AUSTIN, TEXAS — BMC Capital has arranged $67.6 million in financing for a 300-unit project located in the greater Austin area. The name and address of the garden-style property, which was built in 2024, were not disclosed. The financing consists of a $53.5 million senior bridge loan and a $14.1 million preferred equity investment. Noah Laredo led the BMC Capital team on the placement of the financing, the debt component of which was structured with a three-year term and a 97 percent loan-to-cost ratio. The names of the direct lender, …
CHICAGO — Essex Capital Markets has arranged a refinancing for six-unit property located at 2216 West 21st Place in Chicago’s Pilsen neighborhood. The financing package includes a $795,000 fixed-rate bank loan with a 5-year term. Quinn Keenan of Essex Capital Markets arranged the loan on behalf of a local private investor. The property offers two-bedroom floor plans. The building underwent a significant renovation in 2023, including new kitchens and updated bathrooms.
AUSTIN, TEXAS — EMBREY has received financing for the construction of a 344-unit project in Austin. Texas-based Frost Bank provided the financing. The community will feature studio, one- and two-bedroom apartments. The first units are scheduled for delivery in the second quarter of 2027, with full completion slated for the second quarter of 2028. Residents will have access to a rooftop pool deck and clubhouse, fitness center, resident lounge with coworking facilities, game room, “grab and go” market, courtyard with a fireplace, outdoor kitchens, gaming lawns and a water feature. …
OVERLAND PARK, KAN. — Northmarq has secured a $52 million Freddie Mac loan for the refinancing of Stonebriar Woods, a 476-unit property in Overland Park, about 13 miles south of Kansas City, Missouri. The garden-style community features a mix of one-, two- and three-bedroom floor plans. Amenities include a pool, clubhouse, tennis court, fitness center and green space. Greg Duvall of Northmarq arranged the loan on behalf of the borrower, Price Brothers, a Kansas City-based real estate investment and development firm.
DENTON, TEXAS — Colliers Mortgage has provided a $55.9 million HUD-insured loan for the construction of Millennium Crest, a 245-unit project in Denton, about 40 miles northwest of Dallas. Millennium Crest will offer 20 studios, 155 one-bedroom units and 70 two-bedroom units. Planned amenities include a clubhouse, fitness center, pool, rooftop lounge and a dog park. Kevin Gould of Colliers Mortgage originated the debt, which carries a 40-year term and amortization schedule, on behalf of the developer, an entity doing business as Millennium Crest LP.
DENTON, TEXAS — Millennium Crest LP has secured a $55.9 million HUD loan for the construction and permanent financing of Millennium Crest Apartments, a 245-unit project in Denton, roughly 50 miles northwest of Dallas. Kevin Gould of Colliers Mortgage arranged the loan, which carries a 40-year term/amortization. Millennium Crest Apartments will offer a mix of 20 studio units, 155 one-bedroom units, and 70 two-bedroom units. Residents will have access to amenities such as a clubhouse, fitness center, pool, rooftop lounge with an outdoor deck and electric vehicle charging stations. Additional …
APPLETON, WIS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $10.4 million loan for the refinancing of Urbane115 Apartments, a 46-unit complex in Appleton, about 32 miles southwest of Green Bay, Wisconsin. The recently completed community offers a mix of studio to two-bedroom units. Robert Bhat of MMCC arranged agency financing on behalf of the private borrower. The five-year, nonrecourse loan features a 65 percent loan-to-value ratio and an interest rate of 6.1 percent.
DAVIE, FLA. — A joint venture between 13th Floor Investments and JSB Capital Group has obtained a $67.5 million construction loan for Parks at Davie, a 383-unit project in Davie, 25 miles north of Miami. Santander Bank provided the financing. Peter Mekras of Aztec Group advised the joint venture on the capitalization, which also included an undisclosed amount of preferred equity from Houston-based Marble Capital. Designed by Corwil Architects, Parks at Davie will offer studio, one-, two- and three-bedroom units ranging from 568 square feet to 1,415 square feet. Amenities …
NEW YORK CITY — A partnership between The Hudson Cos. and BRP Cos. has received $343 million in financing for Phase II of La Central, a 420-unit affordable housing development in the South Bronx. The second phase of La Central will encompass Building C, which will consist of 166 units across 13 stories, and Building E, a 26-story building that will feature 254 units. Development on Phase II is slated to complete in 2028. Apartments will come in one-, two, three- and four-bedroom floor plans. The buildings will be reserved …
EAU CLAIRE, WIS. — Marcus & Millichap Capital Corp. (MMCC) has secured a $10.1 million loan for the refinancing of Alto Station Apartments, an 88-unit building in Eau Claire, roughly 93 miles west of Minneapolis. The newly built community, which is located at 325 Main St., is pre-leasing now and is expected to open in 2026, according to the property’s website. The community features a mix of studio to two-bedroom floor plans. Amenities include a fitness center, clubhouse, rooftop terrace and bike storage. Robert Bhat of MMCC arranged the loan …