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Rates & lending news – page 33
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Luxury Jewelry Brand David Yurman Takes 685 Fifth’s Entire 23K-SF Retail CondoLuxury jewelry retailer David Yurman has leased the entire retail condominium at 685 Fifth Avenue, just one month after a $160 million loan on the property was transferred to special servicing.
Capital One Provides $96M Letter of Credit for Far Rockaway Affordable Housing ProjectTishman Speyer has sealed $214 million of construction financing to develop a 100 percent affordable housing property in Far Rockaway, Queens, Commercial Observer has learned.
Representative imageBlackstone Lands $115M Refi for Fort Lauderdale W Hotel From JP MorganBlackstone nabbed $115 million to refinance the oceanfront, W hotel in Fort Lauderdale, Fla., property records show. The debt from J.P. Morgan Chase covers the 346-room property at 401 North Fort Lauderdale Beach Boulevard, between Riomar Street and Bayshore Drive.
Mesa West Provides $83M Refi for 352-Unit Seattle-Area Multifamily ComplexHarrison Street Asset Management and Security Properties have secured $82.5 million to refinance Olin Fields, a 21-building, 352‑unit apartment community outside of Seattle, Commercial Observer can first report.
Dwight Capital Refis Oregon Apartments With $39M HUD LoanPacific Northwest developer Pahlisch Commercial has landed $39 million of U.S. Department of Housing and Urban Development (HUD)-backed debt to refinance a newly built multifamily development in a suburb outside Portland, Ore., Commercial Observer has learned.
Portman Closes $540M Financing to Develop Cincinnati Downtown Marriott HotelNational developer Portman has closed on $540 million in financing to develop the Cincinnati Downtown Marriott hotel.
CBRE Arranges Acquisition Financing for 353,000 SF Retail Property in San AntonioSAN ANTONIO — CBRE has arranged an undisclosed amount of acquisition financing for The Legacy, a 353,000-square-foot retail property in San Antonio. Built on 32 acres in 2006, The Legacy is home to tenants such as Main Event Entertainment, Best Buy and Buffalo Wild Wings.
Representative imageLument Provides $14.4M Agency Acquisition Loan for Northwest Houston Multifamily PropertyHOUSTON — Lument has provided a $14.4 million Fannie Mae acquisition loan for Aspen Forest, a 144-unit, garden-style multifamily property in northwest Houston. Built in 1985 and renovated in 2020, Aspen Forest comprises 36 buildings that exclusively house two-bedroom units.
Representative imageBWE Arranges $37M Bridge Loan for Apartment Building in Kalamazoo, MichiganKALAMAZOO, MICH. — BWE has arranged a $37 million bridge loan for The Exchange, a 15-story apartment building in Kalamazoo.
Representative imageJLL Arranges $26M in Construction Financing for Buffalo Mixed-Use ProjectBUFFALO, N.Y. — JLL has arranged $26 million in construction financing for Heritage Point, a mixed-use project in Buffalo’s Canalside district that will consist of 61 apartments and 30,000 square feet of commercial space across two six-story buildings.
Crescent Heights’ Skyline OC Lands $210M FinancingNewmark has arranged a $210-million financing secured by the remaining condominium inventory at Skyline OC South Coast Residences, a 25-story luxury residential development at 9 MacArthur Pl. in Santa Ana.
Walker & Dunlop Arranges $375M Loan for Jersey City Mixed-UseWalker & Dunlop, Inc. has arranged a $375 million construction loan to finance JFK Boulevard, Nasser Freres’ new mixed-use development in Jersey City’s Journal Square. The financing was provided by Madison Realty Capital.
Swansea Townhome Condos Secure Construction LoanEagleBridge Capital has arranged $5,900,000 construction mortgage financing for Phase One of Cedarbrook Homes in Swansea, MA. The mortgage was arranged by EagleBridge senior director Brian Walsh and principal Ted Sidel. The loan was provided by a leading national lender.
S3 Capital Lends $102M for Hell’s Kitchen Office-to-Resi ConversionDeveloper Hershy Silberstein has sealed $102 million of construction financing to execute an office-to-residential conversion of the Press Building in Manhattan’s Hell’s Kitchen, Commercial Observer can first report.
Centerbridge Partners Lends $210M on Orange County, Calif., Condos RepositioningDeveloper Crescent Heights has sealed a $210 million condominium inventory loan for the transformation of a newly acquired former multifamily property in Santa Ana, Calif., into Orange County’s tallest residential complex, Commercial Observer has learned.
Newmark Arranges $52M Refi for Cypress Apartment OwnerNewmark arranged a $52 million cash-out refinance for Cantera at Towne Lake, a 366-unit, Class A garden-style multifamily community located in Cypress, Texas, a high-growth suburb northwest of Houston.
Harbor Group Lands $124.6M Refi on Las Colinas Mixed-Use VentureBerkadia arranged a $124.6 million loan on behalf of Harbor Group International (HGI) to refinance Alesio Urban Center, a mixed-use community featuring 908 apartment homes and 55,499 square feet of retail and commercial space in the Las Colinas submarket of Irving, Texas.
Peachtree Lends $44M on Florida Panhandle Multifamily ProjectArris Holdings has sealed $43.5 million of bridge debt for the completion and lease-up of a multifamily community in the Florida Panhandle, Commercial Observer has learned.
Partners, ViaWest Land $122M Refi on Glendale Industrial ParkPartners Group and ViaWest Group secured $122 million in bridge financing for The Base, a newly constructed, seven-building industrial campus totaling 1,182,865 square feet in Glendale, Arizona, through Pacific Life Insurance Company.
Berkadia Arranges $124.6M Loan for Refinancing of Irving Mixed-Use PropertyIRVING, TEXAS — Berkadia has arranged a $124.6 million loan for the refinancing of Alesio Urban Center, a mixed-use property in Irving’s Las Colinas district that consists of 908 apartments and 55,499 square feet of commercial space.