Finance

Madison-Bellevue
FinanceNewsWashingtonWestern

Ezralow Co. Secures $73.5 Million to Refinance Madison Bellevue

by Lynn Peisner

BELLEVUE, WASH.  — Berkadia has arranged a $73.5 million loan on behalf of California-based The Ezralow Co. to refinance The Madison Bellevue, a 281-unit garden-style property in Bellevue. Senior Managing Director Allan Freedman of Berkadia Los Angeles secured the financing through Freddie Mac. The Madison Bellevue features one- and two-bedroom layouts with quartz countertops, kitchen islands, hardwood-style flooring, washers and dryers, stainless steel appliances and private patios. Amenities include a gym, pool and lounge.

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Jair Lynch
Affordable HousingDevelopmentFinanceNewsNortheastWashington, D.C.

Jair Lynch Secures Loans, Tax Credit Equity for D.C. Mixed-Income Development

by Lynn Peisner

ALEXANDRIA, VA. —Grandbridge Real Estate Capital, a subsidiary of Truist Financial Corp., has arranged $100 million in Freddie Mac loans on behalf of locally based Jair Lynch Real Estate Partners. In addition to the permanent financing, affiliates of Truist also served as a low-income housing tax credit equity investor for the transaction. The financing package includes a $38 million, tax-exempt loan and a $62 million taxable tail loan. The 15-year, fixed-rate loans and equity will finance the construction of a 310-unit, unnamed mixed-income project that will be built at 505 …

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Alex-LaFlam
FinanceIndustry VoicesLeasing & MarketingOperations

Rethinking Amenities During Budget Season: Smarter Spending for Long-Term Resident Satisfaction

by Lynn Peisner

— By Alex LaFlam — Budget season, whenever it occurs in your organization, can bring out the red pens. Faced with rising operational costs and pressure to meet aggressive financial goals, multifamily operators often begin the budgeting process by scanning for line items to trim. Unfortunately, that impulse frequently puts resident-facing services — especially amenities — on the chopping block. It’s easy to see why: Amenities are sometimes seen as “nice-to-haves,” expendable in the face of economic pressure. But that mindset can carry long-term costs. In competitive or stabilized markets, …

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Cabana-Bullard
ArizonaFinanceNewsWestern

BWE Arranges ReFi for Greenlight Communities’ Phoenix Asset

by Lynn Peisner

GOODYEAR, ARIZ. — BWE has arranged a $31.3 million loan for Greenlight Communities, which will use the funds to refinance existing construction and development debt for Cabana Bullard in Goodyear about 20 miles west of Phoenix. Based out of the BWE Phoenix office, Charlie Williams, executive vice president, and Matt Terpstra, vice president, arranged the three-year loan through a national life company lender. Cabana Bullard was developed in 2023. It includes 336 units offered as studios or as one- or two-bedroom floor plans.

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Payne_David
Affordable HousingCompany NewsFinanceNewsPeople News

Regions Affordable Housing Names David Payne Head of Originations

by Lynn Peisner

BIRMINGHAM, ALA. — Regions Bank has promoted David Payne to head of originations for Regions Affordable Housing. Payne will oversee all affordable housing originations in order to provide financing that will support developers through low-income housing tax credits and other banking options. He also will provide business development efforts and leadership to the Regions group. Payne will report to Katie Such, head of Regions Affordable Housing. Payne previously served as co-head of originations for Regions Affordable Housing and led the bank’s work in sourcing and originating transactions across the Southeast. …

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NOVO Apartments
Affordable HousingDevelopmentFinanceInvestment SalesNews

Community HousingWorks Completes L.A. Metro Acquisition, Plans Affordable Conversion

by Lynn Peisner

ROWLAND HEIGHTS, CALIF. — Community HousingWorks (CHW) has acquired NOVO Apartments in Rowland Heights and will convert the market-rate property into affordable housing. Northmarq arranged the $38.3 million sale as well as a $24.9 million fixed-rate, affordable-conversion, Freddie Mac acquisition loan for CHW. Stratford Partners Real Estate was the seller. NOVO was constructed in 1974. Additional financing details for the conversion were not disclosed, but CHW often uses its own equity and 4 percent low-income housing tax credits to fund developments, according to nonprofit directory GuideStar. Rowland Heights is about …

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Mayla-Cypress-Creek
BerkadiaDevelopmentFinanceFloridaNewsSoutheast

Grover Corlew Secures $92 Million to Develop Mayla Cypress in Fort Lauderdale

by Lynn Peisner

FORT LAUDERDALE, FLA. — Grover Corlew, a Boca Raton, Florida-based developer, has secured a $92 million construction loan to build Mayla Cypress, a 312-unit community in the Cypress Creek submarket of North Fort Lauderdale. Berkadia Managing Director Scott Wadler, Vice President Patrick Johnson, Senior Managing Director Mitch Sinberg, along with Brad Williamson and Matthew Robbins, managing directors of Berkadia Miami and Boca Raton, arranged the three-year construction loan provided by Affinius Capital. The deal closed on May 30. Mayla Cypress is situated on a 3.7-acre site Grover Corlew assembled in …

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mosaic-pooler-renderings
DevelopmentFinanceGeorgiaNewsSoutheast

Berkadia Arranges $60.8 Million for Bayline’s Mosaic Pooler Development

by Lynn Peisner

POOLER, GA. — Berkadia has arranged approximately $60.8 million in construction financing for Bayline Group’s Mosaic Pooler project. The 333-unit community will open by approximately May 2026. Located in Mosaic Town Center, a 170-acre, mixed-use development about 10 miles west of Savannah, Georgia, the community will provide a mix of one-, two-, and three-bedroom units. An affiliate of Bayline Group acquired the 12-acre site at 800 High Ave. in 2023. Bank OZK provided a $47.5 million three-year, floating-rate loan. Berkadia also lined up $13.3 million in preferred equity through FCP. …

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The-Ames
FinanceNewsSouth CarolinaSoutheast

Mesa West Funds $50.4 Million ReFi for Woodfield

by Lynn Peisner

SUMMERVILLE, S.C. — Woodfield Development has secured $50.4 million to refinance The Ames in Summerville. Walker & Dunlop’s Charleston Capital Markets team, led by Walker Layne and Austin Sneed, arranged the loan while Mesa West Capital provided the funds. Woodfield developed the 304-unit property and opened it last year. It is located in Nexton, a mixed-use community in Summerville, 25 miles northwest of Charleston. The Ames includes floor plans ranging from studios to three-bedrooms. Community amenities include a resort-style pool with poolside cabanas and grilling stations, an outdoor amphitheater, a …

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Oaktree-Portfolio_alcove-orlando
ArizonaFinanceFloridaNewsSoutheastWestern

JLL Capital Markets Arranges $255.3 Million ReFi for TruAmerica, Oaktree Capital Management

by Lynn Peisner

LOS ANGELES — TruAmerica Multifamily and Oaktree Capital Management, both based in Los Angeles, have secured a loan for approximately $255.3 million to refinance four properties. JLL Capital Market’s debt advisory team represented the borrower and was led by President Kevin Mackenzie and Managing Directors Annie Rice and Brandon Smith. The JLL team arranged a five-year, floating-rate loan through a national bank. The portfolio includes three Florida properties: Arbors at Carrollwood in Tampa and Audubon Park and Alcove Orlando in Orlando. In Arizona, the portfolio features Luxe Scottsdale. The properties …

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