Northmarq Debt + Equity team led by Chris Hammel arranged the $38 million new construction financing for Evolve Crossing, a 210-unit, Class A multifamily development well-located in Burlington, North Carolina. 

Northmarq arranged financing for the borrower, Evolve Companies, through its relationship with CrossHarbor Capital Partners. 

Planned for completion in 2028, Evolve Crossing will be a Class A, garden-style apartment community featuring one-, two- and three‑bedroom residences with high-end fixtures and finishes. Community amenities will include a resort-style pool with lounge, outdoor kitchens, ample parking, co-working space, full gym with a yoga studio, dog park with pet spa station, and welcoming common areas.

Northmarq recently arranged construction financing for Evolve Companies’ Evolve Wynwood project in Miami. On its website, Evolve says it selects, acquires, develops and constructs properties all over the Southeast.

13th Floor Investments has broken ground on “Venture on the Trail” – a 222-unit garden-style multifamily community in Greenville, South Carolina. Located at 301 Alston Street, the development marks the first phase of 13th Floor’s “On the Trail” mixed-use development slated to rise on 250 acres. CIBC provided $47 million in construction financing to kick-start the project’s development, which is now under construction and slated for completion in 2027. 

Apartments at Venture on the Trail will range from studios- to three-bedroom units measuring between 600 and 1,350 square feet in size.

Community amenities will include a standalone clubhouse, a resort-style pool, two pickleball courts, co-working spaces, an expansive fitness center, and an oversized bike room, with the standout amenity being direct access to the Swamp Rabbit Trail. 

The “On the Trail” property is entitled to accommodate a mix of residential, commercial, retail, and hospitality uses, with future phases currently in planning.

BLDG Real Estate and The Fellowship Family closed on $100 million in financing for the 205-unit Fellowship Wildlight in Nassau County.

The Jacksonville Business Journal reports the financing team for the venture includes Peachtree Group, Florida Development Finance Corporation, Farmers & Merchants Bank, a Greystone fund and Promus Realty.  

Fellowship Wildlight will be located within Rayonier’s 24,000-acre Wildlight community and will have eight cottages, 24 memory care units, 48 assisted living units and 125 independent living units.

The project team for Fellowship Wildlight includes Elkins Construction as general contractor, Stewart & Conners as the architect.

This marks the third Fellowship senior living community in Northeast Florida. BLDG Real Estate and The Fellowship Family acquired and repositioned a 43-unit senior community, Fellowship Amelia Island, in April 2025. In August 2025, The Fellowship Family and BDG Real Estate acquired Fellowship Cove at Marsh Landing, a 101-unit community in Ponte Vedra Beach.

TMGOC Ventures inked a $104.5 million loan to facilitate the construction financing for the Ritz-Carlton Savannah, a 15-story luxury hotel located in the heart of Savannah’s Historic District.

Walker & Dunlop Capital Markets Institutional Advisory and Walker & Dunlop Hospitality Advisory partnered to arrange the transaction for TMGOC Ventures. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Ari Hirt, Sean Reimer, and Jason Schwartzberg of the Advisory team arranged the capital provided by The LCP Group.

TMGOC will also utilize federal and state historic rehabilitation tax credit programs, allowing for tax credits for qualified expenditures and local property tax abatement programs.

Upon completion, the hotel will comprise the historic redevelopment of the two existing office buildings into a 168-key Ritz-Carlton hotel. Originally constructed in 1911, the property holds the distinction of being downtown Savannah’s first skyscraper, its tallest building, and a designated historic structure.

The property is situated in Savannah’s Historic District.

April 8^th (Scottsdale, AZ) How PHX Deals are Getting Done Today | Submarkets, Supply & the Next Phase of Growth | Owning, Developing & Repositioning Assets:  Join CRE’s leading developers, investors, owners, operators, advisors and more at Connect Phoenix Multifamily, SFR & BTR | Wednesday, April 8^th at The Westin Kierland Resort & Spa, Scottsdale | www.ConnectPHXMF2026.com

JLL Capital Markets arranged a $34.115-million construction-to-perm loan for SixSixty, a Class A medical building totaling 124,076 square feet in downtown Sacramento. Senior managing directors Jeff Sause and John Chun worked on behalf of the borrower, the joint venture of Revitate’s opportunity zone platform, RevOZ Capital and Argosy Real Estate Partners, to secure the seven-year loan through Siemens Financial Services.

