Finance

Harmony-at-Clear-Creek-Shawnee
Build-to-RentDevelopmentFinanceKansasMidwestNews

MCP, Bluerock Break Ground on Kansas City BTR Development

by Lynn Peisner

SHAWNEE, KAN. — Material Capital Partners (MCP) has secured $77.8 million in financing and begun construction on Harmony at Clear Creek, a 188-unit build-to-rent (BTR) community in Shawnee, 12 miles southwest of Kansas City, Kansas. Bluerock is MCP’s financial partner on the project. Bank OZK provided the construction loan, and Winchester Commercial Group is the general contractor. In addition to the loan, MCP is using equity from its BTR Development Fund I, which also is a funding source for two other BTR projects in the pipeline: Indigo Cove, an 83-unit …

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615-River-Road-Edgewater
DevelopmentFinanceNew JerseyNewsNortheast

Maxal Group Secures First-Phase Financing for $1 Billion Riverfront Development in New Jersey

by Lynn Peisner

EDGEWATER, N.J. — S3 Capital has originated a $255 million construction loan for The Maxal Group’s 615 River Road, a multifamily project that will comprise the first phase of construction of a $1 billion redevelopment along the Hudson River in Edgewater. The 25-story community will include 381 units, ground-floor retail space and parking for approximately 500 vehicles. Amenities include a fitness center, indoor pool and hot tub, a sauna, golf simulator, sports court, workspaces and a stadium-style screening room. FXCollaborative is the architect, and CentraRuddy is the interior designer. Galaxy …

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Symphony-Suwanee
FinanceGeorgiaNewsSoutheastTexas

JV Lands $125.5 Million ReFi for Georgia-Texas Portfolio

by Lynn Peisner

AUSTIN, TEXAS, AND ATLANTA — JLL has arranged a $125.5 million refinancing loan for a three-property portfolio consisting of assets in Austin and around the Atlanta metro area. Known as the MAG portfolio, the properties are owned by Myers Apartment Group and Torchlight Investors. The portfolio includes Citadel at Tech Ridge in Austin, Highlands at Sweetwater Creek in Duluth, Georgia, and Symphony at Suwanee Creek in Suwanee, Georgia. Built between 2019 and 2021, the properties are currently 91.7 percent occupied. The JLL Capital Markets team was led by Gerard Sansosti, …

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Butler-Brad
Affordable HousingFinanceIndustry Voices

OBBBA’s Impacts on the LIHTC Program

by Lynn Peisner

For years, our country has been faced with a housing affordability crisis that has seemed to worsen each year. In fact, as of the end of last year, nearly 50 percent of all renters are considered cost-burdened by their monthly rent payments. While the low-income tax credit (LIHTC) program has historically been very successful in creating affordable housing across the country, there are certain constraints that limit the total number of units that can be created each year. However, recent changes arising from the One Big Beautiful Bill Act (OBBBA) …

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bode-columbia-city-Seattle
DevelopmentFinanceNewsWashingtonWestern

Dwight Mortgage Trust Provides $44 Million Bridge Loan to Seattle Developer

by Lynn Peisner

SEATTLE — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $44 million bridge loan for Seattle-based developer Bode. The financing retires existing construction debt, covers loan transaction costs, funds an interest reserve and supports final construction completion of two assets, Bode Columbia City and Bode Tacoma Dome. Bode Columbia City in Seattle is an 80-unit property featuring one- and two-bedroom floor plans. Bode Tacoma Dome is a 164-unit community in Tacoma, Washington, offering studios and one-, two- and three-bedroom floor plans.

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Apex-SouthPark-Charlotte
FeaturesFinanceFrom the Magazines

What Will Move the Needle on Lending Volume?

by Lynn Peisner

By Joe Gose Compare the dynamics of the multifamily debt environment of four years ago to today, and at first glance not much appears to have changed. A wave of capital ready for deployment? Check then and check now. The same can be said for the type of lenders active in the space: Life insurance companies, Fannie Mae and Freddie Mac, private credit sources, and banks were all hungry for deals back then and have a similar appetite today. Of course, the economics have shifted dramatically. A spike in interest …

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Roseland-Dallas
Affordable HousingDevelopmentFinanceNewsTexas

Dallas Housing Authority Secures $69 Million Bond Reservation to Renovate Two Affordable Communities

by Lynn Peisner

DALLAS — The Housing Authority of the City of Dallas (DHA) has secured a $69 million bond reservation for the renovation of Roseland Townhomes and Roseland Estates, two affordable housing communities in Central Dallas. The bond reservation is not the entire project cost, rather it is an early piece of the capital stack, enabling DHA to receive 4 percent Low-Income Housing Tax Credits (LIHTC). The redevelopment will include new kitchens, bathrooms, plumbing, flooring, appliances and fixtures in the properties’ 274 units. DHA also will upgrade the recreation center, building infrastructure, …

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TLC-Buford
FinanceGeorgiaInvestment SalesNewsSoutheast

Walker & Dunlop Arranges $352 Million in Sales, Acquisition Financing for Two Metro Atlanta Assets

by Lynn Peisner

ATLANTA — Walker & Dunlop has arranged $352 million for the total acquisition financing and sale of Town Laurel Crossing and Manor Barrett, two communities in the Atlanta metro area that were developed in 2024 by Related Group. The 360-unit Town Laurel Crossing, which was rebranded as Timberline View following the acquisition, is located in Buford, 38 miles northeast of Atlanta. Manor Barrett, now known as The Row at Barrett, is a 347-unit community in Kennesaw, 29 miles northwest of Atlanta. Walker & Dunlop’s team that arranged the sales of …

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Compton
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

KeyBank Provides $25.9 Million Loan for Compton Affordable Housing Development

by Lynn Peisner

COMPTON, CALIF. — KeyBank Community Development Lending and Investment has provided a $25.9 million loan to finance construction of an affordable housing development at 1434 W. Compton Blvd. in the metro Los Angeles city of Compton. The Coalition for Responsible Community Development (CRCD) has partnered with LandSpire Group to develop the 75-unit community. The project will be a three-story development consisting of studios and one- and two-bedroom units, all of which will be rent restricted at or below 50 percent of the area median income. Additional LIHTC equity and Freddie …

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White-Houses-Harlem
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

New York City Housing Authority Locks in $272.6 Million in Redevelopment Funds for Harlem Properties

by Lynn Peisner

NEW YORK CITY — The New York City Housing Authority (NYCHA) has closed on the financing for a $272.6 million renovation of Metro North Plaza and Gaylord White Houses, two public housing communities in East Harlem. The properties were selected to be part of the Permanent Affordability Commitment Together (PACT) program, created by the City as part of a larger plan to modernize public housing. NYCHA needs more than $78 billion to fully restore and renovate all its buildings, but, according to the City’s website, the federal government has only …

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