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DevelopmentFloridaLoansMultifamilySoutheast

Berkadia Originates $110.7M in Financing for Two Multifamily Developments in Florida

by John Nelson

BRADENTON AND MELBOURNE, FLA. — Berkadia has originated two loans totaling $110.7 million for two multifamily developments in Bradenton and Melbourne. Alec Fox of Berkadia’s Tampa office secured the financing on behalf of the sponsor, Charlotte-based Madison Capital Group. Berkadia secured $60 million in construction financing for Madison Bradenton, consisting of a $47 million senior loan provided by Peachtree Group and a $13 million mezzanine loan from Hickory CRE. The second transaction was $50.7 million in aggregate financing for Madison Midtown in Melbourne, consisting of a $33.5 million senior loan provided by First Citizens Bank and $17.2 million in preferred equity from Forum Capital Advisors. Both properties will consist of 240 units and are slated for completion in 2026.

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DevelopmentLoansStudent HousingTexas

Northmarq Arranges Construction Financing for 142-Unit Student Housing Project Near UT Austin

by Taylor Williams

AUSTIN, TEXAS — Northmarq has arranged construction financing for Avalon Pointe, a 142-unit student housing project that will be located near the University of Texas at Austin’s West Campus neighborhood. The 10-story building will offer studio, one- and two-bedroom units. Amenities will include a first-floor study lounge, fitness center, electric vehicle charging stations and a social room. Cheryl Higley, Ryan Shoars, Noah Villicana and Haylee Williamson of Northmarq originated the debt on behalf of the undisclosed borrower. The name of the direct lender and a construction timeline were also not disclosed.

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DevelopmentLoansMidwestMultifamilyWisconsin

Associated Bank Structures $59.8M in Construction Financing for Wisconsin Multifamily Project

by Kristin Harlow

HARTLAND, WIS. — Associated Bank has structured a $59.8 million construction financing package for Westrock Residences, a 267-unit multifamily project in Hartland, about 25 miles west of Milwaukee. Three Leaf Partners and Continental Properties are the developers. Plans call for 27 townhouse-style units and 240 units in two-story stacked flats. There will be a mix of one-, two- and three-bedroom floor plans. Amenities will include a fitness center, golf simulator, pool, playgrounds, walking paths and a dog run. JLA Architects is the project architect. Site work is underway, and the project will be completed in phases. The first units are slated for occupancy in summer 2025. Continental Properties will manage the community. Ryan Krombach of Associated Bank originated the financing. Associated Bank, administrative agent and co-lead arranger, was joined by co-lead arranger Johnson Bank and Greenwoods State Bank to complete the construction loan syndication. The Village of Hartland is supporting the project with tax-increment financing that will reimburse the developers up to $15.9 million over 27 years using taxes the new development generates. The project site is a 45-acre former quarry that has been slated for redevelopment for decades.

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DevelopmentLoansMultifamilyNorth CarolinaSoutheast

JLL Secures $43.6M Construction Financing for McAlpine Vista Multifamily Development in Charlotte

by John Nelson

CHARLOTTE, N.C. — JLL Capital Markets has secured a $43.6 million loan to finance the construction of McAlpine Vista, a new multifamily development to be located on 14.8 acres at 8011 Krenfeld Drive in Charlotte. Matthew Schoenfeldt of JLL arranged the three-year, non-recourse, floating-rate loan through Hartford Investment Management Co. (HIMCO) on behalf of the borrower, Vista Residential Partners. Upon completion, which is scheduled for September 2026, McAlpine Vista will comprise 320 apartments, with one-, two- and three-bedroom layouts. Amenities at the community will include a 7,750-square-foot clubhouse with a fitness center, coworking spaces and a club room, as well as a swimming pool.

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AcquisitionsIowaLoansMidwestMultifamily

Marcus & Millichap Capital Corp. Arranges $13.4M Acquisition Loan for Apartment Complex in Decorah, Iowa

by Kristin Harlow

DECORAH, IOWA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.4 million loan for the acquisition of Briar Grove Apartments in Decorah, a city in northeast Iowa. The newly constructed, 92-unit apartment complex is located at 2342 Sweet Parkway Road. The luxury property features a mix of studio to two-bedroom layouts and is situated adjacent to the new Toppling Goliath Brewery & Taproom. Robert Bhat of MMCC arranged the five-year loan, which features an interest rate of 5.48 percent, three years of interest-only payments and a loan-to-value ratio of 65 percent. The lender and borrower were undisclosed.

