Finance

An unnamed 30-story, 405-unit project in Atlanta.
DevelopmentFinanceGeorgiaNewsSoutheast

Lalani Ventures, Exact Capital to Develop $160 Million Mixed-Income Community in Atlanta

by Channing Hamilton

ATLANTA — Locally based Lalani Ventures has formed a joint venture with New York City-based Exact Capital to develop a $160 million high-rise project located in the Five Points neighborhood of Atlanta. The tower will comprise 405 apartment units across 30 stories. The unit mix will include 163 affordable housing units that will be restricted to households earning at or below 60 percent of the area median income, as well as 242 market-rate apartments.  The tower will be situated within Underground Atlanta, a shopping and entertainment district in downtown Atlanta …

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Oak Grove Flats in Memphis, Tennessee
FinanceNewsSoutheastTennessee

Colliers Mortgage Provides $9.5 Million Acquisition Loan for 165-Unit Oak Grove Flats in Memphis, Tennessee

by Channing Hamilton

MEMPHIS, TENN. — Colliers Mortgage has provided a $9.5 million Fannie Mae loan for the acquisition of Oak Grove Flats, a 163-unit garden-style asset located at 595 Cadraca Drive in Memphis. Randy Engel of Colliers Mortgage’s Memphis office originated the agency loan on behalf of the borrower, an undisclosed sponsor that is a repeat client of Colliers Mortgage. The community offers one-, two- and three-bedroom floor plans, as well as on-site laundry facilities and a grilling area, according to Apartments.com.

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CaliforniaFinanceNewsWestern

BridgeCore Capital Provides $6.5 Million Refinancing for Property in Los Angeles

by Channing Hamilton

LOS ANGELES — BridgeCore Capital has provided a $6.5 million loan for the refinancing of an asset situated on the border of the Koreatown and MacArthur Park neighborhoods in Los Angeles. The undisclosed borrower will use the funds to refinance a matured loan and to pay outstanding property taxes. The name of the property was not disclosed. BridgeCore Capital structured the loan with a six-month prepaid interest reserve to cover the shortfall between net operating income and BridgeCore Capital’s debt service, as well as to avoid payment default by the …

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261 Grand Concourse and 315 Grand Concourse in New York City
DevelopmentFinanceNew YorkNewsNortheast

SCALE Lending Provides $135 Million Construction Loan for Two Projects in The Bronx

by Channing Hamilton

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $135 million construction loan for 261 Grand Concourse and 315 Grand Concourse, two adjacent buildings currently underway in the Mott Haven neighborhood of The Bronx. Both sites have been vested into New York’s 421a tax abatment program. Once completed in late 2025, the two buildings will rise 14 stories and comprise 405 units altogether. Apartments will come in studio, one- and two-bedroom layouts. The property will also feature 136 parking spaces and a …

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FinanceNevadaNewsWestern

Greystone Monticello Closes $40.3 Million in Bridge Financing for Two Properties in Las Vegas

by Channing Hamilton

LAS VEGAS — Greystone Monticello has closed two bridge loans totaling $40.3 million for two apartment complexes in Las Vegas. The funds will be used to refinance the outstanding bridge loans and provide additional time to enhance operations, positioning the properties for a potential future sale or permanent financing. Darryl Myrose of Greystone Monticello originated the loans. The borrower and properties were not disclosed.

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Hilliard Village in Columbus, Ohio
FinanceMidwestNewsOhio

JLL Capital Markets Arranges $20 Million Bridge Financing for Hilliard Village in Columbus, Ohio

by Channing Hamilton

COLUMBUS, OHIO — JLL Capital Markets has arranged $20 million in bridge financing for Hilliard Village, a 352-unit community in Columbus. JLL worked on behalf of the borrowers, Machine Investment Group and RH, to arrange the three-year, fixed-rate loan through The Bancorp Inc. Jamie Leachman, Medina Spiodic and Carter Wroblewski led the JLL Capital Markets Debt Advisory team representing the borrowers. Hilliard Village was originally built in 1973. Located at 3400 Twin Creeks Drive, the garden-style community is situated approximately 8 miles from Columbus’s downtown area. Units come in one-, two- and three-bedroom …

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Elowyn Townhomes in Denver
CaliforniaFinanceNewsWestern

JLL Capital Markets Arranges $51 Million Refinancing for Townhome Community in Denver

by Channing Hamilton

DENVER — JLL Capital Markets has negotiated a $51 Fannie Mae loan for the refinancing of Elowyn Townhomes, a 211-unit townhome-style community located at 4725 W Quincy Ave. in Denver. The property was built in 1975 on a 14.7-acre site and recently renovated in 2024.  Elowyn Townhomes offers two-story units in one- and two-bedroom layouts. Units feature semi-finished, full floor plate basements, backyard patios, stainless steel appliances and fireplaces. Amenities include a pool and spa, clubhouse, barbeque grills and a sauna. The property is currently 97 percent leased.  JLL worked …

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Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

MassDevelopment Provides $7.5 Million Bond Financing for Affordable Housing Conversion Project Near Boston

by Channing Hamilton

LYNN, MASS. — MassDevelopment has provided $7.5 million in tax-exempt bond financing for an affordable housing development located in the northeastern Boston suburb of Lynn. The project will convert the upper portion of a commercial building into a 24-unit community. Units will be reserved for formerly homeless adults between the ages of 18 and 24 who earn 30 percent or less of the area median income. Eastern Bank purchased the bond. The developer, nonprofit organization Harborlight Homes, will also utilize $6.4 million in federal low-income housing tax credits to finance …

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Affordable HousingFinanceInvestment SalesNewsTexas

Lument Provides $42.7 Million Acquisition Loan for Mixed-Income Community in Suburban San Antonio

by Channing Hamilton

BOERNE, TEXAS — Lument has provided a $42.7 million Freddie Mac agency acquisition loan for Estraya Boerne, a 288-unit mixed-income property in the northwestern San Antonio suburb of Boerne. Built in 2022, the community offers one-, two- and three-bedroom units. Half the units are subject to income restrictions, but details regarding these requirements were not disclosed. Amenities include a pool and a fitness center. James Kress of Lument originated the loan, which carries a 10-year term, fixed interest rate, 35-year amortization schedule and interest-only payments for the first five years.

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515 Parkwood Ave in Charlotte, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

JLL Capital Markets Secures $94 Million Financing for Project in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — JLL Capital Markets has arranged $25 million in joint venture equity and $69 million in construction financing for 515 Parkwood Ave, a 287-unit project located in the Mill District region of Charlotte. The complex will comprise 235,480 square feet across eight stories. Units will come in studio, one-, two-, three- and four-bedroom layouts. Planned amenities include a rooftop deck, courtyard, electric bikes, fitness center, shared dining area and coworking spaces. The property will also feature 2,945 square feet of ground-floor retail space. JLL worked alongside the developer, …

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