KeyBank Community Development Lending and Investment (CDLI) provided a $16.5 million taxable construction loan, a $9.4 million federal LIHTC equity investment, and a $8.2 million state LIHTC investment on behalf of National Church Residences to finance the construction of Clover Glen II, a 96-unit affordable housing project for seniors in Galloway, Ohio. KeyBank Commercial Mortgage...
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Mesa West Capital has provided an $82.5 million first mortgage loan to a joint venture between Harrison Street Asset Management and Security Properties to refinance Olin Fields, a 352-unit garden-style apartment community in the Seattle suburb of Everett, Washington. The five-year, non-recourse financing was arranged by Jesse Weber, Scott Williams, and Kevin Coyle out of...
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Charney Companies, Tavros and Incoco Capital closed on the construction capitalization for 175 Third St., the fifth building in the Gowanus Wharf campus. Apollo and Affinius Capital LLC are providing $600 million in debt. RXR is providing $185 million in equity. When completed, 175 Third St. will be the largest building in Gowanus, with approximately 1.1 million square feet and...
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Joanne McNamara will leave Oxford Properties to become CEO of British Land. McNamara serves as Toronto-based Oxford’s executive vice-president for Europe. She joined Oxford in 2010 and has more than 20 years of real estate industry experience. Due to a maximum six-month notice period, McNamara is expected to join British Land by November 30 at...
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Minto Group is looking to develop more townhome projects throughout the Greater Toronto Area after launching Urban Towns project in Oshawa, Ont. Launched in late May, the two-storey condominium offering is located in the Heights of Harmony community in North Oshawa. Prices start at $399,000. The launch offers “a realistic path” to home ownership for...
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Forman Capital closed a $28.2 million lot development loan for The Highlands, a planned 253-acre mixed-use community located along Manzano Mile at FM 1431 in Marble Falls, just outside Austin. The borrower and developer is Rockspring. The Highlands stretches along Manzano Mile, encompassing single-family homes, rental apartments and retail commercial uses on undeveloped land. The Forman Capital loan will fund horizontal development in advance of...
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A group headed by Immo Alliances has acquired a Montreal 25-building apartment portfolio, says a published report. The portfolio in Montreal’s Notre-Dame-de-Grâce neighbourhood spans 25 buildings containing 248 units, along with two redevelopment sites folloing a fire at 2012-2022 Westmore Avenue, according to the report, which states that the group bought the properties from family-owned...
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Goldman Sachs acquired Broadstone Seventh Street, a 258-unit multifamily property in Phoenix. Commercial Search reports Alliance Residential Co. sold the asset for $81.4 million. Alliance developed the community and brought it online in 2025, with ORB Architecture overseeing the design. Previously called Broadstone on Seventh, the five-story community stretches across a 3-acre site at 5727...
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