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Finance

One Seven at Belleview Station in Denver
ColoradoFinanceNewsWestern

Trammell Crow, Cigna Secure $75 Million Refinance Loan for Denver Asset

by Lynn Peisner

DENVER — JLL Capital Markets has arranged a $75 million loan through a national life insurance company for Trammel Crow and Cigna. The joint-venture partnership will use the funds to pay off the original construction loan for One Seven at Belleview Station in Denver. The 250-unit, mixed-use property includes 7,062 square feet of retail. It opened in 2023 and is currently 69 percent leased. One Seven Belleview Station has a roof-top pool, remote work center, clubroom, wellness center, bike storage, pet spa and a theater room. Units are offered as …

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EastVillage in Austin, Texas
DevelopmentFinanceNewsTexas

Cottonwood Group Provides $284 Million for Mixed-Use Development in Austin

by Channing Hamilton

AUSTIN, TEXAS — Cottonwood Group has provided $284 million in financing for EastVillage, a 425-acre mixed-use development underway in Austin. The senior bridge loan supports the recapitalization of a 312-unit complex known as The Vaughan; a mixed-use multifamily and retail complex known as The Janis, which is currently under construction; 19 entitled land parcels; and the remaining unsold luxury units at The Linden Residences. Buffalo-based Reger Holdings is the master developer of EastVillage. Once completed, the project will feature roughly 2,000 apartments, as well as 810,000 square feet of office space; …

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Vive Luxe in San Diego, California
CaliforniaFinanceNewsWestern

Sunroad Enterprises Receives $188 Million for Vive Luxe in San Diego, California

by Channing Hamilton

SAN DIEGO, CALIF. — Sunroad Enterprises has secured $188 million loan for Vive Luxe, a 442-unit property in San Diego. Aldon Cole, Tim Wright and Bharat Madan of JLL Capital Markets represented the borrower in arranging the five-year, fixed-rate loan from accounts managed by global investment firm KKR. Built in 2021 at 4890 Sunroad Centrum Lane, Vive Luxe rises five stories. The community offers one-, two- and three-bedroom apartments ranging from 726 to 1,122 square feet. Of the total unit count, 23 have been set aside as affordable housing. Income …

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The Wimbledon in New York City
FinanceNew YorkNewsNortheast

KKR Provides $123 Million Loan for Refinancing of Manhattan Apartment Building

by Channing Hamilton

NEW YORK CITY — Global private equity firm KKR has provided a $123 million loan for the refinancing of The Wimbledon, a 214-unit complex located at 200 E. 82nd St. on Manhattan’s Upper East Side. The property offers one-, two- and three-bedroom units and includes 8,590 square feet of commercial space. Community amenities include a fitness center, outdoor theater, children’s playroom, package lockers and outdoor dining space. Jordan Roeschlaub and Chris Kramer of Newmark arranged the loan on behalf of the sponsor, Rockpoint Group.

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The Edison in Milwaukee
DevelopmentFinanceMidwestNewsWisconsin

The Neutral Project Breaks Ground in Milwaukee on $133.3 Million Mass Timber Building

by Channing Hamilton

MILWAUKEE — Madison, Wisconsin-based developer The Neutral Project has secured $133.3 million in construction financing for The Edison, a 378-unit project located at 1005 North Edison St. in Milwaukee. Mike Brady, Tara Hagerty and Merrick Evans of JLL Capital Markets arranged the senior financing through Bank OZK and the mezzanine financing through Pearlmark. The Edison will include 308,913 square feet of rentable residential space across 32 stories. The community will offer studio, one-, two- and three-bedroom apartments. Residents will have access to amenities such as a café, fitness center, pool …

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Waterstone at Cinco Ranch in Katy, Texas
FinanceNewsTexas

Northmarq Provides $25.2 Million Loan for Refinancing of Community Near Houston

by Channing Hamilton

KATY, TEXAS — Northmarq has provided a $25.2 million Freddie Mac loan for the refinancing of Waterstone at Cinco Ranch, a 206-unit complex located in Katy, roughly 30 miles west of downtown Houston. According to Apartments.com, the property was built in 2013 and offers one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, outdoor grilling and dining stations, game room and a car care center. Greg Duvall led the Northmarq team that originated the seven-year, fixed-rate loan. The borrower was not disclosed.

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K2 Apartments in Chicago
FinanceIllinoisMidwestNews

Georgetown Co. Receives $113.7 Million Loan for Refinancing of Rental Tower in Chicago

by Channing Hamilton

CHICAGO — Georgetown Co. has received a $113.7 million Freddie Mac loan for the refinancing of K2 Apartments, a 34-story residential tower located at 365 N. Halsted St. in Chicago’s Fulton Market district. Danny Kaufman, Medina Spiodic and Rebecca Brielmaier of JLL arranged the seven-year, fixed-rate loan on behalf of the borrower. Built in 2013, K2 Apartments comprises 496 units in studio, one-, two- and three-bedroom configurations. Amenities include a pool, terrace lounge, movie theater room, concierge services, a dog park and indoor basketball court. Georgetown Co. is an investment …

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Aventine in Huntersville, North Carolina
FeaturesFinanceFrom the MagazinesInvestment Sales

Investors Hedge Their Bets in 2025 to Guard Against Possible Industry Turbulence

by Channing Hamilton

The multifamily investment market has provided some mixed signals over the past year. There have been the ebbs and flows in the 10-year U.S. Treasury bond yield and interest rates, a moderating level of inflation (the Consumer Price Index rose 2.7 percent in November on an annual basis), and a hard-fought presidential election with Donald Trump emerging as the victor.  Despite the volatility in the debt markets, the overall sentiment among investors remains positive.  CoStar Group notes that multifamily transaction volume nationally rose 18 percent year over year in the …

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Centro City in Miami
DevelopmentFinanceFloridaNewsSoutheast

Terra Receives $291 Million Financing Package for Mixed-Use Development in Miami

by Channing Hamilton

MIAMI — Locally based developer Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use project located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story apartment buildings that house 470 market-rate units. JVP Management issued a $187 million loan for the development’s multifamily component, while Hudson Bay Capital issued a $104 million loan for the retail component. The funds will be used to pay …

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Fourteen Main Street Residences in Miami
FinanceFloridaNewsSoutheast

Starwood Property Trust Provides $63.5 Million in Refinancing for Mixed-Use Project in Miami

by Channing Hamilton

MIAMI, FLA. — Starwood Property Trust has provided $63.5 million for the refinancing of Fourteen Main Street Residences, a two-tower mixed-use development located at 1470 NW 36th St. in Miami. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia negotiated the financing on behalf of the sponsors, Neology Development Group and American Opportunity Zone Advisors. Once completed in the first quarter of 2025, Fourteen Main Street Residences will consist of 14-story building that houses 180 apartments, and a five-story building with 57 units. The community will offer studio, …

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