Loans

Eastern Union Secures $15.9M in Financing for Condo Conversion in Mishawaka, Indiana

by Kristin Harlow October 8, 2025

MISHAWAKA, IND. — Eastern Union has secured $15.9 million in financing toward the condo conversion of River Rock Apartments, an 82-unit property in Mishawaka. The five-story asset is located at 116 W. Mishawaka Ave., six miles east of South Bend. Built in 2015 and 2016, the property features eight commercial units spanning 4,385 square feet that will remain after conversion. The site also includes a 31,027-square-foot parking garage. Joe Siegfried of Eastern Union arranged the three-year loan, which features an 8 percent interest rate, a 75 percent loan-to-value ratio and interest-only payments. Republic Bank provided the loan on behalf of the undisclosed borrower.

October 8, 2025

Loans Michigan Midwest Retail

Bernard Financial Group Arranges $11.5M Loan for Refinancing of Michigan Retail Property

by Kristin Harlow October 8, 2025

ROCHESTER, MICH. — Bernard Financial Group (BFG) has arranged an $11.5 million loan for the refinancing of a 134,600-square-foot retail property in Rochester, a northern suburb of Detroit. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Eagle Creek Master LLC. A life insurance company provided the loan.

October 8, 2025

Loans Multifamily Texas

ParkProperty Capital Refinances 261-Unit Apartment Building in North Austin

by Taylor Williams October 7, 2025

AUSTIN, TEXAS — ParkProperty Capital, an investment firm with offices in Atlanta and Germany, has refinanced The Albright, a 261-unit apartment building in North Austin. Developed in partnership with another Atlanta-based firm, Wood Partners, and completed last summer, The Albright offers studio, one-, two- and three-bedroom units with an average size of 876 square feet. Amenities include a pool, fitness center, coworking lounge, clubroom, gaming area, pet park and a rooftop lounge. Elliott Throne, Josh Odessky and Jayme Nelson of JLL arranged the floating-rate loan through global private equity firm ACRE on behalf of ownership.

October 7, 2025

Affordable Housing California Development Loans Multifamily Western

KeyBank Provides $25.9M Loan for Affordable Housing Development in Compton, California

by Amy Works October 7, 2025

COMPTON, CALIF. — KeyBank Community Development Lending and Investment has provided a $25.9 million loan to finance construction of an affordable housing development at 1434 W. Compton Blvd. in the metro Los Angeles city of Compton. The Coalition for Responsible Community Development (CRCD) has partnered with LandSpire Group to develop the 75-unit community. The project will be a three-story development consisting of studios and one- and two-bedroom units, all of which will be rent restricted at or below 50 percent of the area median income. Additional low-income housing tax credit equity and Freddie Mac permanent financing were secured from Walker & Dunlop. The total project cost was not disclosed, but a California Tax Credit Allocation Committee report from October 2024 lists the valuation at $56.8 million. Amenities will include laundry facilities, a community room, playground, landscaped courtyard, amphitheater-style seating area, sports court, onsite parking and a resident manager. Social services will be provided by CRCD and other community partners. Completion is slated for May 2027. CRCD and LandSpire Group have forged a partnership to create more than 1,000 permanent supportive and affordable housing units across the greater Los Angeles area over the next decade.

October 7, 2025

Development Loans Multifamily Washington Western

Dwight Mortgage Trust Provides $44M Bridge Loan for Two Seattle-Area Multifamily Projects

by Amy Works October 6, 2025

SEATTLE — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $44 million bridge loan for Seattle-based developer Bode. The financing retires existing construction debt, covers loan transaction costs, funds an interest reserve and supports final construction completion of two assets, Bode Columbia City and Bode Tacoma Dome. Bode Columbia City in Seattle is an 80-unit property featuring one- and two-bedroom floor plans. Bode Tacoma Dome is a 164-unit community in Tacoma, Wash., offering studios and one-, two- and three-bedroom floor plans.

