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Rates & lending news – page 54
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PCCP Provides $92.5M Construction Loan for Multifamily Development in OrlandoORLANDO, FLA. — PCCP LLC has provided a $92.5 million construction loan for Emi on 50, a 336-unit apartment development located at 1840 E. Colonial Drive in Orlando’s Mills 50 neighborhood. The borrower is Terian Development.
Dwight Capital Provides $23M HUD-Insured Loan for Refinancing of California Multifamily PropertyHANFORD, CALIF. — Dwight Capital has closed a $23 million HUD 223(f) refinance loan for Berkshire Crossing, a multifamily community in Hanford.
Representative imageDMT Provides $67.5M Bridge Loan for Refinancing of Upstate New York Multifamily PropertySARATOGA SPRINGS, N.Y. — Dwight Mortgage Trust (DMT), the affiliate REIT of New York City-based Dwight Capital, has provided a $67.5 million bridge loan for the refinancing of Elements at Saratoga Lake, a 260-unit multifamily property in upstate New York.
Abacus Capital Scores $111M Refi on Danbury ApartmentsNewmark arranged a $111.41-million loan on behalf of Abacus Capital Group to refinance Abbey Lane Apartments, a 470-unit Class A multifamily property located in Danbury, CT.
Talonvest Arranges Refi for Five-Property Self-Storage PortfolioTalonvest Capital, Inc. arranged $64 million in refinancing for a five-property self-storage portfolio on behalf of SoCal Self Storage, a Southern California owner-operator with nearly four decades of experience.
Morgan Stanley Refinances SoCal Self-Storage PortfolioA California self-storage company has secured refinancing for five properties at an inflection point for the niche real estate sector. Morgan Stanley provided $64 million for the portfolio owned by operator SoCal Self Storage, property records show.
Genesis Capital Provides $49M Construction Loan for Wynwood Multifamily ProjectEvolve Companies has secured $48.5 million in construction financing to build Evolve Wynwood 35, a new 141-unit mid-rise apartment in the Wynwood submarket just north of Downtown Miami.
Oak Funding Refis N.J. Office Campus With $80M LoanA joint venture between Rubenstein Partners and Vision Real Estate Partners has sealed an $80 million loan to refinance a suburban office asset in central New Jersey, Commercial Observer has learned.
As SOFR Eases, Funds Rate Refuses to FollowExecutive Summary The effective federal funds rate (EFFR) remains pinned at 3.64%, even as SOFR pressures have eased and the Federal Reserve has injected liquidity through T-bill purchases.
Miami Developer Scores $48.5M Construction Loan for Miami ApartmentsEvolve Companies obtained a $48.5 million construction loan for Evolve Wynwood 35, a proposed 141-unit midrise apartment located at 535 NW 35th St. in Miami.
Evolve Inks $49M Refi for Greenville Rental AssetNewPoint Real Estate Capital provided a $49 million bridge loan for the refinance of Evolve at the Pines Apartment Homes, a 288-unit multifamily property located in Greenville, North Carolina.
Blackstone Lands $154M Refinancing for Miami Office TowersBlackstone’s Perform Properties obtained a $154 million loan to refinance 2 and 3 MiamiCentral, a development made up of a 17-story 196,000 square foot office tower, and one that is 12 stories, with just over 100,000 square feet of office space. Eastdil Secured arranged the deal.
Trinity and UBS Secure $600M Refi for Diplomat Resort in South FloridaTrinity Investments and UBS have refinanced the 1,000-room Diplomat Beach Resort in Hollywood, Fla., with a $600 million loan from J.P. Morgan Chase and Citi Real Estate Funding, property records show. The property is one of the largest oceanfront resorts in South Florida.
Mesa West Provides $47M Refi for 274-Unit Austin Apartment ComplexUnited Properties has secured $47 million to refinance Bishop Momo, a 274-unit multifamily community that opened two years ago in Austin, Texas, Commercial Observer can first report.
LUXCOM Inks $72M Refi on Sunrise ApartmentsDwight Mortgage Trust closed a $72 million bridge refinance loan for Sereno, a newly built 235-unit luxury apartment development in Sunrise, Florida. LUXCOM was the borrower.
JLL Arranges Construction Financing for Northern New Jersey Mixed-Use ProjectHALEDON, N.J. — JLL has arranged an undisclosed amount of construction financing for a mixed-use project in the Northern New Jersey community of Haledon. Known as High Mountain Promenade, the development at 987 Belmont Ave.
Affinius Provides $70.2M Refinancing for Savannah Warehouse ProjectAffinius Capital originated a $70.2 million loan to a real estate fund advised by Crow Holdings Capital to refinance Terminal East, a 915,000-square-foot industrial property in Savannah, GA.
Representative imageCIM Group Provides $154M Loan to Blackstone for Refinancing of MiamiCentral Office TowersMIAMI — Los Angeles-based CIM Group, through its CIM Real Estate Debt Solutions business, has provided a $154 million loan for the refinancing of 2 and 3 MiamiCentral, two adjacent office towers in downtown Miami.
Affinius Capital Originates $70.2M Refinancing for Terminal East Industrial Property in SavannahSAVANNAH, GA. — Affinius Capital has originated a $70.2 million loan for the refinancing of Terminal East, a two-building industrial property in north Savannah spanning 915,000 square feet.
JLL Arranges $55.7M in Acquisition Financing for Multifamily Property in Oxnard, CaliforniaOXNARD, CALIF. — JLL Capital Markets has secured $55.7 million in financing for the acquisition of Tempo at Riverpark in Oxnard. The borrower is Hines U.S. Property Partners, Hines’ flagship commingled U.S. core plus fund.