News
CBRE Arranges Financing for Rent-Stabilized Midwood Multifamily
CBRE originated a $15-million loan for a 175-unit rent-stabilized multifamily property located at 430 and 499 E. 8th St. in the Midwood section of Brooklyn. The financing was secured on behalf of ARM Management through Four Leaf Credit Union. The CBRE Capital Markets team of Judah Hammer, Jeff Feldman and Jack Hayes arranged the refinancing...
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Davis Provides $44M Construction Financing for Downtown Residential Conversion
JLL Capital Markets announced today that it has arranged $44 million in financing for 31 Milk St., an adaptive reuse multifamily redevelopment in Downtown Boston. Managing director Anthony Cutone, director Madeline Joyce and associates Michael Schwarze and Joe Marinaro represented the borrower, Dinosaur Capital Partners and Mugar Enterprises. The three-year, senior construction loan was provided...
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Jonathan Rose Makes Second Acquisition in Santa Cruz
Jonathan Rose Companies has acquired La Posada Apartments, a 150-unit, mixed-income community located at 609 Frederick St. in Santa Cruz. The $85-million transaction marks the ninth acquisition for the Rose Affordable Housing Preservation Fund VI and the firm’s second property in Santa Cruz. In line with its longstanding mission to preserve existing affordable housing, Jonathan Rose Companies acquired the property...
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Vacant Fulton Market Building Sells Ahead of Planned MXU Redevelopment
CBRE represented the seller in the $2.75 million sale of 167 N. Morgan St., a vacant three-story industrial building in Chicago’s Fulton Market neighborhood. The buyer, Hubbard Street Group, plans to redevelop the property into a mixed-use building with 20 apartments above approximately 3,300 square feet of ground-floor retail. The property sits in the heart...
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Northmarq Arranges $25M Acquisition Financing for Washington For-Rent Townhome Property
Northmarq’s Seattle Debt + Equity team, led by Robert Spiro and Ben Biggers, arranged $25.5 million in acquisition financing for Chambers Reserve, a 125-unit luxury rental townhome community at 3725 Wildspitz Lane SE in Lacey, Washington. Northmarq arranged the permanent, fixed-rate loan through Freddie Mac on behalf of the borrower. The loan carries a seven-year term....
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Boardwalk Sells 210-Unit Grande Prairie Portfolio For $30.2M
Boardwalk REIT has found another private-market buyer for a piece of its older apartment portfolio, selling eight Grande Prairie properties for $30.2M as it continues to recycle capital into its remaining assets and its own units. The 210-suite Northern Lights portfolio closed in September at $144K per suite and a 7.4% exit cap rate. The...
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Hunington Closes on Construction Loan for 279-Unit Katy Apartment Development
Hunington Properties secured its financing, enabling it to begin work on The Vic at Sunterra, a 279-unit multifamily community in Katy. The $47 million, HUD 221(d)(4) non-recourse financing provides a high loan-to-cost ratio and substantial proceeds, with a 24-month interest-only period, followed by a fully amortizing 40-year term providing the borrower long-term stability and predictable...
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Charlotte-Area Apartment Owner Inks $64M Refi
Signature Property Group refinanced Elevate Rocky River, a 360-unit rental community near Charlotte. Regions Bank arranged the $64 million Freddie Mac Loan. The loan replaces a prior construction loan, following property stabilization, with a permanent debt solution. The community, in Monroe, North Carolina, offers one- and two-bedroom floor plans, is pet-friendly, and features modern, refined...
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
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