Finance

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FinanceFloridaLouisianaNewsNorth CarolinaSoutheast

Hathaway Secures $153.3 Million ReFi for Three Sun Belt Properties

by Lynn Peisner

ATLANTA — Walker & Dunlop has arranged $153.3 million in loans for Hathaway Development. The Atlanta-based owner/developer will use the proceeds to refinance three garden-style properties: Exchange at Juban in Denham Springs, Louisiana, Exchange at Blair Stone in Tallahassee, Florida, and Exchange at Indian Trail, in Indian Trail, North Carolina. Walker & Dunlop’s Stephen Farnsworth, Hanes Dunn and Robert Henry arranged the floating-rate loans through lender ACRES Capital. The three communities were developed by Hathaway and combined include 876 units. Exchange at Juban, a 264-unit property in Denham Springs was …

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FinanceFloridaInvestment SalesNewsSoutheast

JLL Arranges $53.3 million in Acquisition Financing for Pompano Beach Property

by Lynn Peisner

POMPANO BEACH, FLA. — JLL has arranged a $53.3 million Freddie Mac acquisition loan on behalf of Miami-based Advenir Azora, which has acquired Avenir at Lighthouse Point. The property was built in 2015 and consists of a six-story building with one-, two- and three-bedroom units averaging 887 square feet. Amenities include a rooftop lounge with ocean views, a resort-style pool, a 24-hour fitness center and a parking garage. Advenir at Lighthouse Point was 95 percent occupied at the time of sale. The seller was not disclosed. JLL’s Jesse Wright, JJ …

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Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Berkadia Arranges $32.4 Million Loan for The Stagg Group

by Lynn Peisner

NEW YORK CITY — Berkadia has arranged a $32.4 million Freddie Mac construction take-out loan on behalf of The Stagg Group. The affordable housing developer, owner and investor will use the funds to retire the existing construction loan on The Riverdale Tower. The 89-unit property is 100 percent occupied. Berkadia’s Matt Nihan arranged the financing. Located at 3745 Riverdale Ave., The Riverdale Tower was completed in 2024 and is an 18-story high-rise offering a mix of studio, one- and two-bedroom units ranging from 400 to 900 square feet. The property …

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DevelopmentFinanceFloridaNewsSoutheast

13th Floor, Key International Break Ground on $79.2 Million Project in Delray Beach, Florida

by Lynn Peisner

DELRAY BEACH, FLA. — South Florida-based developers 13th Floor Investments and Key International, in partnership with CDS International Holdings and Wexford Capital, have broken ground on Skye, a 327-unit community in Delray Beach. The project is being financed with a $79.2 million construction loan from CIBC Bank USA. Skye represents the second residential phase of the joint venture’s 50-acre Parks at Delray mixed-use development and follows the completion and lease-up of Savio, which delivered 420 apartments earlier this year. With construction now underway, Skye is slated for completion in 2027. …

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The-Aries-Columbus
Affordable HousingDevelopmentFinanceMidwestNewsOhio

Merchants Capital Secures $152.3 Million for Affordable Housing Development in Suburban Columbus, Ohio

by Lynn Peisner

WHITEHALL, OHIO — Merchants Capital has secured $152.3 million in financing for the construction of The Aries Lofts, a 315-unit affordable housing community LDG Development is building in Whitehall, located about 8 miles east of downtown Columbus, Ohio. The financing package includes a $42.7 million Freddie Mac permanent loan, a $60 million tax-exempt construction loan, an $8 million equity bridge loan provided by Merchants Bank and $41.6 million in 4 percent Low-Income Housing Tax Credit (LIHTC) equity. Upon completion, which is estimated to be 2027, The Aries Lofts will offer …

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CEI-Hillcrest-Antioch
Affordable HousingCaliforniaCompany NewsDevelopmentFinanceFloridaInvestment SalesNewsNorth CarolinaNortheastSouth CarolinaSoutheastWestern

CEI Launches Affordable Housing Investment Partnership

by Lynn Peisner

LOS ANGELES — Los Angeles-based developer Cypress Equity Investments (CEI) and an unnamed Florida-based investment firm have partnered to build or acquire approximately $1.2 billion worth of affordable housing communities. The venture is being launched with 11 ground-up projects that are already in place in California and Florida. Target markets for future opportunities include the Carolinas, Tennessee, Texas and some markets in the Northeast. Some of the deal characteristics CEI is seeking will include communities with on-site resident services, developments that partner with nonprofits and acquisitions of other existing institutional …

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Company NewsFinanceMidwestNews

Peakhill Capital Acquires Venture Capital Mortgage

by Lynn Peisner

TORONTO AND MINNEAPOLIS — Toronto-based commercial investment and lending firm Peakhill Capital has acquired Minneapolis-based commercial banking firm Venture Capital Mortgage. Financial terms of the transaction were not disclosed. According to Peakhill, the merger represents an expansion of business in the United States, specifically an increase in bridge and life correspondent lending, joint venture equity platforms and access to a broadened borrower base across multifamily, office, retail and industrial sectors. Double Peak Advisors represented Peakhill in the transaction.

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ColoradoFinanceFloridaNewsSoutheastTexasWestern

Walker & Dunlop Arrange $192 Million ReFi for Cortland

by Lynn Peisner

BETHESDA, MD. — Walker & Dunlop has arranged a $192 million Freddie Mac loan on behalf of Cortland, an Atlanta-based investment, development and property management firm. Cortland will use the funds to refinance mortgages of three properties: Cortland at the Hammocks I and II in Miami, Huntington Glen in Dallas and Cortland Congress Park in Denver. Together, the properties comprise 1,137 units. Across all three assets, Cortland has executed a capital improvement program, investing in interior and exterior upgrades to reposition the communities. The Walker & Dunlop capital markets team was …

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Build-to-RentFinanceMidwestMinnesotaNews

Interstate Development Refinances Twin Cities BTR Project with $34.3 Million Loan

by Lynn Peisner

WOODBURY, MINN. — Northmarq’s Minneapolis-based team has arranged the $34.3 million refinancing, in the form of a Fannie Mae loan, of Acclaim of Woodbury, a 109-unit build-to-rent community located at 10108 Sunbird Circle in Woodbury, about 9 miles from St. Paul, Minnesota. Interstate Development, the sponsor, completed the project earlier this year. Homes are available with two, three or four bedrooms complemented by shared amenities such as lawncare, snow removal services and a 24-hour fitness center.

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FinanceInvestment SalesNewsNorth CarolinaSoutheast

Mesa West Provides Loan for JV’s Charlotte Acquisition

by Lynn Peisner

CHARLOTTE, N.C. — Mesa West Capital has provided a joint venture between Hillridge Capital and Broad Creek Capital with a $69.8 million first mortgage loan for the acquisition and renovation of Loft One35 in Charlotte’s South End neighborhood. The total acquisition cost was $94 million, according to the Charlotte Business Journal. Loft One35 is a 298-unit, six-story community that offers a mix of loft-style apartments as well as townhomes. Amenities include a resort-style pool, a courtyard with a fire pit and grilling stations, a pet spa, a coffee bar and …

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