BWE has secured $38.92 million to refinance 194 units of Woodland Park by the Lake, a 240-unit gated condominium community in the Bronzeville neighborhood of Chicago, Illinois.

Ryan Morris, vice president, and Max Miller, analyst, both in BWE’s Chicago office, originated the five-year Freddie Mac loan on behalf of the sponsor, a joint venture between a Chicago-based property management firm and a Chicago-based investor group. The joint venture originally acquired 170 units in the property in 2019 as part of a fractured condo deal, and since then, they have purchased more units and substantially renovated those homes. The refinancing accounts for 194 of the total 240 units.

“With its recent stabilization and the strong Chicago rental market, it was the ideal time to refinance so that our client can continue to acquire and renovate additional units in the property,” said Morris. Located at 3423 S Cottage Grove Avenue, Woodland Park by the Lake is a gated, seven-acre residential community.

Gantry has secured a $16 million permanent loan to refinance the Kirkland Business Center located at 11860 NE 112th St in Kirkland, Washington.

Originally delivered in 1962 and 1969, the 104,000-square-foot, multi-tenant buildings are 100% leased to a range of small bay tenants. Gantry’s Principals Mike Wood and Mike Taylor, and Senior Associate Tim Brown, with the firm’s Seattle production office, represented the borrower, a private real estate investor. The seven-year, fixed-rate loan was provided by one of Gantry’s correspondent insurance company lenders and features cash-out proceeds with full-term interest-only payments. Gantry will service the loan on behalf of the lender.

“Well-located Puget Sound multi-tenant industrial continues to be a preferred allocation target for our network of insurance company lenders,” said Wood. “Their stable, fixed-rate permanent programs are attractive for legacy hold investors seeking to capitalize on long-term appreciation, historic performance, and strong operating metrics.”

JLL Capital Markets arranged Credit Tenant Lease (CTL) financing for the development of a 200,000-square-foot, purpose-built laboratory and training facility for the Massachusetts State Police in Marlborough, MA. Senior managing director Brett Paulsrud and managing directors Andrew Gray and Michael George worked on behalf of the borrower, Greatland Realty Partners and its investment partners, to place the CTL loan directly into the private placement bond market through the co-book running efforts of JLL Securities, LLC and Mesirow Financial.

Construction of the Crime Laboratory is scheduled to begin imminently, with the opening planned for the first quarter of 2028. The new four-story facility will consolidate the current Maynard and Sudbury crime labs into a single location and is fully leased to the Commonwealth of Massachusetts through a 20-year, NNN lease.

The project is located about 30 miles west of Boston at 100 Martinangelo Drive in Marlborough, near major highways, including Interstates 90, 290 and 495. The 24-acre site was selected for its capacity to support new jobs and additional economic development the facility will bring to both the city and surrounding areas.

Colliers announced that ROKK Solutions, a bipartisan public affairs and communications agency, has expanded its office at 2020 K Street NW in Washington, D.C.

Having previously leased approximately 7,440 square feet, ROKK Solutions has experienced rapid growth, and the agency has now secured 19,517 square feet of office space on the 8th floor of the building.

A Colliers team, led by Josh Cramer, Executive Vice President, and Alex Picciano, Vice President, facilitated the lease negotiation and assisted ROKK Solutions in securing additional financial support through the Vitality Fund offered by the Office of the Deputy Mayor for Planning & Economic Development. The fund provided ROKK with resources that can be applied to tenant improvements, rent abatements, security deposits, and other expenses.

“Connecting ROKK Solutions with the Vitality Fund was a key move in securing their new headquarters space,” said Picciano. “The fund’s incentives will offer ROKK essential resources to enhance their office space and support their growing team in Washington, D.C.”

BWE has secured a $20 million loan to provide permanent financing for Lake Place, a 110-unit luxury active adult community in Chanhassen, Minnesota, part of the Minneapolis metropolitan area.

