What happened, and who moved.
Associated Bank announced the completion of a $28.35 million loan to a joint venture of North Park Ventures and SNS Realty Group for development of a new transit-oriented residential development in Chicago. The loan included funds for acquisition of the former Tortenson Glass Co. which consists of nearly 30,000…
A joint venture between the Dinerstein Companies and PGIM has secured $81 million to refinance Atlas Peakview, a 330-unit multifamily complex that recently opened outside Denver, Colo., Commercial Observer can first report. Mesa West Capital provided the debt, structured as a short-term, first-mortgage loan, while…
Cerberus Capital Management has acquired a $1.3-billion loam book with heavy exposure to rent-regulated apartments in New York City, Bloomberg News reported. The seller was OceanFirst Financial Corp., which priced the loans at about 92 cents on the dollar. With about $736 million of the $1.3-billion portfolio tied…
BALTIMORE — CFG has provide a $70.8 million bridge loan for the acquisition of a skilled nursing portfolio located in Ohio. The portfolio totals 418 beds across five properties. Andrew Jones… The post CFG Provides $70.8M Bridge Loan for Ohio Skilled Nursing Portfolio appeared first on Seniors Housing Business .
APREA and JSB Capital Group closed on a $202 million construction financing package with Bayview Commercial Mortgage Finance (BCMF) on The Avenue. The funding includes includes $109 million of C-PACE financing and a $93 million traditional construction loan. The milestone kickstarts construction of the mixed-use…
Wholesale product company EXP Group has landed $47 million of permanent debt to refinance an industrial asset in northern New Jersey, Commercial Observer has learned. Citizens Bank provided the loan on the 300,015-square-foot logistics property at 2500 83rd Street in North Bergen, N.J. Ripco Real Estate arranged…
Seoul's Housing Affordability Index hit 179.3 in Q1, the highest in over three years, meaning median-income households must spend about 46% of monthly income on home loan repayments.
SUGAR LAND, TEXAS — Tremont Realty Capital, a division of Boston-based investment firm RMR Group, has provided a $22.7 million loan for the refinancing of Sugar Land Medical Plaza, a 120,000-square-foot healthcare property located on the southwestern outskirts of Houston. Colliers arranged the loan on behalf of the…
NEW YORK CITY — JLL has arranged a $58 million loan for the refinancing of 1333 Broadway, a mixed-use property in the Bushwick neighborhood of Brooklyn. Completed in April, the 20-story, 97,526-square-foot building houses 74 market-rate apartments, 32 affordable apartments and 29,000 square feet of commercial…
Granit Pólus Group has completed the refinancing of the Westend mixed-use complex with a EUR 290 mln green loan, marking the largest real estate refinancing transaction in Hungary over the past five years and setting a new record for financing secured by a single property in the country.
DALLAS — Conor Commercial Real Estate and Globe Corp. have obtained a $78.7 million takeout loan for The Flynn at Live Oak, a five-story, 327-unit property in Dallas that was… The post Conor Commercial, Globe Corp. Secure $78.7M Takeout Loan for Dallas Luxury Development appeared first on Multifamily & Affordable…
Rexford Industrial Realty plans to sell off up to $2B of its portfolio, using the proceeds to pay off debt that is set to mature next year. Rexford increased its full-year 2026 disposition guidance to $1.5B to $2B, according to second-quarter filings...
Affiliated Development started construction on a Live Local Act project in Fort Lauderdale after scoring a $74 million construction loan. Pacific Life Insurance Company provided financing for The Cove, an eight-story, 376-unit development at 1055 North Federal Highway. The project is also being capitalized with…
Affiliated Development has closed on a $74 million construction loan with Pacific Life Insurance Company for The Cove, a mixed-use, mixed-income multifamily development on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Just over half of the 374 units will be restricted to families…
The Cove will rise on the site of a former hotel property, delivering 376 residential units in an eight-story building with structured parking.
