Top Story

Swell-Apartments-Seattle
Affordable HousingFinanceNewsWashingtonWestern

Newmark Arranges $55M Refinancing for Swell Apartments in Seattle

by Lynn Peisner

SEATTLE — Newmark has arranged a $55 million loan on behalf of Mack Real Estate Group, Silverstein Properties and Cantor Fitzgerald to refinance Swell Apartments, a 200-unit community in Seattle. Jordan Roeschlaub, Chris Kramer, Sam Speciale and Lance Tillman arranged the financing with Tokyo-based ORIX, a commercial real estate finance and investment firm. Completed in 2024, Swell Apartments, in Seattle’s Yesler Terrace neighborhood, is comprised of market-rate and affordable units — restricted to tenants earning 60 to 80 percent of area median income — and amenities such as a rooftop …

Continue Reading
0 FacebookTwitterLinkedinEmail
Rushmark-West-Falls-VA
DevelopmentFinanceNewsNortheastWashington, D.C.

Rushmark Secures Financing for $136M Development Near Metro D.C. Commuter Station

by Lynn Peisner

FALLS CHURCH, VA. — Rushmark has secured financing to develop a $136 million apartment community in West Falls Church. FCP provided $22 million of preferred equity, and PNC contributed a $92 million senior construction loan. Patrick McGlohn, Brian Crivella, Yalda Ghamarian, Brian Gould, Bill Gribbin and Patrick Cunningham of Berkadia DC Metro led the transaction. Located at the corner of Falls Church Drive and West Falls Station Boulevard, the seven-story community will offer a mix of one- and two-bedroom apartments and such amenities as work-from-home spaces, a clubroom, speakeasy and …

Continue Reading
0 FacebookTwitterLinkedinEmail
W-Lobby-Cleveland
DevelopmentFinanceMidwestNewsOhio

ErieView Secures $217.6M in Construction Financing for Cleveland Tower Redevelopment

by Lynn Peisner

CLEVELAND — ErieView Development, led by Cleveland’s Kassouf family, is redeveloping the 40-story Erieview Tower into a 210-room W Cleveland hotel, 215 W-branded rental apartments and renovated office space. Brown Gibbons Lang & Co. served as financial adviser and arranged roughly $217.6 million in financing for the residential and hotel phases. The hotel and apartments are slated to open in late 2027. In 2018, The Kassouf family acquired the largely vacant office tower, built in 1964. The conversion will introduce both Ohio’s first W Hotel and the W brand’s first …

Continue Reading
0 FacebookTwitterLinkedinEmail
Aston-at-Longleaf-Melbourne
DevelopmentFinanceFloridaNewsSoutheast

Eastwind Development Secures $45.5M Construction Loan for Space Coast Project

by Lynn Peisner

MELBOURNE, FLA. — Palm Beach Gardens, Florida-based Eastwind Development has broken ground on The Aston at Longleaf on Preserve Drive in Melbourne. Construction of the 264-unit community began after Eastwind acquired the 17-acre site and secured a $45.5 million construction loan provided by TD Bank. Amenities at The Aston include a 10,000-square-foot clubhouse featuring a community lounge, game room, fitness center with an adjoining spin room and a coworking lounge. Outside, residents have access to a resort-style pool with private cabanas, an outdoor kitchen, firepit, yoga lawn, games lawn, dog …

Continue Reading
0 FacebookTwitterLinkedinEmail
Sugarmont-SLC
Company NewsNews

Independence Realty Trust, Centerspace Agree to $8.1B Merger

by Lynn Peisner

PHILADELPHIA — Independence Realty Trust (NYSE: IRT) and Centerspace (NYSE: CSR) announced Sept. 9 an agreement to merge in an all-stock transaction. The combined company will retain the Independence Realty Trust name and NYSE ticker IRT. The transaction is expected to close as early as the end of 2026, at which point, Centerspace shares will cease trading under the CSR ticker. The combined REIT is expected to have a market value of about $5 billion and an enterprise value of roughly $8.1 billion. The combined REIT will be headquartered at …

