Finance

Render-Legacy-Trail-Nokomis
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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Dutch-House-LIC
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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Craig-Johnsen-PPR-Capital-Management
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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East-Peoria-Redevelopment
DevelopmentFinanceIllinoisInvestment SalesMidwestNews

Eastern Union Arranges $15.9M Loan for Adaptive Reuse Project in East Peoria, Illinois

by Lynn Peisner

EAST PEORIA, ILL. — Eastern Union has arranged a $15.9 million acquisition and construction loan for the conversion of a former assisted living facility into a 246-unit multifamily property located at 500 Centennial Drive in East Peoria. The financing was arranged by Joe Siegfried of Eastern Union. The borrower was The H&A Group of South Bend, Indiana, a real estate investment and development company focused on value-add and adaptive reuse projects across multiple asset classes. The loan was provided by Genesis Capital, which is based in Sherman Oaks, California. Originally …

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Wolf-Point-West-Chicago
FinanceIllinoisMidwestNews

JLL Arranges $141.8M Refinancing for Wolf Point West in Chicago

by Lynn Peisner

CHICAGO — JLL has arranged a $141.8 million refinancing loan for Wolf Point West, a 509-unit, 48-story tower in Chicago’s River North neighborhood. The borrower/owner is Hines in partnership with AFL-CIO Building Investment Trust, Magellan Development Group and the Joseph P. Kennedy Trust. New York Life Insurance Co. was the lender for the three-year, floating-rate loan. JLL’s team was led by Danny Kaufman, Medina Spiodic, Rebecca Brielmaier and Youngsoo Yang. Wolf Point West opened in 2016 and is a LEED Silver-certified building with 24-hour door staff, an outdoor pool with …

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ConnecticutFinanceNewsNortheast

Newmark Arranges $115.6M Refinancing for Two Southeastern Connecticut Assets

by Lynn Peisner

EAST LYME, CONN. — Newmark has arranged a $115.6 million Freddie Mac loan to refinance The Cove at Gateway Commons and Sound at Gateway, two communities less than half a mile apart in East Lyme along Connecticut’s southeastern shore. Newmark’s Avi Kozlowski led the transaction. Sound at Gateway Commons offers garden-style studio- to three-bedroom units, while The Cove at Gateway Commons consists of one-, two- and three-bedroom apartments and townhomes with attached garages.

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Convent-Ave-NYC
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Haussmann Secures $40.8M Loan, Breaks Ground on Manhattan Mixed-Income Development

by Lynn Peisner

NEW YORK CITY — Haussmann Development has obtained a construction loan for approximately $40.8 million and broken ground on an 84-unit building at 16-20 Convent Ave. in North Manhattan. Affinius Capital provided the construction loan in partnership with Axonic Capital. The building will include ground-floor community space that will serve as the third location of Little Legacy Village, the childcare practice that Haussmann co-founded. Completion of the ground-up Opportunity Zone project is slated for early 2028. The project will include an unspecified number of permanently affordable units. It is being …

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