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Rates & lending news – page 17
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Xebec Snags Financing for 687K-SF Savannah-Area Industrial DevelopmentXebec closed on $30.49 million in joint-venture equity alongside $39.95 million in construction financing for Black Creek Commerce Center, a three-building Class A industrial development in Black Creek, Georgia. not far from Savannah.
JLL Provides $42M Agency Loan for Refinancing of Multifamily Property in Vancouver, WashingtonVANCOUVER, WASH. — JLL has provided a $42 million Fannie Mae loan for the refinancing of Portola Bridge Creek, a 270-unit, garden-style community in Vancouver. The borrower was Irvine, California-based SB Real Estate Partners, which has owned the property since 2022.
Peachtree Recaps Ritz-Carlton Portland With $141M C-PACE LoanA New York lender is more than ready for a Portland hospitality resurgence.
CMBS Loan Backed by Vornado, Related’s 85 10th Avenue Sent to Special ServicingA $396 million commercial mortgage-backed securities (CMBS) loan secured by 85 10th Avenue, a 633,000-square-foot office property in Manhattan’s Chelsea neighborhood, has been sent to special servicing due to imminent maturity default, according to an alert from Morningstar…
Richman Group Secures $225M Loan to Refinance Three South Florida Multifamily AssetsThe Richman Group, an $18.5 billion asset management firm, has secured $225 million in permanent financing to refinance three stabilized luxury multifamily properties in South Florida that total 942 units.
ArrowMark Partners Refis Utah Apartments With $58M Bridge LoanA joint venture between Alpha Development Group and Bow River Capital has sealed $58 million of bridge debt to refinance two newly delivered adjacent multifamily developments in Utah’s Heber Valley, Commercial Observer has learned.
CBRE Arranges $109.5M Permanent Loan for Jersey City Apartment BuildingJERSEY CITY, N.J. — CBRE has arranged a $109.5 million permanent loan for 425 Summit, a 27-story apartment building in Jersey City’s Journal Square neighborhood.
U.S.-Japan Yen Intervention Puts Global Interest Rates in FocusExecutive Summary Japan and the United States recently jointly intervened to support the yen after the currency weakened to nearly ¥164 per dollar, its lowest level in roughly four decades.
SoFlo Homebuilders Prepare For Smaller, Pricier Market As Buyer Pool ShrinksDevelopers adapt to rising home prices and mortgage rates in South Florida, finding options to lure in buyers and lower expenses.
Domain Lines Up $176M Financing for Mixed-Income Astoria RentalsThe Domain Companies has closed on $175.6 million in financing with Wells Fargo for a new mixed-income housing project called Elara, which will deliver 429 new apartments in Astoria, Queens. Domain’s equity partners on the deal are Canyon Partners Real Estate and BLDG Management.
Keystone Arranges $22M Permanent Loan for Belmont MultifamilyKeystone recently closed on a $22,000,000 permanent loan on a multifamily property located in Belmont. The financing wasprovided by Voya Financial at a fixed interest rate of 5.47%. The borrower was not disclosed.
Benefit Street Partners Provides $103M Bridge Debt for Texas Multifamily PortfolioVantage Communities has secured $103 million in bridge debt to refinance a three-property, 864-unit multifamily portfolio in three cities in Texas, Commercial Observer can first report.
Northwestern Mutual Provides $110M Perm Loan for Jersey City Multifamily TowerA joint venture between Spitzer Enterprises and Arden Group has sealed $109.5 million of permanent financing for a newly-built multifamily tower in Jersey City, Commercial Observer can first report.
Wells Fargo Provides $175M Construction Loan for Queens Mixed-Use DevelopmentThe affordable housing development push continues in New York City.
Affinius Capital Provides $40.7M Construction Loan for Upper Manhattan Multifamily ProjectNEW YORK CITY — Affinius Capital has provided a $40.7 million construction loan for an 84-unit multifamily project in Upper Manhattan. The borrower is Haussmann Development.
Representative imageCBRE Arranges $18.4M in Financing for Shopping Center in Perth Amboy, New JerseyPERTH AMBOY, N.J. — CBRE has arranged $18.4 million in financing for ≈, a 91,280-square-foot shopping center located in the Northern New Jersey community of Perth Amboy.
Newmark Provides $33.5M Agency Loan for Refinancing of Reno Multifamily PropertyRENO, NEV. — Newmark has provided a $33.5 million Fannie Mae loan for the refinancing of Ascent on Steamboat, a 204-unit community in Reno that is owned by Elan Multifamily Investments. Newmark’s Lowell Takahashi and Vince Punzi originated the five-year, fixed rate loan.
MMCC Arranges Financing for Riverside County Self-Storage PropertyMarcus & Millichap Capital Corporation (MMCC) arranged $7,380,000 in financing for Beaumont RV and Self Storage, a 49,958-square-foot self-storage property located at 251 W. 1st St. in Beaumont.
Owner Lands $67M Loan To Renovate Apartments On Revere WaterfrontInvictus Real Estate secures a $67M loan to renovate its 194-unit Revere Beach property, enhancing amenities and units.
3650 Capital Furnishes Construction Loan for Yonkers Self-Storage3650 Capital has provided an approximately $24-million senior construction loan to finance the completion of 1060 Nepperhan Avenue, a 949-unit self-storage development located in Yonkers, NY. The project will be branded and operated by CubeSmart.