News
Corebridge, CBRE IM Recapitalize Class A Multifamily Portfolio
Corebridge Real Estate Investors (CREI) has recapitalized a joint venture with a gross asset value of $670 million. Terms were not disclosed. The portfolio includes six Class A apartment buildings, totaling 1,990 units with a 95% occupancy rate. The new institutional investor, CBRE Investment Management, will hold a 44.5% stake alongside CREI in the properties,...
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500 Acres of Commercial Real Estate Planned for Montgomery County
AIRIA Development Company will host a grand opening for a 5,700-acre master-planned community in Todd Mission, Montgomery County in early June. Called Colton, the development will be 45 minutes from downtown Houston and College Station. Thanks to its four-mile frontage along SH 249, Colton offers direct access to The Woodlands, Conroe, and surrounding areas. It’s...
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Tucson Investor Converting Apartments to Condos
Vertical Street Ventures obtained a refinancing on Redondo Tower, a 96-unit high-rise residential condominium property located in downtown Tucson. Berkadia’s Vin Basa secured a $26 million cash-neutral refinancing through a debt fund on behalf of Vertical Street. The condo inventory loan featured a full-term interest-only schedule and was sized at 65% loan-to-value based on the...
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Nashville Project Sponsors Obtain Bridge Loan
The Congress Group and Taurus Investment Holdings have obtained a $25 million bridge loan for Park Place Equinox, a development in Downtown Nashville. Concord Summit Capital financed the loan, refinancing an existing acquisition facility and providing pre-development funding to support final design and entitlement work for the mixed-use project. Park Place is a master-planned development...
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13th Floor Lands Funding for Miami Transit-Oriented Project
13th Floor Investments, in partnership with Barings, has secured a $125 million construction loan from a syndicate of Santander Bank and TD Bank to finance the development of CADENCE, a new transit-oriented multifamily project near US-1 and Douglas Road in Miami. Now under construction, the 35-story tower will include 432 market-rate apartments,12.5% of which will be...
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Navarre Apartment Developer Inks $47M Refi
Branch Properties obtained a $47 million loan to refinance Elevate Navarre, a new 332-unit multifamily community in Navarre. CBRE’s Blake Cohen arranged the three-year fixed-rate, interest-only loan on behalf of the sponsor/ developer. Voya Investment Management provided the loan, which the sponsor will use to refinance its existing construction loan. Located at 1900 Elevate Avenue, the...
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Charlotte Apartment Developers Close on $48M Construction Loan
Capital City Real Estate and Pennington Real Estate Partners obtained a $48 million construction loan for The Mill, a 281-unit multifamily development in Charlotte’s NoDa neighborhood. Concord Summit Capital’s Justin Neelis arranged the financing, which represents a 62% loan-to-cost (LTC) structure. The project will offer a mix of studio, one-, and two-bedroom units with an...
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La Costa Apartment Acquisition Nabs $87M Loan
Walker & Dunlop, Inc. arranged the $87.2-million acquisition financing for Santa Fe Ranch Apartments, a 320-unit garden-style conventional multifamily property in the coastal submarket of La Costa. A Walker & Dunlop Capital Markets team led by Mark Grace and John Montakab arranged the interest-only, fixed-rate loan on behalf of an institutional investment group, with Freddie Mac providing the capital. Santa Fe...
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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