Loans

Berkadia Arranges $38.6M Refinancing of Apartment Community in Tampa

by Abby Cox July 1, 2025

TAMPA, FLA. — Berkadia has arranged $38.6 million in debt and equity financing for the recapitalization of Pointe at Carrollwood, a 224-unit apartment community located at 4949 Marbrisa Drive in Tampa. The financing includes a $29.9 million, five-year, fixed-rate Freddie Mac loan and a preferred equity investment of $8.4 million from Miami-based Atlantic Pacific Cos. Scott Wadler, Matt Nihan, Matt Robbins, Brad Williamson and Mitch Sinberg of Berkadia originated the financing package on behalf of the borrower, Miami-based Beacon Real Estate Group. Originally built in 1984, Pointe at Carrollwood offers one- and two-bedroom apartments ranging in size from 629 square feet to 1,050 square feet. Since purchasing the property in March 2022, Beacon has invested $3.6 million in capital improvements to renovate units with modern cabinetry, stainless steel appliances, quartz or granite countertops, walk-in closets and expanded balconies or patios. Community amenities include a swimming pool with grilling options, fitness center, boardwalk, 24-hour laundry center, car care station and a playground. Situated near Tampa International Airport and Busch Gardens, the apartment complex was 95 percent occupied at the time of financing.

July 1, 2025

University of North Carolina at Chapel Hill’s Innovation Hub

Loans Mixed-Use North Carolina Southeast

Avison Young Secures $26M Refinancing for UNC Chapel Hill’s Innovation Hub in North Carolina

by Abby Cox July 1, 2025

CHAPEL HILL, N.C. — Avison Young has secured a $26 million bridge loan for the refinancing of University of North Carolina at Chapel Hill’s Innovation Hub, a 122,000-square-foot newly renovated mixed-use development located across the street from the university. Bayview Commercial Mortgage Finance provided the five-year loan to repay the existing construction loan and fund future capital needs. Hal Kempson of Avison Young represented the developer, Grubb Properties. Situated at the corner of 136 E. Rosemary St. and 137 E. Franklin St., the Innovation Hub features office and retail space and is part of the Carolina Economic Development Strategy that aims to retain and attract innovation-driven businesses and talent. Recent renovations at the property have featured the installation of oversized windows, a fresh exterior to match the neighboring buildings and a new lobby at the 136 East Rosemary office building, as well as parking deck improvements. Tenants at the Innovation Hub include Innovate Carolina, Launch Chapel Hill and BioLabs. Hillman Duncan and Taylor McCuiston of JLL lead leasing efforts for the property on behalf of Grubb Properties.

July 1, 2025

Industrial Loans North Carolina Southeast

PGIM Real Estate Provides $100M Loan for North Carolina Industrial Portfolio

by Abby Cox July 1, 2025

CHARLOTTE AND RALEIGH, N.C. — PGIM Real Estate has provided a $100 million loan for the financing of a 12-property industrial portfolio located in the greater Charlotte and Raleigh markets. Trace Wilson of PGIM Real Estate led financing efforts for the transaction on behalf of the borrower, Beacon Partners. The portfolio comprises 11 fully occupied industrial properties totaling nearly 1.6 million square feet, as well as one industrial outdoor storage (IOS) property. Beacon will use the fixed-rate financing to reposition and expand the portfolio, according to Wilson.

July 1, 2025

Development Loans Multifamily New York Northeast

Baron Property Group, LargaVista Receive $388.5M in Construction Financing for Queens Multifamily Project

by Taylor Williams July 1, 2025

NEW YORK CITY — A partnership between two developers, New York-based Baron Property Group and Miami-based LargaVista Cos., has received $388.5 million in construction financing for a 561-unit multifamily project in the Long Island City neighborhood of Queens. Designed by CetraRuddy, the development will consist of 451 apartments and 110 condos, as well as 21,000 square feet of retail space, that will be housed within a 46-story building at 30-25 Queens Blvd. Starwood Capital Group, Gotham Organization and Blackstone Real Estate Debt Strategies provided the financing, which was co-arranged by Ayush Kapahi of HKS Real Estate Advisors and Anthony Ledesma of DIA Capital Group. Rental and condo residences will feature studio, one- and two-bedroom floor plans. Amenities will include a rooftop pool, basketball and pickleball courts, a content creation and recording studio, fitness center, private outdoor terraces with grilling stations, a solarium with a kitchen, pet spa, coworking lounges and a game room. Completion is slated for 2028.

July 1, 2025

Affordable Housing Development Loans Multifamily New York Northeast

BFC Partners Lands $250M Construction Loan for Coney Island Affordable Housing Project

by Taylor Williams July 1, 2025

NEW YORK CITY — Locally based developer BFC Partners has landed a $250 million construction loan for 1709 Surf Avenue, a 420-unit affordable housing project on Coney Island. The project marks the third and final phase of a 1,242-unit, three-building affordable housing development along Surf Avenue that is valued at approximately $700 million. Income restrictions across the three buildings range from 30 to 130 percent of the area median income. Project partners include the New York City Department of Housing Preservation and Development, the New York City Housing Development Corp. and Citi Community Capital. Construction is slated for a 2028 completion.