SixSixty is located at 660 J St. in Sacramento’s Downtown Commons entertainment and lifestyle district. The area has benefitted from a substantial transformation over the past decade through the development of the award-winning Golden1 Center and Downtown Commons retail and entertainment district, among other attractions and luxury hospitality destinations, according to JLL.

Originally built in 1984, SixSixty was fully renovated following the borrower’s 2020 acquisition. 97% of the property’s rentable square footage was recently leased to one of the largest health systems in the nation.

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 Monroe, about 20 minutes east of Atlanta.

Blake Cohen and Charlie Clark with CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the borrowers. Peachtree Group provided the two-and-a-half-year full-term, interest-only loan at approximately 74% loan-to-cost. The loan was also structured with an earnout based on completion and leasing hurdles.

Located at 200 Aycock Avenue, the project will comprise seven three-story residential buildings with one-, two-, and three-bedroom floorplans averaging 1,117 square feet. Community amenities include a business center, clubhouse, pool, fitness center, volleyball court, picnic area, EV charging, and a breakfast/coffee concierge.

ARC Multifamily invests in multifamily properties throughout the Southeast United States. 

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 the Freddie Mac Targeted Affordable Housing loan on behalf of The Davis Companies, SB Development and Hazelton Capital Group.

“By working closely with the sponsors and Freddie Mac’s Targeted Affordable Housing group in this challenging interest rate environment, we were able to execute on a timeline that fit the needs of the sponsors’ business plan for this Opportunity Zone project,” said Newton. “The dedication from all parties was crucial in getting this deal across the finish line.”

Twelve of the units at 29-17 40th Ave. will be restricted to tenants earning 130% of the Area Median Income and 19 will be restricted to those earning 80%.

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, when losses were just $71.8 million. It was the largest monthly loan loss total since last September, according to Trepp data.

The 12-month moving average monthly disposed balance decreased to $204.4 million in January, down from the $252.8 million a month prior. The 12-month moving average loss severity inched up to 62.65%, from the 62.38% recorded in December.

Although the overall disposed loan total was below the previous 12-month moving average, the average loss and average loss severity was above the previous moving average. Over the past 12 months, the highest monthly loss severity was recorded last April at 81.47%, while the lowest was 51.3% in July.

Pictured: Kitsap Mall in Silverdale, WA, the largest CMBS loan to be resolved at a loss in January.

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 funding was secured for assets acquired in Alterra’s latest venture. Alterra has now secured over $1 billion in lender financing for the fund, which closed in May 2024 at $925 million in total commitments, exceeding the original fundraising goal of $750 million and reaching its hard cap.

The funding from Blackstone Mortgage Trust backs 49 IOS sites across 22 states, totaling approximately 235 usable acres. This financing comes on the heels of several significant transactions for Alterra in 2024, including the sale of an institutional-grade portfolio of 51 IOS assets to Peakstone Realty Trust in November for $490 million.

“We are thrilled to close our first financing with the Blackstone team and to add another leading institution to a growing list of capital providers supporting our IOS platform,” said Scott Whittle, Chief Financial Officer for Alterra IOS.

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 of the developer, a partnership led by Moshe Braver.

The development consists of one 24-story building that will feature 366 market-rate units, 158 affordable units ranging from one to three bedrooms and 7,750 square feet of ground-floor retail. The community will offer premium amenities, including a parking garage, rooftop space, gym and yoga studio, business center, game room, theater, resident lounge, children’s playroom, pet spa and library.

Sutphin II is located adjacent to the Jamaica Long Island Rail Road train station and within walking distance of multiple subway lines. Upon completion, the project qualifies for a 35-year 421-a tax abatement and Brownfield Redevelopment Tax Credits.