CHICAGO — Concord Summit Capital LLC has arranged $10 million in mezzanine financing for the construction of a community in Chicago. Once completed, the property will offer amenities such as a fitness center, lounge, game room, private event space, outdoor pool and ground-floor co-working spaces. Daniel Eidson, David Larson and Keegan Burger of Concord Summit arranged the financing, which included a senior loan with a C-PACE component. The lender and borrower were not disclosed.
FORT WORTH, TEXAS — Greystone has arranged $22.9 million in financing for The Barcelona on Chisolm Trail, a 248-unit property in Fort Worth. The Barcelona on Chisolm Trail will comprise 17 buildings on a 10-acre site. Amenities include a pool, playground, dog park, outdoor lounge areas, business center, fitness center and a clubhouse. The borrower was MBP Capital Partners. Lance Wright, Thomas Wayda and Dante Distefano of Greystone arranged a $19.5 million bridge loan through an undisclosed debt fund. Matthew Zisler of Greystone also brokered a $3.4 million preferred equity …
MIAMI-DADE COUNTY, FLA. — Pinnacle has secured $49.9 million in construction financing for phase II of Old Cutler Village, a 120-unit affordable housing project located at 10455 Old Cutler Road in unincorporated southern Miami-Dade County. Once completed, the building will rise five stories and offer one-, two- and three-bedroom layouts. Units will be available to households earning 30, 60 and 70 percent of the area median income. Construction is expected to be completed in October 2025.
PUEBLO, COLO. — BWE has negotiated a $39.4 million HUD 221(d)(4) loan to facilitate the construction of Pueblo Springs, a 199-unit community in Pueblo. James Swanson of BWE’s Phoenix office originated the non-recourse, fully assumable loan, which features a 40 year, fully amortizing term. Pueblo Springs will offer amenities such as a clubhouse, fitness center, business center, community room, bike storage, pool, BBQ and picnic areas, walking paths, 24-hour emergency staff, and gated entry. The borrower and developer was Arizona-based ESH Development LLC. Colorado Structures Inc. is the general contractor …
DREXEL HILL, PENN. — Hudson Atlantic has arranged the sale of Garrett House Apartments, a 57-unit community in the Philadelphia suburb of Drexel Hill. The property traded hands for $6 million at a 5.8 percent cap rate. Adam Zweibel of Hudson Atlantic negotiated the deal. Garrett House Apartments was built in 1960. According to Apartments.com, the community features an on-site laundry room and off-street parking.
PHOENIX — Tower Capital has arranged $23.1 million in permanent financing for the refinance of North Mountain Foothills, a 194-unit community in Phoenix. The borrower was an undisclosed repeat client of Tower Capital. North Mountain Foothills is situated at 1943 W. Aster Dr. The property was converted from a condominium after the borrower began purchasing the units between 2010 and 2012. The borrower has since renovated the interior and exterior of the property, along with significant mechanical, electrical and plumbing upgrades.
GARLAND, TEXAS — Colliers Mortgage has provided a $13.9 million HUD 221(d)(4) loan for the construction of Urban Village at Rosehill Apartments, a 104-unit community in the Dallas suburb of Garland. Jeff Rogers of Colliers Mortgage’s Fort Worth office closed the loan, which carries a 40-year term and amortization. Once completed, the property will comprise a single four-story building. Units will come in one- and two-bedroom layouts. Planned amenities include a pool, dog park, green space, clubhouse, fitness center, community room and business center.
EATON, COLO. — JLL Capital Markets has arranged $5.8 million in financing for Benjamin Square, a 60-unit affordable housing community in Eaton. Benjamin Square consists of 10 buildings. The property was completed in 1979 and 1980. Apartments come in one-bedroom layouts. Amenities include a laundry room, community lounge and covered gazebo. JLL represented the borrower, Brikwell, to secure the fixed-rate senior loan through Freddie Mac Multifamily. Brikwell was also able to renew and extend the community’s Project-Based Section 8 HAP contract prior to acquisition and loan closing, allowing the property to …
JACKSONVILLE, FLA. — S2 Capital has acquired Belle Rive Club Apartments, a 104-unit community located at 8715 Belle Rive Blvd. in the Royal Lakes neighborhood of Jacksonville. Belle Rive Club Apartments offers one- and two-bedroom floor plans. Amenities include a pool, grilling area, dog park, fitness center, clubhouse, car wash area and access to the nearby inland lakes. The name of the seller was not disclosed. S2 Capital acquired the asset alongside Vineyard Hills, a 202-unit community in Austin, Texas.
AUSTIN, TEXAS — S2 Capital has purchased Vineyard Hills, a 202-unit property in southwest Austin, for an undisclosed price. Vineyard Hills is situated on a 11-acre site. Units come in one-, two- and three-bedroom floor plans. Community amenities include a pool, spa, dog park and outdoor grilling and dining stations. The identity of the seller was not disclosed. S2 Capital acquired the asset in conjunction with Belle Rive Club Apartments, a 104-unit complex in Jacksonville, Florida.