Finance

1333-broadway-Brooklyn
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

JLL Arranges $58M Loan to Refinance Newly Completed Property in Brooklyn

by Lynn Peisner

NEW YORK CITY — JLL has arranged a $58 million refinancing loan provided by Barings for 1333 Broadway, a 106-unit mixed-use property in Brooklyn’s Bushwick neighborhood. Ekstein Development Group and Standard Real Estate Investments were the borrowers. The project was completed in April. The 20-story property is comprised of 74 market-rate units, 32 affordable units and 29,000 square feet of commercial space. Rent caps were not disclosed. Peter Rotchford, Rob Hinckley and Robert Tonnessen led JLL’s team.

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The-Vail-West-Caldwell
DevelopmentFinanceNew JerseyNewsNortheast

CBRE Arranges $30.7M in Construction Financing for The Vail in West Caldwell, New Jersey

by Lynn Peisner

WEST CALDWELL, N.J. — CBRE has arranged $30.7 million in construction financing for The Vail, a 92-unit, four-story community at 780 Passaic Ave. in West Caldwell. Twenty percent of the units will be designated as affordable. Rent restrictions were not disclosed. The borrower is Accordia Real Estate, and the lender is Principal Financial. CBRE’s Matthew Pizzolato, Josh Stein, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Lauren Weinstein and Justin Helbling led the financing. The property will feature a fitness center, coworking areas, a dog park, grilling stations and covered parking. A …

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Leena-Ocala-Florida
DevelopmentFinanceFloridaNewsSoutheast

Merrimac Ventures Secures $62.5M to Construct Leena Ocala

by Lynn Peisner

OCALA, FLA. — Merrimac Ventures and Southern Waters Capital have secured $62.5 million in construction financing from ACORE CAPITAL to fund development of Leena Ocala, a 360-unit community in Ocala. Located on a 36-acre site at SW 60th Ave. and SW 52nd St., the project will include 300 garden-style apartments across multiple three-story buildings, along with 60 two-story townhome residences. Amenities include multiple walking trails, neighborhood parks, landscaped open areas, a dog park and pickleball courts. A central clubhouse will feature a fitness center and resort-style pool, along with a …

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Lakeview-at-Westpark-Richmond
FinanceNewsTexas

Marcus & Millichap Arranges $54M Refinancing for Lakeview at Westpark in Metro Houston

by Lynn Peisner

RICHMOND, TEXAS — Marcus & Millichap has arranged a $54 million HUD refinancing for Lakeview at Westpark, a 298-unit property in Richmond, 30 miles southwest of Houston. Brandon Brown of Marcus & Millichap’s Houston office led the transaction, representing Rockstar Capital. The financing was secured through KeyBank at a fixed rate of 5.3 percent with 35 years of amortization. Rockstar, a Houston-based, privately owned multifamily real estate investment and property management company, acquired Lakeview at Westpark in 2022. The asset was developed in 2021.

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Alexan-Evans-Station-Denver
ColoradoFinanceNewsWestern

PCCP Provides Trammell Crow $78M ReFi Loan for Alexan Evans Station in Denver

by Lynn Peisner

DENVER — PCCP has provided a $78 million loan to Trammell Crow Residential for the refinancing of Alexan Evans Station in Denver. The 367-unit property, located at 2121 S. Broadway, was built in 2023 and is LEED Gold-certified. It offers a mix of studio, one-, two- and three-bedroom units and 7,334 square feet of ground-floor retail space leased to F45, SweatHouz and Pacific Dental Services. Amenities include a pool and hot tub with cabanas, a fitness center, coworking spaces and a conference center, EV charging and an on-site convenience market.

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The-Jewel-at-Santa-Rosa
FinanceFloridaNewsSoutheast

Walker & Dunlop Arranges $79M ReFi for Bristol Development’s Jewel at Santa Rosa Beach in Florida

by Lynn Peisner

SANTA ROSA BEACH, FLA. — Walker & Dunlop has arranged a $79 million refinancing loan for The Jewel at Santa Rosa Beach, a 408-unit property in Santa Rosa Beach. The borrower was Bristol Development Group. The Walker & Dunlop Capital Markets Real Estate Finance team led by Jeremy Pino, Livingston Hessam, Carl Passmore and Kyle Miller coordinated the transaction alongside Walker & Dunlop FHA Finance’s Keith Melton and David Strange to arrange the interest-only, non-recourse bridge loan with an institutional debt fund. The Jewel at Santa Rosa Beach includes one-, …

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PromenadeNewnanCrossing-Newnan
FeaturesFinanceInvestment SalesOperations

You Built It. Your Kids Don’t Want to Run It: A Tax Strategy Most Investors Are Missing

by Lynn Peisner

By Ben Roper and Hal Reinauer There’s a conversation happening in estate attorneys’ offices and around family dinner tables across the country, and it usually goes something like this: an owner of a multifamily property, often held for decades, begins to think seriously about what happens next. The asset has been good to them. It generates income. It carries emotional weight. And the plan, loosely held, is to pass it along the same way it arrived: intact, appreciated and relatively uncomplicated. What most owners never fully reckon with, and what is …

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FinanceNewsNortheastWashington, D.C.

Meridian Arranges $50M Refinancing for Lanston Views in D.C.

by Lynn Peisner

WASHINGTON, D.C. — Meridian Capital Group has arranged a $50 million loan through NewBridge Lending for Langston Views, a 671-unit community in Washington, D.C. The borrower is Chicago-based Clear Investment Group, which acquired the property from foreclosure in 2024 and has since completed renovations to units, amenities and building systems. Langston Views was constructed in 1966 and consists of two 12-story residential towers and multiple garden-style buildings.

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Belle-Oaks-Ohio
DevelopmentFinanceMidwestNewsOhio

DealPoint Merrill Secures $55M for First Phase of Mall Redevelopment in Metro Cleveland

by Lynn Peisner

RICHMOND HEIGHTS, OHIO — DealPoint Merrill has secured a $55 million construction loan for Phase I of Belle Oaks Marketplace in Richmond Heights, about 14 miles east of Cleveland. The Walker & Dunlop Capital Markets Real Estate Finance team led by Ryan Parker arranged a floating-rate, interest-only construction loan provided by Genesis Capital. The financing will be used for construction of Phase I of DealPoint Merrill’s redevelopment of the former Richmond Town Square Mall. This first phase includes 181 multifamily units across two buildings. Upon full completion, Belle Oaks Marketplace …

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Rye-SoBo-Denver
ColoradoFinanceNewsWestern

JLL Arranges Refinancing for Price Brothers’ Rye SoBo in Denver

by Lynn Peisner

DENVER — JLL has arranged a floating-rate loan for Price Brothers to refinance Rye SoBo, a 353-unit property in Denver. The amount of the loan was not disclosed. RyeSoBo, located at 290 W. Alameda Ave. in the South Broadway area of Denver, was developed in 2021 and includes studios, one- and two-bedroom units and amenities such as a rooftop lounge with mountain and downtown views, a two-story fitness center, a two-story coworking lounge with conference rooms, a pool with a hot tub, a beer garden with outdoor games, a pet …

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