Monday, June 29, 2026
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Bethany-Home-Livermore-CA
CaliforniaLoansMultifamilySeniors HousingWestern

G Capital Markets Arranges $15.5M Recapitalization for Seniors Housing Project in Livermore, California

by Amy Works

LIVERMORE, CALIF. — G Capital Markets (GCap), a capital advisory firm based in Carmel, has arranged a recapitalization for Bethany Home, a 59-bed assisted living community in Livermore on the eastern edge of the Bay Area.  Built in 2021 by a regional owner-operator, the property leased up in 2022 and has shown consistently strong performance for several years with cash flow margins well over 40 percent and occupancy of 90 percent, according to GCap. The bridge-to-HUD loan was structured with a large equity-out component and sized to maximize the takeout refinancing while allowing the borrower to submit a HUD application in 2024 without the need to wait the typical two years of debt seasoning. GCap arranged the $15.5 million credit facility with a regional bank partner. The loan carries an interest rate SOFR spread in the low 300s and a below-market financing fee. The borrower is an existing client of GCap, and this property will be part of a broader permanent portfolio refinancing that is scheduled to close in 2025.

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1450-1456-S-Manhattan-Ave-Fullerton-CA
AcquisitionsCaliforniaIndustrialWestern

Voit Negotiates Sale of 48,235 SF Warehouse in Fullerton, California

by Amy Works

FULLERTON, CALIF. — Voit Real Estate Services has arranged the purchase of a freestanding industrial warehouse situated on 2.2. acres in Fullerton, a city in northern Orange County. Anaheim-based 1450 Manhattan LLC acquired the asset from Salher LLC for $13.3 million. Located at 1450-1456 S. Manhattan Ave., the property features 48,235 square feet of industrial space. Garrett McClelland and Erik Sikes of Voit Real Estate Services’ Irvine office represented the buyer, while Byron Foss, Wade Tift and Nick Carey of JLL represented the seller in the deal.

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DevelopmentIndustrialMidwestMinnesota

Opus Breaks Ground on $71M Recycling Facility Expansion for Spectro Alloys in Rosemount, Minnesota

by Kristin Harlow

ROSEMOUNT, MINN. — The Opus Group has broken ground on a $71 million expansion to add new aluminum recycling capabilities at the Spectro Alloys campus in Rosemount, a southern suburb of the Twin Cities. Spectro plans to recycle more end-of-life scrap aluminum to improve recycling rates in Minnesota. The project includes a new 90,000-square-foot building along Highway 55. The first phase of the project will result in nearly 120 million pounds per year of additional recycling capacity and create up to 50 new full-time jobs. The facility will include state-of-the-art equipment for sorting, melting, casting, sawing, homogenizing and packaging with automation and pollution control technology. Spectro’s plant will also provide energy use and carbon emission reductions of 95 percent when compared to new aluminum production. Aluminum billet is used as raw material for the extrusion process, and is turned into products such as railings, window and door trim, and structural components for cars, boats, airplanes, trailers and docks. Spectro will also have the ability to recycle used beverage containers into sheet ingot — slabs of aluminum weighing up to 60,000 pounds each. Construction of the new facility is slated for completion in mid-2025. Spectro has operated at its Rosemount campus …

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Affordable HousingDevelopmentMidwestMultifamilyOhio

The Community Builders Opens $46.4M Affordable Housing Community in East Cleveland

by Kristin Harlow

CLEVELAND — The Community Builders has opened Woodhill Station West, a $46.4 million affordable housing community in East Cleveland’s Buckeye-Woodhill neighborhood. The 120-unit development marks Phase I of the Woodhill Homes transformation. The project converted an empty lot into an affordable housing building with 4,520 square feet of community space. The development includes 90 replacement homes for existing Woodhill residents. In 2021, HUD awarded a $35 million Choice Neighborhoods Implementation Grant to the Cuyahoga Metropolitan Housing Authority (CMHA) and the City of Cleveland to support the Buckeye-Woodhill transformation plan. In 2023, HUD awarded CMHA and the city a Choice Neighborhoods Supplemental Funding Grant for $10 million to further support the development of replacement housing. The redevelopment, which is taking place in six phases, will include approximately 638 homes and public amenities such as outdoor gathering spaces, recreational fields and playgrounds. Choice Neighborhoods Implementation Grants assist in the redevelopment of severely distressed HUD-assisted properties into mixed-income communities. The Community Builders is an affordable housing developer with a portfolio of more than 14,000 apartment units nationwide.

