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Radian-Apts-San-Diego-CA
CaliforniaLoansMultifamilyWestern

Cisterra Development, Spruce Capital Receive $98M in Refinancing for Radian Apartments in San Diego

by Amy Works

SAN DIEGO — A partnership between Cisterra Development and Spruce Capital Group has received a $98 million loan for the refinancing of Radian, a Class A apartment property in San Diego. Located at 675 Ninth Ave., Radian offers 241 one-, two- and three-bedroom units, including five penthouses. The community features a two-story ground-floor retail area and a rooftop pool and spa with views of Petco Park, downtown San Diego and the San Diego Bay. Mark McGovern, Scott Peterson and Morgon Fraser of CBRE Capital Markets’ Debt & Structured Finance team arranged the three-year, fixed-rate permanent loan on behalf of the borrower.

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Affordable HousingLoansMultifamilyNew YorkNortheastSeniors Housing

Lument Provides $26.8M HUD Loan for Three Affordable Seniors Housing Properties in Brooklyn

by Taylor Williams

NEW YORK CITY — Lument has provided a $26.8 million HUD-insured loan for the refinancing of three affordable seniors housing properties totaling 203 units in Brooklyn. West End Gardens I and II are both located in the Borough Park neighborhood, while Webster Terrace is located in the Kensington submarket. All three properties are reserved for renters aged 62 and above and mobility-impaired individuals. Paul Weissman and Andrew Nicoll of Lument originated the financing, which was structured as a scattered-site loan and carries a fixed interest rate and a fully amortized 35-year term, through HUD’s 223(f) program. The borrower was HDF Cos.

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AcquisitionsHealthcareLoansMidwestOhio

MMCC Arranges $5.1M Acquisition Loan for Medical Office Property in Canal Winchester, Ohio

by Kristin Harlow

CANAL WINCHESTER, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.1 million acquisition loan for a medical office property located at 9695 Basil Western Road in Canal Winchester, a southeast suburb of Columbus. The building is home to MedVet, which operates a 24-hour emergency vet. Chad O’Connor of MMCC arranged the financing with a credit union on behalf of the private borrower. The 10-year loan features a 6.5 percent interest rate, 30-year amortization period and 60 percent loan-to-value ratio.

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Hampton-InnHome2
HospitalityLoansSoutheastTennessee

HKS Real Estate Arranges $25M Construction Financing for Dual-Branded Hotel in Antioch, Tennessee

by Abby Cox

ANTIOCH, TENN. — HKS Real Estate Advisors has arranged $25 million in financing for the development of a dual-branded hotel located within the master-planned community of Century Farms in Antioch, approximately 12 miles southeast of downtown Nashville. The building will offer 189 rooms under the Hampton Inn brand and the Home2 Suites by Hilton brand. Mountain Commerce Bank provided $15.6 million in senior debt notes, while Nuveen provided $9.9 million in C-PACE financing for the borrower, Nish Jobalia and Nick Patel of Milap Hotels LLC.

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Generation-Park-Distribution-Center
IndustrialLoansTexas

Outrigger Industrial Receives $96.9M in Financing for Houston Industrial Property

by Taylor Williams

HOUSTON — National investment firm Outrigger Industrial has received $96.9 million in financing for Generation Park Distribution Center, a 1.3 million-square-foot industrial property in northeast Houston. According to a property flyer from CBRE, Generation Park Distribution Center comprises an approximately 1 million-square-foot, cross-dock facility and a 255,871-square-foot, rear-load warehouse on an 87.5-acre site. Building features include 32- to 40-foot clear heights, 185-foot truck court depths and excess trailer parking. Barings provided the debt, which Outrigger secured on behalf of Centris Industrial, the private REIT that Outrigger sponsors and manages.

