Finance

25-Garvey-Street-
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

Joint Venture Secures Financing for Affordable Development Near Boston

by Lynn Peisner

EVERETT, MASS. — MassDevelopment has issued a $34.3 million tax-exempt bond to Impact Residential Development and The Neighborhood Developers as part of the funding for an affordable housing project in Everett, six miles north of Boston. The development will include 107 units rented to households earning up to 60 percent of area median income (AMI), 17 units rented to households earning up to 30 percent of AMI and one property-manager unit. Construction is underway and is expected to be completed in May 2027. The tax-exempt bond was purchased by First …

Continue Reading
0 FacebookTwitterLinkedinEmail
626-Newark-Avenue-Jersey-City
DevelopmentFinanceNew JerseyNewsNortheast

Namdar Group Lands $220 Million Bridge Loan for Jersey City Project

by Lynn Peisner

JERSEY CITY, N.J. — Namdar Group has secured a $220 million bridge loan to refinance 626 Newark Avenue, a 576-unit, mixed-use project under development in Jersey City. The developer secured construction financing back in January 2024. Completion is slated for 2026. Walker & Dunlop arranged the financing with a team led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Edward Leboyer. TYKO provided the capital.

Continue Reading
0 FacebookTwitterLinkedinEmail
Broadstone-Los-Feliz-Los-Angeles
CaliforniaFinanceNewsWestern

Mesa West Capital Provides $43.5 Million ReFi to Alliance Residential-Led Partnership

by Lynn Peisner

LOS ANGELES — Mesa West Capital has provided a $43.5 million refinancing loan to Alliance Residential and PCCP, joint venture owners of Broadstone Los Feliz in Los Angeles. The five-year, floating rate loan was arranged by the CBRE team of Troy Tegeler, Trevor Breaux, Ryan Greer and CJ Connolly. The property was 95 percent occupied at loan closing. Developed in 1986, Broadstone Los Feliz features a mix of studio, one- and two-bedroom apartments and an amenity package that includes a rooftop lounge and barbecue area with views of the Griffith …

Continue Reading
0 FacebookTwitterLinkedinEmail
Flager-Fort-Lauderdale
DevelopmentFinanceFloridaNewsSoutheast

JLL Arranges Construction Financing for Fort Lauderdale Project

by Lynn Peisner

FORT LAUDERDALE, FLA. — JLL has arranged a $28 million loan, provided by Goldman Sachs, for the development of URBANIA Flagler 1 Ave in Fort Lauderdale. The borrower and developer is Hollywood, Florida-based Continua Developments, a development company that was active in Colombia before doing business in the United States starting in 2021. JLL Capital Market’s Debt Advisory team was led by Max La Cava, Jimmy Calvo and Kenny Cutler. Continua is partnering with SP Developments, a Miami-based residential developer, on the URBANIA project. Construction started earlier this year, and …

Continue Reading
0 FacebookTwitterLinkedinEmail
MacDonald-Manor-Chesapeake
Affordable HousingDevelopmentFinanceInvestment SalesNewsSoutheastVirginia

Fairstead Buys, Plans Redevelopment of Hampton Roads-Area Affordable Housing Community

by Lynn Peisner

CHESAPEAKE, VA. — Fairstead has acquired MacDonald Manor, an affordable housing property in Chesapeake, and will redevelop it using $26 million of rental assistance demonstration (RAD) Section 18 funding. RAD Section 18 is a HUD program designed to preserve and improve affordable housing. The entire acquisition and rehab cost is $55 million. Chesapeake Redevelopment and Housing Authority, Virginia Housing and Hudson Housing Capital are project partners. The redevelopment work will begin this fall and is estimated to be complete in fall 2027. Located at 1331 MacDonald Road, MacDonald Manor is …

Continue Reading
0 FacebookTwitterLinkedinEmail
Bowers-Residences-SLC
FinanceNewsUtahWestern

Northmarq Arranges $38 Million ReFi of SLC Property

by Lynn Peisner

SALT LAKE CITY — Northmarq has arranged a $38 million refinancing loan provided by New York Life for locally based Dakota Pacific Real Estate, owner of Bowers Residences in Salt Lake City. Built in 2023, the community consists of studios and one-, two- and three-bedroom units. Amenities include a fitness center with a rock-climbing wall and yoga and spin studio, a rooftop lounge, coworking spaces, a rentable clubroom and kitchen and a courtyard with games and grills. Northmarq’s Salt Lake City Debt + Equity team was led by John Bradshaw, …

Continue Reading
0 FacebookTwitterLinkedinEmail
River-House-Apartment-Homes-Santa-Ana
CaliforniaFinanceNewsWestern

Northmarq Arranges $50 Million ReFi for Advanced Real Estate

by Lynn Peisner

SANTA ANA, CALIF. — Northmarq has arranged a $50.1 million refinancing, provided by Freddie Mac, for Advanced Real Estate, an Irvine, California-based investment, property management and development company. The new mortgage is for Advanced’s asset River House Apartment Homes in Santa Ana. Northmarq’s Newport Beach Debt + Equity team was led by Alex Kane, Joe Giordani, Brendan Golding and Alvin Cao. The loan has a 70 percent loan-to-value ratio, 1.2x debt coverage ratio and a 35-year amortization. The 240-unit River House was developed in 1987 and features one- and two-bedroom …

Continue Reading
0 FacebookTwitterLinkedinEmail
Pamela-Wilkes-Northmarq
Affordable HousingFinanceIndustry Voices

Affordable Housing Tax Changes: Understanding LIHTC, Bonds and Opportunity Zones

by Lynn Peisner

With the passage of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, Congress enacted the most significant expansion of housing incentives in more than two decades. For developers, investors and capital providers, this means new tools, more flexibility and a broader opportunity set.  At the heart of the legislation are updates to the Low-Income Housing Tax Credit (LIHTC) program, alongside permanent extensions to the Opportunity Zone (OZ) and New Markets Tax Credit (NMTC) incentives. Analysts estimate these changes could support the creation of up to 1.2 million …

Continue Reading
0 FacebookTwitterLinkedinEmail
50-70-Columbus
FinanceNew JerseyNewsNortheast

JLL Arranges $340 Million ReFi of New Jersey Transit-Oriented Development

by Lynn Peisner

JERSEY CITY, N.J. — JLL Capital Markets and BlueGate Partners have arranged a $340 million refinancing loan on behalf of Ironstate Development Co. and Panepinto Properties. Truist Financial Corp. funded the loans. The joint venture owners will use the financing for 50 & 70 Columbus, two high-rise towers constructed in 2007 and 2015 respectively. The properties are atop the Grove Street PATH station with direct access to Manhattan. JLL’s Debt Advisory team, representing the borrower, was led by Thomas Didio, Thomas E. Didio Jr., Gerard Quinn and Michael Mataras.

Continue Reading
0 FacebookTwitterLinkedinEmail
Peridot-Lounge
DevelopmentFinanceNewsTexas

CIM Group Provides $132 Million Loan for Phase II of Peridot in Dallas

by Lynn Peisner

DALLAS — Pacific Elm Properties has secured a $132 million loan to refinance Santander Tower, a Dallas high-rise that has been converted from an office building to a mixed-use community. A portion of the tower, known as Peridot, was converted to 291 units of multifamily in 2023. The new loan will support construction of the project’s second phase, which will add 105 additional apartments and bring the total Peridot offering to 396 residences upon completion. In addition to the Peridot apartments, the mixed-use Santander Tower offers the Mint House luxury …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.