Northmarq’s New York Metro Debt + Equity team led by Robert Delitsky and Keith Braddish arranged the $15-million refinance of Atlantic Plaza Shopping Center. The 34,949-square-foot, multi-tenant anchored center is located at 102-20 Atlantic Avenue in the Ozone Park section of Queens. Northmarq arranged the…
Merchants Capital announced the closing of Merchants Capital Tax Credit Equity Fund 31, a $160 million multi-investor fund with 10 institutional investors. Merchants Fund 31 will infuse equity into nine affordable housing properties, creating or preserving more than 1,400 affordable homes in Rhode Island, Ohio,…
A $37M construction loan will help bring more new apartments to a Philadelphia multifamily submarket that has experienced a development surge.
Tidal Real Estate Partners is “waving” hello to the opportunity to convert a Savannah, Ga., multifamily building into a Margaritaville-branded hotel. The New York City development firm just sealed $113 million of bridge debt to recapitalize and repurpose the 2023-built Ann Street Lofts property into the 230-key…
Controversial father-son landlord duo Raphael and John Lowenstein took center stage in Cook County’s June foreclosure filings. After offloading a Kenwood apartment complex earlier this year amid mounting distress in their real estate portfolios, the Lowensteins are now facing nearly $55 million in combined…
Northlink Capital has secured $85 million of construction financing to develop a Miami Beach luxury condominium project, Commercial Observer has learned. Deutsche Bank provided the loan, which will refinance past debt and fund ground-up construction of the 12-story condo tower at 7200 Collins Avenue in Miami…
Golden Horizons Enterprises inked a $73.1 bridge loan on Merrick on Camelback, a 334-unit built-to-rent community in Phoenix, Arizona. The financing was arranged by Lument and originated by Arcus Real Estate Capital. The bridge loan has a three-year term with two one-year extension options. Golden Horizon…
Acquisition expands New Silver Lending’s reach into New England's fix-and-flip and construction lending market Acquisition expands New Silver Lending’s reach into New England's fix-and-flip and construction lending market
DES MOINES, IOWA — Foss & Co., a tax credit syndicator, has secured financing for the Financial Center, a 25-story office tower in downtown Des Moines. Developed by Lawmark Capital, the project will convert the building into 209 market-rate apartment units and 152,000 square feet of commercial space, generating…
IRVING, TEXAS — Lone Star PACE has provided an $11.6 million C-PACE (Commercial Property Assessed Clean Energy) loan for a data center conversion project in Irving. The project centers on the conversion of the vacant, 113,406-square-foot industrial flex building at 6001 Campus Circle Drive W, which was built on 4.7…
LOS ANGELES — Walker & Dunlop has arranged a $28.9 million loan to refinance Billy G. Mills Manor, an affordable housing community in Los Angeles. Walker & Dunlop’s Jeff Kearns… The post Watt Capital Developers Secures Refinancing, HAP Contract Renewal for Los Angeles Affordable Housing appeared first on…
Nashville is the nation’s second-strongest buyer’s market with 129% more home sellers than buyers in June. In other words, Nashville has more than two home sellers for every buyer actively in the market. Years of steady homebuilding, fast home-price appreciation and higher mortgage rates have shifted Nashville’s…
Gránit Pólus Group has closed a €290 million green loan refinancing of the Westend building complex in Budapest, described as the largest real-estate refinancing transaction in Hungary in the past five years and a record for a single property. The financing is provided by a bank consortium led by Erste Bank Hungary…
A 110K SF Main Line office park has been refinanced via a nonrecourse loan. Sponsor Balashine Properties secured the $17.8M loan for Swedesford Crossing at 480-500 Swedesford Road in Wayne. It was originated by Morgan Stanley and coordinated by D2 Capital...
KB Kookmin Bank nearly tripled its real estate PF credit support to 3.376 trillion won in H1 2025, accounting for 40.6% of Korea's four major banks, to back redevelopment projects.
