Finance

Ravella-at-Sienna
FinanceNewsTexas

BridgeInvest Provides $40.5 Million Refinance in Suburban Houston

by Lynn Peisner

MISSOURI CITY, TEXAS — BridgeInvest has provided a $40.5 million refinancing loan to the owner of Ravella at Sienna, an offshoot of Orion RE Holdings and Sabal Investment Holdings. Ravella at Sienna is a 292-unit community in Missouri City, 22 miles southwest of downtown Houston. Way Capital arranged the loan. Amenities include a resort-style pool with cabanas, an outdoor gaming lounge with table tennis, a 24-hour fitness center, a dog park and pet spa, a social lounge with an entertainment kitchen and a conference room. The property was developed in …

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The-Olivia
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $58.3 Million ReFi for Miami-Suburb Property

by Lynn Peisner

HOMESTEAD, FLA. — Berkadia has arranged a $58.3 million Freddie Mac loan for Denver-based Grand Peaks Properties and Washington, D.C.-based Artemis Real Estate Partners. The two firms will use the funds to refinance existing debt on The Olivia in Homestead, located about 27 miles south of Miami. The joint venture owners acquired the property, developed in 2018, for $71 million in late 2021 in a Berkadia-brokered transaction. The Olivia sits on 3.4 acres at 14981 Southwest 283rd St. and offers 288 one-, two- and three-bedroom units and amenities such as …

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Residences-at-Plantation-Square
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

City of Plantation Grants MMG Equity Partners Approvals, Financing for Florida Mixed-Income Development

by Lynn Peisner

PLANTATION, FLA. — MMG Equity Partners has received site plan approval and $6 million in tax-increment financing (TIF) incentives from the City of Plantation for the development of Residences at Plantation Square. The project will include luxury apartments, workforce apartments and a new Bank of America building, all located within Plantation Square, a 10-acre mixed-use development in the Broward County city of Plantation, about 8 miles west of Fort Lauderdale. Residences at Plantation Square will include an eight-story residential building with 307 apartments and a six-story parking garage. Amenities include …

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URBY-Hoboken
DevelopmentFinanceNew JerseyNewsNortheast

PCCP Provides $162 Million Construction Loan for Hoboken Development

by Lynn Peisner

HOBOKEN, N.J. — Locally based Ironstate Holdings has secured a $162 million construction loan provided by PCCP for the development of Hoboken Urby, a 345-unit, transit-oriented development in Hoboken. Completion is slated for early 2028. The 16-story, 418,332-square-foot project will include 307 market-rate units, 38 affordable units and approximately 17,000 square feet of retail space, which will include a café. The site is less than a quarter of a mile from the Hoboken PATH train station. The unit mix will feature 29 studios, 220 one-bedrooms, 61 two-bedrooms and 35 three-bedrooms. …

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Alden-Park
FinanceNewsTexas

Dwight Capital Originates $59 Million HUD Loan for Alden Park Kingsland in Houston

by Lynn Peisner

HOUSTON — Dwight Capital has closed a $59 million HUD 223(f) loan for an undisclosed borrower. The borrower will use the loan to retire existing debt, cover closing costs, complete property enhancements and establish a replacement reserve account to fund future capital projects for Alden Park Kingsland, a 423-unit, garden-style community in Houston. The property features 10 three-story residential buildings, a community clubhouse, a mail kiosk and a car-care facility. Amenities include a fitness and business center, a resident lounge, a dog park, a carwash station, grilling areas and a …

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Arya-Apartments
DevelopmentFinanceNewsWestern

Helio Group Locks in $58 Million ReFi for Culver City Development

by Lynn Peisner

CULVER CITY, CALIF. — JLL Capital Markets has arranged a $58 million construction takeout loan for Helio Group. The loan was funded by Canyon Partners Real Estate and will be used to refinance existing debt used to develop Arya Apartments in Culver City. Arya is one of five multifamily projects Helio has developed in the greater Culver City submarket since 2018. The property features 38 studios, 36 one-bedrooms and 45 two-bedrooms, all of which feature smart-home technology. Asking rents on floor plans available as of late August range from $2,995 …

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Granby-Oaks-&-The-Vale
FinanceNewsSouth CarolinaSoutheastTennessee

JLL Arranges ReFi Loans for Owner of Properties in South Carolina and Tennessee

by Lynn Peisner

WEST COLUMBIA, S.C., AND NASHVILLE, TENN. — JLL has arranged approximately $33.9 million in Freddie Mac refinancing loans for two properties owned by PAM Associates. JLL Capital Market’s Debt Advisory Team arranged a $19.8 million loan for Granby Oaks in West Columbia and a $14 million loan for The Vale in Nashville. Granby Oaks is a 148-unit, garden-style community that was built in 1973. It features one-, two- and three-bedroom units. Since acquiring the asset in 2022, PAM Associates has invested approximately  $2.1 million in capital improvements, upgrading all of …

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Society-at-Laurens
FinanceNewsSouth CarolinaSoutheast

Southern Land Co. Refinances Charleston Development

by Lynn Peisner

CHARLESTON, S.C. — Walker & Dunlop has arranged a $75 million loan for Southern Land Co. to refinance construction debt used to develop Society at Laurens, a 148-unit community in Charleston that opened earlier this year. Walker & Dunlop’s Walker Layne, Matt Wallach and Stephen West arranged a three-year bridge loan through Aareal Capital. Society at Laurens is comprised of studios and one-, two- and three-bedroom units as well as penthouses. Amenities include a heated saltwater pool and a hot tub situated on a second-floor deck with views of Charleston …

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Aston-Residences
CaliforniaDevelopmentFinanceNewsWestern

Affinius Provides $92 Million Construction Loan to Helio Group for Culver City Project

by Lynn Peisner

CULVER CITY, CALIF. — Affinius Capital has provided a $92 million construction loan for the development of Aston Residences in Culver City, 10 miles west of Los Angeles. Helio Group, a Los Angeles-based developer, estimates completion by the first quarter of 2028. The eight-story building will include 190 units and 5,200 square feet of ground-floor retail. Most of the units (160) will be one-bedrooms, and the remaining 30 are two-bedrooms. Amenities include a fitness center, clubroom, indoor pickleball court, hot and cold plunge pools, bicycle parking and an outdoor kitchen. …

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Fox-and-Grouse-Phase-II
DevelopmentFinanceMidwestMinnesotaNews

Grego, Eagle Partners Lock in $56 Million for Second Phase of Minneapolis-Area TOD

by Lynn Peisner

EDEN PRAIRIE, MINN. — Greco and Eagle Ridge Partners have secured $55.6 million in debt and equity financing to complete the second phase of The Fox & The Grouse in Eden Prairie, 18 miles southwest of Minneapolis. JLL Capital Markets arranged the package, consisting of a $39.1 million, three-year, floating-rate loan through MidWestOne Bank and $16.5 million in joint venture equity from Amstar Group. The six-story community will offer a mix of studios and one-, two- and three-bedroom units, with a quarter of the units designated as affordable with rents …

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