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AcquisitionsMidwestMissouriMultifamily

Berkadia Brokers Sale of 334-Unit Multifamily Property in St. Louis

by Kristin Harlow

ST. LOUIS — Berkadia has brokered the sale of Crossing at Northpointe, a 334-unit, garden-style multifamily property in St. Louis. The sales price was undisclosed. Located at 3144 Sunswept Park Drive, the community was built in 1972 and renovated in 2021. Andrea Kendrick, Ken Aston and Bobby Mills of Berkadia represented the seller, Utah-based Sundance Bay. A New Jersey-based buyer purchased the asset, which was 94 percent occupied at the time of sale.

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118-119 Broadway-Long-Branch
DevelopmentMultifamilyNew JerseyNortheast

Kushner Breaks Ground on $130M Multifamily Project in Long Branch, New Jersey

by Taylor Williams

LONG BRANCH, N.J. — New York City-based developer Kushner has broken ground on a $130 million multifamily project in the Northern New Jersey community of Long Branch. Designed by Minno + Wasko Architects & Planners, the property will comprise two four-story buildings that will house 299 units in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking lounge, golf simulator, rooftop terraces, social lounges, pet spa, a children’s playroom and outdoor grilling and dining stations. A SuperFresh grocery market and neighborhood café will anchor the property’s retail component. The first units are expected to be available for occupancy in late 2025. Madison Realty Capital provided an $85 million construction loan for the project, and Unity Capital supplied $15 million in mezzanine financing.

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DevelopmentHealthcareLoansMidwestMinnesota

Ziegler Provides $20.5M in Bond Financing for Wadena Cancer Center Project in Minnesota

by Kristin Harlow

WADENA, MINN. — Ziegler has provided a bond issue totaling $20.5 million for the Wadena Cancer Center in Wadena, a city in central Minnesota. The Wadena Cancer Center is jointly operated by Astera Health CentraCare Health and is located on Astera Health’s main campus. In collaboration with CentraCare Health System, Astera Health has entered into a joint venture to establish the Central Minnesota Cancer Center LLC. This initiative aims to address the critical need for comprehensive oncology services in the region. The proceeds of the bond issue will be used to finance the construction and equipping of the 15,350-square-foot cancer center, which will include six clinic exam rooms and eight infusion bays. The facility will provide a full spectrum of cancer care services, including medical and radiation oncology visits, chemotherapy, infusion, radiation treatments and diagnostic imaging. Ziegler utilized a unique financing structure to fund the project through its relationship with a nonprofit entity, National Healthcare, Research and Education Finance Corp. (NHREFCO). NHREFCO works to support the charitable and educational purposes of hospitals, academic medical centers and medical research organizations by acting as the borrower for bond transaction and lessor to the tenant through a long-term assumable lease.

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Leasing ActivityMidwestMinnesotaRetail

Shear Bliss to Open at Eden Prairie Center in Suburban Twin Cities

by Kristin Harlow

EDEN PRAIRIE, MINN. — Shear Bliss, a family-run hair and beauty salon, will open at Eden Prairie Center in the Twin Cities suburb of Eden Prairie. The salon will fill a former MasterCuts location in suite 2168. Shear Bliss, which maintains an additional location in North Dakota, expects to open its Eden Prairie salon on Friday, April 5. Eden Prairie Center, opened in 1976, features more than 100 shops and restaurants. JLL manages the 1.4 million-square-foot retail property.

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AcquisitionsIndustrialNew YorkNortheast

Terreno Realty Acquires Brooklyn Industrial Building for $12M

by Taylor Williams

NEW YORK CITY — San Francisco-based Terreno Realty Corp. (NYSE: TRE) has acquired a 24,000-square-foot industrial building in the East Williamsburg neighborhood of Brooklyn for $12 million. The site at 181 Lombardy St. spans about three-quarters of an acre, and the facility, which is currently vacant, features one dock-high door, one grade-level loading position and parking for 10 cars. The seller was not disclosed.

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AcquisitionsMultifamilyNew YorkNortheast

GFI Realty Arranges $4.8M Sale of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm GFI Realty has arranged the $4.8 million sale of a 48-unit apartment building in the Crown Heights neighborhood of Brooklyn. The six-story building was constructed in 1930 and consists of 20 one-bedroom units, 22 two-bedroom apartments, five three-bedroom residences and one four-bedroom unit. Matthew Sparks of GFI Realty represented the seller, a limited liability company, in the transaction. Josh Orlander, also with GFI, represented the buyer, a private investor.

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