Continue Reading
0 FacebookTwitterLinkedinEmail
East-Howe-Steps-Seattle
Investment SalesNewsWashingtonWestern

IPA Arranges $35.1M Sale of East Howe Steps in Seattle

by Lynn Peisner

SEATTLE — Bender Equities has sold East Howe Steps in Seattle’s Eastlake neighborhood for approximately $35.1 million. The buyer was Sequel Investment Co. and Evergreen Gavekal. Institutional Property Advisors’ Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented Bender. Brian Eisendrath, Cameron Chalfant, Jake Vitta, Ray Allen and Tyler Johnson of IPA Capital Markets arranged acquisition financing. Completed in 2016, East Howe Steps is a two-building, four-story property with a rooftop deck, landscaped courtyards, a fitness center, controlled access parking, bike storage and on-site paddleboard and kayak …

Continue Reading
0 FacebookTwitterLinkedinEmail
Park-Tower-Jersey-City
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Namdar Group Secures $390M for Jersey City Tower

by Lynn Peisner

JERSEY CITY, N.J. — New York City-based developer Namdar Group has secured $390 million in financing for Park Tower, a 1,049-unit, transit-oriented, mixed-income development in Jersey City’s Journal Square neighborhood. A start date was not announced. Completion is slated for May 2029. Park Tower adds to Namdar’s extensive Journal Square portfolio, where the developer has delivered more than 2,000 apartments as part of a multi-year buildout around the neighborhood’s PATH station. The PATH train provides direct access to the World Trade Center in Lower Manhattan. Affinius Capital provided a $310 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Thompson-Oaks-St-Paul
DevelopmentFinanceMidwestMinnesotaNews

Greco, Swervo Secure $76.3M in Financing for 291-Unit West St. Paul Development

by Lynn Peisner

WEST ST. PAUL, MINN. — Greco and Swervo Management have obtained $76.3 million in financing to develop Thompson Oaks, a 291-unit project in West. St. Paul. Thompson Oaks is the first phase of a larger redevelopment of the former West St. Paul YMCA and adjacent city-owned land, which has sat largely vacant since Hy-Vee demolished the YMCA in 2020 and later abandoned plans for a grocery store. The financing package includes a $63 million, four-year, floating-rate loan through First International Bank & Trust and $13.3 million in equity from WhiteStar …

Continue Reading
0 FacebookTwitterLinkedinEmail
Upland-Park-Miami
DevelopmentFinanceFloridaNewsSoutheast

Terra Obtains $245M in Permanent Financing for First Phase of Miami’s Upland Park Project

by Lynn Peisner

MIAMI — Locally based development firm Terra has secured $245 million in takeout financing following the completion and stabilization of Phase I of Upland Park, a $1 billion, 47-acre mixed-use development in Miami. Slate Property Group was the lender. Designed by PPK Architects, in collaboration with master plan architect Arquitectonica and urban planners Plusurbia Design, Upland Park will be built in multiple phases. Future phases will include additional mid-rise and garden-style apartments, retail and commercial space. Construction of the project’s second residential phase, which will add another 484 apartments, is …

Continue Reading
0 FacebookTwitterLinkedinEmail
Portofino-Place-Apartments-WPB
FloridaInvestment SalesNewsSoutheast

Fairfield Acquires 812-Unit Portofino in West Palm for $208M

by Lynn Peisner

WEST PALM BEACH, FLA. — San Diego-based Fairfield Residential has acquired the 812-unit Portofino Place in West Palm Beach. The asset sold for $208 million, and the seller was Atlanta-based Cortland Partners, according to the South Florida Business Journal. Located at 4400 and 4600 Portofino Way, the property is comprised of one-, two- and three-bedroom apartments as well as two-story lofts and four resort-style pools. Additional amenities include a 24-hour fitness center, yoga studio, pickleball and tennis courts, indoor basketball court, coworking space, dog park, guest suite accommodations and multiple social …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2026 France Publications, dba France Media Inc.