One of real estate’s favorite lenders continued to turn its back on the industry during the second quarter. Arkansas-based Bank OZK dropped the real estate exposure in its overall loan book to 47 percent in the second quarter, Bisnow reported, below its historic norms. The real estate exposure was down 5 percentage…
Legal troubles for Chicago real estate investor Jiazhao “Frank” Chen are multiplying as the South Side landlord was named in another foreclosure lawsuit filed late last week involving three Bridgeport properties. The lawsuit is over a defaulted loan payment of nearly $820,000 against Best Credit Investment LLC, an…
Aprea Development and JSB Capital Group landed a $202 million construction financing package for The Avenue, a luxury mixed-use development in downtown Naples. Bayview Commercial Mortgage Finance provided the package, which includes a $93 million traditional construction loan and $109 million of C-PACE financing,…
The financing was secured by a portfolio of 99 IOS properties totaling 551 usable acres and nearly 2.1 million square feet of accompanying warehouse space. (Credit: Alterra IOS)
Banks returned to commercial real estate lending in the first quarter after years of eschewing the industry. To the delight of developers and owners, the trend has continued. A handful of major banks made substantive increases to their commercial real estate loan balances from April to June, the Wall Street Journal…
The “year of transition” for KKR’s real estate lending arm may see it transition out of the parent company’s purview altogether. The board of directors for KKR Real Estate Finance Trust is exploring strategic alternatives, Bisnow reported, as noted in the entity’s second-quarter earnings report. That could signal a…
Apollo Global Management introduces AMAPS, a structured credit vehicle designed to finance industrial and innovation-focused sectors.
Cerberus buys $1.3 billion New York multifamily loan book at 92 cents on the dollar as regional banks accelerate exits from rent-regulated portfolios. The post Distressed Multifamily Debt Finds Buyers as Banks Exit New York Portfolios appeared first on Propmodo .
Breakthrough Properties and Tishman Speyer announced a joint investment in a $90-million mezzanine bridge loan for Aperture Del Mar, a newly constructed, 538,000-square-foot Class A life science campus in San Diego. The borrower, Gemdale USA, will use the proceeds to refinance an existing loan. The four-building…
Greystone has provided a total of $91,851,000 in Fannie Mae loans to refinance and acquire three affordable housing communities located in New York. The financing was originated by senior managing director Eric Rosenstock and EVP Jeff Englund on behalf of Metropolitan Realty Group. The financing includes three…
Keller Investment Properties will refinance a 13-property portfolio through a $718.5 million CMBS loan. Six are in Utah, four in Nevada and three in Arizona. Multihousing News reports that a Nomura affiliate will provide a two-year, floating-rate, interest-only loan. Approximately $696.3 million will refinance…
Developer Jeff Svitak has landed $34.25 million of bridge debt for a newly completed San Diego multifamily project, Commercial Observer has learned. Lightstone Capital originated the senior loan for Svitak’s Kaya Apartments development in San Diego’s Bankers Hill neighborhood. John Zubak, managing director and head…
NEW YORK CITY — M&T Realty Capital Corp. has provided a $141.4 million bridge loan for the refinancing of Anagram Turtle Bay, a 194-unit apartment building located at 300 E. 50th St. in Manhattan. Designed by BKSK Architects, the 23-story building houses studio, one-, two- and three-bedroom units, as well as…
Trilogy Real Estate Group has received a $64 million construction loan for the development of The Albion, a 325-unit apartment community being built in Valrico, Fla. The project, located 14 miles east of downtown Tampa, is slated for delivery in the fourth quarter of 2028. Multihousing News reports the financing is…
Amazon’s commitment to fully occupy one of the three towers securing Jay Paul Company’s $770 million Moffett Towers mortgage removes the single largest cloud hanging over a loan that Morningstar DBRS had flagged for mounting vacancy risk after Google walked away. Amazon has leased an entire 317,000-square-foot…