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One-Grove-Jersey-City
LoansMultifamilyNew JerseyNortheast

Cushman & Wakefield Arranges $81M Loan for Refinancing of Jersey City Apartment Building

by Taylor Williams

JERSEY CITY, N.J. — Cushman & Wakefield has arranged an $81 million loan for the refinancing of One Grove, a 200-unit apartment building in Jersey City. Designed by MHS Architecture and completed in 2024, One Grove offers studio, one-, two- and three-bedroom units and amenities such as a landscaped rooftop terrace, fitness center, coworking space, resident lounge and a demonstration kitchen. The property also offers fully furnished, short-term rental apartments. Brad Domenico, Frank Stanislaski, Jack Subers, Niko Nicolaou and Ryan Dowd of Cushman & Wakefield arranged the loan through Societe Generale Group on behalf of the borrower, TKK Capital.

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Depot-Atlas-LA-CA
CaliforniaLoansOfficeWestern

Luzzatto Co. Receives $32.4M C-PACE Financing for Depot & Atlas Office Campus in Los Angeles

by Amy Works

LOS ANGELES — The Luzzatto Co. has received $32.4 million in C-PACE financing through Nuveen Green Capital for Depot & Atlas, a creative office campus in Los Angeles’ West Adams submarket. Jeff Sause and Lauren Sackler of JLL Capital Markets Debt Advisory team arranged the financing for the borrower. Located at 3609-3645 10th Ave., Depot & Atlas offers 107,156 square feet of Class A space spread across two buildings, as well as two stories of subterranean parking. After acquiring the site in 2019, The Luzzatto Co. developed the Depot, a 94,726-square-foot creative office building, in late 2023 and redeveloped the neighboring 12,430-square-foot Atlas building. The property was 39 percent leased at the time of financing, with the Los Angeles Department of Mental Health occupying the entire first floor of the building.

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Affordable HousingLoansMidwestMissouriMultifamily

Northmarq Secures $18M HUD-Insured Loan for Affordable Housing Community in Metro St. Louis

by Kristin Harlow

O’FALLON, MO. — Northmarq has secured more than $18 million in HUD financing for Southernside Apartments, a 220-unit affordable housing community in the St. Louis suburb of O’Fallon. The property features one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, game room, business center, great room, covered parking and walking trails. Eugene Harris of Northmarq arranged the 35-year loan on behalf of Hennessey Construction Co.

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GCP-Paper-New-Caney
DevelopmentIndustrialLoansTexas

CBRE Arranges Construction Financing for 565,765 SF Manufacturing Project in New Caney, Texas

by Taylor Williams

NEW CANEY, TEXAS — CBRE has arranged an undisclosed amount of construction financing for a 565,765-square-foot manufacturing project in New Caney, a northeastern suburb of Houston. The 32-acre site is located within East Montgomery Industrial Park, and the project is a build-to-suit for GCP Paper, a Mexican company that provides toilet paper, facial tissue and paper towels. The facility will consist of two interconnected single-story structures: an office/production warehouse and a mill building. The office/production warehouse will feature dock-high loading bays and concrete tilt-wall panel construction. Construction is slated for a summer 2026 completion. John Fenoglio and Brock Hudson of CBRE arranged the debt through Cadence Bank on behalf of GCP Paper in conjunction with Pontikes, which is serving as the fee developer for the project as well as the general contractor. The loan was structured with a loan-to-cost ratio of 80 percent.

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townley-court
Affordable HousingDistrict of ColumbiaLoansSoutheast

CPC Arranges $26.7M in Construction Financing for Affordable Housing Rehabilitation Project in D.C.

by Abby Cox

WASHINGTON, D.C. — The Community Preservation Corp. (CPC) has arranged $26.7 million in construction financing for the rehabilitation and expansion of Townley Court, a 45-unit affordable housing community located in the Glover Park neighborhood of Washington, D.C. DC Green Bank and J.P. Morgan provided $15.7 million in combined financing for the project, while additional financing included $5.2 million from Amazon and $5.8 million from American Housing. Additionally, CPC Mortgage Co. originated a $15.7 million Freddie Mac loan under a Targeted Affordable Housing (TAH) forward commitment. The financing will fund renovations to the apartment’s 45 existing units, with plans to build an additional seven units, as well as solar panels, electric vehicle charging stations and energy-efficient building upgrades. The eco-friendly improvements are estimated to cut both the building’s utility costs and greenhouse gas emissions by nearly 10 percent, while also meeting the Enterprise Green Communities certification upon completion of the renovation. Completion is targeted for September 2026.

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