Finance

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

by Lynn Peisner June 6, 2025

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 …

June 6, 2025

Berkadia Development Finance Florida News Southeast

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

by Lynn Peisner June 5, 2025

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 …

June 5, 2025

Development Finance Georgia News Southeast

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

by Lynn Peisner June 4, 2025

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. …

June 4, 2025

Finance News South Carolina Southeast

Mesa West Funds $50.4 Million ReFi for Woodfield

by Lynn Peisner June 3, 2025

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 …

June 3, 2025

Arizona Finance Florida News Southeast Western

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

by Lynn Peisner June 2, 2025

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 …

June 2, 2025

California Development Finance News Western

BWE Secures $220 Million Refinancing for Luxury Apartments in Los Angeles’ Koreatown

by Lynn Peisner May 30, 2025

LOS ANGELES — BWE has arranged $220 million in loans for locally based Jamison Properties to refinance construction debt on Opus, a 428-unit high-rise in Los Angeles’ Koreatown neighborhood. Jamison broke ground on Opus in 2022 and opened the property, which consists of two towers, in 2024. Opus is managed by Greystar. Monthly rental rates range from $3,630 to $4,945, according to Apartments.com. The property was 90 percent leased at the time of the loan closing. BWE’s Max Sauerman, senior vice president, and Tyler Shebeck, vice president in BWE’s Los …

May 30, 2025

Affordable Housing Development Finance Midwest

Cinnaire Raises $340 Million Fund for Affordable Housing Development in 11 States

by Lynn Peisner May 28, 2025

LANSING, MICH. — Cinnaire, a nonprofit financial services company based in Lansing, has raised $340 million, which will finance 33 affordable housing developments in 11 states. Dubbed Fund 43, the LIHTC financing will back a total of 2,455 affordable housing units. Haven on Main in La Crosse, Wisconsin, will be one of the projects. It will be a 70-unit community including 59 affordable units and 11 market-rate units. Eighteen units will be reserved for individuals with intellectual and developmental disabilities, veterans and those experiencing chronic homelessness. Half of the total …

May 28, 2025

Affordable Housing Development Finance News Northeast Washington, D.C.

Advantage Capital Arranges Tax Credits For $51 Million D.C.-Area Affordable Housing Redevelopment

by Lynn Peisner May 28, 2025

FALLS CHURCH, VA. — Advantage Capital has secured $15 million in state low-income housing tax credits for Telestar Court, Conifer Realty’s office-to-residential redevelopment in Falls Church. The total project cost for the affordable housing project is $51 million. Advantage Capital arranged the tax credits in connection with the Virginia Housing Opportunity Tax Credit program, a tool for expanding the supply of affordable housing across the commonwealth. The former medical office building will be converted to an 80-unit community serving residents earning between 30 and 80 percent of area median income. …

May 28, 2025

Finance Florida News Southeast

Branch Properties Secures $47 Million Refinancing

by Lynn Peisner May 27, 2025

NAVARRE, FLA. — CBRE has arranged a $47 million loan, provided by Voya Investment Management, for Branch Properties to refinance construction debt on Elevate Navarre, a new 332-unit community in Navarre, which is a Florida Panhandle city about 22 miles east of Pensacola. Atlanta-based Branch Properties opened the property in 2023. Blake Cohen with CBRE Capital Markets’ Debt & Structured Finance in Atlanta arranged the three-year, fixed-rate, interest-only loan. Elevate Navarre consists of 11 three-story buildings and a clubhouse/leasing center situated on 20 acres. It features one-, two- and three-bedroom …

May 27, 2025

Finance Industry Voices Investment Sales

Investment Opportunities Look Different in the Tariff Era

by Lynn Peisner May 21, 2025

The recent surge of U.S. tariffs has added a new dimension to an already complex environment for multifamily development. As the CEO of Atlas, I’m watching these shifts closely, not just through a macroeconomic lens, but also from the practical standpoint of what they mean for builders, owners and investors in multifamily housing. The conversation isn’t just about geopolitics or trade imbalances anymore — it’s about how tariffs intersect with affordability, construction cycles, capital costs and the evolving supply-demand dynamic in the U.S. rental market. Three questions keep coming up …

May 21, 2025

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