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ArizonaLoansOfficeRetailWestern

Gantry Secures $16.7M Refinancing for Plaza Colonial Office, Retail Property in Tucson

by Amy Works

TUCSON, ARIZ. — Gantry has secured a $16.7 million permanent loan to refinance Plaza Colonial, an office and retail property in Tucson. Located at 2840-2890 E. Skyline Drive and 6375 N. Campbell Ave., Plaza Colonial offers 83,869 square feet of retail and office space spread across four buildings. Patrick Barkley and Chad Metzger of Gantry represented the borrower, a private real estate investor. An institutional balance sheet lender provided the five-year, fixed-rate loan, which features full-term interest-only payments. Gantry will service the loan.

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Rise-at-Loop-410
IndustrialLoansTexas

Tremont Realty Capital Provides $28M Loan for Refinancing of San Antonio Industrial Building

by Taylor Williams

SAN ANTONIO — Tremont Realty Capital, a division of Boston-based investment firm RMR Group, has provided a $28 million bridge loan for the refinancing of Rise at Loop 410, an approximately 360,000-square-foot warehouse and distribution building in San Antonio. According to LoopNet Inc., the cross-dock building offers 36-foot clear heights, 106 exterior dock doors and 280 parking spaces. Tremont funded the floating-rate loan, which has a three-year initial term with two one-year extension options, through its affiliate, Seven Hills Realty Trust (NASDAQ: SEVN). Cushman & Wakefield arranged the debt on behalf of the owner, Connecticut-based Grandview Partners.

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DevelopmentLoansMixed-UseMultifamilyRestaurantRetailSoutheastVirginia

PREIT Obtains $150M Loan to Recapitalize Springfield Town Center in Northern Virginia

by John Nelson

SPRINGFIELD, VA. — PREIT has closed on a $150 million loan for Springfield Town Center, a mixed-use redevelopment of the former Springfield Mall in Northern Virginia. The property includes more than 1 million square feet of retail space, including a 32,000-square-foot LEGO Discovery Center that opened in 2023. Other tenants include Build-A-Bear, Burger King, Chuy’s, Dave & Buster’s, Dick’s Sporting Goods, Finish Line, Five Below, H&M, Hot Topic, JC Penney, LA Fitness, Macy’s, Maggiano’s, Nordstrom Rack, Regal Cinema, Sephora, Toys “R” Us and Target, among others. Springfield Town Center will also include a 460-unit apartment community that is underway, along with a hotel and public park. The property will also house another 400 apartments that are in the planning stages and expanded parking that will have skybridge connectivity between the development’s various components. Goldman Sachs and Barclays Bank were the lead lenders for the five-year loan, which features interest-only payments and a fixed interest rate of 7.1 percent. With the new financing, PREIT expects to realize more than $5.1 million in annual interest savings.

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FloridaLoansMultifamilySoutheastWalker & Dunlop

Walker & Dunlop Arranges $87.3M Refinancing for 2000 Biscayne Apartment Tower in Miami

by John Nelson

MIAMI — Walker & Dunlop has arranged an $87.3 million loan for the refinancing of 2000 Biscayne, a new 36-story apartment tower in Miami. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Dustin Stolly, Jordan Casella, Christopher de Raet and Stanley Cayre of Walker & Dunlop’s New York City capital markets team arranged the financing on behalf of the borrower, a joint venture that includes Kushner Cos. and PTM Partners. Corebridge Financial provided the loan. The 420-unit property comprises 75 studios, 204 one-bedroom, 129 two-bedroom and 12 three-bedroom apartments. Amenities include coworking spaces, community dining areas, a fitness center with locker rooms, spa, game room, children’s play area, pet spa and a dog park. 2000 Biscayne was 75 percent leased at the time of financing, a little more than a year after Kushner and PTM Partners began preleasing.

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LoansMultifamilyNorth CarolinaSoutheast

Nuveen Green Capital Closes First C-PACE Loan Ever in North Carolina for Trenton Mill Lofts in Gastonia

by John Nelson

GASTONIA, N.C. — Nuveen Green Capital has closed a $6.5 million C-PACE loan for Trenton Mill Lofts, a new multifamily development in downtown Gastonia, a suburb 20 miles west of Charlotte. The closing marks the first-ever C-PACE financed transaction in the state of North Carolina. Originally built in 1897, the property formerly operated as the Trenton Cotton Mill before being acquired by the borrower, Lansing Melbourne Group, in 2020. The developer renovated the historic mill in 2022 into an 85-unit loft apartment community with a fitness center, lounge, hammock park and a firepit area. Lansing Melbourne used the C-PACE loan to partially pay down its original construction loan and support the stabilization of the property. Hal Kempson of Avison Young arranged the financing. C-PACE, which stands for “Commercial Property Assessed Capital Expenditure,” is now available in 40 states and Washington, D.C.

