ORANGE PARK, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7 million in financing for a 109,895-square-foot, single-tenant retail property in Orange Park, a suburb of Jacksonville. BJ’s Wholesale Club occupies the building. Garrett Fierstein of MMCC secured the financing through a local credit union on behalf of the borrower, a private client.
NEW YORK CITY — Walker & Dunlop has arranged a $285 million loan for the refinancing of Greenpoint Central, a newly constructed, 473-unit multifamily property located in the Brooklyn neighborhood of the same name. TPG Real Estate Credit provided the loan to the borrower and developer, an affiliate of New York City-based Madison Realty Capital. Sean Reimer, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Ari Hirt, Cole Grims and Nicholas Gilhooley of Walker & Dunlop arranged the debt. Ownership will use proceeds to retire construction debt, support funding reserves and return equity to investors. Greenpoint Central is split between two buildings located at 75 Dupont St. (Phase I) and 65 Dupont St. (Phase II). The property offers studio, one- and two-bedroom apartments, 70 percent of which are rented at market rates and 30 percent of which are subject to income restrictions. Amenities include a fitness center, media lounge, game room, coworking space, golf simulator, children’s playroom, pickleball court and a rooftop deck with grilling and dining stations. The property also features 19,589 square feet of retail space on the ground and cellar floors. “The area’s evolving waterfront, cultural institutions and creative community continue to attract renters, creating sustained demand in the …
SYRACUSE, N.Y. — The Community Preservation Corp. (CPC) has provided a $4.5 million construction loan for a multifamily conversion project in Syracuse. The project will transform the former William Howard Taft School in the city’s Eastwood neighborhood, which opened in 1907 and closed in 1964, into a 28-unit rental complex. The unit mix will comprise six one-bedroom residences and 22 two-bedroom apartments. The developer is Skinner Properties.
BALTIMORE — Capital Funding Group (CFG) has provided a $253.2 million bridge loan for the refinancing of a skilled nursing portfolio. The portfolio includes six facilities in Maryland and one in Virginia. Together, the properties total 1,050 beds. Craig Casagrande, Scott Robinson and Catherine Mansel of Baltimore-based CFG originated the financing for the undisclosed borrower.
CHARLESTON AND BEAUFORT, S.C. — Patterson Real Estate Advisory Group has arranged the recapitalization of a 400,000-square-foot, six-property warehouse portfolio located in coastal South Carolina. The portfolio includes five properties in Charleston and one in Beaufort that were acquired by the borrower, RCB Development, between 2017 and 2023. In March, RCB Development recapitalized the portfolio’s equity with SilverCap Partners and completed the refinancing in November with a new senior loan provided by Ameris Bank. Patterson served as capital advisor to RCB for both transactions. All properties in the portfolio have undergone significant capital improvements, such as addressing deferred maintenance, upgrading landscaping, signage and building exteriors, as well as property-specific renovations. The portfolio was 99 percent leased at the time of the financing.
NEWARK, N.J. — PGIM Real Estate has funded a $140.5 million, floating-rate acquisition loan for a national portfolio of six cold storage facilities totaling approximately 853,000 square feet. The names and addresses of the properties were not disclosed, but the locations are scattered across Boston, Philadelphia, Orlando, Tampa and California’s Inland Empire. The borrower is a partnership between Artemis Real Estate Partners and Provender Partners.
PHILADELPHIA — Los Angeles-based Thorofare Capital has provided $54.5 million in financing for a 624,912-square-foot, newly redeveloped industrial property in Philadelphia. The address of the property was not disclosed, but the multi-level facility includes secured trailer parking and is in the process of being leased up to a mix of credit and institutional tenants. The debt was structured with a floating interest rate. The borrower was also not disclosed.
NEW YORK CITY — JLL Capital Markets has arranged $175 million in construction financing for 155 Third Street, a 22-story, 300-unit apartment tower to be built along the Gowanus Canal in Brooklyn. JLL secured the loan on behalf of the borrower, locally based Monadnock Development. Situated at the confluence of the Carroll Gardens, Gowanus, Park Slope and downtown Brooklyn neighborhoods, 155 Third Street will encompass more than 250,000 net rentable square feet, including 225 market-rate apartments, 75 affordable housing units and more than 30,000 square feet of retail, artist and commercial space. The project is vested in the Affordable New York (421-a) tax abatement. Completion is slated for the fourth quarter of 2027. Amenities will include a pool and terrace, sky lounge, fitness and yoga studios, coworking spaces, a cocktail lounge with fireplace, movie and party rooms and multiple outdoor areas with views of New York Harbor and downtown Brooklyn. The development’s retail frontage along the Gowanus waterfront will tie directly into the planned 7-acre Gowanus Greenway Esplanade, which is part of the larger Brooklyn Waterfront Greenway, a protected route for pedestrians and cyclists connecting the neighborhoods, parks and open spaces of Brooklyn’s waterfront. Christopher Peck, Winfield Clifford, Kellogg Gaines …
PORTLAND, ORE. — Gantry has secured a $17.5 million permanent loan to refinance maturing debt for an apartment community in southwest Portland. The three-story, garden-style community offers 178 one-, two- and three-bedroom floor plans. Apartments include in-unit washers/dryers, gas fireplaces and patios/balconies with carports and/or garages. Community amenities include a clubhouse, pool, spa and fitness center. Blake Hering, Kristin Lapinskas and Abi Hunter of Gantry represented the borrower, a private family office. The 10-year, nonrecourse permanent loan was secured through a life company lender from Gantry’s exclusive correspondent network and features a 25-year amortization at a fixed rate for a legacy hold. Gantry will service the loan.
FILLMORE AND SAN BERNADINO, CALIF. — Helios Healthcare Advisors has arranged the refinancing of a two-property portfolio in California. EVA Care Group was the borrower. The portfolio totals 165 beds across a skilled nursing facility in San Bernardino and an assisted living community in Fillmore. According to Helios, both properties were previously mortgage free, allowing for greater liquidity. Helios secured funding through a private credit fund. The financing was structured to strengthen working capital throughout the borrower’s broader portfolio.
