News

Dwight Capital Closes $110M HUD Loan for Newark Multifamily

New York & Tri-State + Apartment Buildings

Dwight Capital closed a $110-million HUD 223(f) loan for 55 Union, a newly constructed 403-unit multifamily community in Newark, NJ. Managing directors Josh Hoffman and Jonathan Pomper originated the transaction on behalf of the borrower, locally based J&L Companies. Loan proceeds were used to retire existing debt, fund closing costs, establish a replacement reserve, and allow the borrower to access equity recaptured...

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Lurie Signs Bill Establishing Downtown Tax Incentive District

California & West + Apartment Buildings

San Francisco Mayor Daniel Lurie signed legislation establishing a tax incentive district to support the conversion of vacant and underutilized downtown offices and commercial buildings into housing. The financing plan projects that approximately 50 properties could currently be suitable candidates for conversion, creating up to 4,400 apartment units. Lurie said the new plan builds on the Heart of the City initiative introduced last fall to accelerate downtown’s comeback. “This new financing district...

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Cadillac Fairview to Open First Project Under Residential Program

Canada + Apartment Buildings

Cadillac Fairview will officially open the first completed project under its residential program Wednesday in downtown Montreal. CF will celebrate the grand opening of Carré Windsor, a 512-unit rental-apartment building located at 1114 Rue Saint-Antoine Ouest. The company launched its residential program in 2022. The milestone reflects the ongoing evolution of company’s portfolio and long-term vision...

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Peakhill Project Advisory Launches Public Sector Division, Expands Infrastructure Focus

Canada + Apartment Buildings

Peakhill Project Advisory has launched a dedicated public-sector division, expanding its platform as demand grows across Canada’s infrastructure and major projects landscape. The new platform will provide strategic, commercial and delivery-focused advisory services, supporting clients through project strategy, management and procurement. The move reflects rising expectations around transparency, risk management and accountability in public-sector development,...

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Interra Realty Brokers $14M Sale of Vintage Lakeview Apartment Building

Chicago & Midwest + Apartment Buildings

Interra Realty brokered the sale of a 50-unit multifamily building in Chicago’s Lakeview neighborhood. Interra Senior Managing Partner Joe Smazal represented the buyer, JAB Real Estate. Smazal also represented the confidential seller. This is the first time the asset has traded hands in 20 years. Built in 1927, the courtyard building features 13 studio, 24...

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CBRE Arranges Sale of 144-Unit Multifamily Property in Milwaukee

Chicago & Midwest + Apartment Buildings

CBRE has arranged the sale of Sunset Ridge, a 144-unit multifamily property in Milwaukee. Rio Realty LLC purchased the property from Weidner Apartment Homes for an undisclosed amount. CBRE’s Matson Holbrook, Gretchen Richards, Sean Beuche and Patrick Gallagher represented the seller in the transaction. Steve Kundert of CBRE Capital Markets’ Debt and Structured Finance team...

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RXR, NC Investment Authority Team for Structured Equity Solutions

Apartment Buildings

Real estate investment manager RXR has launched a $500-million strategic discretionary separate account with the North Carolina Investment Authority (NCIA) to provide structured equity solutions for more than $2 billion of high-quality residential development and transitional real estate projects across the U.S. Investments will be made via RXR’s capital solutions platform. The partnership is seeded by...

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Oaktree Funds Provide Refi on UC Berkeley Student Housing

Student Housing

JLL Capital Markets recently arranged refinancing for IDENTITY Logan Park, a two-phase student housing community totaling 720 beds serving University of California, Berkeley students. JLL represented the borrower, Article Student Living, an operating platform of QuadReal Property Group, in securing financing with funds managed by Oaktree Capital Management, L.P. Completed in 2023, IDENTITY Logan Park I and II are located...

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