Finance

House Apartments in Eagle, Colorado
ColoradoFinanceNewsWestern

Brikwell Secures $7.5 Million Loan for Refinancing of House Apartments in Eagle, Colorado

by Channing Hamilton

EAGLE, COLO. — Brikwell has received a $7.5 million loan for the refinancing of House Apartments, a 54-unit property located at 85 Pond Road in Eagle, about 30 miles west of Vail, Colorado. Tony Nargi of JLL Capital Markets negotiated the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender, will service the loan. Completed in 1998 on 4.8 acres, House Apartments totals 27,838 rentable square feet. The elevator-served building rises three stories. Residents have access to amenities such as a laundry facility, community kitchen and work-from-home …

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Affordable HousingFinanceInvestment SalesNewsNortheastPennsylvania

Lument Provides $24.8 Million Acquisition Loan for Affordable Housing Asset in Levittown, Pennsylvania

by Channing Hamilton

LEVITTOWN, PA. — Lument has provided a $24.8 million Freddie Mac acquisition loan for an affordable housing complex in Levittown, approximately 27 miles northeast of Philadelphia. The property was completed in 1972 and offers amenities such as clubhouse, fitness center, playground and outdoor grilling stations. The name of the asset was not disclosed. The buyer was an affiliate of New Jersey-based owner-operator Silverstein Properties. John Hurley of Lument originated the financing, which carried a five-year term and a 35-year amortization schedule, on behalf of the buyer. Zach Schwartz of Brook …

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Town Square at Mark Center in Alexandria, Virginia
FeaturesFinanceNortheastOperationsWashington, D.C.

MBA: Commercial, Multifamily Loan Volume to Increase 16 Percent in 2025

by Channing Hamilton

WASHINGTON, D.C. — The Mortgage Bankers Association (MBA) is forecasting that total commercial and multifamily mortgage borrowing and lending will rise to $583 billion in 2025, which is a 16 percent increase from 2024’s estimated total of $503 billion. The Washington, D.C.-based organization made the announcement at its 2025 Commercial/Multifamily Finance Convention and Expo (CREF) event taking place in San Diego. Multifamily lending, which is calculated into the total figure, is expected to rise to $361 billion in 2025 — also a 16 percent increase from last year’s estimate of …

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Red Table Apartments in Gypsum, Colorado
ColoradoFinanceNewsWestern

Brikwell Secures $18.7 Million Loan for Refinancing of Property in Gypsum, Colorado

by Channing Hamilton

GYPSUM, COLO. — Brikwell has received an $18.7 million loan through Freddie Mac for the refinancing of Red Table Apartments, a 77-unit community located at 765 Red Table Drive in Gypsum. The property comprises 64,692 rentable square feet on a 3.6-acre site. Tony Nargi of JLL Capital Markets arranged the 10-year, fixed-rate loan, which will be serviced by JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender. Built in 2009 and expanded in 2018, Red Table Apartments offers a mix of studio, one- and two-bedroom units. The three-story community …

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Mailman Post in Raleigh, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

Turnbridge Equities Receives $51.2 Million Construction Loan for Build-to-Rent Project Near Raleigh, North Carolina

by Channing Hamilton

KNIGHTDALE, N.C. — Turnbridge Equities has received a $51.2 million construction loan for Mailman Post, a 302-unit build-to-rent (BTR) development in Knightdale, about 12 miles east of Raleigh, North Carolina. Paul Spellman, Chris Peck and Ward Smith of JLL Capital Markets arranged the non-recourse loan through a regional bank. Mailman Post is located on 74 acres at 409 and 438 Mailman Rd. The community will feature a mix of two- through five-bedroom units with an average size of approximately 1,650 square feet. Each unit will include a backyard, garage and …

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Columbus Plaza in Chicago
FinanceIllinoisMidwestNews

Habitat Receives $102.4 Million for Refinancing of Columbus Plaza in Chicago

by Channing Hamilton

CHICAGO — Habitat has received a $72.9 million Freddie Mac loan, as well as $29.5 million in equity from New York-based Torchlight Investors for the refinancing of Columbus Plaza, a high-rise community located in downtown Chicago. Torchlight Investors joins Habitat as an equity partner in the property. Northmarq arranged the Freddie Mac loan. The refinancing replaces a $93 million loan from 2017 that matured in November. Habitat and its partners will use the new loan and capital structure to plan renovations and other capital improvements. Columbus Plaza consists of 534 …

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Sutphin II in Jamaica, New York
DevelopmentFinanceNew YorkNewsNortheast

Dwight Mortgage Provides $148 Million Construction Loan for Project in Jamaica, New York

by Channing Hamilton

JAMAICA, N.Y. — Dwight Mortgage Trust has provided a $148 million loan for the construction of Sutphin II, a 524-unit mixed-income project in Jamaica, roughly 15 miles east of New York City. Steven Hersko of the SHB Group arranged the financing on behalf of the developer, a partnership led by Moshe Braver. The 24-story building will offer 366 market-rate residences and 158 affordable housing units. Income restrictions for the affordable units were not disclosed. Upon completion, however, Sutphin II will quality for a 35-year 421-a tax abatement and Brownfield Redevelopment Tax …

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Society Nashville in Nashville, Tennessee
DevelopmentFinanceNewsSoutheastTennessee

Joint Venture Tops Out $197 Million Development in Nashville, Tennessee

by Channing Hamilton

NASHVILLE, TENN. — A joint venture consisting of PMG, New Valley Realty and RMWC has topped out Society Nashville, 16-story mixed-use development located at 915 Division St. in The Gulch neighborhood of Nashville. Society Nashville will feature 502 apartment units, as well as 8,400 square feet of retail space and 485 parking spaces. The first move-ins at Society Nashville are expected by the end of the year. The developers have received a total of $197 million in financing for the project, including a $162 million construction loan from Square Mile …

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4117 E Concours St. in Ontario, California
CaliforniaDevelopmentFinanceNewsWestern

Adept Urban Development Receives $107 Million Construction Financing for Mixed-Use Development in Ontario, California

by Channing Hamilton

ONTARIO, CALIF. — Adept Urban Development has received $107 million in financing for the construction of a 384-unit community in Ontario, about 40 miles east of Los Angeles. The project is located at 4117 E Concours St., adjacent to the Toyota Arena, and will also feature 26,000 square feet of retail space. A development timeline was not disclosed. Stefen Chraghchian of Marcus & Millichap Capital Corp. arranged the financing through Affinius Capital and Bank OZK.

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425 Montgomery Street in Alexandria, Virginia
DevelopmentFinanceNewsSoutheastVirginia

Partnership Receives Construction Loan for $131 Million Project Near Washington, D.C.

by Channing Hamilton

ALEXANDRIA, VA. — Carr Properties has formed an equity joint venture with Barings for the development of 425 Montgomery Street, a $131 million project converting a former office building in Alexandria’s Old Town neighborhood into a rental housing community. The partnership received an $84 million construction loan from investment firm Kennedy Wilson. Cushman & Wakefield served as advisor for both the equity and debt financings. The eight-story, 250,000-square-foot project will offer 237 apartments in studio, one-, two- and three-bedroom floor plans. Planned amenities include an outdoor pool and a resident …

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