Green River Builders and ARC Multifamily Group obtained a construction loan, allowing them to proceed with a 282-unit multifamily development in Monroe, Georgia. The $42.7 million loan is for The Jax, a garden-style apartment complex. Green River is based in…
M&T Realty Capital Corporation provided $38.71 million in financing for 29-17 40th Ave., a 103-unit affordable property in a Long Island City Qualified Opportunity Zone. Loan originators Matt Newton and Todd Trehubenko of the M&T RCC office in Boston arranged…
CMBS loan loss volume rose in January, with $246.9 million across 14 loans resolved for $167.0 million in total losses and an average loss severity of 67.63%. Trepp reported this was a significant uptick in loan loss volume from December,…
Alterra IOS has acquired over 300 sites nationwide, today announced the closing of $189 million in financing from Blackstone Mortgage Trust Inc. Justin Horowitz of Cooper Horowitz worked with Alterra IOS Venture III to market and source the financing. The…
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $148-million construction loan for Sutphin II, a planned 524-unit luxury high-rise apartment building in the Jamaica neighborhood of Queens. Steven Hersko of the SHB Group arranged the loan on behalf…
QuadReal Property Group has provided a construction loan to Core Spaces to finance the development of a student housing development at the University of Michigan in Ann Arbor. Hub Packard will provide 15 stories of purpose-built student accommodation totaling over…
Urban Street Development and Berkadia secured $38.5 million in permanent and construction financing to fund the expansion of the Hotel Indigo Tallahassee – CollegeTown. The project at 826 Gaines Street, is near Florida State University. Urban Street recently bought an…
The Brentmoor Apartments, located at 2080 Brentmoor Drive just outside the Beltline, sold for $45.6 million after the former owner, Silver Point Group, defaulted on the loan. St. Clair Holdings was the buyer. The Triangle Business Journal reports the company specializes…
MonticelloAM, a specialized multifamily and seniors housing bridge lending platform, closed an $87,150,000 bridge loan for 39 residential assisted living communities in Fresno. The borrower was not disclosed. Expanding its relationship with MonticelloAM, the borrower plans to use the bridge loan…
Marathon Asset Management’s commercial real estate platform has originated a $120-million construction loan for 125 Perry St., a high-end residential development in Manhattan’s West Village. A Marathon’ team led by managing director Joseph Griffin, closely worked with sponsor Alf Naman Development…
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