Finance

Freddie Mac
Affordable HousingDevelopmentFeaturesFinanceSeniors Housing

Fannie, Freddie Enter Bullish Phase

by Lynn Peisner

By John Nelson Fannie Mae and Freddie Mac are scaling up their multifamily loan production this year while their partner servicers and underwriters are aggressively pursuing new business. The Federal Housing Finance Agency (FHFA), which has been the conservator of the two government-sponsored enterprises (GSEs) since 2008, blew open the annual lending caps for the two agencies this year. The new caps are set at $88 billion apiece, which is a more than 20 percent increase from the 2025 cap and the highest dollar amount allotted by the FHFA since …

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Centreport-Lake-Fort-Worth
FinanceInvestment SalesNewsTexas

Newmark Arranges Sale of Centreport Lake in Fort Worth

by Lynn Peisner

FORT WORTH, TEXAS — Newmark has arranged the sale, acquisition financing and equity capitalization of Centreport Lake, a 452-unit community in Fort Worth’s CentrePort neighborhood. Richard Furr, Brian Murphy and Brian O’Boyle Jr. represented the seller, Marlin Spring US Realty, in the transaction. Henry Stimler and Ricky Warner arranged acquisition financing and equity capitalization on behalf of the buyer, whose identity was not disclosed. Located at 14301 Center Station Drive, Centreport Lake was constructed in 2008 on a 24-acre site. At the time of sale, the community was 91 percent occupied.

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Kalaco-Denver
ColoradoFinanceNewsWestern

JLL Arranges $67M Refinancing for Kalaco in Denver

by Lynn Peisner

DENVER — Opus Development and Ares Real Estate have secured a $67 million refinancing loan for Kalaco, a 280-unit mid-rise community in Denver. Kalaco was completed in 2024. The construction take-out loan was arranged by JLL’s Kristian Lichtenfels, Eric Tupler and Ellie Savage. The six-story building is comprised of studio, one-, two- and three-bedroom units and amenities such as a 233-space parking garage, resort-style deck with a pool and hot tub, fire pits and grilling stations, courtyard with lawn games, pet spa, outdoor dog run, a two-level fitness center with …

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The-Seven-at-West-Boca-Raton
FinanceFloridaNewsSoutheast

Grand Peaks Secures Refinancing for The Seven at West Boca

by Lynn Peisner

BOCA RATON, FLA. — Newmark has arranged a refinancing loan on behalf of Grand Peaks for The Seven at West Boca. Denver-based Grand Peaks acquired the 448-unit community in 2024. PGIM was the lender, with Danny Matz, Roberto Salcedo, Matthew Williams and Robert Wright heading up Newmark’s team. The Seven at West Boca is situated on a 37-acre site and was constructed in 1988. The property includes six two- and three-story residential buildings, a clubhouse and a maintenance building. Amenities include two pools, a fitness center, barbecue areas, tennis courts …

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Affordable HousingDevelopmentFinanceNewsNortheast

PNC Bank Closes $251.4M Fund to Support 16 Affordable Housing Projects

by Lynn Peisner

PITTSBURGH — PNC Bank has closed the Low-Income Housing Tax Credit (LIHTC) Fund 104, a $251.4 million fund focused on the development and preservation of affordable rental housing across the United States. The fund includes investments from nine financial services and insurance companies, as well as PNC. Fund 104 is expected to support 16 multifamily properties nationwide, providing over 1,700 affordable units for families and seniors. The portfolio includes a mix of new construction and rehabilitation developments in Arizona, California, Kentucky, Minnesota, New Mexico, Nevada, North Carolina, Tennessee, Texas, Virginia and …

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Dan-Sacks-CFG
Company NewsFinanceNewsPeople News

CFG Bank Launches CFG Mortgage Partners, Appoints Dan Sacks to Lead New Initiative

by Lynn Peisner

BALTIMORE — CFG Bank, servicing the nationwide healthcare and multifamily financing industries as well as the Mid-Atlantic commercial banking market, has launched CFG Mortgage Partners, a group dedicated to customized multifamily debt products. CFG Mortgage Partners will focus on providing capital solutions to meet the needs of multifamily owners, developers and investors across the country. The new business will expand on CFG’s real estate and corporate banking options, including agency, HUD and Commercial Mortgage-Backed Securities (CMBS) lending services. CFG has appointed Dan Sacks managing partner of CFG Mortgage Partners. Based …

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1740-Broadway-NYC
DevelopmentFinanceNew YorkNewsNortheast

Madison Realty Capital Originates $480M Loan for Midtown Manhattan Office-to-Residential Project

by Lynn Peisner

NEW YORK CITY — Madison Realty Capital has originated a $480 million loan for the office-to-residential conversion of 1740 Broadway in Midtown Manhattan. Yellowstone Real Estate Investments was the borrower, while Ackman-Ziff’s Jason Krane, Russ Schildkraut and Simon Ziff arranged the financing. The 523,051-square-foot, 27-story office building will be converted to a residential community consisting of 238 multifamily units and 182 condos. Amenities will include a resort-style lap pool, hot tub, a speakeasy bar in the building’s original bank vault and lounge and deck spaces. The property also includes 18,055 …

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Joyfield-at-Lakeview-Antioch
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Standard Communities Secures $53.1M for LIHTC Development Near San Francisco

by Lynn Peisner

ANTIOCH, CALIF. — Walker & Dunlop has arranged a $53.1 million loan for the construction of Joyfield at Lakeview Center, a Low-Income Housing Tax Credit (LIHTC) affordable housing community in Antioch, approximately 45 miles west of San Francisco. Standard Communities is the developer and borrower. Joyfield Lakeview Center consists of 233 units across seven three- and four-story buildings that will be reserved for tenants earning up to 30 or 70 percent of area median income. Amenities include a clubhouse, fitness center, business center, playground, courtyard and dog park. Completion is …

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Indian-Lake-Village-Lake-Orion
BerkadiaFinanceMichiganMidwestNews

Berkadia Arranges $35.2M ReFi for Indian Lake Village Apartments North of Detroit

by Lynn Peisner

LAKE ORION, MICH. — Berkadia has arranged a $35.2 million refinancing loan through Freddie Mac for Indian Lake Village Apartments, a 394-unit community in Lake Orion, a village approximately 38 miles north of Detroit. Fenton Management Co. out of Farmington Hills, Michigan, is the owner/borrower. Wesley Moczul of Berkadia Orlando led the transaction, with support from Mitch Sinberg, Scott Wadler, Matt Robbins and Brad Williamson of Berkadia Boca Raton. Located at 3001 Lake Village Blvd., Indian Lake Village Apartments is situated on approximately 58 acres and was constructed between 1995 …

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Two-Clinton-Park-New-Rochelle
BerkadiaFinanceNew YorkNewsNortheast

Berkadia Arranges $126.4M ReFi for Two Clinton Park in New Rochelle, New York

by Lynn Peisner

NEW ROCHELLE, N.Y. — Berkadia has arranged a $126.4 million refinancing loan for Two Clinton Park, a 28-story, 390-unit luxury tower in New Rochelle that was completed in 2024. The Westchester County community is 93 percent occupied. RXR and Bridge Investment Group were the borrowers for the Fannie Mae near-stabilization loan. Located at 50 Clinton Place, Two Clinton Park features studios and one- and two-bedroom units ranging from 461 to 1,197 square feet as well as penthouse residences. Amenities include coworking lounges, a fitness center, hot tub and sauna, screening …

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