Finance

New-Californian-WEB
CaliforniaFinanceNewsWestern

Hudson McDonald Secures $60M Refinancing for Two Berkeley Assets

by Lynn Peisner

BERKELEY, CALIF. — Hudson McDonald, a locally based builder, developer and investor specializing in apartments and student housing, has obtained $60 million to refinance two Berkeley communities, New Californian and The Metropolitan. CBRE arranged the 10-year, fixed-rate agency loan. Mike Walker, Jesse Weber, Brad Zampa and Andrew Behrens led the transaction. New Californian is a 148-unit mixed-use building that features 15,778 square feet of retail anchored by Trader Joe’s and Café Etoile. The property, located at 1988 Martin Luther King Jr. Way, was developed in 2010. Twenty-two of the apartments are …

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Lindley-HOC
Affordable HousingDevelopmentFeaturesFinanceMarylandNortheast

How a Maryland Housing Authority is Using Transparency to Expand Affordable Housing and Resident Services

by Lynn Peisner

By Chelsea Andrews Across the country, demand for affordable housing continues to rise, placing increased pressure on housing authorities to provide shelter and resources for our most vulnerable neighbors. Taxpayers want transparency when it comes to how their dollars are being used in the community. Private partners seek evidence of momentum, clear direction and follow-through. Government stakeholders require clarity and accountability when allocating local, county and federal funds leveraged for housing. Across all audiences, there is a shared need for a clear understanding of what’s working and where gaps remain. …

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Ellevate-North-Charleston
Affordable HousingFinanceNewsSouth CarolinaSoutheast

Eller Capital Secures $58M Refinancing for Two North Charleston Properties

by Lynn Peisner

NORTH CHARLESTON, S.C. — Eller Capital Partners has obtained a $58 million loan to refinance two properties, about half a mile apart from each other, in North Charleston. Walker & Dunlop’s Walker Layne, Matt Wallach, Stephen West, Austin Sneed and Tyler Roberts arranged the floating-rate interest-only bridge senior debt loan with capital provided by Bridge Investment Group. Ellevate St. Ives is comprised of 248 units. Ellevate North Charleston offers 192 units. Both properties participate in South Carolina’s affordable housing tax abatement program, with 75 percent of units restricted at 80 percent …

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Emi-on-50-Orlando
DevelopmentFinanceFloridaNewsSoutheast

Terian Development Closes on Financing, Breaks Ground on Emi on 50 in Orlando

by Lynn Peisner

ORLANDO, FLA. — Terian Development, the development arm of Terian Group, has broken ground on Emi on 50 in Orlando after securing a construction loan for an undisclosed sum through lender PCCP. JLL arranged the financing. The 336-unit mid-rise project is slated for completion in 2028. Emi on 50 includes studios, one-, two- and three-bedroom units as well as townhomes. Amenities feature a rooftop pool and terrace, a ninth-floor pickleball court, a courtyard, coworking spaces and a speakeasy-inspired lounge. The property will be managed by Willow Bridge Property Co.

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DevelopmentFinanceNewsSoutheastVirginia

HGI, Middleburg Break Ground on Scottwood in Richmond

by Lynn Peisner

RICHMOND, VA. — Middleburg and Harbor Group International have secured an undisclosed sum of construction financing to build Scottwood, a 299-unit property in Richmond. Construction is underway with completion slated for 2027. Truist Bank funded the loan. Henrico County has designated the area surrounding Scottwood as a special focus area for mixed-use development. The community will consist of two four-story buildings, one with 132 units and the other with 167, as reported by Richmond BizSense.

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heritage-point-Buffalo
DevelopmentFinanceNew YorkNewsNortheast

JLL Arranges $26M in Construction Financing for Buffalo Mixed-Use Project

by Lynn Peisner

BUFFALO, N.Y. — JLL has arranged approximately $26 million in construction financing for Heritage Point, a mixed-use development in Buffalo that includes 61 apartments. The capital stack consists of a $14.8 million construction loan from lender X-Caliber and $11.2 million in Commercial Property Assessed Clean Energy (C-PACE) financing from CastleGreen Finance. Locally based Sinatra & Co. is the developer and will pursue LEED certification. Located at 120 Main St., Heritage Point will include two six-story properties. Completion is slated for the third quarter of 2027. The JLL Capital Markets team …

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Domain-Memorial-Houston
FinanceNewsTexas

Knightvest Capital Obtains $81M Refinancing for Houston Property

by Lynn Peisner

HOUSTON — Mesa West Capital has provided an $81 million loan to Knightvest Capital to refinance Domain Memorial, a 313-unit rental townhome community 17 miles west of Houston in the metro area’s Briar Forest/West Memorial submarket. During its ownership, Dallas-based Knightvest has renovated a majority of Domain Memorial’s units and has completed improvements to the parking lot, clubhouse, pool area, fitness center, lighting and landscaping and also has installed a new electric vehicle charging station. Knightvest will use a portion of the proceeds from the five-year, floating-rate loan to complete …

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Project-Greyhound-Richmond
DevelopmentFinanceNewsSoutheastVirginia

Walker & Dunlop Arranges $132M for Richmond Bus Terminal Redevelopment

by Lynn Peisner

RICHMOND, VA. — Walker & Dunlop has arranged $132 million in financing for a joint venture’s redevelopment of a former bus station in Richmond. AIP, Pointsfive and Bridge Investment Group will replace the Greyhound terminal at 2910 North Arthur Ashe Blvd. in Richmond’s Scott’s Addition neighborhood with a 550,000-square-foot property comprised of 396 apartment units and approximately 14,000 square feet of retail. The capital stack includes equity and an $85.6 million construction loan provided by Madison Realty Capital. The bus station and service depot was in operation from approximately 1984 …

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The-Opal-West-Valley-City
FinanceNewsUtahWestern

JLL Arranges Refinancing for The Opal in Salt Lake City Metro

by Lynn Peisner

WEST VALLEY CITY, UTAH — JLL has arranged an undisclosed amount of debt on behalf of TPG Angelo Gordon and Timberline Parters to refinance The Opal in West Valley City. JLL’s team was led by Leon McBroom, Jack Hunsicker and Ellie Savage. The Opal, completed in 2024, is comprised of 262 units and amenities such as a fitness center, hot tub, pickleball courts, clubroom and a pool. The property is 10 miles southwest of downtown Salt Lake City.

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HTG-Red-Oaks-Austin
Affordable HousingDevelopmentFinanceNewsTexas

HTG Opens $26M Red Oaks Affordable Housing in Austin

by Lynn Peisner

AUSTIN, TEXAS — Housing Trust Group (HTG) has completed and opened Red Oaks, a 70-unit, $26 million affordable housing community in the Anderson Mill neighborhood of Northwest Austin. Apartments at Red Oaks will be reserved for families earning 30, 50 and 60 percent of local area median income, which was $94,000 for an individual and $134,000 for a family of four in 2025, according to HUD. Miami-based HTG partnered with nonprofit group AM Affordable Housing and locally based consulting firm Thoman & Butler on the project. Funding sources for Red …

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