October 6, 2025

Acquisitions Indiana Industrial Loans Midwest

CBRE Arranges $107.3M Sale of Indianapolis Industrial Portfolio

by Kristin Harlow October 6, 2025

INDIANAPOLIS — CBRE has arranged the sale of a 1.3 million-square-foot, seven-property industrial portfolio in Indianapolis for $107.3 million. Judd Welliver, Zach Graham, Ryan Bain, Bentley Smith, Michael Caprile and Joe Horrigan of CBRE represented the seller, Arcapita. Billy Mork, Mike Vannelli and Joel Torborg of CBRE arranged $64.4 million in acquisition financing on behalf of the buyer, Capital Partners. The fixed-rate loan features interest-only payments for the full term. CBRE’s JD Graves and Chris Black will handle marketing and leasing for the portfolio.

October 6, 2025

Florida Loans Southeast Student Housing

TREO Group Receives $132M Financing for Student Housing Community Near University of Miami

by Abby Cox October 6, 2025

MIAMI — Affiliates of TREO Group have received $132 million in financing for VOX I and VOX II, a two-building student housing community located at 7025 and 7175 S.W. 59th Ave. near the University of Miami campus. Ocean Bank provided the financing for the 726-bed property. The community offers 262 units in one- through four-bedroom floorplans with bed-to-bath parity. Amenities include two rooftop terraces, swimming pools, five fitness areas, 20 study lounges and an outdoor summer kitchen. The property also features 15,682 square feet of retail space.

October 6, 2025

Hospitality Loans New York Northeast

Smith Hill, Bain Capital Receive $216M Refinancing of Westin New York Grand Central Hotel

by Taylor Williams October 3, 2025

NEW YORK CITY — A joint venture between Smith Hill Capital, the commercial real estate debt investment management business of the Procaccianti Cos., and Boston-based Bain Capital has received a $216 million loan for the refinancing of the 774-room Westin New York Grand Central Hotel. The hotel features 18,750 square feet of meeting and event space, a fitness center and a full-service restaurant. The joint venture acquired the hotel in 2019 and undertook renovations in 2021. JLL arranged the debt on behalf of ownership. The direct lender was not disclosed. The hotel first opened in 2012.

October 3, 2025

Loans Multifamily Southeast Tennessee

Embrey Secures Construction Financing for 296-Unit Luxury Apartment Community in Franklin, Tennessee

by Abby Cox October 3, 2025

FRANKLIN, TENN. — San Antonio-based Embrey has secured financing for Thatcher at Aureum, a 296-unit luxury apartment complex located within the master-planned development of Aureum in Franklin, a suburb in Nashville’s Cool Springs neighborhood. Garrett Karam and Brad Knolle of Embrey internally originated the loan through Texas Capital. Construction of the development will begin immediately, with first occupancies anticipated for third-quarter 2027. Thatcher at Aureum will span roughly 3.8 acres and will offer studio, one-, two- and three-bedroom floorplans. Residents will have access to a private clubhouse and lounge with micro-offices and conference space, a podcast studio, game room and grab-and-go market. Other amenities will include a resort-style swimming pool with a spa, private cabanas and grilling areas, as well as a rooftop terrace, gaming lawn, fitness center and yoga studio. The community will also feature a pet spa, pet park, bike storage, repair shop and a 24-hour package room with refrigeration. Additionally, the project will restore and preserve a historic stone wall on the site to commemorate the City of Franklin’s heritage.

October 3, 2025

Arizona Hospitality Loans Western

Concord Summit Capital Secures $12.2M Construction Loan for ECHO Suites Hotel in Chandler, Arizona

by Amy Works October 3, 2025

CHANDLER, ARIZ. — Concord Summit Capital has arranged a $12.2 million construction loan for the development of ECHO Suites Extended Stay by Wyndham at Chandler Airport Center. The borrower is Richmond, Va.-based The Sandpiper Group of Cos., which is expanding its brand across the western United States. Located in Chandler, the four-story project will offer 124 guest rooms. ECHO Suites has nearly 270 hotels in its pipeline nationwide. Robert Horton, John Choi and Connor Martz of Concord Summit structured the financing for the borrower, which is a repeat client. Last year, Concord Summit secured financing for the client for an ECHO Suites project in Peoria, Ariz.

October 3, 2025

Newer Posts

Older Posts