Finance

247-Hancock
Affordable HousingDevelopmentFinanceNewsNortheast

M&T Provides $44.8 Million in Financing for Boston Mixed-Income Project

by Lynn Peisner

BOSTON — M&T Realty Capital Corp. has provided $44.8 million in funding for a 47-unit mixed-income development in the Dorchester neighborhood of Boston. Arx Urban and Boston Communities are the developers. Thirty-five units are designated affordable, which include 15 units supported by project-based vouchers. Rent restrictions were not disclosed. M&T’s financing package includes a $6.3 million Freddie Mac forward commitment, a $19.2 million construction loan and $19.3 million in tax credit equity. The 247 Hancock development will feature a six-story building with a mix of studios and one-, two- and …

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Aery-Hermantown-Minnesota
FinanceMidwestMinnesotaNews

CBRE Arranges Loan for Aery in Duluth, Minnesota

by Lynn Peisner

HERMANTOWN, MINN. — CBRE has arranged a $25.5 million Fannie Mae loan for P&R Cos. to refinance Aery, a 147-unit property in Hermantown, a western suburb of Duluth, Minn. CBRE’s Minneapolis-based team of Billy Mork, Mike Vannelli and Joel Torborg arranged the permanent, fixed-rate loan. Aery was developed in 2021 and features studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, pet spa, storage, an outdoor rooftop deck and patio areas with grilling stations.

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Karlyn
DevelopmentFinanceFloridaNewsSoutheast

Marcus & Millichap Arranges $91.4 Million in Construction Financing for Two Southwest Florida Projects

by Lynn Peisner

NAPLES, FLA. — Marcus & Millichap has arranged $91.4 million in construction financing for Plymouth, Minnesota-based Roers Cos. to build two projects in Naples. The properties are the 150-unit Vintana at Vanderbilt, located at 3375 Vanderbilt Beach Road, which is adjacent to The Ritz-Carlton, Naples golf course, and the 159-unit active adult community The Karlyn, which is located at 7576 Immokalee Road about four miles from Vintana at Vanderbilt. Both projects are slated for completion in 2027 and will feature high-end finishes and resort-style amenities. Marcus & Millichap’s New York City-based …

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Fiederlein-William
Affordable HousingDevelopmentFinanceIndustry VoicesVirginia

What Developers Need to Know About State Tax Credits

by Lynn Peisner

By William Fiederlein The need for affordable housing has never been greater. The United States is currently experiencing a shortage of millions of affordable housing units for low-income renters. This shortage disrupts family stability and creates a negative economic ripple effect within already vulnerable communities. According to the National Low Income Housing Coalition’s 2025 report, The Gap: A Shortage of Affordable Homes, there is a national shortage of 7.1 million affordable and available rental homes for extremely low-income renters. It nets out to just 35 affordable and available homes for …

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127-W-Pomona-The-Monroe
CaliforniaDevelopmentFinanceNewsWestern

Affinius Capital Originates $76 Million Loan to Refinance Project in Monrovia, California

by Lynn Peisner

MONROVIA, CALIF. — Affinius Capital has provided a $76 million loan to Adept Urban Development. An IPA team led by Stefen Chraghchian arranged the financing. The refinancing loan will cover debt on The Monroe, a to-be-delivered, 232-unit development in Monrovia, located about 20 miles northeast of Los Angeles. A construction timeline was not disclosed. The Monroe will offer 55 studios and 122 one-bedroom, 52 two-bedroom and three three-bedroom floor plans. Amenities will include a pool with cabanas, a fitness center, fireplace, grilling stations and an outdoor lounge area on the …

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Willamette-Tower-and-The-Olivia
FinanceNewsOregonWestern

JLL Arranges $169.7 Million ReFi for JV Owners of Two Portland Assets

by Lynn Peisner

PORTLAND, ORE. — JLL Capital Markets has arranged a $169.7 million, three-year bridge loan provided by TPG Real Estate Credit, the real estate finance arm of alternative asset management firm TPG. The borrowers are a joint venture between Alamo Manhattan and Diamond Realty Investments, and the funds will be put toward debt on Willamette Tower and The Olivia in Portland’s South Waterfront submarket. Willamette Tower, built in 2024, is a high-rise community that includes 340 units and 3,777 square feet of commercial space. The tower is currently 94 percent leased. …

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The-Alden-at-Cedar-Park
FinanceInvestment SalesNewsTexas

Newmark Arranges Sale, Financing in Austin Suburb

by Lynn Peisner

CEDAR PARK, TEXAS — Newmark has arranged the sale of and financing for The Alden at Cedar Park, a 349-unit property in the Austin suburb of Cedar Park, located about 22 miles north of downtown. Newmark represented the undisclosed seller and procured the buyer, Weidner Apartment Homes. This transaction marks the Kirkland, Washington-based company’s first acquisition in the Austin MSA.  Newmark arranged a Fannie Mae acquisition loan for Weidner. Developed in 2020, The Alden at Cedar Park is a four-story community comprised of one- and two-bedroom floorplans. Amenities include a …

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Blue-Hill-Watchung
DevelopmentFinanceNew JerseyNewsNortheast

JV Developers Lock in Financing for $102.9 Million Somerset County Project

by Lynn Peisner

WATCHUNG, N.J. — JLL Capital Markets has arranged construction debt and equity for developers building Blue Hill at Watchung, a $102.9 million community in Watchung, 30 miles west of Manhattan. Completion is slated for 2026. The Sterling Properties Group and Danbro Properties are the developers. The property benefits from a 30-year PILOT (payment in lieu of taxes) agreement with the Borough of Watchung. PILOT agreements are government-sponsored incentives for developers to build housing, whereby the property owner pays an agreed-upon annual fee to a municipality versus traditional yearly property taxes. …

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Adela-at-Mimo-Bay
FinanceFloridaNewsSoutheast

ACRE Lands $72 Million ReFi Loan for Miami Asset

by Lynn Peisner

MIAMI — ACRE has secured a $72 million refinancing loan for Adela at MiMo Bay, a 236-unit, waterfront community in Miami. JLL Capital Markets arranged the financing. Adela at MiMo Bay was developed in 2020 and features a range of studios and one-, two- and three-bedroom units with quartz countertops, stainless steel appliances and floor-to-ceiling windows. ACRE is planning to add 14 additional units and to upgrade amenity offerings. These renovations are expected to begin in September with completion slated for 2026. ACRE, a private equity firm that invests in …

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Foxen multifamily panel
FeaturesFinanceIndustry ContentMidwestNortheastOperationsSoutheastTechnologyTexasWebinarWestern

Webinar: From Sunk Costs to Strategic Savings — Risk and Insurance Plays to Strengthen Your Multifamily Portfolio

by Sarah Daniels

The August 6 webinar “From Sunk Costs to Strategic Savings — Risk and Insurance Plays to Strengthen Your Multifamily Portfolio,” sponsored by Foxen, explored practical ways for multifamily owners and operators to address one of their largest cost concerns in 2025: insurance.  Industry experts detailed the risks of tenant-caused property damage, the operational challenges of monitoring renters insurance and the benefits of structured compliance programs. Viewers learned about property damage liability waiver programs and tenant legal liability (TLL) policies in protecting owners from uninsured losses. The panel also discussed the …

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