July 1, 2025

California Loans Multifamily Western

IPA Arranges $61M Construction Financing for Apartment Property in San Mateo, California

by Amy Works July 1, 2025

SAN MATEO, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has secured $61 million in financing for the construction of Arbello, a mixed-use multifamily and office property in San Mateo. Located at 477 9th Ave., the five-story property will feature 120 for-rent apartments and 29,000 square feet of office space. Onsite amenities will include a coworking space, wellness center, clubhouse, expansive courtyard and rooftop deck. Brandon Roth of IPA advised and marketed the financing on behalf of The Martin Group and JPF Capital.

July 1, 2025

Development Hospitality Loans Top Stories Utah Western

Extell Development Secures $600M Construction Loan for Four Seasons Resort and Residences in Park City, Utah

by John Nelson July 1, 2025

PARK CITY, UTAH — Extell Development Co., a national real estate development firm based in New York City, has secured a $600 million construction loan for Four Seasons Resort and Residences Deer Valley, a new hospitality and condominium development currently underway in Park City, Utah’s premier ski town. New York-based JVP Management provided the financing. Extell broke ground on the development earlier this spring and plans to deliver the property in 2028. Designed by ODA Architecture, Four Seasons Resort and Residences Deer Valley will feature one- to seven-bedroom hotel suites ranging in size from 1,200 to 7,000 square feet, all with direct ski-in/ski-out access. Amenities at the property will include wellness and fitness facilities with saunas, steam rooms, whirlpools and spa services, as well as four dining venues and a ski-in/ski-out lounge with an outdoor terrace and fireplace. Additional amenities will include access to 50 miles of hiking and biking trails, an ice rink, indoor sports court and indoor and outdoor pools with panoramic views and private cabanas. The property will also feature a grand ballroom, three meeting rooms and an outdoor event terrace. Upon completion, the development will include a building with 68 private one- to five-bedroom residences as …

July 1, 2025

Acquisitions Loans Southeast Virginia

Atlantic Union Bank Closes Sale of $2B of Commercial Real Estate Loans to Blackstone

by John Nelson June 30, 2025

RICHMOND, VA. AND NEW YORK CITY — Atlantic Union Bank has closed the sale of approximately $2 billion of the banks’ commercial real estate loans to vehicles affiliated with Blackstone Real Estate Debt Strategies. Atlantic Union acquired the loan portfolio during its merger proceedings with Sandy Spring Bank, which closed on April 1, 2025. Atlantic Union intends to use the proceeds from the loan sale to pay down certain high-cost deposits and other high-cost funds, as well as to add to its securities portfolio. Blackstone Real Estate has acquired $20 billion of commercial real estate loan portfolios in the past 24 months, including from Signature Bank and German lender Deutsche Pfandbriefbank (PBB).

June 30, 2025

Acquisitions Florida Loans Multifamily Southeast

Berkadia Arranges $44.6M Sale, Financing of Multifamily Community in Jacksonville, Florida

by Abby Cox June 27, 2025

JACKSONVILLE, FLA. — Berkadia has arranged the $44.6 million sale of Addison Landing, a 289-unit, garden-style multifamily community located in Jacksonville. Greg Rainey of Berkadia represented the seller, Florida-based WRH Realty, in the transaction. The buyer was Tampa, Florida-based Argyle Real Estate Capital. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia also secured $31.3 million in financing through a Freddie Mac loan for the acquisition. The 10-year floating loan features interest-only payments for seven years. Built in 2007 on a 19-acre site, Addison Landing comprises 34 two- and three-story buildings. Floorplans at the property include one-, two-, three- and four-bedroom units totaling up to 1,425 square feet, according to Apartments.com. Select units also offer private, fenced yards, vaulted ceilings and lake views. Amenities at the community include a swimming pool, sun deck, outdoor kitchen and poolside lounge, clubhouse with a fitness center, billiards room, business center, playground, dog park, pet stations, package locker system and detached garages. The revious ownership invested $4.6 million in community enhancements.

June 27, 2025

Loans New York Northeast Office

BBCP Arranges $42.5M CMBS Loan for Refinancing of Long Island Office Portfolio

by Taylor Williams June 27, 2025

HAUPPAUGE AND ISLANDIA, N.Y. — Black Bear Capital Partners (BBCP) has arranged a $42.5 million CMBS loan for the refinancing of the 400,000-square-foot Crossroads Office Portfolio on Long Island. The portfolio consists of 13 buildings in Hauppauge and Islandia that were constructed between 1984 and 1989. Tenants include Stifel, Nicolaus & Co., Massachusetts Mutual Life Insurance Co., Flushing Bank and Bankers Conseco. Bryan Manz and Emil DePasquale of BBCP arranged the financing, which carried a 10-year term and a 55 percent loan-to-value ratio, through Morgan Stanley on behalf of the borrower, The Crest Group.

June 27, 2025

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