FORT WORTH, TEXAS — Greystone has provided an $18.6 million Fannie Mae acquisition loan for The Residences of Diamond Hill in Fort Worth. John Williams of Greystone originated the loan, which features a 10-year term, 35-year amortization schedule and interest-only payments for the first five years. The borrower and seller were not disclosed. The Residences of Diamond Hill was built in 2003. The garden-style community consists of 204 units across 40 buildings. Apartments come in two-, three- and four-bedroom layouts. Amenities include a fitness center, pool, outdoor grilling and picnic …
BAY HARBOR ISLANDS, FLA. — Walker & Dunlop has brokered a $53.6 million loan for the construction of Clara Bay Harbor 100th, a 150-unit development in Bay Harbor Islands, 15 miles from Miami. Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Michael Ianno, Christopher de Raet and Marlon Robins of Walker & Dunlop secured the loan on behalf of the borrower. Located at 1145-1163 100th St., Clara Bay Harbor 100th is the second phase of a three-phase rental development by Clara Homes. Phase II will comprise 45 units. The developer …
STEAMBOAT SPRINGS, COLO. — JLL Capital Markets has arranged a $72.4 million construction loan for The Amble, a 42-unit project to be situated at the base of Steamboat Springs Ski Resort in Steamboat Springs. JLL worked on behalf of the borrower, East West Partners, to secure the financing through a regional bank.Leon McBroom, Mark Erland and Kevin Barron led the JLL Capital Markets Debt Advisory team. The Amble is located on a 1.6-acre site at 2300 Mount Warner Cir. The building will rise five stories. The property will feature 6,500 square feet …
DAVENPORT, FLA. — JLL has arranged a $69.6 million loan for the refinancing for Phase I of Atlantica at Town Center, a community located at 1121 Loblolly Lane in the Orlando suburb of Davenport. Gregory Nalbandian, Kenny Cutler and Josh Odessky of JLL arranged the two-year, floating-rate bridge loan through Timbercreek Capital on behalf of the borrowers, Sovereign Properties and Invest Capital Group. Phase I of Atlantica at Town Center, which was delivered in December 2022, comprises 360 units. The community features one-, two- and three-bedroom units ranging from 683 …
HALLANDALE BEACH, FLA. — Miami-based 13th Floor Investments has secured an $83 million construction loan for Parks at Hallandale, a 398-unit project underway in Hallandale Beach, approximately 12 miles south of Fort Lauderdale, Florida. Development is slated to complete in 2026. CIBC Bank USA provided the loan. Scott Wadler and Alec Fox of Berkadia also arranged an undisclosed amount of preferred equity from Houston-based Marble Capital. Situated on 15.5 acres, Parks at Hallandale will offer studio, one-, two- and three-bedroom market-rate and workforce housing units. Planned amenities include a clubhouse, …
WASHINGTON, D.C. AND MCLEAN, VA. — Mortgage financing firms Fannie Mae and Freddie Mac plan to impose stricter rules for commercial property lenders and brokers, according to a report from the Wall Street Journal. The new guidelines are part of an emerging regulatory crackdown on fraud. Federal prosecutors and investigators have been increasingly pursuing fraudulent mortgage schemes since 2022. The rules may come into effect later this summer. Under the new rules, lenders would have to “independently verify” the financial information of potential borrowers and verify their source of funds …
FORT WORTH, TEXAS — Greystone has provided an $18.6 Fannie Mae Delegated Underwriting & Servicing loan for the acquisition of The Residences of Diamond Hill, a 204-unit asset in Fort Worth. John Williams of Greystone originated the loan, which carries a 10-year term and 35-year amortization, with interest-only payments for the first five years. The borrower was not disclosed. The Residences of Diamond Hill was built in 2003 and comprises 40 buildings. The garden-style community offers two-, three- and four-bedroom layouts. Amenities include a fitness center, pool, outdoor grill and …
SAVANNAH, GA. — Berkadia has brokered $24.4 million for the refinancing of River Walk Savannah, a 220-unit property in Savannah. Located at 101 Saint George Blvd., the garden-style community was built in 1988. The asset offers one- and two-bedroom units. Amenities include a clubhouse, gated access, pickleball courts, pet park, pool and fitness center. Mitch Sinberg, Scott Wadler, Brad Williamson, Matthew Robbins and Hugo Hernandez of Berkadia’s South Florida office arranged the financing on behalf of the sponsor, Vantage Point Acquisitions. Freddie Mac purchased the loan, which carries a five-year …
MADISON, WIS. — A joint venture between Vermilion Development and Quartz Lake Capital has secured $95 million in debt and equity financing for a 309-unit development located at 1617 Sherman Ave. in Madison. JLL Capital Markets negotiated $33.3 million in joint venture equity for the project through Clarion Partners. 1617 Sherman will comprise six buildings featuring apartments and townhome-style units. The average unit size is 793 square feet. Community amenities will include a fitness center, bike storage, pet spa, coworking space, breakout rooms, community garden and a rooftop terrace featuring …
Austin has distinguished itself as one of the youngest markets in the nation, with a large portion of its population falling within the working-age bracket. Notably, individuals ages 25 to 34 comprise the largest segment of residents, making rental housing pivotal to support this demographic. Population growth was exacerbated during the COVID pandemic and in the years immediately following. Within a short timeframe, Austin experienced a substantial influx of residents, driven partly by the relocation of numerous well-known companies, such as Oracle, Google and Tesla. These organizations moved out of …