Rates & lending news

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LendingOfficeBlackstone, LBA Land $270M Office Refi in L.A.’s Culver CitySep 30, 2026Blackstone and LBA Realty are set to close a $270 million commercial mortgage-backed securities refinancing for an office campus in Southern California’s Culver City.LendingMercedes-Benz Miami Project’s $1.1B Financing Package Speeds Closer to CompletionSep 30, 2026Ladies and gents, start your engines. Mercedes-Benz Places–Miami’s construction financing is officially off to the races, sources confirmed to Commercial Observer. J.P.LendingGGP Lines Up $400M Loan To Refinance New England's Largest MallSep 30, 2026Brookfield-owned GGP is finalizing a $400M refinancing deal for the largest mall in New England after securing leases to fill vacant space.LendingIndustrialNorthwest Bank Lends $35M on Boston-Area Industrial BuySep 30, 2026Luzern Associates has landed $34.5 million of acquisition financing to purchase a three-building industrial campus in Boston’s North Shore area, Commercial Observer has learned.LendingOfficeJ.P. Morgan Snags £1B Loan For Spitalfields Office RedevelopmentSep 30, 2026ING and DBS provided £1B to redevelop One Spitalfields, offering 700K SF of office space, pre-let secured.LendingCitizens Bank Leads $78M Financing on Philly-Area Affordable Housing RehabSep 30, 2026Development firm People Restoring Communities (PRC) has sealed $77.61 million in construction financing for the rehabilitation of an affordable housing community in southern New Jersey, Commercial Observer has learned.LendingEmpire Lands $65.5M Refi on Phoenix BTR CommunitySep 30, 2026Värde Partners closed on a $65.5 million loan to refinance Village at Sonoran Vista, a newly delivered build-to-rent community in Phoenix, Arizona.LendingOfficeBWE Secures $42.5M Refi for Historic Nashville BuildingSep 30, 2026BWE secured $42.5 million to refinance the Baggage Building, a Class A mixed-use office and retail property that has an iconic place in Nashville’s storied history. DZL was the sponsor. BWE’s Nick Harb arranged the financing.LendingGreystone Provides $167M Financing for Affordable Housing Tower Development in MiamiSep 30, 2026MIAMI — Greystone has provided a loan package totaling $167 million for the construction of Gallery at Lummus Parc, an affordable housing high-rise development located at 395 N.W. 1st St. in Miami.Representative imageLendingAvatar Financial Provides $3.9M Bridge Loan for Metro Houston HotelSep 30, 2026RICHMOND, TEXAS — Seattle-based lender Avatar Financial Group has provided a $3.9 million bridge loan for the 80-room Fairfield Inn & Suites byMarriott hotel in Richmond, a southwestern suburb of Houston.LendingRelated Affiliate Obtains $167M Loan Package for Miami Apartment CommunitySep 30, 2026Related Urban Development Group (RUDG), part of The Related Group, inked a $167 million financing package for the Gallery at Lummus Parc. Greystone provided the financing.LendingIndustrialJLL Arranges $75M in Financing for Industrial Park in Medford, New YorkSep 30, 2026MEDFORD, N.Y. — JLL has arranged $75 million in financing for Rechler Business District, a master-planned industrial business park in Medford, located on Long Island.LendingGriffis Residential Receives $86M in Financing for Denver Apartment CommunitySep 30, 2026DENVER — Griffis Residential has received $86 million in financing for Griffis Union Station, a Class A apartment property in Denver. Eric Tupler, Kevin Barron and Jake Martin of JLL Capital Markets secured the five-year senior agency loan for the borrower.LendingVärde Partners Supplies $66M Refi for Phoenix Single-Family Rental PropertySep 30, 2026Arizona developer Empire Group has sealed a $65.5 million loan to refinance a newly built single-family rental (SFR) community in Phoenix, Commercial Observer has learned.LendingGID Provides $125M Construction Loan for St. Petersburg Multifamily TowerSep 29, 2026PTM Partners has secured $125 million of construction financing to build Edge Collective II, a 330-unit multifamily tower that represents the second phase of a broader mixed-use development in Downtown St. Petersburg, Fla., according to a release.LendingOutstanding U.S. CRE Mortgage Debt Rises to $5.1 TrillionSep 29, 2026U.S. commercial/multifamily mortgage debt outstanding increased by $42.9 billion in the second quarter of 2026, a 0.9% increase over Q1, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.LendingPTM Lands $125M Financing for St. Pete Multifamily CommunitySep 29, 2026PTM Partners closed on a $125 million construction loan from GID to finance EDGE Collective II, a 330-unit Class AA multifamily high-rise including 19,000 square feet of retail space in downtown St. Petersburg’s EDGE District.LendingCentersPCCP Provides $66.8M Construction Loan for Northern New Jersey Multifamily ProjectSep 29, 2026FAIR LAWN, N.J. — Los Angeles-based PCCP LLC has provided a $66.8 million senior construction loan for Plaza Greene, a 145-unit multifamily project that will be located in the Northern New Jersey community of Fair Lawn.LendingRising Rates, Construction Costs Force Developers to Get Creative With FinancingSep 29, 2026Rising construction costs are slowing the flow of commercial real estate development in 2026 with developers often seeking innovative ways to bring their projects across the finish line.LendingOfficeInvestor Duo Obtains $270M Refi on 387K-SF Culver City Office PropertySep 28, 2026Blackstone and LBA Realty are ready to close on a $270 million CMBS refinancing for One Culver, an 8-story office building in Culver City, a town teeming with prominent companies. The 378,377-square-foot office property is near Apple’s 536,000-square-foot office building.