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Smoky-Hollow-Raleigh
LoansMixed-UseNorth CarolinaSoutheastTop Stories

Barings Provides $134M Loan for Refinancing of Raleigh Mixed-Use Property

by Taylor Williams

RALEIGH, N.C. — Barings has provided a $134 million loan for the refinancing of Smoky Hollow, a mixed-use property located in Raleigh. Travis Anderson, Colby Mueck and Warren Johnson of JLL arranged the five-year loan on behalf of the owner, a joint venture between locally based Kane Realty Corp., Williams Realty & Building Co. and Lionstone Investments. Smoky Hollow was completed in 2020 and is located in the state capital’s Glenwood South neighborhood. The property comprises The Line, a 283-unit apartment community, as well as a 229,000-square-foot office building known as 421 North Harrington and roughly 40,000 square feet of retail and restaurant space. The Line features studio, one-, two and three-bedroom apartments and amenities such as a pool, clubroom, social lounge, coworking space, fitness center, outdoor grilling and dining stations and a package delivery room. The office building rises nine stories and offers bike storage space and multiple outdoor terraces. Food-and-beverage users at Smoky Hollow include barbeque restaurant Midwood Smokehouse, ice cream and tea concept Milklab and cocktail bar The Crunkleton. The retail component houses other wellness-based users, such as Dose Yoga & Smoothie Bar, JetSet Pilates and FastMed Urgent Care. “Smoky Hollow is well-positioned to benefit from Raleigh’s …

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IndustrialLoansNortheastPennsylvania

G.S. Wilcox Arranges $19.1M Loan for Refinancing of Lehigh Valley Warehouses

by Taylor Williams

HAZLE TOWNSHIP, PA. — New Jersey-based intermediary G.S. Wilcox  Co. has arranged a $19.1 million loan for the refinancing of two warehouses in Hazle Township, located in the Lehigh Valley region. The buildings are located within Humboldt Industrial Park and total 220,500 square feet. Wesley Wilcox and Al Raymond of G.S. Wilcox arranged the seven-year, interest-only loan on behalf of the borrower, a partnership between The Lakhani Family Office and Saxum Real Estate. The direct lender was not disclosed.

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Volta-Voyager-Colorado-Springs-CO
ColoradoLoansMultifamilyWestern

Dwight Capital Provides $38.4M Loan for Volta at Voyager Apartments in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — Dwight Capital has closed a $38.4 million HUD 223(f) loan for the refinancing of Volta at Voyager, a multifamily property in Colorado Springs. Brandon Baksh and Brian Yee of Dwight Capital originated the financing on behalf of the borrower, Boulder-based Mountain View Capital LLC. The refinancing benefited from a Green Mortgage Insurance Premium (MIP) reduction to 25 basis points, enhancing the financial terms. Comprising 10 three-story residential buildings, Volta at Voyager offers 200 one-, two- and three-bedroom apartments, a fitness center, Amazon lockers, a dog spa and park, swimming pool and spa and a resort-style clubhouse.

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2025-2035-NE-Cornelius-Pass-Rd-Hillsboro-OR
LoansOfficeOregonWestern

Gantry Secures $9.5M Acquisition Loan for Office Campus in Hillsboro, Oregon

by Amy Works

HILLSBORO, ORE. — Gantry has secured a $9.5 million loan for the acquisition of a mid-rise office campus in Hillsboro, a suburb of Portland. The borrower, a Los Angeles-based private investor, acquired the asset for $17 million. Situated on 17.7 acres, the campus features two five-story buildings offering a total of 226,000 square feet. The office campus is located at 2025 and 2035 N.E. Cornelius Pass Road. Mark Ritchie and Keegan Bridges of Gantry secured the fixed-rate, interest-only loan through one of the firm’s correspondent insurance company lenders.

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IndianaLoansMidwestOffice

Rubenstein Partners Completes Recapitalization of Parkwood Crossing Office Park in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Rubenstein Partners LP has completed a new equity investment that fully recapitalizes the Parkwood Crossing office campus in Indianapolis. Rubenstein acquired the eight-building, 1.2 million-square-foot office park in 2016. The company has implemented a comprehensive renovation of the Class A property since taking ownership. The new recapitalization enables Rubenstein to continue to modernize the campus with further amenities and the addition of two large greenspaces. Rubenstein has spent $36 million upgrading building lobbies, restrooms, entry facades and building systems as well as adding a number of indoor and outdoor amenities. The improvements are expected to coincide with two new roundabouts and roadway beautification projects through the center of the campus.  

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