Finance

Ballantine-Phase-II-Newark
Affordable HousingDevelopmentFinanceNew JerseyNewsNortheast

Shorewood Underway on $190M Second Phase of Brewery Redevelopment in Newark

by Lynn Peisner

NEWARK, N.J. — Bogopa Enterprises and Shorewood Real Estate Group have secured construction financing and are underway on the development of Ballantine Phase II. The $190 million project is the second phase of Shorewood’s redevelopment of the former P. Ballantine & Sons brewery site, where beer was produced in Newark for more than a century before the brewery closed in 1972. Phase I, an $89.5 million, 280-unit development, was completed in 2025. A 57,500-square-foot Food Bazaar will anchor the ground floor of the seven-story, 501-unit second phase. Shorewood Real Estate …

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Ocoee-Townhomes-Florida
BerkadiaBuild-to-RentFinanceFloridaNewsSoutheast

Berkadia Arranges $65.5M Bridge Loan for Ocoee Townhomes in Metro Orlando

by Lynn Peisner

OCOEE, FLA. — Orlando, Florida-based Kimaya, the commercial real estate development subsidiary and affiliate of Park Square Enterprises, has obtained a $65.5 million bridge loan for Ocoee Village Townhomes, a 232-unit build-to-rent townhome community that opened in 2024 in Ocoee, 16 miles west of Orlando. The property is located within the Ocoee Village mixed-use development. Wesley Moczul of Berkadia Orlando led the transaction, with support from Mitch Sinberg, Brad Williamson, Scott Wadler, Matt Robbins and Jacob Kelly of Berkadia Miami. The team arranged the three-year, floating rate loan through Kayne …

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Marina-Shores-Long-Beach
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Truist Provides $152M for Long Beach Office Redevelopment

by Lynn Peisner

LONG BEACH, CALIF. — Truist has provided a $152 million construction loan to Carmel Partners for Marina Shores, a 390-unit mixed-income development underway at 6615 E. Pacific Coast Highway in Long Beach. The San Francisco-based investment and development firm is leading the six-story project, with completion slated for May 2029. The development will replace two older office buildings and surface parking with apartments and 5,351 square feet of ground-floor retail space. A third existing office building on the property will remain. Plans also call for 576 parking spaces, 196 bicycle …

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Paramus-Chapter-NJ
Affordable HousingDevelopmentFinanceNewsNortheast

PCCP Provides $163.9M Construction Loan for The Paramus Chapter in New Jersey

by Lynn Peisner

PARAMUS, N.J. — A joint venture between Russo Development and Kushner Real Estate has secured a $163.9 million senior construction loan from PCCP for The Paramus Chapter. Construction of the two-building, 426-unit project began in July. Cushman & Wakefield arranged the loan. Building A will include 166 apartments, comprising 148 market-rate and 18 affordable units, and 5,300 square feet of ground-floor retail. An outdoor pool, a 2,200-square-foot fitness center, game room, theater, karaoke lounge, sports simulator, rentable party room, dog run and 3,400 square feet of coworking space round out …

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Ranch- Los-Feliz-Los-Angeles
CaliforniaFinanceNewsWestern

Northmarq Arranges $95.8M in Refinancing Loans for Los Angeles Portfolio

by Lynn Peisner

LOS ANGELES — Locally based E&S Ring Management Corp. has obtained $95.8 million in loans to refinance a six-property, 1,461-unit portfolio. E&S owns and operates the communities, which are located throughout metro Los Angeles. Northmarq’s Nathan Prouty, Andrew Slaton and John Holt arranged the financing, structured as six separate loans, in fixed and floating-rate structures, through lender Voya Investment Management. The financing replaces existing debt across the portfolio, including four loans originally placed with Voya in 2007. The properties include Casa Granada in Brentwood (168 units); Meadows South in Culver …

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Independence-Place-Hinesville
FinanceGeorgiaNewsSoutheast

Newmark Launches Bridge Program with $35M Loan for Georgia Property

by Lynn Peisner

HINESVILLE, GA. — Ponte Vedra Beach, Florida-based MFP Capital has secured a $35 million bridge loan from Newmark for Independence Place, a 264-unit community in Hinesville. The financing, which will provide interim capital before a transition to permanent agency debt, marks the first transaction under Newmark’s new Multifamily Bridge Program. Henry Stimler, Bill Weber and Ricky Warner originated the loan. The program provides short-term financing solutions for qualifying multifamily borrowers seeking to transition into permanent financing through Fannie Mae, Freddie Mac or FHA lending programs. Originated and serviced directly by …

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Arc-at-the-Grid-Stafford
FinanceNewsTexas

Lone Star Refinances Two Metro Houston Assets with $110M Loan

by Lynn Peisner

STAFFORD, TEXAS — Affiliates of Lone Star Funds, a London-based global investment firm, have secured a $110 million refinancing loan for two properties in Stafford. The neighboring communities, 1879 at the Grid and Arc at the Grid, were built in 2019 and 2020 respectively and are located within a 192-acre mixed-use redevelopment of the former Texas Instruments campus about 17 miles southwest of Houston called The Grid. Walker & Dunlop’s team led by Dustin Stolly, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno and Edward Leboyer …

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The-Aurelian-Coral-Gables
DevelopmentFinanceFloridaNewsSoutheast

Pearlmark Provides $81M Construction Loan for The Aurelian in Coral Gables, Florida

by Lynn Peisner

CORAL GABLES, FLA. — Empira Group has obtained an $81 million construction loan to develop The Aurelian, a 160-unit luxury project underway at 114 Calabria Ave. in Coral Gables. Pearlmark was the lender, and CBRE’s Charles Crapse and Denny St. Germain arranged the financing. Behar Font is the architect, and Ortega Construction is the general contractor. The one- and two-bedroom apartments will be complemented by a resort-style pool, fitness center with dedicated yoga studio, coworking areas, a lounge, electric vehicle charging station and a pet grooming suite. Completion is slated …

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The-Standard-at-CityLine-Richardson
FinanceNewsTexas

Northmarq Arranges Refinancing of The Standard at CityLine in Metro Dallas

by Lynn Peisner

RICHARDSON, TEXAS — Northmarq’s Kevin Leamy has arranged a refinancing loan for The Standard at CityLine, a 403-unit mid-rise at 1125 E. Renner Road in Richardson. Price Realty Corp. was the borrower, and New York Life was the lender. The loan amount was not disclosed. Completed in 2015, The Standard at CityLine features one- and two-bedrooms with a pool with cabana and large-screen TVs, courtyard with fireplaces, grills and valet trash pickup.

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2201-3rd-Ave-NYC
DevelopmentFinanceNew YorkNewsNortheast

Bravo Property Trust Provides $80M Construction Loan for Developer of East Harlem Tower

by Lynn Peisner

NEW YORK CITY — Bravo Property Trust has provided an $80 million bridge construction loan to Glowstone Group for the development of a 22-story mixed-use building with 194 apartments in East Harlem. Located at 2201 3rd Ave., the project will include 12 studios, 103 one-bedroom and 79 two-bedroom units on floors two through 22. The ground floor will feature two retail spaces totaling approximately 4,510 square feet plus a separate community facility space. Amenities include a gym, coworking space, children’s playroom, pet spa, library, lounge, bike storage, package room, upper-level …

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