Loans

JLL, HJ Sims Arrange $239.7M in Tax-Exempt, Taxable Bond Financing for Three-Property Seniors Housing Portfolio in Arizona, California

by Amy Works April 1, 2025

BUCKEYE AND YUMA, ARIZ., AND SANTA CLARITA, CALIF. — JLL and HJ Sims have arranged $239.7 million in tax-exempt and taxable bond financing for the Integrated Senior Foundation — Ativo Portfolio, a seniors housing portfolio in Arizona and California. The portfolio includes 430 independent living, assisting living and memory care units. There are two ground-up development communities and one acquisition — Ativo of Sundance in Buckeye, Ativo of Yuma in Yuma and Ativo of Santa Clarita within the Sand Canyon Plaza master-planned community in Santa Clarita. On behalf of Integrated Senior Foundation, JLL’s Seniors Housing Capital Markets team, in collaboration with the bond underwriting team of HJ Sims and JLL Securities, secured fixed-rate financing with a final maturity of 40 years. The financing consisted of $218.2 million of publicly offered tax-exempt senior series 2025A bonds, $5.9 million of taxable senior series 2025B bonds and $15.5 million of tax-exempt subordinate 2025C bonds. Slated for completion in 2027, Ativo of Sundance will feature 102 independent living units, 75 assisted living units and 30 memory care beds, while Ativo of Santa Clarita will feature 51 independent living units, 65 assisted living units and 28 memory care beds, with completion scheduled for later this year. Ativo …

April 1, 2025

Acquisitions California Loans Western

NewPoint Provides $82M Acquisition Loan for Affordable Housing Property in Anaheim, California

by Amy Works April 1, 2025

ANAHEIM, CALIF. — NewPoint Real Estate Capital has provided an $82 million Fannie Mae loan to facilitate the acquisition of Park Vista Apartment Homes, a garden-style affordable housing community in Anaheim. Los Angeles-based BLDG Partners purchased the 392-unit property, which is 100 percent mission with all units being affordable at 60 percent of the area median income or lower. Martin Fayer of NewPoint originated the fixed-rate loan, which has a seven-year term with five years of interest-only payments. Originally constructed in 1959 and renovated in 2001, Park Vista consists of 93 two-story buildings spread across 20 acres in southeast Los Angeles. Community amenities include laundry facilities, a pool and barbecue grill, as well as picnic and playground areas.

April 1, 2025

Illinois Loans Midwest Multifamily

Newmark Arranges $110M Loan for Refinancing of Cityfront Place Apartment Tower in Chicago

by Kristin Harlow April 1, 2025

CHICAGO — Newmark has arranged a $110 million loan for the refinancing of Cityfront Place, a 39-story luxury apartment tower in downtown Chicago. The borrowers, Strategic Properties of North America and Mirae Asset Securities, acquired the 480-unit property in 2020 and implemented a renovation plan, modernizing unit interiors and common areas while maintaining occupancy above 95 percent throughout the improvement period. The renovations contributed to a more than 60 percent increase in net operating income. Positioned along the Chicago River in the Streeterville neighborhood, Cityfront Place offers studio, one- and two-bedroom units. Amenities include a fitness center, indoor pool, rooftop terrace, resident lounge, indoor parking and direct access to the Riverwalk. Charles Han, Henry Stimler, Bill Weber, Matt Mense, Dan Sarsfield and Ricky Warner of Newmark arranged the financing.

April 1, 2025

California Loans Office Western

PACE Loan Group Provides $22.4M C-PACE Refinancing for Creative Office Building in Los Angeles

by Amy Works March 31, 2025

LOS ANGELES — Center Capital Partners and Abramson Investors have received a $22.4 million C-PACE loan from PACE Loan Group to refinance improvements completed on the borrowers’ newly constructed creative office development in Los Angeles. The C-PACE loan will amortize over 30 years, allowing payback for original investments during construction. The loan will be used to retroactively finance energy conservation improvements completed during the building’s construction, including building envelope, seismic retrofits, elevators, lighting, plumbing, HVAC, irrigation and stormwater mitigations. Located at 5237 W. Jefferson Blvd., the three-story, 72,000-square-foot property offers 9,700 square feet of of private terraces, a landscaped rooftop deck with seating and a barbecue area, 176 subterranean parking spaces and open-floor plans with wraparound windows.

March 31, 2025

California Loans Multifamily Western

Naturally Affordable Housing Receives $10.1M Bridge Loan for Multifamily Property in San Diego

by Amy Works March 31, 2025

SAN DIEGO — Naturally Affordable Housing has received $10.1 million in bridge financing for North Park Nest, an apartment community located at 4233 Kansas St. in San Diego. Brad Vansant and Ben Choromanski of JLL Capital Market’s Debt Advisory team secured the short-term floating-rate loan for the borrower. The four-story North Park Nest features 39 studio and one-bedroom units with an average size of 486 square feet and 11-foot ceilings. Amenities include air conditioning, stainless steel appliances, in-unit washers/dryers and a rooftop deck with a barbecue and lounge area.

