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Rates & lending news – page 65
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Representative imageNewmark Arranges $145M Loan for Refinancing of Philadelphia Apartment BuildingPHILADELPHIA — Newmark has arranged a $145 million loan for the refinancing of Josephine, a 255-unit apartment building in Philadelphia. The 27-story building is located at 1620 Sansom St.
JLL Arranges $25.2M Refinancing for Boutique Apartment Building in ChicagoCHICAGO — JLL Capital Markets has arranged a $25.2 million loan for the refinancing of Chateau on Wells, a 43-unit luxury apartment building in downtown Chicago. The boutique property, built in 2016, features one retail suite and is located at 707 N. Wells St.
Representative imageJLL Provides $125.5M Agency Loan for Refinancing of Brooklyn Apartment BuildingNEW YORK CITY — JLL has provided a $125.5 million Freddie Mac loan for the refinancing of Union Channel, a 224-unit apartment building located in the Gowanus area of Brooklyn.
S3 Capital Lends on Multi-Phase Allenhurst Residential ProjectS3 Capital originated a $49-million construction loan to finance the development of a new residential community in Allenhurst, a costal enclave in Monmouth County, NJ.
Representative imageWelltower Secures $6.25B Revolving Credit Facility to Fund Capital DeploymentAs America ages, capital keeps coming into the senior housing sector, with one company reaping outsize rewards.
JLL Provides $126M Refi for Gowanus Wharf’s Union Channel Residential ComplexThe Gowanus Wharf superproject just landed another round of financing as the first of its four buildings nears the end of its inaugural year of operations.
Dwight Refis Astoria Apartments With $54M HUD LoanTsilo Group has sealed $54 million of U.S. Department of Housing and Urban Development (HUD)-backed debt to refinance a newly built mixed-use apartment building in Astoria, Queens, Commercial Observer has learned.
Palladium Advancing on 327-Unit McKinney Apartment CommunityPalladium USA closed on financing for Palladium Craig Ranch in McKinney, a new 327-unit multifamily development in Craig Ranch Town Center.
JLL Arranges $16.4M Loan for Refinancing of Brooklyn Multifamily PropertyNEW YORK CITY — JLL has arranged a $16.4 million loan for the refinancing of CIRRUS, a 46-unit multifamily property in Brooklyn’s Prospect Lefferts Gardens neighborhood that was completed in 2024.
CRE Distress Rate Falls Slightly to 11.6% in FebruaryCommercial real estate credit stress remains stubbornly elevated heading into the spring lending season, with CRED iQ’s latest data showing the overall distress rate — encompassing loans that are delinquent, specially serviced or both — registering 11.63 percent in February 2026.
Assisted Living Development in Oregon Secures $12M FinancingGantry has secured a $12 million construction-to-permanent loan for the development of a new assisted living facility in Woodburn, Oregon. The 46-unit, 51-bed facility is currently under construction at 1000 Country Club Road NE, adjacent to Heartwood Place Memory Care.
Slatt Capital Closes Financings in San Gabriel, Laguna BeachSlatt Capital has closed two financing transactions totaling $27.25 million for a pair of properties in Southern California.
PNC Provides Construction Loan on Luxury Belmar ApartmentsCushman & Wakefield arranged construction financing on behalf of Russo Development for the ground-up construction of Mara by Vermella, a 198-unit luxury multifamily community to be located at 800 River Rd. in the coastal community of Belmar, NJ.
M&T Realty Capital Refis Buffalo Tower With $120M CMBS LoanDouglas Development has sealed a $119.5 million debt package to refinance a redeveloped mixed-use tower in Downtown Buffalo, Commercial Observer can first report.
Representative imagePGIM Provides $103M Acquisition Financing to Alterra IOS to Buy 23 U.S. AssetsAlterra IOS keeps making moves to bolster its U.S. industrial portfolio. The firm secured $103 million in acquisition financing Monday to facilitate its purchase of 23 industrial outdoor storage (IOS) properties across 18 U.S. markets, Commercial Observer can first report.
S3 Capital Lends $49M for New Jersey Multifamily ProjectDevelopment firm RedHoek+ has landed $49 million of construction financing to develop a multifamily project in New Jersey’s Monmouth County, Commercial Observer has learned.
Glass House Boca Raton Inks $70M FinancingDeveloper 280 E Palmetto Park Road’s Glass House Boca Raton, secured $70 million in construction financing from Maxim Capital. Spearheaded by Noam Ziv, the nine-story condo project remains on track for its late-2027 completion.
Associated Bank Provides $7.6M Construction Loan for Chicago Apartment BuildingCHICAGO — Associated Bank has provided a $7.6 million construction loan for a five-story, 40-unit apartment building located at 4725 N. Clifton Ave. in Chicago. CEDARst Cos. is developing the transit-oriented project, which is named Clifton Uptown.
Slatt Arranges Life Company Financing for Pasadena Mixed-UseSlatt Capital, a nationally recognized commercial mortgage banking firm, closed a financing transaction totaling $10.2 million for a mixed-use project in Pasadena.
Lender Acquires Irvine Concourse Offices for Headquarters UseNewmark represented West Capital Lending in its $23.75-million acquisition of 17911 Von Karman Ave., a 104,375-square-foot, five-story Class A office building located in the Irvine Concourse submarket of Irvine.