Deals
Berkadia Closes 2 Deals Totaling $100M
The brokerage originated a $31.7 million construction loan through HUD for a 232-unit community in Florida and sold a 414-residence townhome property for $68.9 million in Virginia.
First Communities Buys Birmingham Apartments for $38M
Grandbridge Real Estate Capital provided more than $26 million in financing through Freddie Mac for the acquisition of the 431-unit community.
2 Phoenix-Area Developments Secure $54M Financing
PCCP LLC provided the two senior loans that will be used to construct IDM Estrella Parkway in Goodyear, and IDM Cooley Station in Gilbert, Ariz.
JV Lands $54M Refi for Connecticut Portfolio
CBRE’s Debt & Structured Finance group arranged the financing, which was provided by Thorofare Capital, to retire the original senior construction loan for Berkeley at Waypointe and Quincy Lofts, located in Norwalk.
JDS Lands $664M Loan to Build Brooklyn’s Tallest Tower
The developer is moving forward with construction of the 575-unit residential skyscraper, which will rise 1,066 feet upon completion, making it the loftiest New York City building outside of Manhattan.
WashREIT Closes First Tranche of $461M Multifamily Deal
The trust paid $379.1 million to acquire five communities totaling 1,685 units in Northern Virginia, as part of a larger portfolio acquisition that will be funded through the sale of office and retail assets.
Vegas Community Trades for $14M
The seller, Strategic Realty Capital, had acquired the 146-unit Class C multifamily asset in 2010 as part of a 475-unit portfolio transaction.
Richmond-Area Community Commands $46M
Colliers International represented a joint venture between McCann Realty Partners and Artemis Real Estate Partners in the sale of the 294-unit Hickory Creek Apartments.
KeyBank Originates $66M in Financing for NY Senior Housing Assets
The lender’s Healthcare Group arranged a $45.8 million first mortgage and a $20.1 million first mortgage through Freddie Mac to refinance two properties.
Exact Capital Rehabs 29 Central Harlem Properties
The firm teamed with Harlem Congregations for Community Improvement Inc. and received private and city funding to help pay for the $26 million in renovations.