Finance

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FinanceFloridaNewsNorth CarolinaSouth CarolinaSoutheast

Walker & Dunlop Arranges $223M Refinancing for Madison Capital Portfolio

by Lynn Peisner

BETHESDA, MD. — Walker & Dunlop has arranged approximately $223 million in bridge financing for five communities across the Southeast on behalf of Charlotte, North Carolina-based Madison Capital Group. The bridge loans will refinance existing debt for five properties (1,345 units) in Florida and the Carolinas. Walker & Dunlop arranged the loans with multiple debt fund lenders. A team led by Walker Layne, Austin Sneed and Tyler Evenson closed the five refinancings over the past nine months. The portfolio includes: The Caroline in Indian Land, South Carolina; Madison Shores in …

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Affordable HousingFinanceNew YorkNewsNortheast

Rockrose Obtains $69.5M Refinancing for West Village Asset

by Lynn Peisner

NEW YORK CITY — JLL Capital Markets has arranged a $69.5 million Freddie Mac refinancing loan for 100 Jane, a 148-unit property in Manhattan’s West Village neighborhood. The borrower was Rockrose Development Corp. Located at 100 Jane St. and built in 1996, the property includes 117 market-rate units, 30 affordable units and one superintendent unit. Rent restrictions were not disclosed. Amenities include a landscaped rooftop terrace, fitness center and laundry facilities. The JLL team representing the borrower was led by Geoff Goldstein, Steven Klein and Michael Shmuely.

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FinanceInvestment SalesNewsNorth CarolinaSoutheast

Mesa West Funds $29.7M Acquisition Loan for The Ellery of Cary in North Carolina

by Lynn Peisner

CARY, N.C. — Mesa West Capital has provided a $29.7 million loan for Addison, Texas-based McDowell Properties’ acquisition of The Ellery of Cary, a 194-unit property in Cary. The financing was arranged by Trevor Brotman, Tricia Linden, and Kara Profitt out of Walker & Dunlop’s Irvine, California, office. Built in 1988 on approximately 19 acres, The Ellery of Cary offers a mix of one-  and two-bedroom floor plans averaging 875 square feet. Units feature stainless steel appliances, laminate flooring, walk-in closets, private balconies and in-unit washers and dryers. Amenities include …

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Affordable HousingDevelopmentFinanceFloridaIndustry VoicesSoutheast

Opportunity Zones 2.0 Could Be a Better Fit for Housing — If We Use It Well

by Lynn Peisner

By Alfonso Costa Jr. As the federal Opportunity Zone (OZ) program evolves into a permanent “OZ 2.0” framework, with new OZ census tracts taking effect Jan. 1, 2027, states like Florida are moving quickly to shape where capital flows by launching online portals. For developers, investors, business owners and local officials, understanding how these rules are changing and how to engage in state-level nomination processes will be critical to harnessing tax-advantaged equity while deploying it into projects that deliver long-term community benefit. Opportunity Zones 2.0 Brings More Flexibility and a …

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BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $82.1M Refinancing for Crescent Communities’ Render Legacy Trail in Sarasota County

by Lynn Peisner

NOKOMIS, FLA. — Berkadia has arranged an $82.1 million refinancing loan for Render Legacy Trail, a 450-unit property that borrower Crescent Communities completed in 2024. Berkadia D.C. Metro’s Patrick McGlohn, Brian Gould, Hunter Wood, Natalie Hershey and Patrick Cunningham arranged the financing through lender Benefit Street Partners. Render Legacy Trail is situated on approximately 18 acres at 15560 Render Way. The property offers a mix of one-, two- and three-bedroom floor plans. Amenities include a resort-style saltwater pool with cabanas, outdoor grilling and dining areas, a clubroom with coffee bar, …

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FinanceNew YorkNewsNortheast

Slate Property Group Lands $86.3M Refinancing for Dutch House in Queens, New York

by Lynn Peisner

NEW YORK CITY — Slate Property Group, a New York-based owner, operator and developer, has closed on an $86.3 million refinancing for Dutch House. Slate Property Group and Avenue Realty Capital developed the 186-unit community at 37-05 30th St. in Long Island City in 2022. The eight-story building features 21,000 feet of ground-floor retail and is fully leased. Walker & Dunlop arranged the loan through Ares Capital Management. The financing retires a PCCP facility previously arranged by the same Walker & Dunlop team in 2023. Residential units at Dutch House …

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Affordable HousingDevelopmentFinanceMidwestOhio

Lument Secures $28M HUD Loan for Ohio Affordable Housing Redevelopment

by Lynn Peisner

LORAIN, OHIO — Lument has secured a $28 million U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) loan to assist TFG Housing Resources and Raise Up with the rehabilitation of Western Horizon. Upon completion of the redevelopment, all 353 units of the affordable housing community in Lorain will be offered at rents capped at 60 percent of area median income. Lument’s Joey Hague led the transaction. TFG Housing Resources is a Columbus, Ohio-based real estate developer focused on the new construction and rehabilitation of affordable housing properties. …

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FinanceNewsTexas

Northmarq Arranges Refinancing of Wood River Apartments in Corpus Christi, Texas

by Lynn Peisner

CORPUS CHRISTI, TEXAS — Northmarq has arranged the refinancing of Wood River Apartments, a 199-unit property in Corpus Christi. Cheryl Higley and Ryan Shoars led the team that secured the undisclosed amount of financing through Northmarq’s in-house Edge platform. Built in 1983, Wood River Apartments is comprised of one-, two- and three-bedroom floor units across two 17-story buildings.

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FinanceNews

HGI, Garrett Cos. and Telis Group Obtain $351M Refinancing for Eight-Property Portfolio

by Lynn Peisner

NORFOLK, VA. — Affiliates of Norfolk-based Harbor Group International (HGI), in partnership with The Garrett Cos. and Telis Group, have refinanced senior construction debt across an eight-property portfolio through a $351 million loan originated by ACRE. Walker & Dunlop arranged the financing. The eight properties are part of a broader 11-asset multifamily portfolio recapitalized by HGI, The Garrett Cos. and Telis Group in January 2025. The refinanced portfolio includes five properties across the Denver and Colorado Springs metros and one asset each in the Phoenix, Indianapolis and Minneapolis metropolitan areas. …

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FinanceIndustry VoicesInvestment Sales

Why a Recalibrating Multifamily Market Rewards Patient Investors

by Lynn Peisner

By Craig Johnsen Few sectors have shifted more over the past five years than multifamily housing. From 2020 through 2022, asset prices climbed at a rate that, in retrospect, far outpaced the underlying drivers of long-term value. From 2023 through 2025, those same assets gave back much of that appreciation as capital pulled back, lenders grew more cautious and headlines became less favorable. To a casual observer, the sector now looks like one to wait out. If you are deeply embedded in the economics of the industry, however, it could …

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