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Verdant-Fort-Greene-Brooklyn
AcquisitionsAffordable HousingDevelopmentLoansMultifamilyNew YorkNortheastTop Stories

Joint Venture Acquires Verdant Fort Greene Apartments in Brooklyn for $209M

by Abby Cox

NEW YORK CITY — A joint venture between Fetner Properties, MCB Real Estate and Farallon Capital Management has acquired Verdant Fort Greene, a residential building located within the Fort Greene neighborhood of Brooklyn, for $209 million. M&T Realty Capital Corp. (MTRCC) provided a $141.5 million senior loan for the transaction. Situated at 240 Willoughby St., the 30-story, mixed-income complex features 463 units, 147 of which are designated for affordable housing. The joint venture purchased Verdant Fort Greene and assumed the ground lease at construction completion and prior to lease-up. The property was 25 percent leased at the time of sale, according to Fetner. “We’re very bullish on New York City, and this acquisition is another step in our continued commitment to provide quality affordable and market-rate housing to the city,” says Hal Fetner, president and CEO of Fetner Properties. The complex, which is located directly across from Fort Green Park, offers studios, one- and two -bedroom floorplans ranging in size from 370 square feet to 792 square feet, with the top four floors featuring penthouse suites. Apartments also offer private terraces, floor-to-ceiling windows, custom integrated Bluetooth speaker systems and in-unit washers/dryers.   Additionally, Verdant Fort Greene features more than 30,000 …

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Affordable HousingDevelopmentLoansMultifamilySeniors HousingTexas

Lument Provides $33.6M Agency Construction Loan for Dallas Affordable Seniors Housing Project

by Taylor Williams

DALLAS — New York City-based Lument has provided a $33.6 million Freddie Mac construction loan for The Culbreath, a 364-unit affordable seniors housing project in Dallas. The Culbreath will be reserved for seniors age 62 or older and will consist of 270 one-bedroom units and 94 two-bedroom units. Amenities will include a clubhouse, fitness center, library, game room, multipurpose room, pool, pickleball and bocce ball courts and two dog parks. The opening is slated for summer 2027. Tracy Peters and Dale Giffey led the transaction for Lument on behalf of DHA Housing Solutions of North Texas and Volunteers of American National Services.

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Fields-West-Frisco
DevelopmentLoansMixed-UseTexasTop Stories

Hunt Realty, Karahan Receive $425M Construction Loan for Fields West Mixed-Use Development in Frisco, Texas

by Taylor Williams

FRISCO, TEXAS — A partnership between Hunt Realty Investments and The Karahan Cos. has received a $425 million construction loan for Fields West, a 55-acre mixed-use project in Frisco, a northern suburb of Dallas. A consortium of Bank of America, J.P. Morgan Chase and Prosperity Bank provided the financing. Additionally, as part of the development agreement, the City of Frisco recently sold $70 million in municipal bonds as its contribution to the financing of Fields West. Fields West, which was announced in 2022 as a $2 billion development, will be an urban village within the 2,500-acre Fields master-planned community. Plans currently call for 350,000 square feet of shopping, dining and entertainment space and 325,000 square feet of Class A office space. Gensler is the master plan architect of the development. Construction of the retail, restaurant and entertainment space is now underway. The opening of this element of the project will be staggered between the third quarter of 2027 and into 2028. That space is 70 percent preleased to a variety of national brands, boutique retailers and first-to-market operators, such as Bloomie’s (a Bloomingdale’s concept), Alo Yoga, Arhaus, Kendra Scott, Pottery Barn, Sephora and Williams Sonoma. On the restaurant front, concepts …

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Troy Marek Regions Real Estate Capital Markets quote from article
Content PartnerFeaturesLeasing ActivityLoansMidwestMultifamilyNortheastRegions Real Estate Capital MarketsSeniors HousingSoutheastTexasWestern

Multifamily, Seniors Housing Sectors Remain Positive Real Estate Performers

by Sarah Daniels

By Troy Marek, Regions Real Estate Capital Markets As we embark on the second half of 2025 amid some economic uncertainty, there are two bright spots within real estate. Both the multifamily and the seniors housing/healthcare sectors boast strong fundamentals and occupancies. RealPage data indicates 138,302 apartment units were absorbed in the first quarter, and NIC MAP data shows a seniors housing occupancy increase to 87.4 percent, or 621,000 occupied units over the same period. This suggests strong demand in both critical housing sectors, at the same time new supply is slowing.  Interest Rates Drive Lending Activity Agencies Freddie Mac, Fannie Mae and HUD remain the primary loan providers supporting these two asset classes today. Unsurprisingly, interest rates heavily impact lending activity. Since the Federal Reserve decided to hold rates steady in May, sector experts have been closely watching employment and inflation data, as well as tariff impacts, as all three have the power to influence the Fed to lower rates later this year. With the Federal Reserve deciding to hold rates as-is in June, industry players will continue to keep an eye on the data. Once rates are brought down some, perhaps later this year, multifamily and seniors housing/healthcare …

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300-Park-Avenue-Manhattan
LoansNew YorkNortheastOffice

Tishman Speyer Receives $385M Refinancing of Midtown Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Local real estate giant Tishman Speyer has received a $385 million refinancing for 300 Park Avenue, a 25-story office building in Midtown Manhattan. Originally built in 1955, 300 Park Avenue totals 770,000 square feet and was fully leased at the time of the loan closing. A consortium of lenders led by J.P. Morgan Chase and including Deutsche Bank Securities and Morgan Stanley provided a $330 million CMBS loan with a fixed interest rate of 5.44 percent. Macquarie Capital Principal Finance provided $55 million in mezzanine financing to complete the capital stack.

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LoansMultifamilyNew YorkNortheast

M&T Realty Capital Provides $50M Agency Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — M&T Realty Capital Corp. has provided a $50 million Freddie Mac loan for the refinancing of The Alyn, a 56-unit apartment building in Manhattan’s Carnegie Hill neighborhood. Completed in 2019, The Alyn offers one-, two-, three-, four- and five-bedroom units and amenities such as a lounge, wellness center and a children’s playroom. Robert Barry led the M&T team that provided the fixed-rate loan. The borrower was an affiliate of Gordon Property Group, a New York-based family office that was introduced to M&T through an existing client of Connor Preece, group manager at M&T Bank.

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DevelopmentHospitalityLoansSoutheastTennessee

Cronheim Hotel Capital Secures $39M Construction Financing for AC Hotel Knoxville Downtown

by John Nelson

KNOXVILLE, TENN. — Cronheim Hotel Capital has secured $39 million in construction financing for AC Hotel Knoxville Downtown, a 161-room AC by Marriott-branded hotel that will be located at 427 Walnut St. and 416 Locust St. in downtown Knoxville. The non-recourse financing was structured with a 75 percent loan-to-cost (LTC) ratio and features a C-PACE component. The borrower, Vector Hospitality Inc., plans to deliver the seven-story hotel in winter 2026. The property will feature a rooftop bar and kitchen that will offer views of Neyland Stadium, home of the University of Tennessee Volunteers’ football team.

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El-Camino-Real-Apts-Oceanside-CA
Affordable HousingCaliforniaDevelopmentLoansMultifamilyWestern

KeyBank Provides $47M in Construction Financing for Affordable Housing Project in Oceanside, California

by Amy Works

OCEANSIDE, CALIF. — KeyBank Community Development Lending and Investment (CDLI) has provided Mirka Investments a $32 million tax-exempt construction loan and a $15 million taxable construction loan to finance the development of El Camino Real, an affordable housing community at 2136 S. El Camino Real in Oceanside. Additionally, a $27.8 million permanent loan will be privately placed with one of KeyBank Commercial Mortgage Group’s (CMG) institutional investors. El Camino Real will feature a four-story residential building with 111 two- and three-bedroom apartments for families earning between 30 and 80 percent of the area median income. The property will include a leasing office and community area within a 6,500-square-foot common space, including outdoor recreation space and central laundry rooms on each floor. Supportive services will be provided by Mission Neighborhood Centers, which offers educational programs, workforce development, homelessness prevention and social services. The project received an additional $32 million construction loan from the California Municipal Finance Authority through a Multifamily Housing Private Activity Bond issuance, $12.9 million in certificated credits from the City of Oceanside State Housing Tax Credit program via Monarch Private Capital and $16 million in federal Low-Income Housing Tax Credit equity from WNC. Matthew Haas of KeyBank CDLI structured …

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DevelopmentLoansMultifamilyNorth CarolinaSoutheast

ATCO Obtains $66M Refinancing for Kinship Apartments in North Charlotte

by John Nelson

CHARLOTTE, N.C. — ATCO Properties & Management has obtained a $66 million loan for the refinancing of Kinship, a newly built, 301-unit apartment community in Charlotte. The property is the first multifamily component to come on line at Camp North End, a 76-acre adaptive reuse development on the north end of Charlotte. Mark Gallinaro of WelcomeLend arranged the three-year bridge loan from Benefit Street Partners. Kinship was 35 percent occupied at the time of the loan closing. The property features studio, one- and two-bedroom apartments with some live-work floorplans and fully furnished corporate housing options. Amenities include work-from-home office spaces, an outdoor pool and lounge area, gas grills and fire pits, fitness center, communal kitchen, conference room, bike storage, rideshare spots, a parking garage and a shared rooftop space. Greystar operates Kinship on behalf of ATCO.

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LoansMichiganMidwestMultifamily

Eastern Union Secures $38.5M Loan for Refinancing of Metro Detroit Multifamily Property

by Kristin Harlow

WARREN, MICH. — Eastern Union has arranged a $38.5 million loan for the refinancing of Warren Manor Apartments in Warren, about 13 miles north of downtown Detroit. The 479-unit multifamily property is situated on 30.7 acres at 21516 Dequindre Road. Alex Jaffa and Sinai Eizikovitz of Eastern Union arranged the loan through Bellco Credit Union. The full loan amount included initial funding of $35.7 million, with the ability to earn an additional $2.8 million as rental revenues rise. The refinancing carried a five-year, fixed-rate term with one year of interest-only payments. The borrower was undisclosed. Built in 1969, the property comprises 12 two-story buildings and a one-story pool house. Units average 811 square feet. Since 2023, ownership has completed approximately $5 million in capital improvements.

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