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Sky Equity Group Secures $340 Million Loan to Complete Brooklyn Project

by Lynn Peisner July 31, 2025

NEW YORK CITY — Affinius Capital has funded a $340 million loan for Sky Equity Group. The financing will be used to retire existing debt, complete construction and to pay expenses related to leasing 313 Bond in the Gowanus neighborhood of Brooklyn. The loan was arranged by Henry Bodek of Galaxy Capital. The 603-unit, two-building property, still under construction, also has 51,600 square feet of retail space. The developer broke ground in 2023. Full completion is expected before the end of this year. 313 Bond will offer 149 studios, 313 …

July 31, 2025

Investment Sales News Texas

Historic Former Hilton Hotel Building Changes Ownership in Abilene, Texas

by Lynn Peisner July 30, 2025

ABILENE, TEXAS — Franklin Street has arranged the sale of The Windsor Hotel Apartments at 401 Pine Street in Abilene. Franklin Street represented the seller, North Management LLC, in the sale of the property to Studio 168 Productions. The 10-story, 110,000-square-foot building was originally a Hilton Hotel built in 1926 and was among the first Hilton-branded hotels in the country. North Management spent approximately $4.7 million to renovate the property in 2023. Renovations included adding amenities like a fitness center with a sauna, coworking spaces, a resident lounge and ground-floor …

July 30, 2025

Affordable Housing Finance New York News Northeast

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

by Lynn Peisner July 30, 2025

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 …

July 30, 2025

Affordable Housing Arizona Development News Western

Dominium Acquires Land for LIHTC Development in Metro Phoenix

by Lynn Peisner July 29, 2025

SURPRISE, ARIZ. — Dominium has closed on land in Surprise, a Phoenix suburb about 22 miles northwest of downtown. The developer is planning to build Allasso Ranch on the site. The project will comprise 304 affordable homes supported by low-income housing tax credits. While specific area-median-income caps were not disclosed, the developer says a three-bedroom unit will rent for $1,597 per month, and a four-bedroom will rent for $1,770. According to RentCafe, average monthly asking rents for a three-bedroom in Surprise are about $2,054. Amenities will include a leasing center, …

July 29, 2025

Finance Georgia Indiana Kentucky Midwest News Ohio Southeast

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

by Lynn Peisner July 28, 2025

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, …

July 28, 2025

Development Finance New York News Northeast

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

by Lynn Peisner July 25, 2025

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 …

July 25, 2025

California Development Finance News Western

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

by Lynn Peisner July 24, 2025

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 …

July 24, 2025

Investment Sales Midwest Minnesota News

Waterton Buys Minneapolis High-Rise for $111.5 Million

by Lynn Peisner July 23, 2025

MINNEAPOLIS — Waterton has acquired 365 Nicollet, a 370-unit, 30-story property in Minneapolis from joint venture owners Opus Development Co. and Corebridge Real Estate Investors. The sales price was $111.5 million, according to the Minneapolis/St. Paul Business Journal. Constructed, designed and developed by Opus in 2018, 365 Nicollet’s unit mix includes studios and one-, two- and three-bedroom apartments as well as 50 penthouse units with a higher-end appliance package and hardwood floors. Amenities at 365 Nicollet include a fitness center and yoga studio, a sauna, an outdoor pool with a …

July 23, 2025

Development Illinois Midwest News

Banner Real Estate Secures $124 Million in Debt and Equity for Suburban Chicago Project

by Lynn Peisner July 22, 2025

WHEATON, Ill. — Banner Real Estate Group has secured $124 million in debt and equity and broken ground on The Faywell in Wheaton, 30 miles west of Chicago. The financing includes an $84 million construction loan from PNC Bank and approximately $40 million in joint venture equity, according to Crain’s Chicago Business. The 2.6-acre development site is an assemblage of 13 parcels and involved seven separate sellers. The deal took about five years to put together. The site is adjacent to the Metra Union Pacific West station with service to downtown …

July 22, 2025

Development Georgia News Southeast

Portman to Develop Mixed-Use Project, with 332 units, Near Atlanta

by Lynn Peisner July 21, 2025

FAIRBURN, GA. — Portman has closed on a land deal in Fairburn, an Atlanta suburb, where it plans to develop a 332-unit property with retail and greenspace. The Atlanta-based development company, founded in 1957, will break ground in late July and estimates completion by June 2027. Meadow Glen Village will include a variety of home types across nine buildings, each with its own dedicated parking. It will also feature a town green for resident events as well as public use. The greenspace will be flanked by two 6,000-square-foot retail buildings that …

July 21, 2025

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