Dwight Capital Finances $60M Loan for Iowa Multifamily Community
Dwight Capital has closed a $60 million HUD 223(f) refinance for Birchwood Grove, a newly developed 194-unit townhome community in Davenport, Iowa.
Birchwood Grove is comprised of 56 two- and three-story townhouse buildings, along with a separate community building that houses a clubhouse, leasing office, and 4,800 square feet of ground-floor commercial space. Located at 5101 Ravenwood Lane, the property is in close proximity to walkable amenities, shopping, restaurants and offers easy access to Interstate 74 and 80.
Loan proceeds will retire existing debt, cover closing costs, fund a replacement reserve for future capital improvements, and allow the borrower to draw on equity accumulated since the original construction financing. The transaction was originated by Josh Hoffman and Jonathan Pomper on behalf of the borrower, Kevin Dolan, of Dolan Homes LLC.
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Walker & Dunlop Arranges $87M Refinancing for Scott’s Addition Property
Walker & Dunlop, Inc. has arranged $86.5 million in bridge financing for Chasen, a new 352-unit multifamily community in the Scott’s Addition neighborhood of Richmond, Virginia. The property is located in a Qualified Opportunity Zone. Walker & Dunlop Capital Markets Real Estate Finance arranged the loan on behalf of Capital Square. Alexandra Huffman, Justin Nelson,...
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Hine Acquires Dallas Apartments, Retail for $170.5M
The Bishop Arts Portfolio is one of three properties Hines recently bought through its Hines Global Income Trust (HGIT). The Dallas property features a mixed-use property with 539 multifamily units and approximately 49,000 square feet of high-street retail. The multifamily assets are approximately 95% leased and the retail space is 98% leased, with 22 tenants comprising...
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Intracorp Lands $173M Loan for Austin Condo Project
Intracorp has begun construction on a condo project along South Congress Avenue after securing a $173 million construction loan. The construction loan was provided by BGO. Leifer Properties is a co-developer on the project, and Northland Properties and Aron Industries are project partners. The Austin Business Journal reports that, per the approved site plan, Leland...
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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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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