Finance

Pamela-Wilkes-Northmarq
Affordable HousingFinanceIndustry Voices

Affordable Housing Tax Changes: Understanding LIHTC, Bonds and Opportunity Zones

by Lynn Peisner

With the passage of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, Congress enacted the most significant expansion of housing incentives in more than two decades. For developers, investors and capital providers, this means new tools, more flexibility and a broader opportunity set.  At the heart of the legislation are updates to the Low-Income Housing Tax Credit (LIHTC) program, alongside permanent extensions to the Opportunity Zone (OZ) and New Markets Tax Credit (NMTC) incentives. Analysts estimate these changes could support the creation of up to 1.2 million …

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50-70-Columbus
FinanceNew JerseyNewsNortheast

JLL Arranges $340 Million ReFi of New Jersey Transit-Oriented Development

by Lynn Peisner

JERSEY CITY, N.J. — JLL Capital Markets and BlueGate Partners have arranged a $340 million refinancing loan on behalf of Ironstate Development Co. and Panepinto Properties. Truist Financial Corp. funded the loans. The joint venture owners will use the financing for 50 & 70 Columbus, two high-rise towers constructed in 2007 and 2015 respectively. The properties are atop the Grove Street PATH station with direct access to Manhattan. JLL’s Debt Advisory team, representing the borrower, was led by Thomas Didio, Thomas E. Didio Jr., Gerard Quinn and Michael Mataras.

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Peridot-Lounge
DevelopmentFinanceNewsTexas

CIM Group Provides $132 Million Loan for Phase II of Peridot in Dallas

by Lynn Peisner

DALLAS — Pacific Elm Properties has secured a $132 million loan to refinance Santander Tower, a Dallas high-rise that has been converted from an office building to a mixed-use community. A portion of the tower, known as Peridot, was converted to 291 units of multifamily in 2023. The new loan will support construction of the project’s second phase, which will add 105 additional apartments and bring the total Peridot offering to 396 residences upon completion. In addition to the Peridot apartments, the mixed-use Santander Tower offers the Mint House luxury …

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250-W-85th
FinanceInvestment SalesNew YorkNewsNortheast

Benchmark Group Secures $40 Million in Equity for Manhattan Acquisition

by Lynn Peisner

NEW YORK CITY — Walker & Dunlop has arranged approximately $40 million in equity for Benchmark Real Estate Group, which will use the funds to buy and renovate a property on Manhattan’s Upper West Side. Located about three blocks from Central Park at 250 W. 85th St., the building contains 121 units and 4,400 of fully leased retail space. The W&D Capital Markets team was led by Mo Beler, Jonathan Paine, Aaron Appel, Jonathan Schwartz and Jackson Irwin. An unnamed institutional investor provided the capital.

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Soleste-on-the-Trail
DevelopmentFinanceFloridaNewsSoutheast

Estate Cos. Secures $60 Million Loan to Build Soleste Property in Palm Beach County

by Lynn Peisner

RIVIERA BEACH, FLA. — The Estate Cos., a Miami-based developer known for its Soleste brand of communities, has secured a $60 million construction loan to build Soleste on the Trail in Riviera Beach. Located approximately five miles north of West Palm Beach and situated aside a lake, the community will be comprised of 255 one- and two-bedroom units. A completion date was not disclosed. Amenities will include a clubhouse, a resort-style pool with cabanas, outdoor barbecue areas, a fitness center with on-demand classes and a yoga studio, a full-service spa, …

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Spinnaker-apartments
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $15.7 Million Refinancing in Riviera Beach  

by Lynn Peisner

RIVIERA BEACH, FLA. — Berkadia has arranged a $15.7 million Freddie Mac loan for Rental Asset Management (RAM). Oakland Park, Florida-based RAM will use the funds to refinance Spinnaker Landing Apartments, a 123-unit workforce housing community in Riviera Beach, five miles north of West Palm Beach. Built in 1990 and located at 1931 W. 16th Court, Spinnaker Landing offers one-, two-, three- and four-bedroom units up to 1,420 square feet. The pet-friendly community includes a pool. Matthew Robbins, Hugo Hernandez, Mitch Sinberg, Scott Wadler and Brad Williamson led the Berkadia …

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Ravella-at-Sienna
FinanceNewsTexas

BridgeInvest Provides $40.5 Million Refinance in Suburban Houston

by Lynn Peisner

MISSOURI CITY, TEXAS — BridgeInvest has provided a $40.5 million refinancing loan to the owner of Ravella at Sienna, an offshoot of Orion RE Holdings and Sabal Investment Holdings. Ravella at Sienna is a 292-unit community in Missouri City, 22 miles southwest of downtown Houston. Way Capital arranged the loan. Amenities include a resort-style pool with cabanas, an outdoor gaming lounge with table tennis, a 24-hour fitness center, a dog park and pet spa, a social lounge with an entertainment kitchen and a conference room. The property was developed in …

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The-Olivia
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $58.3 Million ReFi for Miami-Suburb Property

by Lynn Peisner

HOMESTEAD, FLA. — Berkadia has arranged a $58.3 million Freddie Mac loan for Denver-based Grand Peaks Properties and Washington, D.C.-based Artemis Real Estate Partners. The two firms will use the funds to refinance existing debt on The Olivia in Homestead, located about 27 miles south of Miami. The joint venture owners acquired the property, developed in 2018, for $71 million in late 2021 in a Berkadia-brokered transaction. The Olivia sits on 3.4 acres at 14981 Southwest 283rd St. and offers 288 one-, two- and three-bedroom units and amenities such as …

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Residences-at-Plantation-Square
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

City of Plantation Grants MMG Equity Partners Approvals, Financing for Florida Mixed-Income Development

by Lynn Peisner

PLANTATION, FLA. — MMG Equity Partners has received site plan approval and $6 million in tax-increment financing (TIF) incentives from the City of Plantation for the development of Residences at Plantation Square. The project will include luxury apartments, workforce apartments and a new Bank of America building, all located within Plantation Square, a 10-acre mixed-use development in the Broward County city of Plantation, about 8 miles west of Fort Lauderdale. Residences at Plantation Square will include an eight-story residential building with 307 apartments and a six-story parking garage. Amenities include …

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URBY-Hoboken
DevelopmentFinanceNew JerseyNewsNortheast

PCCP Provides $162 Million Construction Loan for Hoboken Development

by Lynn Peisner

HOBOKEN, N.J. — Locally based Ironstate Holdings has secured a $162 million construction loan provided by PCCP for the development of Hoboken Urby, a 345-unit, transit-oriented development in Hoboken. Completion is slated for early 2028. The 16-story, 418,332-square-foot project will include 307 market-rate units, 38 affordable units and approximately 17,000 square feet of retail space, which will include a café. The site is less than a quarter of a mile from the Hoboken PATH train station. The unit mix will feature 29 studios, 220 one-bedrooms, 61 two-bedrooms and 35 three-bedrooms. …

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