Tremont Realty Capital, the commercial real estate finance division of The RMR Group, has provided a $37 million loan for a student housing property in Maryland.
The recently originated $37.3 million first mortgage loan secured by Mazza Grandmarc, a 628-bed, 232-unit, student housing property in College Park. The property primarily serves students at the University of Maryland and benefits from strong enrollment-driven demand in the College Park market.
The loan has an initial term extending through November 2028 and two 12-month extension options. The deal was part of three new first mortgage loans totaling $101.3 million in transactions closed by Seven Hills Realty Trust.
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
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Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
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Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
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