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HospitalityLoansTexas

Driftwood Capital Provides Mezzanine Financing for 1,841-Room Sheraton Dallas Hotel

by Taylor Williams

DALLAS — Driftwood Capital, a Miami-based lender, has provided new mezzanine financing for the 1,841-room Sheraton Dallas Hotel. Built in 1959, the hotel is located at 400 Olive St. in the downtown area and features 230,000 square feet of meeting and event space and five onsite restaurants, in addition to standard hospitality amenities. The transaction includes the full replacement of a $270 million CMBS loan that was originated in 2024 with a new $300 million senior loan originated by Goldman Sachs and JPMorgan Chase Bank. In tandem, Driftwood upsized its original $30 million mezzanine loan to $35 million. The two-year, floating-rate loan includes three one-year extension options. The sponsor is San Francisco-based Chartres Lodging Group.

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LoansMarylandMultifamilySoutheast

Northmarq Secures $141.7M in Financing for Two High-Rise Apartment Towers in Metro D.C.

by John Nelson

BETHESDA AND SILVER SPRING, MD. — Northmarq has secured $141.7 million in financing for a two-property apartment tower portfolio in Washington, D.C.’s suburban Maryland region. The portfolio includes Solaire 7607 Old Georgetown, a new 22-story, 198-unit tower in Bethesda, and Solaire 1150 Ripley, a 16-story, 295-unit property in downtown Silver Spring that was built in 2012. Jason Smith and Kenneth Gentzel of Northmarq’s D.C. office arranged the financing on behalf of the borrower, Washington Property Co. The direct lender was not disclosed.

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AcquisitionsAlabamaHospitalityLoansSoutheast

Cronheim Hotel Capital Arranges $13.3M Acquisition Loan for Hampton Inn Hotel in Prattville, Alabama

by John Nelson

PRATTVILLE, ALA. — Cronheim Hotel Capital has arranged a $13.3 million acquisition loan for Hampton Inn & Suites, a hotel located at 2590 Cobbs Ford Road in Prattville, a northern suburb of Montgomery, Ala. The new owner plans to fully renovate the hotel. Cronheim arranged the financing on behalf of the undisclosed borrower through a regional bank. The five-year loan features 18 months of interest-only payments and no prepayment penalty for the full term. The Hampton Inn & Suites Prattville has 101 rooms and suites, as well as an outdoor pool, fitness center, meeting rooms and complimentary breakfast, according to the property website.

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LoansMassachusettsMultifamilyNortheast

MMCC Arranges $18.7M in Financing for Three Boston-Area Multifamily Properties

by Taylor Williams

BOSTON — Marcus & Millichap Capital Corp. (MMCC) has arranged $18.7 million in financing across three loans for a trio of multifamily properties in Boston. The properties include the 31-unit Heywood Apartments in Worcester, the 36-unit Eames Apartments in Framingham, a western suburb of Boston, and the 29-unit Summer Street Apartments in Waltham, also located west of the state capital. All three loans carried 6.5 percent interest rates. Robert Damigella of MMCC arranged the loans. The direct lenders and borrowers were not disclosed.

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DevelopmentFloridaLoansMultifamilySoutheast

Oak Row Equities Obtains $210.5M Construction Financing for Apartment Tower in Miami

by John Nelson

MIAMI ­— Oak Row Equities has secured $210.5 million in construction financing for 2900 Terrace, a 324-unit high-rise apartment tower in the Edgewater neighborhood of Miami. The financing package includes a $142.5 million senior loan from Bank OZK and a $68 million mezzanine loan from Canyon Partners Real Estate LLC. Christopher Peck, Brian Gaswirth, Nicco Lupo, Nick Lavin and John Lowe of JLL arranged both loans for Oak Row Equities. Units at 2900 Terrace, designed by Arquitectonica, will be offered in one-, two- and three-bedroom floor plans. The tower’s amenity program will span two levels and include a fitness center, yoga studio, pet spa, coworking spaces with podcast studios, card room, resident lounge, sauna, golf simulator, theater and a children’s playroom. A landscaped deck will offer outdoor amenities including a pool, cold plunge, poolside cabanas and lounge seating, grills and picnic seating, hot tub, summer kitchen, children’s playground and a coworking terrace. Oak Row has begun construction and plans to deliver 2900 Terrace in fourth-quarter 2027.

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