Thursday, July 17, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Loans

110-Horatio-St.-Manhattan
LoansMultifamilyNew YorkNortheast

JLL Arranges $80M Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — JLL has arranged an $80 million loan for the refinancing of a 152-unit apartment building in Manhattan’s West Village neighborhood. The 10-story, freshly renovated building at 110 Horatio St. houses 87 studios, 42 one-bedroom residences,18 two-bedroom units and five penthouses. Amenities include a landscaped roof terrace, resident lounge, onsite laundry facility and a fitness center. Geoff Goldstein, Steven Klein and Chris Pratt of JLL arranged the 10-year, fixed-rate loan through investment manager AXA IM Alts on behalf of the borrower, an affiliate of Rockrose Development. The building was approximately 99 percent occupied at the time of the loan closing.

Continue Reading
FacebookTwitterLinkedinEmail
IMT-Desert-Ridge-Phoenix-AZ
ArizonaLoansMultifamilyWestern

Northmarq Secures $68M Refinancing for Multifamily Community in Phoenix

by Amy Works

PHOENIX — Northmarq has arranged a $68 million refinance of IMT Desert Ridge, an apartment property at 21155 N. 56th St. in Phoenix. Scott Botsford, Joe Giordani and Brendan Golding of Northmarq secured the permanent floating-rate financing for IMT Capital LLC through a correspondent life company relationship. Built in 2014, IMT Desert Ridge offers 370 one- and two-bedroom apartments with in-home washers/dryers, fully equipped kitchens, kitchen islands or breakfast bars, quartz countertops with tile backsplashes, walk-in closets, wood-style flooring, high ceilings, private patios or balconies and detached garages.

Continue Reading
FacebookTwitterLinkedinEmail
Place-at-Arroyo-Verde-Tucson-AZ
AcquisitionsArizonaLoansMultifamilyWestern

IPA Negotiates $37.5M Sale of Apartment Property in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of The Place at Arroyo Verde, a multifamily property in Tucson’s Casas Adobes neighborhood. MC Cos. sold the asset to Olympus Property for $37.5 million, or $240,385 per unit. Completed in 2024, The Place at Arroyo Verde features 156 apartments in a combination of one-story casitas and two-story, walk-up floor plans. The open-concept apartment interiors offer stainless steel appliance packages, sizable interior storage space, single French doors and walk-in showers with custom tile surrounds. Community amenities include a leasing office, clubhouse, swimming pool, an oversized sundeck, a fitness center, grilling stations and covered parking. Steve Gebing, Hamid Panahi, Clint Wadlund and Cliff David of IPA represented the seller and procured the buyer. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged acquisition financing for the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLoansMidwestMultifamily

Lument Provides $90.6M in Loans for Refinancing of Chicago Multifamily Portfolio

by Kristin Harlow

CHICAGO — Lument has provided $90.6 million in Fannie Mae DUS loans for the refinancing of four multifamily communities totaling 654 units in Chicago. The loans replace existing life company debt for the borrower, BJB Properties, a Chicago-based operator. Evan Hom of Lument originated the loans, which feature fixed interest rates, seven-year terms and 35-year amortizations. In addition to providing permanent financing, the loans provide cash-out proceeds for the borrower. According to Lument, 96 percent of the portfolio is housing that is accessible and affordable. The assets are all located in the Lakeview neighborhood and include 424 W. Diversey, 451 Wrightwood, 443 Wrightwood and 517 Oakdale. All of the properties were built in the late 1920s.

Continue Reading
FacebookTwitterLinkedinEmail
Texas-Industrial-Facility
IndustrialLoansTop Stories

Invesco Commercial Provides $354.6M Loan for Refinancing of National Industrial Portfolio

by Taylor Williams

ATLANTA — Invesco Commercial Real Estate Finance Trust Inc., a REIT backed by the real estate arm of Atlanta-based global investment manager Invesco (NYSE: IVZ), has provided a $354.6 million loan for the refinancing of a national portfolio of 24 industrial properties totaling roughly 2.4 million square feet. The borrower was Bridge Logistics Properties, an affiliate of Salt Lake City-based Bridge Investment Group (NYSE: BRDG). Information on tenancy, years of construction and existing lease terms of the portfolio was not disclosed, nor were specific loan terms, outside of the debt being structured with a sub-70 percent loan-to-value ratio.  The portfolio’s locations are scattered across six states, and the geographic breakdown is as follows: “This financing aligns with our strategy of originating high-quality, income-generating loans secured by institutional-quality assets in what we consider to be the most liquid markets around the United State and Europe,” says Yorick Starr, managing director of Invesco Real Estate.” “This loan is complementary to our existing portfolio of moderate leverage loans made to the highest quality institutional sponsors in the industry,” adds Charlie Rose, global head of credit at Invesco Real Estate. — Taylor Williams

