Finance

Bill Ketcham, The Mogharebi Group
DevelopmentFinanceInvestment SalesLeasing & MarketingMarket ReportsNevadaWestern

Development Boom has Turned Nevada into a Renter’s Market

by Channing Hamilton

The Nevada multifamily market, which is primarily made up of Reno and Las Vegas, faced significant challenges in 2023, particularly due to rising interest rates and a slowdown in sales volume.  Rents declined by approximately 8 percent since their peak in the fourth quarter of 2021. Despite these setbacks, investors remain attracted to multifamily properties in Nevada, buoyed by the state’s favorable economic indicators and potential for long-term returns.  However, supply constraints and rising construction costs pose ongoing challenges that could impact future market growth. Nonetheless, the Nevada multifamily market …

Continue Reading
0 FacebookTwitterLinkedinEmail
A property included in a portfolio of seven assets in Spartanburg and Mauldin, South Carolina
FinanceNewsSouth CarolinaSoutheast

JLL Capital Markets Arranges $53.4 Million Bridge Financing for 877-Unit Portfolio in South Carolina

by Channing Hamilton

SPARTANBURG AND MAULDIN, S.C. — JLL Capital Markets has negotiated $53.4 million in bridge financing for a portfolio consisting of 877 units across five properties in Spartanburg and two communities in Mauldin. All seven properties were constructed between 1971 and 1986. The portfolio was 70 percent occupied at the time of sale.  Of the total unit count, 139 have been recently renovated. Additionally, the sponsor plans to remodel an additional 300 apartments. Planned restorations include updates to in-unit features such as new cabinet faces, stainless steel appliances, quartz countertops, light fixtures and non-carpet …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNew YorkNewsNortheast

Greystone Provides $21.5 Million Refinancing for Two Properties in New York City

by Channing Hamilton

NEW YORK CITY — Greystone has provided a total of $21.5 million in Fannie Mae Delegated Underwriting & Servicing loans to refinancing two communities in New York City’s Harlem neighborhood. Greystone provided $11.4 million for The Duke, a 28-unit building located at 521 W. 134th St., and $10.1 million for The Count, a 27-unit asset located at 168 W. 136th St. Each of the non-recourse, fixed-rate loans in the portfolio carries a five-year term and 30-year amortization schedule, with interest-only payments for the first two years of the term. Avi Kozlowski …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNew YorkNewsNortheast

J.P. Morgan Provides $210 Million Refinancing for 12-Property Affordable Housing Portfolio in New York City

by Channing Hamilton

NEW YORK CITY — J.P. Morgan has provided a $210 million Freddie Mac loan for the refinancing of a portfolio of 12 transitional and affordable housing properties in New York City. The loan carries a seven-year term and a fixed interest rate. The borrower is a partnership between two locally based firms, developer Slate Property Group and alternative asset management firm Fundamental Advisors. The portfolio totals 1,115 apartment units across approximately 304,000 square feet. The properties are located in Manhattan, Brooklyn, Queens and The Bronx. Each property is leased to …

Continue Reading
0 FacebookTwitterLinkedinEmail
Palladium City Skyline in Fort Worth, Texas
DevelopmentFinanceNewsTexas

Palladium USA to Develop 243-Unit Palladium City Skyline in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Palladium USA, in a public-private partnership with the Fort Worth Housing Finance Corp. (FWHFC), plans to develop Palladium City Skyline, a 243-unit project in Fort Worth. The eight-acre community will feature amenities such as indoor and outdoor children’s play areas, fitness center, pool and dog run. The community will offer affordable housing options for individuals earning 30, 60, 70 and 80 percent of the area median income. The first units are expected to be available for leasing by early 2026. Palladium City Skyline will be built …

Continue Reading
0 FacebookTwitterLinkedinEmail
Speakers at the build-to-rent panel at InterFace Carolinas Multifamily
Build-to-RentDevelopmentFeaturesFinanceNorth CarolinaSoutheast

Build-to-Rent Residential Sector Remains in a Sweet Spot, Say InterFace Panelists

by Channing Hamilton

CHARLOTTE, N.C. — Build-to-rent (BTR), or purpose-built neighborhoods of single-family rental homes, has been an emerging subsector of the multifamily continuum the past several years. The housing type fills a niche for renters as it offers more living space and privacy than typical apartments, but is more affordable and amenitized than for-sale homes. The BTR sector began its ascent during the early years of the COVID-19 pandemic when a confluence of factors —the rise in work-from-home and hybrid work schedules, an increase in household formation of younger millennials, the desirability …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Delford in Rochelle Park, New Jersey
FinanceNew JerseyNewsNortheast

JLL Capital Markets Brokers $44 Million Financing for The Delford in Rochelle Park, New Jersey

by Channing Hamilton

ROCHELLE PARK, N.J. — JLL Capital Markets has arranged $44 million in financing for The Delford, a 160-unit community in the New York City suburb of Rochelle Park. JLL represented the borrower, Tulfra Real Estate, to secure the five-year, fixed-rate loan through Nuveen Real Estate. Michael Klein, Jon Mikula and Ryan Carroll led the JLL Capital Markets Debt Advisory team. Situated at 120 W. Passaic St., The Delford offers one-, two- and three-bedroom floor plans. The unit mix includes 136 market-rate units and 24 affordable units. Income restrictions for the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingFinanceIllinoisMidwestNews

FHLBank Chicago Launches $300 Million LIHTC Collateral Pilot Program

by Channing Hamilton

CHICAGO — The Federal Home Loan Bank of Chicago (FHLBank Chicago) has launched the Low-Income Housing Tax Credit (LIHTC) Collateral Pilot Program. Through member banks, credit unions, insurance companies, community development financial institutions (CDFIs) and eligible housing associates, the program aims to amplify and incentivize lending in support of affordable housing for low-income individuals and families. The LIHTC Collateral Pilot Program provides members with increased lendable value on their pledged collateral for up to $300 million of qualifying mortgage loans on LIHTC multifamily projects. While all FHLBank Chicago members are …

Continue Reading
0 FacebookTwitterLinkedinEmail
Brickline at The Mercantile in Omaha, Nebraska
FinanceMidwestNebraskaNews

Northmarq Provides $75.5 Million Refinancing for Brickline at The Mercantile in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — Northmarq has provided a $75.5 million Fannie Mae loan for the refinancing of Brickline at The Mercantile, a 379-unit property in Omaha. The complex was built in 2023. Amenities include a pool, golf simulator, fitness center, yoga studio, electric vehicle charging stations and coworking spaces. The community also features commercial space, which has been leased to three restaurant/entertainment concepts. Kevin McCarthy, Jeff Frankel, Alex Czachor and Jason Kinnison of Northmarq originated the loan on behalf of the borrower, a joint venture between Hines and Cresset Real Estate …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsSoutheastVirginia

Walker & Dunlop Arranges $24.3 Million Financing for ZeroPak Apartments in Winchester, Virginia

by Channing Hamilton

WINCHESTER, VA. — Walker & Dunlop has negotiated $24.3 million in federal Low-Income Housing Tax Credit (LIHTC) and Federal Historic Tax Credit (FHTC) equity for ZeroPak Apartments, a property located on 3.7 acres at 536 N Cameron St. in Winchester. ZeroPak Apartments is the adaptive reuse of a cold storage warehouse, which was originally built in 1902. The property now consists of one building with six designated sub-sections. Don Snyder and the Walker & Dunlop Affordable Equity team arranged the equity on behalf of the borrower, Zeropak Development LLC. Erick …

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