Lument announced the placement of a $14 million CMBS loan to refinance Mi-Place at Vineyards, a 41-unit, 65,000-square-foot retail mixed-use development in Lewes, Delaware.

Ben Retter, a director on Lument’s debt capital markets team, led the transaction. The CMBS loan has a fixed interest rate and five-year term. It replaces existing debt from a local bank. The developer is Fernmoor, a land development and residential and commercial property management company based in New Jersey.

“Helping this experienced developer obtain CMBS financing for this high-quality, mixed-use community was a pleasure,” said Lument’s Retter. “The property is well-positioned for success given the beneficial refinance, the appealing mix of unit types, its location near popular vacation destinations, as well as its top-notch management.”

Mi-Place at Vineyards is part of a master-planned community which includes multifamily buildings, for-sale residential condominiums, for-sale carriage homes and townhouses, retail space, and a grocery store.

Berkadia announced the refinancing of The Pillars of Prospect Park, a 283-unit seniors housing community in Minneapolis, Minnesota. Managing Directors Austin Sacco and Steve Muth of Berkadia Seniors Housing & Healthcare secured bridge financing through a national bank on behalf of Harrison Street and Oppidan.

“We are thrilled to have led the refinance of this incredible intergenerational living asset for this top-tier sponsorship group,” said Sacco. The three-year bank loan features an attractive interest rate and three years of interest only.

The property affords convenient access to Downtown Minneapolis, the University of Minnesota Medical Center, and Midland Hills Country Club. The Pillars of Prospect Park was built in 2020 and features an intergenerational living model that includes senior living, student living, and a children’s daycare.