Continue Reading
FacebookTwitterLinkedinEmail
The Perrin
FloridaLoansMultifamilySoutheast

Newmark Arranges $111M Construction Loan for Perrin Multifamily Development in Miami

by Abby Cox

MIAMI — Newmark has arranged a $111 million construction loan for The Perrin, a 310-unit multifamily development located at 901 SW 3rd Ave. in Miami’s Brickell district. Danny Matz of Newmark secured the financing on behalf of the borrower, The Empira Group. Goldman Sachs provided the loan. The 26-story project will feature a mix of studios, one-, two- and three-bedroom floorplans, 2,500 square feet of ground-floor retail space and 380 parking spaces. Amenities at the property will include a fitness center with a yoga room, coworking spaces, entertainment lounge, resort-style pool with cabanas, barbecue grills, a rooftop Zen garden and a tea room. The development also offers immediate access to I-95 and the Brickell Metrorail station. The Perrin, which is Empira’s first high-rise development in the United States, is slated for completion in 2028.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLoansMidwestSeniors Housing

Canyon Partners Provides $47M Refinancing for Seniors Housing Community in Chicago

by Abby Cox

CHICAGO — Canyon Partners Real Estate has provided a $47 million senior loan for the refinancing of American House Oak Park, a 174-unit seniors housing community in the Oak Park neighborhood of Chicago. A joint venture between affiliates of AEW Capital Management and REDICO was the borrower. The property comprises 74 independent living, 65 assisted living and 35 memory care units. Amenities at the community include a rooftop lounge, roof terraces, fitness options, a salon, game room, art studio and theater. Newmark facilitated the financing.

Continue Reading
FacebookTwitterLinkedinEmail
7818-Fisher-Road-Baytown
IndustrialLoansTexas

PGIM Provides $78M Loan for Refinancing of Metro Houston Cold Storage Facility

by Taylor Williams

BAYTOWN, TEXAS — PGIM Real Estate has provided a $78 million loan for the refinancing of a 281,849-square-foot cold storage facility located in the eastern Houston suburb of Baytown. The newly constructed facility is situated on a 30.7-acre site within TGS Cedar Port Industrial Park. The borrower is a joint venture between Philadelphia-based BG Capital and cold storage operator FreezPak Logistics. PGIM was also involved in financing construction of the property.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentLoansMultifamilyNew YorkNortheast

Merchants Capital Arranges $231M in Financing for Bronx Affordable Housing Community

by Taylor Williams

NEW YORK CITY — Merchants Capital has arranged $231 million in financing for Eastchester Gardens, an 877-unit affordable housing community in The Bronx. The 10-building development was originally constructed in 1950 and is home to nearly 2,000 people. The bulk of the financing consists of a $221.7 million, 30-year Freddie Mac CME permanent loan, proceeds of which will be used to fund capital improvements and preserve affordability of all units for renters earning 60 percent or less of the are median income. Capital improvements will include upgrades to heating, cooling, plumbing, lighting and electrical systems, as well as new flooring, kitchens and bathrooms and upgrades to common areas and outdoor spaces. In addition, Eastchester Gardens will be listed on the National Register of Historic Places, enabling the use of federal historic tax credits to support the property’s revitalization. The project team includes MDG Design + Construction, Infinite Horizons, Wavecrest Management and the New York City Housing Authority. Construction is underway and expected to be complete in 2028.

Continue Reading
FacebookTwitterLinkedinEmail
LoansNew JerseyNortheastRetail

G.S. Wilcox Places $18.2M Loan for Refinancing of Retail Building in Willow Grove, Pennsylvania

by Taylor Williams

WILLOW GROVE, PA. — New Jersey-based financial intermediary G.S. Wilcox & Co. has placed an $18.2 million loan for the refinancing of a 123,397-square-foot retail building in Willow Grove, a northern suburb of Philadelphia. The property address was not disclosed, but the building is a freestanding grocery store that sits on a 12.4-acre site. Wesley Wilcox and Al Raymond of G.S. Wilcox originated the debt through an undisclosed life insurance company. The borrower was also not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts