Top Story

The Schoolhouse District in Woodinville, Washington

JLL Capital Markets Arranges $77 Million Refinancing for The Schoolhouse District in Seattle Suburb

by Channing Hamilton September 6, 2024

WOODINVILLE, WASH. — JLL Capital Markets has arranged a $77 million refinancing for The Schoolhouse District, a 264-unit mixed-use complex in downtown Woodinville, a northern suburb of Seattle. JLL represented the borrowers, MainStreet Property Group and HAL Real Estate, in securing the fixed-rate loan through AXA IM Alts. Seth Heikkila and Steve Petrie led the JLL Capital Market Debt Advisory team. The Schoolhouse District was built in 2021 on a 3.1-acre site. The community offers units in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, work-from-home spaces, grocery delivery …

September 6, 2024

Finance New York News Northeast

Affinius Capital Provides $98 Million Refinancing for 193-Unit Complex in Queens

by Channing Hamilton September 5, 2024

NEW YORK CITY — Affinius Capital has provided a $98 million loan for the refinancing of The Northern I and II, a 193-unit complex located in the Astoria neighborhood of Queens. Henry Bodek of Galaxy Capital arranged the loan through Affinius Capital on behalf of the borrower, Goose Property Management. The borrower will use the funds to complete construction of The Northern and to fund costs of lease-up. Northern I is a nine-story property comprising 64 units. Northern II rises 10 stories and offers 129 apartments. Both properties offer a …

September 5, 2024

A mixed-use community in Oceanport, New Jersey

Development New Jersey News Northeast

Public-Private Partnership to Develop 80-Acre, $200 Million Mixed-Use Project Near Racetrack in Oceanport, New Jersey

by Channing Hamilton August 30, 2024

OCEANPORT, N.J. — JEMB Realty has begun the design and development process for an 80-acre mixed-use property situated adjacent to the Monmouth Park Racetrack in Oceanport, a borough roughly 42 miles south of Newark, New Jersey. JEMB Realty will develop the multi-phase project in partnership with the State of New Jersey and Darby Development LLC. Construction is slated to begin in the fourth quarter of 2025. Plans for the site include a 298-unit residential building, as well as 200-room hotel and a sports community center to support local youth athletes. …

August 30, 2024

Investment Sales News Washington Western

Security Properties Acquires SKY Sammamish in Metro Seattle for $70.3 Million

by Channing Hamilton August 29, 2024

SAMMAMISH, WASH. — Security Properties has acquired SKY Sammamish, a 159-unit asset located in the Seattle suburb of Sammamish, for $70.3 million. According to the property website, SKY Sammamish offers one-, two- and three-bedroom apartment units. Amenities include a lounge, fitness center and sport court featuring basketball and pickleball courts, ping pong tables and a tabletop shuffleboard. The community was built in 2018 as a phase of the Sammamish Town Center, a mixed-use development that will serve as the new town center for the city. SKY Sammamish is currently the only …

August 29, 2024

Development Finance Massachusetts News Northeast

Colliers Arranges $41.4 Million in Construction Financing for 57 Main in Metro Boston

by Channing Hamilton August 28, 2024

MARLBOROUGH, MASS. — Colliers has arranged $41.4 million in construction financing for 57 Main, a 92-unit project in the western Boston suburb of Marlborough. 57 Main will feature an 8,600-square-foot amenity and mezzanine space. Amenities will include a fitness center, pool, sundeck with lounge seating and an 84-space parking garage for tenants. The property will also feature 3,500 square feet of ground-floor retail space. The financing consists of joint venture equity supplied by TwinFocus Real Estate Partners and a construction loan provided by a syndicate of lenders led by HarborOne …

August 28, 2024

A property included in a portfolio of seven assets in Spartanburg and Mauldin, South Carolina

Finance News South Carolina Southeast

JLL Capital Markets Arranges $53.4 Million Bridge Financing for 877-Unit Portfolio in South Carolina

by Channing Hamilton August 27, 2024

SPARTANBURG AND MAULDIN, S.C. — JLL Capital Markets has negotiated $53.4 million in bridge financing for a portfolio consisting of 877 units across five properties in Spartanburg and two communities in Mauldin. All seven properties were constructed between 1971 and 1986. The portfolio was 70 percent occupied at the time of sale. Of the total unit count, 139 have been recently renovated. Additionally, the sponsor plans to remodel an additional 300 apartments. Planned restorations include updates to in-unit features such as new cabinet faces, stainless steel appliances, quartz countertops, light fixtures and non-carpet …

August 27, 2024

Braxton at Lake Norman in Mooresville, North Carolina

Investment Sales News North Carolina Southeast

Northmarq Brokers $55 Million Sale of Braxton at Lake Norman in Charlotte Suburb

by Channing Hamilton August 26, 2024

MOORESVILLE, N.C. — Northmarq has brokered the sale of Braxton at Lake Norman, a 232-unit community located at 118 Plantation Creek Drive in the Charlotte suburb of Mooresville. Inwood Holdings LLC purchased the property from Passive Investing for $55 million. Andrea Howard, Caylor Mark, John Currin, Allan Lynch, Jeff Glenn and Austin Jackson of Northmarq represented the seller in the deal. Braxton at Lake Norman was built on a 20-acre site in 2014. The average apartment size is 1,055 square feet. Community amenities include a pool, fitness center with rock …

August 26, 2024

Finance Midwest Nebraska News

Northmarq Provides $75.5 Million Refinancing for Brickline at The Mercantile in Omaha, Nebraska

by Channing Hamilton August 23, 2024

OMAHA, NEB. — Northmarq has provided a $75.5 million Fannie Mae loan for the refinancing of Brickline at The Mercantile, a 379-unit property in Omaha. The complex was built in 2023. Amenities include a pool, golf simulator, fitness center, yoga studio, electric vehicle charging stations and coworking spaces. The community also features commercial space, which has been leased to three restaurant/entertainment concepts. Kevin McCarthy, Jeff Frankel, Alex Czachor and Jason Kinnison of Northmarq originated the loan on behalf of the borrower, a joint venture between Hines and Cresset Real Estate …

August 23, 2024

Affordable Housing Development News Texas

Palladium USA Breaks Ground on $79 Million Palladium Carver Living in Mesquite, Texas

by Channing Hamilton August 22, 2024

MESQUITE, TEXAS — Palladium USA has broken ground on Palladium Carver Living, a $79 million project in the Dallas suburb of Mesquite. Located on a 10-acre site at 2200 Bruton Rd., Palladium Carver Living will consist of 288 apartments in one-, two- and three-bedroom layouts. Pre-leasing will begin by the fourth quarter of 2025. A portion of units at the community will be set aside for individuals earning 60 percent of the area median income. Planned amenities include a pool, fitness center, conference center, clubroom, dog park, computer lounge and …

August 22, 2024

Finance Florida News Southeast

PMG, Greybrook Secure $178 Million Refinancing for Society Wynwood in Miami

by Channing Hamilton August 21, 2024

MIAMI — PMG and Greybrook have secured a $178 million loan for the refinancing of Society Wynwood, a 318-unit mixed-use asset located at 176 N.W. 25th St. in Miami’s Wynwood Arts District. Eastdil Secured arranged the loan through funds managed by Ares Management and Monarch Alternative Capital on behalf of the borrowers. Randy Barcelo of Stearns Weaver Miller advised PMG in the transaction. Society Wynwood rises 10 stories. The community offers 82,000 square feet of amenities, including a pool, theater lawn, outdoor gym and coworking spaces. The property also offers 50,210 …

August 21, 2024

Newer Posts

Older Posts