Thursday, November 20, 2025
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GeorgiaLoansSoutheastStudent Housing

Mesa West Capital Originates $134M Loan for Student Housing Community Near University of Georgia

by John Nelson

ATHENS, GA. — Mesa Capital West has provided a $134 million loan to refinance Rambler Athens, a newly constructed, 750-bed student housing complex located adjacent to the University of Georgia in Athens. The four-year loan will refinance the existing construction loan for the property. Harrison Reid of TSB Capital Advisors arranged the financing on behalf of the borrower, Austin-based developer LV Collective. Brian Hirsh and Jonah Sacks of Mesa Capital West’s Chicago office, alongside Russell Frahm from the firm’s New York office, originated the loan. Situated along Broad Street, Rambler Athens was completed in August 2024. The residence offers 342 units across eight floors, ranging from studio to five-bedroom apartments. Amenities at the property include a resort-style pool and hot tub, sun deck with a Jumbotron, fitness center, saunas, workspaces and private study rooms, grilling area and a secured-access parking garage. Additionally, the ground floor includes an integrated coffeeshop, as well as a variety of study spaces. Preleasing at the property is currently available for the 2025/2026 academic year.

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FloridaLoansMultifamilySoutheast

Thorofare Capital Funds $74M Bridge Loan for Refinancing of Jacksonville Multifamily Community

by John Nelson

JACKSONVILLE, FLA. — Thorofare Capital has provided a $74 million bridge loan for the refinancing of The Residences at Enso, a 304-unit multifamily community located 20 miles east of downtown Jacksonville along the Saint Johns River. Jeff Kinney and Phil Rachels of CBRE’s Jacksonville office arranged the loan on behalf of the borrower, Trevato Development Group, which will use the 2.5-year floating-rate loan to repay the original construction loan on the property. The Residences at Enso is more than 90 percent leased and features nine, four-story buildings across 22 acres. Floorplans range from 669 square feet to 1,599 square feet in size, with carriage houses, studios and one-, two- and three-bedroom apartment options, according to Apartments.com. Amenities include a walk-in swimming pool with a sun shelf, 24-hour fitness and training studio, resident clubhouse with private event space, conference room and workspace seating, summer kitchen with seating, coffee bar and a pet spa. The property also offers a courtyard with landscaping, open-air pavilion and cabanas, outdoor fireplace and a nature trail.

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LoansMarylandMultifamilySoutheast

Pealmark Provides Mezzanine Loan for 311-Unit Multifamily Property in Hanover, Maryland

by John Nelson

HANOVER, MD. — Pearlmark has provided a mezzanine loan for the refinancing of Bristol Court Apartments, a 311-unit multifamily property in Hanover, roughly 12 miles south of Baltimore. Pearlmark originated the loan via its investment fund, Pearlmark Mezzanine Realty Partners VI LP. Benefit Street Partners provided the senior loan for the refinancing. Kevin Tehan of Columbia National Real Estate Finance LLC arranged the financing on behalf of the owner and developer, Preston Scheffenacker Properties. Located within the Oxford Square planned community near the Dorsey MARC passenger rail station, Bristol Court comprises one-, two- and three-bedroom apartments. The property features a swimming pool, two-story fitness center, yoga studio, lobby with coworking spaces and a clubroom with an entertainment kitchen and fireplace. Additional amenity offerings include a library, lounge with a pool table, pet spa, foosball and shuffleboard, courtyard with a fire pit and grills, as well as a playroom for children.

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Potranco-Commons-San-Antonio
LoansMultifamilyTexas

Ladder Capital Provides $58.7M Loan for Refinancing of San Antonio Apartment Community

by Taylor Williams

SAN ANTONIO — New York City-based lender Ladder Capital has provided a $58.7 million bridge loan for the refinancing of Potranco Commons, a 360-unit apartment community located in San Antonio’s Far West Side submarket. Residences at Potranco Commons come in one-, two- and three-bedroom formats, range in size from 541 to 1,355 square feet and are housed across 15 three-story buildings. Approximately 40 percent of the units are reserved for renters earning 80 percent or less of the area median income. Amenities include a clubhouse, pool, fitness center, coffee bar, sand volleyball court, pet park, outdoor grilling and dining stations, multiple open green spaces and a DJ booth. Kevin O’Grady and Daniel Eidson of South Florida-based intermediary Concord Summit Capital arranged the loan on behalf of the borrower, locally based developer The Lynd Group.

