Finance

Book-Cliffs-Lodge-SLC
Affordable HousingDevelopmentFinanceNewsUtahWestern

Salt Lake Housing Authority Breaks Ground on Book Cliffs Lodge

by Lynn Peisner

SALT LAKE CITY — The Housing Authority of Salt Lake has obtained a HUD loan for approximately $10.2 million for the development of Book Cliffs Lodge, a 55-unit affordable housing community that has been in the planning phases for several years. Construction has begun. A completion date has not been disclosed. JLL Capital Market’s Anson Snyder and Chris Gandy arranged the financing. Book Cliffs Lodge will be a four-story building with one-bedroom units in various sizes that will serve tenants earning between 30 and 80 percent of area median income. …

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District-Norfolk
Affordable HousingBerkadiaFeaturesFinance

Can Loan Originations Sustain Momentum in 2026?

by Lynn Peisner

By Joe Gose Lenders and mortgage bankers entered 2025 unsure how busy they would be. From President Trump’s seesawing tariff messages that ramped up market volatility to weak fundamentals in oversupplied Sun Belt markets, their misgivings were well-founded. A sluggish start to the year cast a shadow over whether the government sponsored agencies (GSEs) of Fannie Mae and Freddie Mac would hit their multifamily loan purchase caps of $73 billion each. But financings eventually gained momentum among the GSEs as well as life insurance companies, commercial mortgage-backed securities (CMBS) lenders …

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Villas-Litchfield-Phoenix
ArizonaBuild-to-RentFinanceNewsWestern

JLL Arranges $64.3M Refinancing for JV Owners of Two Phoenix BTR Projects

by Lynn Peisner

PHOENIX — JLL Capital Markets has arranged two refinancing loans totaling approximately $64.3 million on behalf of Chicago-based Blue Vista Capital Management and Palm Desert, California-based Family Development. The partners own Villas Litchfield (153 units) and Villas Goodyear (151 units), two newly constructed build-to-rent communities in Phoenix’s West Valley. ORIX Corp. was the lender. The loans — $33.1 million for the Litchfield property and $31.3 million for the Goodyear community — will serve as construction takeout financing for the two assets, which both opened in 2025. Greystar is the property manager at …

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DevelopmentFinanceInvestment SalesNew YorkNewsNortheast

Tavros Acquires Undeveloped Full-Block Manhattan Site for 600-Unit Project

by Lynn Peisner

NEW YORK CITY — Tavros, a locally based private investor and developer, has acquired 250 Water Street, a 1-acre site in Manhattan’s Seaport neighborhood for $143 million. Tavros is planning to build a ground-up, 600-unit multifamily project on the land. Twenty-five percent of the units will be offered at to-be-announced affordable monthly rents. The community will be anchored by four floors of retail. Fogarty Finger is the architect. A construction timeline was not disclosed. JLL represented the undisclosed seller in the deal and advised Tavros on a pre-development loan provided …

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162-E-36th-New-York
DevelopmentFinanceNew YorkNewsNortheast

Developers of High-Rise in Manhattan’s Murray Hill Secure $115M Refinancing

by Lynn Peisner

NEW YORK CITY — Affinius Capital has provided a $115 million refinancing loan to Ranco Capital and the Gilardian Family, the developers of a 22-story multifamily project in Manhattan’s Murray Hill neighborhood. The borrower will use the financing to complete construction and stabilize occupancy. Henry Bodek of Galaxy Capital arranged the loan. The building is located at 162 East 36th St. and is comprised of 160 studio, one- and two-bedroom units and 3,700 square feet of ground-floor retail space. Amenities feature a rooftop lounge, a fitness center and sauna, coworking …

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Fannie-Mae
Affordable HousingFinanceNewsNortheastWashington, D.C.

Fannie Mae Multifamily Loan Volume Rose 34 Percent in 2025

by Lynn Peisner

WASHINGTON, D.C. — Fannie Mae closed 2025 with a 34 percent year-over-year increase in multifamily loan volume. The agency provided approximately $74 billion in financing last year (compared with $55 billion in 2024), the highest figure since 2020. More than $8.3 billion funded affordable housing transactions, a 31 percent increase from 2024. Forty percent of all deals in 2025 were executed under Fannie Mae’s delegated underwriting model. The top-five DUS lenders last year were Walker & Dunlop ($8.95 billion); Wells Fargo ($7.75 billion); CBRE ($7.47 billion); Berkadia ($7.04 billion); and …

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40X-NYC
DevelopmentFinanceNew YorkNewsNortheast

GFP Receives $192M Loan for Lower Manhattan Conversion Project

by Lynn Peisner

NEW YORK CITY — GFP Real Estate has obtained a $191.5 million construction loan for the office-to-residential conversion of 40 Exchange Place, a historic 300,000-square-foot, 20-story building in Lower Manhattan’s Financial District. 40 Exchange Place was completed in 1893 and served as the headquarters for the New York Stock Exchange from 1856 to 1865. Derby Lane was the lender, and Newmark’s Jordan Roeschlaub, Chris Kramer and Tim Polglase arranged the financing. Upon completion, the building will include 382 multifamily units in a mix of affordable and market-rate rents as well …

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Meridian-at-Bedford-New-Hampshire
FinanceInvestment SalesNew HampshireNewsNortheast

Northmarq Arranges $24M Sale of  The Meridian at Bedford in New Hampshire

by Lynn Peisner

BEDFORD, N.H. — Northmarq has arranged the financing and sale of The Meridian at Bedford, an 85-unit community at 66 Hawthorne Ave. in Bedford. The seller was a private, New Hampshire-based investor, and the buyer was Arrowpoint Properties LLC. The asset traded for approximately $24 million. Northmarq’s debt and equity team arranged a $17.7 million Fannie Mae loan for Arrowpoint. The community, which was renovated in 2024, features a fitness center, laundry facilities, storage and a recreation room. Units are offered as studio, one- or two-bedroom floor plans.

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Link-at-Boca-Florida
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

JV Secures $100M Construction Loan, Breaks Ground on South Florida Transit-Oriented Project

by Lynn Peisner

BOCA RATON, FLA. — A joint venture between South Florida-based developer 13th Floor Investments and Boston-based private equity firm Rockpoint has obtained a $100 million construction loan from Santander Bank for Link at Boca, a 340-unit property with 24,000 square feet of retail space in Boca Raton. The project was announced in 2025. Construction is expected to begin later this month. The developers estimate the project will be complete within two years. The project, located at 680 Yamato Road, is adjacent to the Boca Raton Tri-Rail station, which is a …

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Lakeside-Villas-Sunrise
FinanceFloridaInvestment SalesNewsSoutheast

Lakeside Villas in Miami Metro Sells for $23M

by Lynn Peisner

SUNRISE, FLA. — David Schwadrom has sold Lakeside Villas, a 116-unit, build-to-rent property in Sunrise, 36 miles north or Miami, for $23 million. The buyer is a joint venture consisting of MAP Communities, Highline Real Estate and 340 Properties. JLL arranged a $15.5 million acquisition loan on behalf of the buyer, while Marcus & Millichap arranged the sale on behalf of Schwadrom. The asset, built in 1984, had not traded during the past 30 years, approximately. The property sits on 14 acres and features single-family, two-bedroom, two-bathroom villas with private …

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