Finance

Ocean-Park-Apartments-Queens
Affordable HousingFinanceNew YorkNewsNortheast

Merchants Bank Provides $60 Million for Queens Affordable Housing Preservation, Redevelopment

by Lynn Peisner

NEW YORK CITY — Merchants Bank has provided a loan totaling approximately $60 million for Tredway, a Manhattan-based affordable housing investment and development firm, to renovate and to preserve affordability at Ocean Park Apartments in the Queens’ neighborhood of Far Rockaway. Merchants Capital arranged the financing. Tredway acquired the asset earlier this year, at which time the company entered into a new regulatory agreement with New York’s Department of Housing Preservation & Development to rent stabilize the property and set rent caps for tenants earning no more than 60 to …

Continue Reading
0 FacebookTwitterLinkedinEmail
Villas-de-la-Montana
ArizonaFinanceNewsWestern

GDL Secures $22.6 Million ReFi for Tucson Asset

by Lynn Peisner

TUCSON, ARIZ. — GDL Asset Management has secured a $22.6 million loan, arranged by JLL Capital Markets, to refinance existing debt on Villas de la Montana in Tucson. The 332-unit community was built in 1988 and features a mix of studios and one-, two- and three-bedroom floor plans. Since acquiring the asset in 2021, GDL has completed renovations across the property, including new cabinetry, plumbing fixtures, hardware, countertops and flooring in the units. The owner also has completed exterior upgrades to common and pool areas, landscaping, signage and parking lots. …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Victor-Dallas
FinanceNewsTexas

Northmarq Arranges $129.7 Fannie Mae Loan for Dallas Joint Venture

by Lynn Peisner

DALLAS  — Northmarq has arranged a $129.7 million Fannie Mae loan for Hines and Diversified Real Estate Capital. The joint venture investors will use the loan to pay existing debt on The Victor, a 344-unit high-rise that was completed in 2022 in the Victory Park neighborhood of Dallas. Northmarq’s Chicago debt and equity team, led by Kevin McCarthy, Jeff Frankel and Alex Czachor, arranged the fixed-rate loan.

Continue Reading
0 FacebookTwitterLinkedinEmail
Village_on_Spring_Mill
FinanceGeorgiaIndianaKentuckyMidwestNewsOhioSoutheast

Buckingham Cos. Lands $330 Million Loan for Seven-Property Portfolio

by Lynn Peisner

INDIANAPOLIS — Indianapolis-based investor Buckingham Cos. has received a $330 million loan to refinance seven properties in five states. The New York-based CBRE Debt & Structured Finance team of Shawn Rosenthal, Jason Gaccione, Tom Traynor, Tom Rugg, Jake Salkovitz, Henry Fenmore, Lauren Weinstein and Justin Helbling arranged the floating-rate loan funded by Goldman Sachs and Atlas SP Partners. Buckingham’s portfolio comprises 2,381 units. The firm began acquiring the properties, which were constructed between 1982 to 2021, seven years ago and has invested approximately $45 million in capital improvements since then, …

Continue Reading
0 FacebookTwitterLinkedinEmail
WynwoodHaus
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $56 Million Fannie Mae ReFi for Miami High-Rise

by Lynn Peisner

MIAMI — Berkadia has arranged a $56 million Fannie Mae loan on behalf of a joint venture partnership that is refinancing Wynwood Haus, a 224-unit, 20-story community developed in 2024 in Miami’s Wynwood neighborhood. The joint venture owners are LD&D, IGEQ, Black Salmon and Bridge Investment Group. The deal closed on July 21, at which time the property was 94 percent occupied. Wynwood Haus offers studios, one- and two bedroom-units and 6,824 square feet of ground-floor retail. One hundred of the apartments are designated as workforce housing for households earning …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Viridian-Boston
FinanceMassachusettsNewsNortheast

PGIM Funds $132 Million Loan for Abbey Group’s Viridian in Boston

by Lynn Peisner

BOSTON — PGIM Real Estate has provided a $132 million, floating-rate refinancing loan for The Abbey Group’s Viridian project in Boston. Amy Lousararian, managing director at JLL Capital Markets, arranged the financing. The Abbey Group opened the 342-unit, 20-story community in 2015. Apartments are offered as studios or in one-, two- and three-bedroom layouts as well as penthouse units. According to the property website, asking monthly rents for studios start at $3,015, and three-bedrooms start at $6,250. Amenities include a two-story atrium with 24-hour concierge service, two rooftop decks with …

Continue Reading
0 FacebookTwitterLinkedinEmail
355-Exterior-Street-J-Frankl-Architects
DevelopmentFinanceNew YorkNewsNortheast

SCALE Lending Provides $305 Million Loan to Beitel Group for Bronx Development

by Lynn Peisner

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided Beitel Group a $305 million construction loan for an unnamed development at 355 Exterior St. in the Mott Haven neighborhood of South Bronx. Landstone Capital Group arranged the financing. The community will consist of two connected 40-story and 26-story residential towers totaling 515,000 square feet with 755 units. The Beitel Group demolished the existing buildings and completed excavation work after entering a contract to purchase the site in October 2024. Construction began in December …

Continue Reading
0 FacebookTwitterLinkedinEmail
Arbello-San-Mateo-CA
CaliforniaDevelopmentFinanceNewsWestern

Martin Group, JPF Land $61 Million Construction Loan for Bay Area Project

by Lynn Peisner

SAN MATEO, CALIF. — IPA Capital Markets has arranged a $61 million loan for The Martin Group and JPF Capital, which are developing Arbello in San Mateo 19 miles south of San Francisco. The mixed-use project, located at 477 9th Ave., will include 120 apartments and 29,000 square feet of office space. According to Martin Group’s website, residential amenities will feature coworking space, a fitness center, a clubhouse, a central courtyard, a rooftop deck, bicycle storage and a dog park. Units will be offered as studios or as one- or two-bedroom …

Continue Reading
0 FacebookTwitterLinkedinEmail
Magnolia-at-Powell
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Agador Spartacus Receives $26 Million Loan for Magnolia at Powell

by Lynn Peisner

WILDWOOD, FLA. — Agador Spartacus has secured a $26 million take-out bridge loan on existing construction debt used to build Magnolia at Powell in Wildwood. The Aventura, Florida-based developer completed the build-to-rent project in January. JLL Capital Markets arranged the financing with a team led by Managing Director Max La Cava, Senior Managing Director Melissa Quinn, Vice President Rob Rothaug and Analyst Jade Starkey. The funding provider of the loan was not disclosed. Magnolia at Powell is located adjacent to The Villages active adult community and features one-, two- and …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Fairways
FinanceNew HampshireNewsNortheast

Newmark Arranges $143 Million Refinancing for One of Makor Capital’s New Hampshire Assets

by Lynn Peisner

DERRY, N.H. — Newmark has arranged a $143.1 million Fannie Mae loan for Makor Capital’s refinancing of The Fairways in Derry, about 43 miles north of Boston. Newmark Vice Chairman Ed Belz arranged the deal. Makor acquired the asset, located at 1 Forest Ridge Road, in 2016. Fairways is a garden-style community constructed in 1984 that features 849 units across a variety of two-, three- and four-story buildings. “By refinancing, we take some chips off the table while we continue to own and further improve the property over the long …

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