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LoansMidwestMissouriMultifamily

Gantry Secures $10M Loan for Refinancing of Multifamily Property in Suburban Kansas City

by Kristin Harlow

INDEPENDENCE, MO. — Gantry has secured a $10 million loan for the refinancing of Hillside Apartments in the Kansas City suburb of Independence. The garden-style, three-story property features 108 multifamily units across 14 buildings at 111 Hillside Drive. The fully stabilized asset underwent a complex-wide renovation. Mark Reichter and Alec Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. Fannie Mae provided the seven-year, fixed-rate loan, which features an interest-only introductory period followed by a 30-year amortization.

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LoansMichiganMidwestOffice

Bernard Financial Group Arranges $3.5M in Financing for Office Building in Clinton Township, Michigan  

by Kristin Harlow

CLINTON TOWNSHIP, MICH. — Bernard Financial Group (BFG) has arranged a $3.5 million loan for an office building in Clinton Township, a northern suburb of Detroit. Joshua Bernard of BFG arranged the loan through a banking institution. The borrower was River Ridge Office Building II LLC.

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LoansMultifamilyNorthmarqPennsylvania

Northmarq Provides $19.2M Agency Loan for Refinancing of Apartment Complex in Hershey, Pennsylvania

by Taylor Williams

HERSHEY, PA. — Northmarq has provided a $19.2 million Fannie Mae loan for the refinancing of Rosedale Apartments, a 160-unit apartment complex in Hershey, located just outside of Harrisburg. Built on 30 acres in 1972, Rosedale offers one- and two-bedroom units and amenities such as a pool, fitness center, dog park, tennis court and common green spaces. John Banas and Kris Wood of Northmarq originated the 10-year loan on behalf of the borrower, locally based investment firm Boyd Wilson.

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HospitalityLoansNew YorkNortheast

Mag Mile Capital Arranges $14.5M CMBS Loan for Marriott-Branded Hotel in Rochester

by Taylor Williams

ROCHESTER, N.Y. — Mag Mile Capital, a Chicago-based commercial mortgage banking firm, has arranged a $14.5 million CMBS loan for a 210-room, Marriott-branded hotel in Rochester. The hotel was built in 1979 and is located near Rochester International Airport. The five-year, nonrecourse loan carried a 65 percent loan-to-value ratio and a 30-year amortization schedule with two years of interest-only payments. Prabhat Jayara of Mag Mile Capital originated the loan through Morgan Stanley on behalf of the borrower, Sai Global Investments.

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Avalon-Wesmont-Station-Wood-Ridge-New-Jersey
AcquisitionsLoansMultifamilyNew JerseyNortheastTop Stories

JLL Brokers $161.5M Sale of Northern New Jersey Apartment Community

by Taylor Williams

WOOD-RIDGE, N.J. — JLL has brokered the $161.5 million sale of Avalon at Wesmont Station, a 406-unit apartment community located at 100 Rosie Square in Wood-Ridge, about 15 miles west of Manhattan. Avalon at Wesmont Station was built in 2012-2013 and offers one-, two- and three-bedroom units with an average size of 959 square feet. Amenities include a pool, outdoor grilling and dining stations, resident clubroom with workstations and a fitness center. The property also houses 18,000 square feet of ground-floor retail space that is fully leased. Jose Cruz, Steve Simonelli, Michael Oliver, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, Virginia-based REIT AvalonBay Communities Inc. (NYSE: AVB), in the transaction. The buyer was New York-based Cammeby’s International Group. Ryan Koehler of NewPoint Real Estate Capital originated a $112 million Freddie Mac acquisition loan, which carried a 10-year term and six years of interest-only payments, for the deal. “The sale of Avalon at Wesmont Station demonstrates the continued investor appetite for well-located, institutional-quality multi-housing assets in strong suburban markets near New York City,” says Cruz. “This property’s strategic location, coupled with its value-add potential through unit renovations, made it an attractive investment opportunity in today’s market.” The apartment …

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AcquisitionsLoansMultifamilySoutheastVirginia

Greysteel Brokers Sale of 173-Unit Sherwood Forest Apartments in Norfolk, Virginia

by John Nelson

NORFOLK, VA. — Greysteel has brokered the sale of Sherwood Forest, a 173-unit apartment community located at 2803 Early St. in Norfolk. Otto Snell of Greysteel represented the seller in the transaction. The buyer, seller and sales price were not disclosed. Jack Whitman of Greysteel arranged a $16 million acquisition loan through an undisclosed credit union that was underwritten with a fixed interest rate, 80 percent loan-to-value ratio, two years of interest-only payments and no prepayment penalty. The loan includes funds for property improvements at Sherwood Forest, which was originally delivered in 1965.

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