HOUSTON — Seattle-based lender Avatar Financial Group has provided a $7.3 million bridge loan for the refinancing of two garden-style multifamily properties in Houston. Donovan Village is a 78-unit complex on the city’s northwest side, and Station Apartments is a 60-unit complex in the Greater Heights area. The loan carries a two-year term and an a 70 percent loan-to-value ratio. The borrower was not disclosed.
NEW YORK CITY — Affiliates of Goldman Sachs & Co. have funded a $145 million loan for the refinancing of the Hôtel Barrière Fouquet in Manhattan. The 97-room hotel, which is located at 456 Greenwich St. in the borough’s Tribeca neighborhood, opened in 2022 and features a Parisian brasserie, a spa, art deco interiors and a private screening room. The loan retires the original construction and mezzanine financing that was provided by South Korea-based Hana Financial Investment. Law firm Rosenberg & Estis PC represented the borrower, an entity doing business as CBCS Washington Street LP, in the transaction, while attorneys from Haynes & Boone LLP represented the lender.
TUXEDO, N.Y. — White Oak Real Estate Capital has provided a $46.2 million construction loan for a build-to-rent residential project in Tuxedo, located along the New York-New Jersey border. The project, which represents Phase I of The Village at Tuxedo Reserve, will add 93 rental units within the 1,200-acre Tuxedo Reserve master-planned development. Phase I is slated for a fall 2026 completion. Max Ralby led the Newmark team that arranged the debt through White Oak. Related Cos. is developing The Village at Tuxedo Reserve, and Lennar Corp. is the master developer of the larger Tuxedo Reserve community, which is planned to ultimately feature about 1,300 residences.
MILPITAS, CALIF. — BWE has arranged $65 million in bond financing for Ivy Park at Milpitas, a seniors housing property in Milpitas. The financing was secured on behalf of a joint venture between Blue Mountain Enterprises and SRM Development. Oakmont Management Group is managing the property. Ryan Stoll and Taylor Mokris of BWE arranged the financing. The loan was structured as a 15-year bond issuance, credit-enhanced by a letter of credit from Poppy Bank, and features five years of interest-only payments along with a favorable covenant structure. The financing provides the sponsor with enhanced flexibility and a long-term runway to complete lease-up and drive operational performance. The four-story, 205,000-square-foot Ivy Park at Milpitas offers 199 independent living, assisted living and memory care units, as well as a subterranean parking garage. Community amenities include all-day dining at The Vine at Ivy restaurant, a fitness center, indoor heated pool, library, salon, movie theater and a landscaped outdoor courtyard. The community also offers 24-hour staffing, concierge services and a social calendar for residents.
WESTMINSTER, COLO. — Mesa West Capital has provided an affiliate of Crow Holdings Capital with $52 million in short-term, floating-rate first mortgage debt to refinance Canyon Reserve at the Ranch, an apartment community in Westminster. The property is located at 2890 W. 116th Place. Built in 1984, the 17-building, garden-style asset was fully repositioned by the sponsor in 2022. Canyon Reserve at the Ranch features 256 one- and two-bedroom units with modern finishes, including stainless steel appliances, in-unit washers/dryers, walk-in closets and private outdoor spaces. Community amenities include a resort-style swimming pool, outdoor grilling area, fitness center and dog park.
SAN MARCOS, TEXAS — Southern California-based Thorofare Capital has provided $36 million in financing for a three-building, 343,728-square-foot industrial project in the Central Texas city of San Marcos. The loan carries a floating interest rate, and the project is expected to be complete in September. The Thorofare team behind the transaction included Scott Sumida, Andrew Kim, Paul Hachigian, Paul Kim and Jason Campbell. The names of the direct lender and borrower were not disclosed.
NASHVILLE, TENN. — Walker & Dunlop has arranged a $105 million loan for the refinancing of 805 Lea, a 356-unit apartment tower in downtown Nashville. Built in 2021, the property features 10,203 square feet of ground-floor retail space across three suites. Amenities include a 24-hour concierge services, 29th floor sky lounge, saltwater swimming pool, fitness center and two outdoor fire pits. Stephen Farnsworth led the Walker & Dunlop team that arranged the three-year loan through Nuveen on behalf of the borrower, Key Real Estate Co. The loan features two optional 12-month extensions.
FLINT, MICH. — Bernard Financial Group (BFG) has arranged a $23 million loan for the refinancing of a 328,770-square-foot industrial facility in Flint. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Flint Commerce Center 1 LLC. A life insurance company provided the loan.
SIMI VALLEY, CALIF. — Gantry has secured a $26 million bridge loan to refinance maturing debt for Civic Center Plaza, a retail center in Simi Valley. Situated on 11.5 acres, the 145,000-square-foot asset is occupied by Regal IMAX Cinema, Starbucks Coffee, Panda Express, Carl’s Jr., two credit unions, Unleashed by Petco and a new grocer, which is slated to open in 2026. Mark Ritchie and Austin Ridge of Gantry represented the borrower, a private real estate operator. Funds managed by affiliates of Fortress Investment Group provided the three-year, nonrecourse loan, which features a variable rate and interest-only term.
VANCOUVER, WASH. — Priority Capital Advisory has arranged a $12 million bridge loan for Hudson West, a 50-unit Class A apartment property in Vancouver. The financing was arranged for Cascadia Development Partners to replace a maturing construction loan, extending financial flexibility through lease-up stabilization. Located at 2411 Broadway St., Hudson West offers 11 studio, 25 one-bedroom and 14 two-bedroom units in a three-story building. Each unit features private balconies, gourmet kitchens, walk-in closets and high-end finishes. Onsite amenities include a coffee bar, multiple common areas and 39 secured parking spaces.