Wednesday, June 25, 2025
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District of ColumbiaIndustrialLoansSoutheast

PRP Obtains $291M CMBS Loan for 4.5 MSF National Logistics Portfolio

by John Nelson

WASHINGTON, D.C. — PRP has obtained a $291 million CMBS loan for the refinancing of a national logistics portfolio totaling more than 4.5 million square feet. Eastdil Secured arranged the single-asset single-borrower (SASB) loan through JP Morgan. The portfolio spans five newly constructed buildings in the industrial markets of Houston; Greenville-Spartanburg, S.C.; St. Louis, Ill.; and Birmingham, Ala. The properties were fully leased at the time of financing including to tenants including a global online retailer, a home improvement company and power tool manufacturer, according to Washington, D.C.-based PRP.

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ColoradoLoansMultifamilyOregonWestern

BWE Arranges $260M Loan for Refinancing of National Multifamily Portfolio

by Kristin Harlow

DENVER AND BEAVERTON, ORE. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a national portfolio of six multifamily properties totaling roughly 1,500 units. Two of the properties — Hartley Flats and Studio LoHi — are located in Denver, and a third, Victory Flats, is located in Beaverton, Ore. The other properties in the portfolio are in Austin and Charlotte. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the time of the loan closing. Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed.

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299-Franklin-St-Redwood-City-CA
AcquisitionsCaliforniaLoansMultifamilyWestern

Walker & Dunlop Secures $113M Acquisition Financing for Bay Area Multifamily Community

by Amy Works

REDWOOD CITY, CALIF. — Walker & Dunlop has secured $113 million in financing on behalf of Acacia Capital for the acquisition of 299 Franklin, a Class A multifamily property located at 299 Franklin St. in Redwood City. Jeff Burns, Chris Botsford, Rene Alvarez, Jeff Conahan and Matt DeMarche of Walker & Dunlop Multifamily Finance team arranged the financing. Built in 2013, 299 Franklin offers 304 market-rate studio, one- and two-bedroom apartments, including 11 direct-access townhomes, with an average unit size of 845 square feet. Community amenities include a rooftop deck, fitness center, swimming pool and spa deck, business and resident lounges, bicycle parking and electric vehicle charging stations.

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University-Hills-Denver-CO
AcquisitionsColoradoLoansRetailWestern

KPR Centers Receives $33.9M in Financing to Acquire University Hills Retail Center in Denver

by Amy Works

DENVER — KPR Centers has received $33.9 million in financing for the acquisition of University Hills, a grocery-anchored shopping center in Denver. The name of the seller and final sales price were not released. Sunny Sajnani and Travis Headapohl of Institutional Property Advisors (IPA) Capital Markets arranged the five-year life company financing, which includes fixed-rate, full-term interest-only payments and prepayment open at par for the last year. Tom Lagos of IPA retail investment sales procured the buyer in the sales transaction. At the time of sale, University Hills was fully occupied. Tenants include King Soopers, Michaels, Marshalls, Office Depot and Ulta.

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LoansMultifamilyStudent HousingTexas

Colliers Mortgage Arranges $34.6M Acquisition Loan for Student Housing Property Near University of Texas at Tyler

by Taylor Williams

TYLER, TEXAS — Colliers Mortgage has arranged a $34.6 million acquisition loan for The Foundry, a 675-bed student housing property that serves the University of Texas at Tyler, located about 120 miles east of Dallas. The Foundry is located across the street from campus and offers amenities such as a pool, clubhouse, game room, fitness center, outdoor picnic and grilling areas and a sand volleyball court. Greg Young of Colliers Mortgage originated the debt, which includes proceeds for capital improvements.  The borrower and direct lender were not disclosed.

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IllinoisLoansMidwestOffice

JLL Arranges $32M Loan for Refinancing of 15-Story Office Building in Chicago

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged a $32 million loan for the refinancing of 609 West Randolph, a 15-story boutique office building totaling 95,000 square feet in Chicago. Completed in 2022, the property features touchless technology, cutting edge building systems and flexible floor plates ranging from 5,500 to 7,100 square feet. Amenities include a penthouse lounge and conference room; green rooftop space and amenity terrace; offices with private outdoor terraces; and a lobby design inspired by boutique hotels. The asset is 93.5 percent leased to 10 tenants, including Fetch Rewards, Buford Capital and NTT Data. Christopher Knight, Matt Maksymec and Katia Novi of JLL represented the borrower, Vista Property. JP Morgan Chase & Co. provided the five-year loan, which features a fixed interest rate of 7.23 percent.

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2401-W.-Emaus-Ave.-Allentown
DevelopmentLoansNortheastPennsylvania

JLL Arranges $22M Construction Loan for Lehigh Valley Industrial Project

by Taylor Williams

ALLENTOWN, PA. — JLL has arranged a $22 million construction loan for a 224,000-square-foot industrial project in the Lehigh Valley city of Allentown. The project at 2401 W. Emaus Ave. will be a warehouse and distribution facility with a clear height of 36 feet, 43 dock-high doors and parking for 129 cars and 42 trailers. JLL arranged the floating-rate construction loan through BHI, the U.S. division of Israeli lender Bank Hapoalim, on behalf of the borrower, Woodmont Industrial Partners. Construction is expected to last between 12 to 18 months.

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FloridaLoansOfficeSoutheast

JLL Arranges $68.2M Refinancing for Royal Palm Office Complex in South Florida

by John Nelson

PLANTATION, FLA. — JLL has arranged a $68.2 million loan for the refinancing of Royal Palm I and II, a two-building office complex totaling more than 460,000 square feet in Plantation, a city in South Florida’s Broward County. Paul Stasaitis and Maddy McMillen of JLL arranged the fixed-rate loan through Barclays on behalf of the borrower, Dallas-based Lincoln Property Co. Constructed between 2001 and 2007, Royal Palm consists of two towers standing eight and nine stories tall and a four-level, 1,927-space parking garage. The 25.4-acre campus was recently renovated and includes an amenity package comprising modern conference rooms, a full fitness center, a wellness room and other tenant services.

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Moderne-Rocking-K-Vail-AZ
ArizonaBuild-to-RentLoansSingle-Family RentalWestern

Calmwater Capital Funds $41.1M in Refinancing for Build-to-Rent Community Near Tucson, Arizona

by Amy Works

VAIL, ARIZ. — Calmwater Capital has provided Moderne Communities with a $41.1 million loan to refinance Moderne at Rocking K, a build-to-rent property in Vail, a community 24 miles southeast of Tucson. Moderne at Rocking is situated within Rocking K, a 5,000-acre master-planned community. Delivered in two stages between November 2023 and September 2024, the 17.1-acre community features 224 single-story, single-family rental homes offering a mix of one-, two- and three-bedroom floor plans. Each home features open-concept living areas, a private yard and nine-foot ceiling. Community amenities include a beach entry pool and spa, pickleball courts, barbecue and firepit area, and fitness center. Malcolm Davies and RJ Opeka of Los Angeles-based Way Capital arranged the two-year senior loan for the borrower.

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LoansMidwestMultifamilyNorth Dakota

Bernard Financial Group Arranges $3M Loan for Refinancing of North Dakota Multifamily Community

by Kristin Harlow

WILLISTON, N.D. — Bernard Financial Group (BFG) has arranged a $3 million Freddie Mac loan for the refinancing of The Birches Townhomes in Williston, a city in western North Dakota. The 60-unit multifamily rental property was built in 2015. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Birches Owner LLC.

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