Lundat Kassa, vice president in BWE’s Washington, D.C. office, originated the financing through Freddie Mac on behalf of Silver Creek Equity, a MN-based development company. The loan has a 10-year term with a 35-year amortization period and five years of interest-only payments and was secured to close out a high-interest rate floating rate construction loan. Lake Place was built in 2023 and completed lease-up during the loan underwriting.

“When our client approached us about refinancing Lake Place, we worked diligently and swiftly to help them pay off their high-interest loan prior to the loan maturity while maximizing proceeds and reducing the sponsor’s cash outlay by strategically timing rate lock with lease-up completion and concession burnoffs,” said Kassa.

Walker & Dunlop has arranged $25.9M in permanent financing for Rivertown Ridge, a senior housing community located in the Grand Rapids, Michigan, metro area.

Walker & Dunlop Managing Directors Mary Stuart Hurst and Russell Dey partnered with Inner Circle Holdings to structure the 10-year, fixed-rate Fannie Mae loan with three years of interest-only payments to Redstone Group Management Inc.

Rivertown Ridge is a 152-unit, class A senior housing community built in 2019 as part of a larger, 120-acre master-planned community. The community includes dedicated units for independent living, assisted living, and memory care.

“We pulled together a team of agency and senior housing experts to collaborate on this unique transaction, which was a testament to the breadth of Walker & Dunlop’s financing platform,” said Mary Stuart Hurst, Managing Director of Multifamily Finance at W&D. “We are thrilled that we could be a part of Redstone Group’s commitment to providing quality care and housing in Grand Rapids and the surrounding region.”

The Moinian Group secured a 27,500-square-foot, five-year lease renewal with Gardiner & Theobald, an independent construction and property consultancy for the built environment, at 535 & 545 Fifth Ave. in Manhattan’s Midtown East. Gardiner & Theobald will continue utilizing its space to carry out its office operations.

Omar Sozkesen, VP of commercial leasing at The Moinian Group, represented ownership in-house. The tenant was represented by Evan Fiddle, SVP at CBRE.

“The renewal of Gardiner & Theobald’s lease is a testament to the quality of spaces at our properties, and we are pleased the company has chosen to continue its operations at 535 & 545 Fifth Ave.,” said Sozkesen. “Located within one of New York City’s most prominent retail and office corridors, we’re proud of the continued leasing success we’ve had at the property.” 

In addition to the building’s office component, the property’s retail space recently reached 100% occupancy with the signing of Paris-based professional football club Paris Saint-Germain.

Colliers represented luxury jeweler Lux Bond & Green in the acquisition of 49-53 Main St., Mystic, CT. The property, formerly home to the Bank Street Book Store, was purchased for $2,950,000. The new location will become the sixth store for the 127-year-old, family-owned jeweler, joining existing locations in West Hartford, Glastonbury, Westport and Mohegan Sun, and in Wellesley, MA.

John J. Cafasso, principal at Colliers, said, “We are thrilled to have facilitated this transaction for Lux Bond & Green. This sale represents not only a prime real estate investment but also a meaningful step in the growth of a beloved New England brand. The vibrant community of Mystic provides the perfect setting for Lux Bond & Green’s continued success.”

Cafasso represented Lux Bond & Green. Judi Carcausa, associate broker with William Pitt Sotheby’s International Realty, represented the sellers.

JLL has arranged $39.98 million in acquisition financing for a portfolio of three senior housing communities totaling 344 units in Eugene and Springfield, Oregon, on behalf of a local operator.

JLL worked on behalf of the borrower to secure the three-year, floating-rate regional bank financing. Proceeds were used to acquire the three properties. The JLL Seniors Housing Capital Markets team representing the borrower was led by Senior Director Alanna Ellis and Associate Alex Sheaffer. “This portfolio represents a tremendous addition to this operator’s portfolio,” said Ellis. “JLL was excited to work alongside our client  to achieve very favorable financing.”

The portfolio consists of Evergreen Senior Living, Timber Pointe and Woodside Senior Living, which together offer 43 independent living, 245 assisted living and 56 memory care units. All of the properties were built between 1996 and 2006 and the properties were fully renovated in 2021.