Finance

Alexander-Crossing-Yonkers
FinanceNew YorkNewsNortheast

Walker & Dunlop Arranges $116 ReFi for Yonkers Property

by Lynn Peisner

YONKERS, N.Y. — Walker & Dunlop has arranged a $116 million Fannie Mae loan to refinance Alexander Crossing in Yonkers. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno, Sean Bastian and Jack Krentzman arranged the five-year, fixed-rate loan for New York City-based Rose Associates and joint venture partner Battery Global Advisors, an asset manager headquartered in Boston. Alexander Crossing is a seven-story, 440-unit building comprised of studio through three-bedroom layouts, including 44 apartments designated affordable. Rent restrictions were not publicly available. The community is …

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Woven-Greenville
Affordable HousingDevelopmentFinanceNewsSouth CarolinaSoutheast

Woodfield, FRP Secure Financing, Launch Construction of Mixed-Use Project in West Greenville

by Lynn Peisner

GREENVILLE, S.C. — FRP Development Corp. and Woodfield Development are underway with construction of Woven, a mixed-use project in the Village of West Greenville. Known locally as simply The Village, this neighborhood is home to some of the city’s historic mills and has been redeveloping since the early 2000s into an arts, small-business and entertainment area. Woven, located at 1279 Pendleton St., will anchor the western edge of the neighborhood and will include 214 one-, two- and three-bedroom units offered at market and affordable rates. Specific affordable restrictions were not …

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Lackawana-Place-Morristown
Affordable HousingDevelopmentFinanceNew JerseyNewsNortheast

CBRE Arranges $40 Million Construction Loan for New Jersey Mixed-Income Project

by Lynn Peisner

MORRISTOWN, N.J. — CBRE has arranged a $40 million construction loan on behalf of a developer doing business as Lackawanna Place Morristown Urban Renewal LLC. The loan will fund the development of Morristown Station, a transit-oriented, mixed-income community adjacent to the Morristown stop on the New Jersey Transit System’s train with service to Newark, Hoboken and Manhattan. Morristown is 35 miles west of New York City. Truist Bank was the lender. The community will feature a mix of 76 market-rate and 13 affordable units and 5,111 square feet of ground-floor …

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111-Wall-NYC
DevelopmentFinanceNew YorkNewsNortheast

Walker & Dunlop Arranges $867 Million for Office-to-Residential Conversion in Manhattan’s Financial District

by Lynn Peisner

NEW YORK CITY — Walker & Dunlop has arranged $867 million in financing for an office-to-residential conversion project at 111 Wall Street in Lower Manhattan’s Financial District. The package consists of a $778.6 million construction loan with Apollo Global Management, J.P. Morgan Chase & Co. and TYKO Capital serving as lenders. Walker & Dunlop also advised on the extension of an existing $88.4 million C-PACE loan from Petros that remained in the capitalization. Walker & Dunlop’s team was led by Dustin Stolly, Aaron Appel, Adam Schwartz, Keith Kurland, Jonathan Schwartz, …

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Bonsai-Apartments-DC
BerkadiaFinanceNewsNortheastWashington, D.C.

Berkadia Arranges $9.5 Million Refinancing for July Residential’s Bonsai Apartments in D.C.

by Lynn Peisner

WASHINGTON, D.C. — Berkadia has arranged a $9.5 million refinancing loan for July Residential’s Bonsai Apartments, a newly constructed, 41-unit community in Washington, D.C.’s H Street corridor. The lender was Revere Capital, which provided a two-year floating-rate loan. Berkadia’s Mitch Sinberg, Matt Robbins, Scott Wadler and Brad Williamson of Berkadia Boca Raton and Miami, alongside Brian Gould of Berkadia D.C. Metro, arranged the financing. The transaction closed on Dec. 29. July Residential is headquartered in New York City with offices in Washington, D.C., and Boca Raton, Florida. The owner-operator’s portfolio …

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Affordable HousingCompany NewsFinanceMarylandNew YorkNewsNortheast

Walker & Dunlop, Pretium Launch Affordable Housing Bridge Lending Venture

by Lynn Peisner

BETHESDA, MD., NEW YORK CITY — Walker & Dunlop and Pretium have launched a $250 million joint venture to provide financing for affordable housing. The new group, known as Walker & Dunlop Affordable Bridge Capital, will originate flexible, short-term first-mortgage bridge loans for properties that are being acquired, refinanced or prepared for long-term government programs such as LIHTC, Section 8 or tax-exempt bonds. The joint venture will offer flexible, interest-only bridge financing with loan sizes ranging from $10 million to $75 million and terms between six and 36 months.

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Montreux-Phoenix
ArizonaFinanceNewsWestern

PCCP Provides $84 Million Refinancing Loan to Pacific Development Partners

by Lynn Peisner

PHOENIX — PCCP has provided an $84 million senior loan to Los Angeles-based Pacific Development Partners for the refinancing of Montreux, a 335-unit community in Phoenix. The three-building property was developed in 2019 and is approximately 89 percent leased. The financing was arranged by James Bach of CBRE. Montreux’s units are offered in one-, two- and three-bedroom floor plans. Amenities include two pools, a fitness center, a rooftop clubhouse, pickleball and tennis courts, a game room with a multi-sport simulator and parking.

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Skylar-Ridge-Hoover
AlabamaFinanceNewsSoutheast

Westside Capital Group Refinances Skylar Ridge in Hoover, Alabama

by Lynn Peisner

HOOVER, ALA. — Westside Capital Group is refinancing Skylar Ridge, a 140-unit property in Hoover, with a $21.8 million loan arranged by JLL. Crestline Investors was the lender. The owner has completed a renovation that updated the clubhouse with a new fitness center. Other improvements include a new pool deck and dog parks. Following the $2.5 million redevelopment, Westside Capital Group has increased rents by 21 percent on leases signed in the third quarter of 2025. The occupancy rate in May 2024 was 60 percent and had risen to 97 …

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Renova-West-Bronx
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Gilbane Secures Financing for $193 Million Bronx Affordable Housing Development

by Lynn Peisner

NEW YORK CITY — Gilbane Development and several project partners have closed on financing for Renova West at 860 Concourse Village East in the Morrisania neighborhood in the Bronx. The $193 million project encompasses a 19-story mixed-use affordable housing development along with a new 7,000-square-foot ICL Bronx Health Hub, which provides physical and behavioral health care. Development partners include the Institute for Community Living (ICL), Tredway, New York City’s Department of Housing Preservation and Development (HPD) and Housing Development Corp. (HDC). The capital stack is comprised of debt and equity …

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Brickell-Starlite-Miami
DevelopmentFinanceFloridaNewsSoutheast

JV Receives $250 Million Construction Loan to Build Miami Tower

by Lynn Peisner

MIAMI — Focus, a Chicago-based developer, and Group Fox, an investment and property management company also out of Chicago, have received a $250 million construction loan to build Brickell Starlite in Miami. Affinius Capital was the lender. Cushman & Wakefield arranged the financing. Brickell Starlite is a to-be-built, 39-story, 517-unit luxury property in Miami’s Brickell submarket on the site of the former Starlite Motel. Units will be offered as studio, one-, two- and three-bedroom layouts with 5 percent of the units designated for workforce housing. The development will feature amenities …

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