlington. Walmart Supercenter anchors the center, which was 99 percent leased at the time of the loan closing. Other tenants include Planet Fitness, Ross Dress for Less, Marshalls, Five Below, AutoZone and McDonald’s. Brandon Szwalbenest, Dev Morris and Andrew Stewart of Cronheim arranged the 10-year loan through an undisclosed life insurance company on behalf of the owner, National Realty & Development Corp.

April 22, 2025

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