LOS ANGELES — Walker & Dunlop has arranged a $28.9 million loan for the refinancing of Billy G. Mills Manor, an affordable housing complex next to the University of Southern California in Los Angeles. Jeff Kearns and Laura Woltanski of Walker & Dunlop secured the refinancing through HUD/FHA’s Section 223(f) loan…
SAN DIEGO — Breakthrough Properties and Tishman Speyer have provided a $90 million mezzanine bridge loan for Aperture Del Mar, a Class A life sciences campus in San Diego. The borrower, Gemdale USA, will use the proceeds to refinance an existing loan. Totaling 538,000 square feet, the four-building lab and office…
The life sciences boom isn’t finished yet. Gemdale USA has secured $90 million in mezzanine debt to refinance Aperture Del Mar, a 538,000-square-foot Class A life science campus that recently opened in San Diego, Calif. Tishman Speyer and Bellco Capital, through their Breakthrough Properties joint venture vehicle,…
GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the refinancing of Everly at Morrison Ranch… The post PCCP Provides $51.8M Refinancing Loan for Everly at Morrison Ranch in Metro Phoenix appeared first on Multifamily & Affordable…
Korea's FSC plans to ease group loan caps for housing supply while cutting the jeonse loan public guarantee ratio to 70% and restricting non-resident single-home owners, with measures due by the 30th.
As it approaches its first birthday, Nomura Securities’ commercial real estate lending platform has an extra reason to celebrate: It just sealed the largest sole-bank single-asset, single-borrower commercial mortgage-backed securities (SASB CMBS) deal in almost two years. The $719 million KELR 2026-MF deal is…
M&T Realty Capital Corporation (M&T RCC) closed on a $141.4-million bridge loan for Anagram Turtle Bay, a newly constructed 194-unit multifamily community located at 300 E. 50th Stt. in Manhattan’s Turtle Bay neighborhood. The financing was provided to an ownership group led by Global Holdings, MAG Partners, and…
RIPCO Real Estate announced it has successfully arranged a $28.3 million bridge loan for The Arbor College Park, a 134-unit multifamily community located at 4800 Berwyn House Road in College Park, Maryland. The financing represents a modified bridge upsizing with RMWC, the same lender that provided the property’s…
Associated Bank announced the completion of a $6.98 million term loan to Transport Properties and GFH Partners to finance a 75,250-square-foot industrial building located at 3003 Etna Parkway in Pataskala, Ohio, 20 miles west of Columbus. The building, completed in 2022 and leased to Thayer Power & Communication,…
Metropolitan Realty Group has sealed $46.8 million of agency debt for the acquisition and refinancing of a Long Island affordable housing complex, Commercial Observer has learned. Greystone provided the nonrecourse, fixed-rate Fannie Mae-backed loan on the developer’s Pine Town Houses Section 8 garden-style…
ABILENE, TEXAS — New York City-based Dwight Capital has provided a $66 million HUD-insured construction loan for The Lariat at Abilene, a 312-unit multifamily project in West Texas. Situated on 13 acres, the garden-style property will comprise 13 three-story buildings that will house 186 one-bedroom units and 126…
Trepp Inc. has reported mixed data on CMBS distress levels lately. The volume of private-label securitized loans that are at least 30 days late declined by $3.49 billion, or 3.7%, in June. Conversely, while the volume of CMBS delinquencies shrunk to $43.98 billion, or 7.35% of the overall CMBS universe, the volume…
A New York distressed-debt specialist has taken control of the buildable heart of San Francisco’s largest apartment complex, using a construction loan it never got repaid to foreclose on land approved for nearly 1,700 new homes. Yellowstone Real Estate Investments has completed a foreclosure takeover of the…
First-Citizens Bank has started foreclosure proceedings against two prime Union Square retail buildings after their owner failed to repay a matured $40 million loan, with the lender now claiming more than $40.1 million due on collateral that sits at the doorstep of San Francisco’s marquee shopping district. A…
Argentine government announces deregulatory measures aimed at easing securitization of mortgage loan portfolios to stimulate housing credit activity.