March 31, 2025

Illinois Loans Midwest Multifamily Wisconsin

Greystone Provides $15.4M Refinancing for Multifamily Portfolio in Illinois, Wisconsin

by Kristin Harlow March 31, 2025

ANTIOCH, ILL. AND LAKE GENEVA, WIS. — Greystone has provided two Fannie Mae loans totaling $15.4 million for the refinancing of a 253-unit multifamily portfolio in Illinois and Wisconsin. Each of the two garden-style properties received a $7.7 million loan. Geneva Meadows Apartments is a 108-unit community in Lake Geneva, Wis., and Antioch Manor Apartments is a 145-unit property in Antioch, Ill. Kyle Jemtrud and Wilson Molitor of Greystone originated the nonrecourse loans, which feature fixed interest rates, seven-year terms, 30-year amortization schedules and interest-only payments for the entire term of the loan.

March 31, 2025

Development Loans Multifamily New Jersey Northeast

BHI Provides $35M Construction Loan for Jersey City Multifamily Project

by Taylor Williams March 31, 2025

JERSEY CITY, N.J. — BHI, the U.S. division of Israel’s Bank Hapoalim, has provided a $35 million construction loan for a 202-unit multifamily project in Jersey City. The development at 277-301 West Side Avenue will be a six-story building that will house 42 studios, 119 one-bedroom units, 32 two-bedroom apartments and nine three-bedroom residences. Ten percent of the units will be reserved as affordable housing, and the building will also feature 5,800 square feet of commercial space. Amenities will include a pool, fitness center, sauna, meditation room, rooftop terrace and outdoor grilling and dining stations. The borrower is Tay Investments.

March 31, 2025

Florida Loans Multifamily Southeast

Lynd Group Secures $132.5M Refinancing for Villas at Tuttle Royale Apartments in South Florida

by John Nelson March 31, 2025

ROYAL PALM BEACH, FLA. — The Lynd Group has secured a $132.5 million bridge loan from MF1 Capital to refinance the construction loan for The Villas at Tuttle Royale, a multifamily project in the Royal Palm Beach suburb of West Palm Beach. New York-based S3 Capital originally provided a $126 million construction loan to Lynd Group in March 2023 for the development. Situated at 11200 Nicole Drive, The Villas at Tuttle spans 26 buildings and comprises 401 units, including 55 townhomes with private two-car garages. The garden-style community offers one-, two-, three- and four-bedroom floorplans up to 2,035 square feet in size. Amenities include a two-story clubhouse with a sauna, fitness and wellness center, coffee bar, private dining areas, game room, community catering space, two lounges, coworking pods, a business center and a panoramic outdoor terrace. Additional outdoor offerings include a recreation deck with a resort-style pool, cold plunge, spas, cabanas, fire pits, pickleball courts, bike path and a playground. The Villas at Tuttle is located within the 200-acre mixed-use Tuttle Royale project.

March 31, 2025

Industrial Loans Top Stories

Clarion Provides Financing for 2.3 MSF National Industrial Outdoor Storage Portfolio

by Taylor Williams March 31, 2025

NEW YORK CITY — A fund backed by New York City-based Clarion Partners has provided an undisclosed amount of financing for a national portfolio of eight industrial outdoor storage (IOS) properties totaling 2.3 million square feet. Eastdil Secured arranged the debt and acted as an advisor on the deal. The debt is a first mortgage loan for the refinancing of the national portfolio, and the borrower is a partnership between Outour Storage Investments and affiliates of Cerberus Capital Management. The portfolio encompasses properties in Chicago, Phoenix, Las Vegas, Houston, California’s Inland Empire, Dallas-Fort Worth and Atlanta with an aggregate size in excess of 50 acres. The Clarion fund also acquired a 7.6-acre IOS facility at 15550 Export Plaza Drive in Houston. The Houston property was recently upgraded, includes a 24,000-square-foot structure and was fully leased at the time of sale to a waste management services company. “This portfolio is a relatively rare assembly of IOS properties with best-in-class specifications, terrific market locations and a strong roster of national and regional credit tenants,” says Brent Jenkins, portfolio manager at Clarion Partners. “This financing provides an ideal opportunity to expose our investors to this high-demand subsector within the larger industrial and logistics …

March 31, 2025

Loans Multifamily Student Housing Texas

BWE Arranges $23.5M Acquisition Loan for Student Housing Property Near Texas State University

by Taylor Williams March 28, 2025

SAN MARCOS, TEXAS — BWE, a Cleveland-based commercial financial services firm, has arranged a $23.5 million acquisition loan for The Edge, a 553-bed student housing property that serves students at Texas State University in San Marcos. The Edge is located less than a mile from campus and offers one-, two-, three- and four-bedroom floor plans across 173 units. Amenities include a fitness center, clubhouse, study areas and a basketball court. Chris Carroll and Max Miller of BWE arranged the financing through Chicago-based Byline Bank. The borrower, Campus Realty Advisors, plans to use a portion of the proceeds to fund capital improvements.

March 28, 2025

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