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Rates & lending news – page 19
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United Group Obtains $52M Refi on Sarasota 55+ Rental CommunityThe United Group of Companies closed on a $52 million loan to refinance Alloro at University Groves, a 55+ apartment community at 3540 Broadway Ave, in Sarasota, Florida.
IPA Arranges $131.5M in Construction Financing for Student Housing Project in Upper ManhattanNEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $131.5 million in construction financing for a student housing development in the Washington Heights neighborhood of Upper Manhattan. The 28-story building at 465 W. 165th St.
Lightstone Capital Originates Senior Loans for Two San Diego Multifamily PropertiesLightstone Capital, Lightstone’s real estate debt platform, recently closed three originations totaling $70 million across California and Texas.
Zenith IOS, J.P. Morgan Asset Management Close on $215M Credit FacilityZenith Industrial Outdoor Storage, a vertically integrated industrial outdoor storage investment platform, in partnership with institutional investors advised by J.P.
Representative imageKrea USA Nabs $62M Construction Loan for Lauderhill, Fla., RentalKrea USA nabbed a $61.8 million construction loan for a multifamily development in Lauderhill, Fla., property records show.
Blue Owl Capital Provides $106M to Refi Lowell Hotel in New York CityA historic New York City hotel has received a new round of debt financing.
Concord Arranges $50M Construction Loan for FW ApartmentsSumma Terra Ventures and M13 Construction obtained a $50 million construction loan for Vic Centre Apartments, a 268-unit Class A multifamily community in Fort Worth.
Zenith IOS, JPMAM Seal $215M Credit Facility With KeyBank, TruistZenith IOS, JPMAM Seal $215M Credit Facility With KeyBank, Truist As the industrial outdoor storage space continues to gain momentum, some key players are celebrating the next phase of their partnership with a fresh round of financing. Zenith Industrial Outdoor Storage and J.P.
Brook Farm Inks $73M Refi on Covington ApartmentsBrook Farm Group refinanced The Sinclair at Callaway Farm, a 388-unit, Class A multifamily community in Covington, Georgia. The $73 million refinancing from Prime Finance replaces the initial construction loan and preferred equity investment from the project’s inception in 2023.
MMCC Secures $4.8M Acquisition Loan for Minnesota Industrial PropertyALBERT LEA, MINN. — Marcus & Millichap Capital Corp. (MMCC) has secured a $4.8 million loan for the acquisition of a 127,869-square-foot industrial property located at 1851 Margaretha Ave. in southern Minnesota’s Albert Lea.
Cushman & Wakefield Arranges Acquisition Financing for Nashville Medical Office PropertyCushman & Wakefield arranged $5.34 million in acquisition financing on behalf of Onicx Health Care Real Estate for Crossroads Medical Pavilion, a one-story, 34,680-square-foot medical office property in Tennessee, approximately 10 miles north of Nashville.
Ken Griffin, Vornado Near Record $3.3B Loan For Park Avenue SupertallCitadel also agreed to lease 1M SF in the tower, up from its previously announced 850K SF footprint.
Talonvest Secures $47.6M Loan for 6-Property Texas Self-Storage PortfolioTalonvest Capital secured a $47.6 million permanent loan on behalf of The Jenkins Organization and Clark Investment Group for a six-property self-storage portfolio located across five high-growth Texas markets, including Austin, McKinney, Frisco, Houston (shown) and Bee Cave.
Scottsdale Schwab Offices Undergoing $11.7M RevampCharles Schwab Corp. is investing millions into an extensive renovation of a nearly 84,000-square-foot office space in north Scottsdale where the firm is planning a major Arizona expansion. The Dallas Business Journal reports the financing services company filed a permit for $11.
Walker & Dunlop Arranges $137.5M Loan for Refinancing of Brooklyn Apartment BuildingNEW YORK CITY — Walker & Dunlop has arranged a $137.5 million loan for 12 Halsey, 240-unit apartment building in Brooklyn’s Bedford-Stuyvesant neighborhood.
Representative imageUrban Standard Capital Grows $200M Credit Facility With Western Alliance BankUrban Standard Capital has deepened its relationship with a major Arizona bank.
Representative imageRichman Group Obtains Three Loans for Luxury Apartment Communities in Florida Totaling $225MGREENWICH, CONN. — The Richman Group, a multifamily owner and operator based in Greenwich, has obtained loans for the refinancing of three luxury apartment communities in Florida totaling approximately $225 million.
Representative imageRegions Originates $64.3M Agency Refinancing for Apartment Community in Monroe, North CarolinaMONROE, N.C. — Regions Real Estate Capital Markets has originated a $64.3 million Freddie Mac loan for the refinancing of Elevate Rocky River, a 360-unit apartment community in Monroe, about 28 miles southeast of Charlotte.
Richman Group Secures Refis on Three Florida Rental AssetsThe Richman Group closed on $225 million in permanent financing across three fully stabilized Florida luxury multifamily communities–each in excess of their original construction loans.
JLL Secures $213M Refinancing for Chicago Office TowerCHICAGO — JLL Capital Markets has secured a $213 million refinancing for 360 North Green, a 500,000-square-foot office tower in Chicago’s Fulton Market.