Finance

FeaturesFinanceFrom the MagazinesInvestment SalesMidwestNortheastSoutheastTexasWestern

As Mortgage Rates Drop, Expect 1031 Exchange Deals to Pop

by Channing Hamilton

For most of 2024, relatively high property values combined with rising interest rates priced buyers out of the market for new commercial and residential real estate acquisitions.  This slowdown has not only impacted investors and homeowners, but it’s also affected the entire real estate industry — from lenders to appraisers, brokers, law firms, title insurance companies and beyond.  Because Section 1031 exchange activity moves in lockstep with the real estate investment cycle, activity for qualified intermediaries has slowed as well. Section 1031 exchanges traditionally have been used by investors to …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Jasper
ColoradoDevelopmentFinanceNewsWestern

First Stone Development Secures $15.8 Million in Construction Financing for Denver Project

by Channing Hamilton

DENVER — First Stone Development has received $15.8 million in financing for the construction of The Jasper, a property located at 4353 Tennyson St. in Denver’s Berkeley neighborhood. The Jasper will offer 34 apartments and 2,700 square feet of street-level retail space. Phillip Gause and Jim Wilkins of Marcus & Millichap Capital Corp.’s Denver office worked on behalf of the borrower to secure $2 million in preferred equity and $13.8 million in debt. The construction loan was placed with a debt fund and features a two-year term.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsTexas

Sunrise Realty Trust Provides $46.5 Million in Financing for Dallas Property

by Channing Hamilton

DALLAS — South Florida-based Sunrise Realty Trust has provided $46.5 million in financing for The Boheme, a 352-unit building in Dallas. The Boheme is an eight-story building in the Bishop Arts District that was completed in 2023. San Antonio-based Kairoi Residential owns the community. The financing is part of a $62 million senior loan that the borrower will use to refinance the property. Apartments come in studio, one- and two-bedroom floor plans, according to Apartments.com. Shared amenities include a rooftop pool, coworking lounge with private meeting rooms, courtyards and a …

Continue Reading
0 FacebookTwitterLinkedinEmail
Coles Street Apartments
DevelopmentFinanceNew JerseyNewsNortheast

The Hekemian Group Secures Financing for 465-Unit Project in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — The Hekemian Group has secured financing for the construction of Coles Street Apartments, a 465-unit high-rise community in downtown Jersey City. Located at 305 Coles St., Cole Street Apartments will offer studio, one- and two-bedroom apartments. The average unit size will be 875 square feet. Residents will have access to amenities such as a rooftop pool and lounge, golf simulator, clubrooms, work lounges, a fitness center, concierge service and on-site garage parking. The development will also include 8,142 square feet of ground-level retail space. Thomas Didio, Thomas Didio Jr., Gerard …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceIllinoisMidwestNews

Newmark Arranges $110 Million Loan for Refinancing of Chicago Apartment Tower

by Channing Hamilton

CHICAGO — Newmark has arranged a $110 million loan for the refinancing of Cityfront Place, a 39-story apartment tower situated in the Streeterville neighborhood of downtown Chicago. The borrowers, Strategic Properties of North America and Mirae Asset Securities, acquired the 480-unit property in 2020. Cityfront Place features a mix of studio, one- and two-bedroom apartments. Residents have access to amenities such as a fitness center, indoor pool, rooftop terrace, resident lounge and indoor parking, as well as direct access to the Riverwalk. Strategic Properties of North America and Mirae Asset …

Continue Reading
0 FacebookTwitterLinkedinEmail
North Park Nest
CaliforniaFinanceNewsWestern

Naturally Affordable Housing Secures $10.1 Million Bridge Financing for San Diego Asset

by Channing Hamilton

SAN DIEGO — Locally-based Naturally Affordable Housing has received $10.1 million in construction takeout financing for North Park Nest, a 39-unit property located at 4233 Kansas St. in San Diego’s North Park neighborhood. The community features a mix of studio and one-bedroom apartments. The average unit size is 486 square feet. Amenities include a rooftop deck with a barbeque and lounge area. Brad Vansant and Ben Choromanski of JLL Capital Markets represented the borrower in arranging the short-term, floating rate bridge loan.

Continue Reading
0 FacebookTwitterLinkedinEmail
Azola Desert Ridge
ArizonaDevelopmentFinanceNewsWestern

ZOM Living Secures $88 Million in Financing for Project in Phoenix

by Channing Hamilton

PHOENIX — ZOM Living has secured financing for the development of Azola Desert Ridge, a 416-unit community in Phoenix. The funding includes $88 million in construction financing, as well as a joint venture equity investment from Origin Investments. Azola Desert Ridge will offer 416 units across multiple four-story buildings. The garden-style community will feature one-, two- and three-bedroom apartments ranging from 730 to 1,533 square feet. Amenities include a pool and deck, fitness center, dog park, pet grooming salon, glam room, podcast room, individual offices for residents and a self-service market …

Continue Reading
0 FacebookTwitterLinkedinEmail
6208 Eighth Ave.
DevelopmentFinanceNew YorkNewsNortheast

S3 Capital Provides $210 Million Construction Loan for Mixed-Use Development in Brooklyn

by Channing Hamilton

NEW YORK CITY — S3 Capital has provided a $210 million construction loan for a 28-story mixed-use project located at 6208 Eighth Ave. in the Sunset Park neighborhood of Brooklyn. Chicago-based Watermark Capital is the project’s sponsor. The company obtained the financing alongside its joint venture partner, Rubin Equities. Once completed, the development will consist of 497 apartment units and 100,000 square feet of retail space. Residents will have access to shared amenities such as a fitness center, rooftop terrace, bike storage, a yoga room, sauna, screening room and coworking spaces. The project is …

Continue Reading
0 FacebookTwitterLinkedinEmail
Astoria Cove
DevelopmentFinanceNew YorkNewsNortheast

S3 Capital Provides $300 Million Construction Loan for Mixed-Use Development in Queens

by Channing Hamilton

NEW YORK CITY — S3 Capital has provided $300 million in construction financing for the development of a mixed-use project located in the Astoria neighborhood of Queens. Henry Bodek of Galaxy Capital arranged the loan on behalf of KS Group and Alma Realty Corp., two developers based in Newark and Long Island City, respectively.  Upon completion, the development will comprise 731 apartments across one 26-story tower and three mid-rise buildings. The project will offer affordable housing units with the support of a 421a tax abatement, which provides a period of exemption from real …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsTexas

Sunrise Realty Trust Commits $46.5 Million for Refinancing of Property in Dallas

by Channing Hamilton

DALLAS — Sunrise Realty Trust Inc., a lender on the Tannenbaum Capital Group (TCG) Real Estate platform, has closed on a $46.5 million commitment to a $62 million senior loan for the refinancing of The Bohéme, a 352-unit community in Dallas. TCG Real Estate originated the loan. The remaining $15.5 million of the total loan is held by an affiliate on the TCG Real Estate platform. Kairoi Residential is the sponsor. The Bohéme was built in 2023. The community rises eight stories across from Lake Cliff Park within the Bishop …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.