Business Specialties
Houston Property Receives $37M Refi
Arel Capital will use the senior loan provided by PCCP to refinance Bayou on the Bend, a 241-unit multifamily asset in the city’s Memorial neighborhood.
Carlyle Group, Stonehenge Land $235M Recap for NYC Tower
The newly formed joint venture will invest in upgrades to The Ritz Plaza, a 479-unit residential community in Times Square.
Wallick Secures $49M for Ohio Properties
Merchants Capital arranged the bridge financing for three assisted living properties totaling 363 units in Columbus and Cincinnati, as demand for affordable senior housing grows more acute.
Luxury San Diego Community Commands $149M
Berkadia handled the sale of the 374-unit property to Mission Gorge Investors, an entity controlled by R & V Management. The 2018-built asset was sold by Hanover Co.
Miami-Area Community Lands $46M Refi
HFF worked on behalf of the owner, Park Partners Residential, to secure the loan in which its proceeds will go towards refinancing the construction loan that was previously arranged for the property’s development in 2016.
Hines JV to Build 2.5 MSF North Carolina Project
Along with co-developers Columbia Development Group and USAA Real Estate, the firm is building Fenton, a 92-acre mixed-use project in the Raleigh-Durham area.
TruAmerica, Blackstone Buy 608-Unit Portfolio for $97M
For their second deal since forming a joint venture last year, the partners picked up a 368-unit community in central Las Vegas for $58 million, along with a 240-unit asset west of Atlanta.
Silverstone Breaks Ground on $75M NoVa Senior Community
The company will bring 124 assisted living and 30 memory care units to Metro West, a mixed-use, transit-oriented development in Fairfax County.
Freddie Mac Was Targeting Opportunity Zones Before They Existed
The government-sponsored enterprise found that its financing activity in what are now designated as qualified opportunity zones grew more than 75 percent faster than in other areas since 2010.
New Jersey Project Scores $45M Construction Loan
Kushner Real Estate Group broke ground on the 200-unit luxury multifamily community in Bayonne last summer and expects to finish in the spring of 2020.