KANSAS CITY, KAN. — Northmarq has hired Joe Heinzler as vice president to the firm’s Kansas City debt and equity team. In this role, Heinzler will facilitate debt and equity placements for investors and lenders including Freddie Mac, Fannie Mae, life insurance companies and banks. He will work alongside Senior Vice President Greg Duvall and Vice President John Duvall. Before joining Northmarq, Heinzler spent two years as a commercial relationship manager with North American Savings Bank. Prior to this, he an office broker with Kessinger Hunter & Co. He received …
NEW YORK CITY — Merchants Capital has provided $320 million in financing for the renovation of Edenwald Houses, an affordable housing complex in The Bronx borough of New York City. The property was originally developed in the 1950s and is the second largest New York City Housing Authority property in the state. Edenwald Houses is currently home to more than 5,000 residents. Merchants Capital secured a New York Housing Development Corp. Freddie Mac Risk Share Loan on behalf of the property developer, Camber Property Group. The funds will be used …
ST. PETERS, MO. — TWG has broken ground on Reserve at Spencer, a $42.9 million affordable community in St. Peters. Reserve at Spencer will offer 192 units across four stories. Apartments will be affordable to tenants earning less than 60 percent of the area median income. Amenities include a community lounge and clubhouse, kitchenette, playground, dog park, fitness center, co-working spaces and package rooms. CREA, LLC, Merchants Bank, UMB Bank, and the Missouri Housing Development Commission are partners on the project. The Industrial Revenue Authority of St. Charles County provided bond financing. …
PHOENIX — Milhaus and Banyan Residential have broken ground on a $117 million development on the southwest corner of 48th St. and Washington St. in Phoenix. The first phase of the 515-unit community is slated for completion in the fourth quarter of 2025. Units will come in studio, one-, two- and three-bedroom layouts. Amenities will include two clubhouses, pools, a fitness center, green spaces and a dog park. UMB provided a $63.3 million construction loan for the project, with syndication by First Merchants and Academy Bank.
ATLANTA — Greystone Monticello has provided a $60.2 million bridge loan and an $8 million mezzanine loan to refinance The Irby, a high-rise building in Atlanta’s northern Buckhead district. Greystone Commercial Capital originated the financing. The Irby was built in 2020 and is owned by an affiliate of Lone Star Funds. The property comprises 277 apartments across twelve stories, as well as 15,000 square feet of retail space. Units come in studio, one- and two-bedroom floor plans. Amenities include a pool, courtyard with fire pit and grilling station, an athletic …
JERSEY CITY, N.J. — JLL has arranged a $193 million loan for the construction of Pathside, a 605-unit high-rise community in the New York City suburb of Jersey City. The property will be built in Jersey City’s Journal Square neighborhood. Pathside will feature studio, one-, two- and three-bedroom apartments, as well as 3,200 square feet of ground-floor commercial space. The borrower, Panepinto Properties Inc., plans to deliver Pathside in the second quarter of 2026. Thomas Didio, Thomas Didio Jr., Gerard Quinn and Salvatore Buzzerio of the debt advisory team at JLL …
SAN JOSE, CALIF. — Urban Catalyst has launched a new fund, UC Multifamily Equity I LLC (UCME), focused on the development of a 272-unit building in San Jose. The property, called Aquino, will offer studio, one-, two-, and three-bedroom apartments. Amenities will include private co-working offices, a bar and lounge, a fitness center with a yoga studio, a dog run and a courtyard. Urban Catalyst has structured UCME as a real estate operating company, which allows it to accept funding from qualified retirement accounts such as IRAs and 401(k) plans.
SAN DIEGO — JLL Capital Markets has arranged $28 million in construction take-out financing for Casa Verde, a 94-unit community in San Diego’s North Park neighborhood. Olga Walsh and Jack Wood of JLL led the team that secured the non-recourse floating-rate bridge loan on behalf of the borrower, Champion Real Estate Investments. The new loan retired a high-leverage construction loan, covered transaction costs and carry reserves, and provided significant cash out to the sponsor while allowing sufficient time for stabilization in anticipation of permanent financing. Casa Verde offers studio and one-bedroom …
COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. has secured $67 million in low-income housing tax credits (LIHTC) to support the financing for five affordable housing communities in the Southeast and Midwest U.S. The North Carolina Housing Finance Agency allocated $1.2 million to Pender Crossing, a 48-unit development to be built in Wilson, North Carolina. Pender Crossing will offer one-, two- and three-bedroom units across three buildings. TightLines Designs, headquartered in Raleigh, North Carolina, is the architect for the development. Woda Cooper is partnering with the Keweenaw Bay Indian Community to …
LAKE WORTH, FLA. — Meyers Accesso has secured $46.2 million in construction financing for the development of Avery Lake Worth, a 200-unit community in Lake Worth. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach debt and equity team arranged the financing through a life insurance company. The lender provided financing with an additional mezzanine loan structure. Avery Lake Worth will comprise two buildings on a 5-acre site. Units will come in studio, one- and two-bedroom layouts. Amenities will include gated access, a clubhouse, fitness center, pool with …