Finance

Le Noble Apartments in Los Angeles
CaliforniaFinanceNewsWestern

MMCC Negotiates $16.8 Million for Refinancing of Le Noble Apartments in Los Angeles

by Channing Hamilton

LOS ANGELES — Marcus & Millichap Capital Corp. (MMCC) has arranged $16.8 million for the refinancing of Le Noble Apartments, a 46-unit property located at 5768 W. 3rd St. in Los Angeles. The community features elevators, a dog park, courtyard and fitness center that is currently under construction. Units include balconies, as well as washers and dryers. Dan Litman of MMCC secured the financing with a national bank on behalf of a local commercial brokerage firm that specializes in sales, leasing and management of multifamily and commercial properties located in Los …

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Old Town Square in Pompano Beach, Florida
FinanceFloridaNewsSoutheast

Adache Secures $59 Million Loan for Refinancing of Property in Pompano Beach, Florida

by Channing Hamilton

POMPANO BEACH, FLA. — Adache Real Estate has received a $59 million loan for the refinancing of Old Town Square, a 281-unit property located at 200 N.E. 1st Ave. in Pompano Beach. Built in 2024, the mid-rise community offers studio, one- and two-bedroom units. Amenities include a pool with a hot tub, kitchen with barbecue grills, gaming deck, fitness center, sauna, coworking lab, community bicycles, on-site mini market and a dog run. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach office arranged the loan through an undisclosed …

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FinanceFloridaNewsSoutheast

NewPoint Provides $50 Million Loan to Refinance Community Near Tampa, Florida

by Channing Hamilton

PLANT CITY, FLA. — NewPoint Real Estate Capital LLC has provided a $50 million lease-up bridge loan to Hillpointe LLC for the refinancing of Pointe Grand Plant City, a 300-unit asset located in Plant City, approximately 24 miles east of Tampa, Florida. Trevor Ritter of NewPoint originated the two-year, floating rate, interest-only loan. Pointe Grand Plant City consists of 10 three-story buildings that house two-bedroom units. Shared amenities include a pool, fitness center, clubhouse with coffee and tea bar, business center with conference room, picnic area with barbecue grills, community …

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Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Brisa Builders, PMG Affordable Secure $51.7 Million in Financing for Queens Affordable Housing Project

by Channing Hamilton

NEW YORK CITY — Brisa Builders Development LLC and PMG Affordable have secured $51.7 million in financing for 19-19 Cornaga Ave., a 92-unit affordable housing project located in the Downtown Far Rockaway Special Purpose District in Queens. The financing package includes: Additionally, the developers are leveraging roughly $21.4 million in low-income housing tax credit (LIHTC) equity syndicated by Enterprise, $2.3 million in state LIHTC equity and $41,000 in solar tax credit equity. BWE is providing permanent financing through Freddie Mac. 19-19 Cornaga Ave. will offer a mix of studio, one- …

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CaliforniaDevelopmentFinanceNewsWestern

IPA Arranges $60.9 Million in Financing for 28.9-Acre Redevelopment Project in Huntington Beach, California

by Channing Hamilton

HUNTINGTON BEACH, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $60.9 million in financing for a 28.9-acre redevelopment project in Huntington Beach. Gary Mozer of IPA secured the 18-month, nonrecourse loan on behalf of an undisclosed California-based investment and development firm. The borrower plans to develop a residential and hospitality property, which was approved by the Huntington Beach City Council, on the site. The property will feature a 50-unit affordable housing community, with 25 units to be rented to hotel workers employed onsite and nearby. The …

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Diamond District in Richmond, Virginia
DevelopmentFinanceNewsSoutheastVirginia

Economic Development Authority in Richmond, Virginia, Sells 18-Acre Site for $2.4 Billion Mixed-Use Project

by Channing Hamilton

RICHMOND, VA. — The City of Richmond’s Economic Development Authority (EDA) has sold and transferred an 18-acre parcel to the developer of a $2.4 billion mixed-use project called Diamond District. The land sold for $11.4 million. The developer is an entity led by Thalhimer Realty Partners Inc. that is doing business as Diamond District Partners LLC. The site, dubbed Phase 1A, will feature 730 market-rate apartments, as well as 161 workforce housing units for households earning up to 60 percent of the area median income, a 180-room hotel and 30,000 …

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4301 Vermont in Los Angeles
CaliforniaDevelopmentFinanceNewsWestern

SoLa Secures $34.8 Million Construction Loan for Affordable Project in Los Angeles

by Channing Hamilton

LOS ANGELES — SoLa has received a $34.8 million construction loan for 4301 Vermont, an affordable housing development in Los Angeles. Located at 4301 Vermont Ave., the five-story property will offer 188 units. Approximately 80 percent of the units will be designated for low-income residents, while 20 percent will be reserved for moderate-income residents. The project will feature prefabricated modular units supplied by Model Z, a subsidiary of SoLa Impact. Chris Montes of Walker & Dunlop secured the loan on behalf of the client. The lender was ACORE Capital.

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63-67 Wall Street in New York City
FinanceNew YorkNewsNortheast

Apollo Global Management Provides $275 Million Loan for Refinancing of 816-Unit Asset in Lower Manhattan

by Channing Hamilton

NEW YORK CITY — Apollo Global Management has provided a $275 million loan for the refinancing of 63-67 Wall Street, an 816-unit complex consisting of two buildings in Lower Manhattan. Units come in studio, one and two-bedroom floor plans. Amenities include a fitness center, rooftop terrace with a lounge and grilling stations, game room, golf simulator, library, children’s playroom and business center. The buildings were originally constructed for office use: 67 Wall Street was built in 1921 as the headquarters for the Munson Shipping Co., while 63 Wall Street was completed …

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Brooklyn & Church in Charlotte, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

Joint Venture Secures Construction Financing for Office-to-Residential Conversion Project in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — A joint venture comprising MRP Realty, Asana Partners and Rockefeller Group has received construction financing for Brooklyn & Church. The project will convert the former Duke Energy headquarters, located at 526 S. Church St. in Charlotte, into a 460-unit community with 57,000 square feet of retail space. The Duke Energy headquarters was originally built in 1975. MRP Realty and Asana Partners acquired the building in 2022. The building’s core and shell will be preserved, but the façade will be reskinned with new windows and balconies. Once converted, …

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Starling in Jersey City, New Jersey
FinanceNew JerseyNewsNortheast

Alpine Residential Secures $81.2 Million Loan for Refinancing of Two Assets in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — Alpine Residential has received $81.2 million in financing for Atlas and Starling, two properties located in the Bergen-Lafayette section of Jersey City. Thomas Didio, Thomas Didio Jr. and Michael Mataras of JLL Capital Markets originated the two five-year, interest only fixed-rate Freddie Mac loans. The proceeds will be used to take out the existing construction loans, which were also arranged by JLL. Located at 270 Johnston St., Atlas comprises 169 apartments, including 11 affordable units. The community was built in 2025. Starling is located at 66 Monitor St. and offers …

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