Charlotte Apartment Developer Inks $68.5M Loan
Broadshore Capital Partners closed a $68.5 million senior bridge loan secured by J Optimist Park, a newly delivered 350-unit Class A multifamily community located at 1130 North College Street in Charlotte. Broadshore completed the transaction in partnership with borrower entity Jefferson Apartment Group.
CBRE’s Nate Sittema and Kristen Reilley served as brokers on the transaction. The financing will facilitate continued lease-up and stabilization.
Community amenities span more than 30,000 square feet and include a pool, fitness center, coworking lounges, conference rooms, a yoga lawn, pet spa, bike storage, EV charging, package lockers, and an on-site grab-and-go market.
Broadshore is now the institutional investment and lending arm of Milhaus SRG. The company has had three closings in three markets within two months.
Other News
Aspen Square Spins Off 395-Unit Marietta Rental Asset
Aspen Square Management offloaded the Legacy at West Cobb in Marietta, Georgia, for $48 million. The 395-unit apartment complex was sold to Acento Partners. Andrew Mays and Paul Vetter of Berkadia Atlanta represented the seller. Berkadia also arranged a $36 million acquisition loan. The property was 88% occupied at the time of sale. Berkadia’s Mays...
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Newmark Arranges Refi for Prospect Lefferts Gardens Multifamily
Newmark arranged a $47.6-million loan on behalf of The Hudson Companies to refinance The Clark, a 170-unit multifamily property located at 310 Clarkson Ave. in Brooklyn’s Prospect Lefferts Gardens neighborhood. Benefit Street provided the financing. Senior managing director Daniel Fromm, senior associate Samuel Speciale and analyst Lance Tillman of Newmark’s Global Debt & Structured Finance...
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MMCC Arranges Credit Union Financing for Three Central Valley Multifamily Properties
Marcus & Millichap Capital Corporation (MMCC) has arranged $12,062,500 in financing for three multifamily properties located in the Central Valley. The borrower was not disclosed. Senior managing director David Campbell, of MMCC’s Palo Alto office, secured the financing with a regional credit union on behalf of a private client. The loans feature a 10-year term,...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout