Finance

Chateau-on-Wells-Chicago
FinanceIllinoisMidwestNews

JLL Arranges $25.2M Refinancing for 43-Unit Chicago Property

by Lynn Peisner

CHICAGO — JLL has arranged a $25.2 million floating-rate loan through lender D2 Residential for the refinancing of Chateau on Wells, a 43-unit property in downtown Chicago. The borrower was Chicago-based investment and development firm Akara Partners. The property features a 2016-built midrise apartment building with one retail suite located at 707 N. Wells St. in the River North entertainment district. The building is 95 percent occupied. The apartments rent for approximately $4,091 per month. JLL’s team was led by Jesse Wright, Joshua Odessky, Sam Tarter, Miguel Pedersen and Ben …

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Lymestone-Ranch-New-Smyrna-Beach
FinanceFloridaNewsSoutheast

Advenir Azora Secures $24.4M Refinancing for Florida Property

by Lynn Peisner

NEW SMYRNA BEACH, FLA. — Florida-based investment firm Advenir Azora has obtained a loan provided by Balbec Capital for approximately $24.4 million to refinance Lymestone Ranch in New Smyrna Beach. Jesse Wright, Joshua Odessky, Luke Maganas and Duncan Miller of JLL Capital Markets arranged the financing. Lymestone Ranch, located about 50 miles northeast of Orlando, was developed in 2004 on approximately 19 acres. The property features 216 one-, two- and three-bedroom units and amenity highlights that include a fitness center, a pool, clubhouse and a business center.

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The-Quaye-Palm-Beach-Gardens
FinanceFloridaInvestment SalesNewsSoutheast

Dermot Co. Obtains $110M Loan for Palm Beach Property

by Lynn Peisner

PALM BEACH GARDENS, FLA. — The Dermot Co., in partnership with Dutch pension fund provider PGGM and TD Asset Management (TDAM), has acquired The Quaye, a 341-unit community in Palm Beach Gardens. Affinius Capital originated a $110 million loan to support the acquisition. Walker & Dunlop’s South Florida Investment Sales team, led by Still Hunter, arranged the sale, while Walker & Dunlop’s Aaron Appel, Dustin Stolly and Michael Ianno arranged the financing. The community is comprised of one-, two-, three- and four-bedroom apartments and townhomes. It is situated on a …

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310-West-Huron-Chicago
DevelopmentFinanceIllinoisMidwestNews

JLL Arranges $44.1M in Construction Financing for Chicago’s 310 West Huron

by Lynn Peisner

CHICAGO — JLL has arranged $44.1 million in construction financing for the joint venture developers of 310 West Huron, a 149-unit project in Chicago. The financing consisted of a $38.1 million loan provided by CIBC and $6 million in preferred equity from N3 Capital Management. Third Coast Real Estate and N3 Capital Management are the developers behind the nine-story project, which is situated in the River North neighborhood. Units will be offered as studios, one- and two-bedroom floor plans, including 11 two-story units with private patios. Amenities include a rooftop …

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Allure-Suitland
FinanceInvestment SalesMarylandNewsNortheast

Colliers Arranges $232.7M in Financing for Maryland Acquisition

by Lynn Peisner

LARGO AND SUITLAND, MD. — Colliers’ Debt & Structured Finance has arranged $232.7 million in acquisition financing for a three-property, 1,225-unit portfolio located in Prince George’s County, Maryland. The portfolio, which was acquired by 29th Street Capital and Willton Investment Management, consists of Allure Apollo, Aspire Apollo and Ascend Apollo. The transaction involved the reassignment of existing tax increment financing (TIF) agreements associated with the Allure and Aspire properties, which are adjacent communities in Suitland.  Ascend is in Largo, about 10 miles southwest.

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Exchange-at-the-Beach-Panama-City
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $42.5M Refinancing for Panama City Beach Property

by Lynn Peisner

PANAMA CITY BEACH, FLA. — Berkadia has arranged $42.5 million on behalf of JSB Capital for the refinancing of Exchange at the Beach, a 232-unit property in the Upper Grand Lagoon neighborhood of Panama City Beach. The financing package consists of a $29 million Freddie Mac loan and $13.5 million in preferred equity. Mitch Sinberg, Scott Wadler, Brad Williamson and Matt Robbins of Berkadia Miami arranged the financing. Exchange at the Beach was developed in 2022 and is comprised of one- and two-bedroom units and amenities that include a pool …

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Liva-Travelers-Rest
DevelopmentFinanceNewsSouth CarolinaSoutheast

S3 Capital Provides $29.8M Loan for Construction of Liva Travelers Rest

by Lynn Peisner

TRAVELERS REST, S.C. — S3 Capital has provided a $29.8 million loan to Clear Mountain Properties for the development of Liva Travelers Rest, a 152-unit community in Travelers Rest. Cooper Horowitz arranged the financing. Liva Travelers Rest will consist of five three-story buildings and seven two-story buildings featuring 120 apartment units and 32 townhomes in a mix of one-, two- and three-bedroom floor plans. Amenities will include a resort-style pool, a clubhouse and fitness center, fire pit, a dog park and bike storage. Capstone Building Corp. is the general contractor. …

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Campello-Brockton
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

MassHousing Provides $50M for First Phase of Brockton Public Housing Redevelopment

by Lynn Peisner

BROCKTON, MASS. — Massachusetts Housing Finance Agency (MassHousing) has provided $50 million for the first phase of redevelopment at the Campello Apartments campus in Brockton, approximately 24 miles south of Boston. The total project cost is $115.3 million. The distressed public housing community was built in 1972. In the first of three redevelopment phases, a new seven-story, 144-unit building will be constructed. The overall plan calls for the demolition of one single-story and two high-rise buildings, which currently include 398 public housing units. The demolished buildings will be replaced with …

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Fountain-Ridge-Pleasant-Prairie
BerkadiaFinanceInvestment SalesMidwestNewsWisconsin

Santefort Real Estate Group Buys Two Wisconsin Properties for $69 Million

by Lynn Peisner

PLEASANT PRAIRIE, WIS. — Berkadia has arranged the sale of two properties, Cobblestone Creek and Fountain Ridge, in Pleasant Prairie, Wisconsin, a village about 37 miles south of Milwaukee and 56 miles north of Chicago. The buyer was Illinois-based Santefort Real Estate Group. The undisclosed seller was represented by Pete Evans of Berkadia Chicago and Richard Evans of Berkadia Milwaukee. The deal closed on Feb. 11, at which time both properties were fully occupied. Laura Cathlina, Chris Blechschmidt and Emily Stang of Berkadia Chicago arranged approximately $69 million in acquisition financing …

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Park-at-Westover-Hills-San-Antonio
FinanceNewsTexas

Walker & Dunlop Arranges $46.5M Refinancing for San Antonio Development

by Lynn Peisner

SAN ANTONIO — Walker & Dunlop has arranged a $46.5 million refinancing loan for GenCap Partners for the recently completed (2025) Park at Westover Hills, a 375-unit property located at 4103 Rogers Road in San Antonio. Walker & Dunlop’s team led by Stuart Wernick, Drew Garrison, Steve Mentesana and Matt Mentesana arranged the refinancing with a floating-rate, interest-only bridge loan provided by Geoff Smith and Mike Dunsheath of Walker & Dunlop Investment Partners. Park at Westover Hills consists of 14 buildings in San Antonio’s Far West submarket.

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