Commercial Lending

Commercial Lending (229)

Dodge: 60% of Largest Commercial, Multifamily Markets Declined in 2018

Just four of the top-10 metropolitan areas for commercial and multifamily construction reported increased investment in 2018, according to Dodge Data & Analytics. The remaining six experienced decreases. [caption id="attachment_5116" align="alignright" width="231"] Robert Murray, chief economist for Dodge Data[/caption] The New York metropolitan area, at $28.7 billion in 2018, continued to be the leading market… Read more...

Hunt Makes $30M Fannie Loan

Hunt Real Estate Capital has provided a Fannie Mae conventional loan in the amount of $30 million to refinance a multifamily property located in Baton Rouge, Louisiana. River House Apartments is a 224-unit, Class-A multifamily property located at 1480 Nicholson Dr. in the East Baton Rouge Parish. The property is comprised of 168 one-bedroom units… Read more...

MBA: Commercial, Multifamily Mortgage Maturity Volumes to Rise 8% in 2019

Loan maturities this year will rise 8 percent from the $102.2 billion that matured in 2018. Fully $110.5 billion of the $1.9 trillion (6 percent) of outstanding commercial and multifamily mortgages held by non-bank lenders and investors will mature in 2019, according to the Commercial Real Estate-Multifamily Survey of Loan Maturity Volumes from the Mortgage… Read more...

Golden State Apartment Complex Sold for $18.2M

The Mogharebi Group completed the sale of Paradise Apartments in Chico, Calif., a164-unit community, located on West Sacramento Avenue for $18,200,000. The price breaks down to $110,976 for each unit or $143 per square foot. The buyer was a private investment group out of Calabasas, Calif., that specializes in student housing. “Due to the attractive… Read more...

Pembrook Extends $9.1M Construction Loan in City of Brotherly Love

Pembrook Capital Management originated a $9,150,000 million first-mortgage construction loan for the development of a 70-unit multifamily project with retail in Philadelphia. [caption id="attachment_9795" align="alignleft" width="240"] Philadelphia[/caption] Located at 1427 Germantown Avenue, the 53,575 square foot property will offer smaller, more affordable rental housing than many other new projects built in the nearby Northern Liberties… Read more...

Senior Living Community to be Developed in Texas

Civitas Senior Living and LKP Ventures are developing Harvest Senior Living, a new, luxury assisted living and memory care community in Roanoke, Texas. The new, 67,000 square-foot property will be situated on 5.25 acres. "We are thrilled to be partnering with LKP Ventures on this new community," said Wayne Powell, Founder and CEO of Civitas… Read more...

InvestRes Aquires Oakwood Apartments in Sarasota

InvesRes has purchased Oakwood Apartments, a multifamily property located in Sarasota, Fla. The 148-unit two-story garden-style community sits on 10 acres and is located just five minutes from the Sarasota airport, 15 minutes from award-winning beaches, and 20 minutes from the business district and downtown Bradenton. Oakwood is a high-quality community constructed in 2015, offering… Read more...

Fannie Mae Increases Loan Limit on Small Multifamily Properties

Fannie Mae has increased the loan limit of small multifamily mortgage loans to $6 million, from $3 million or less nationwide and $5 million or less in high-cost markets. The objective was to ensure an adequate supply of affordable housing. The changes will simplify the definition of a small loan and provide more opportunities for… Read more...

Spirit Bascom Acquires Building in Posh N.J. Town

Spirit Bascom Ventures, a partnership between Spirit Investment Partners and The Bascom Group LLC, has purchased the 30-unit apartment building at 204 Grand Street in Hoboken, N.J. The $15,500,000 acquisition closed in mid-January. Spirit Bascom acquired 1024 Clinton Street also in Hoboken in July. Nat Gambuzza and Manny Sanghera of CBRE represented the seller, and… Read more...

Mill Creek Breaks Ground on Upscale San Diego Development

Mill Creek Residential, a multifamily investor and operator, has begun construction on Modera San Diego, a luxury apartment community in the East Village neighborhood of San Diego. The seven-story community is the company’s first foray into San Diego, and move ins are projected for spring of 2021. "San Diego is rapidly becoming one of the… Read more...

American Street Brokers Three Deals in Midwest

Hunt Real Estate Capital, a commercial real-estate lender, has financed three multifamily properties, two in Chicago and one in Lakewood, Ohio. The deals were brought to the firm by American Street Capital, a correspondent broker based in Chicago. The transactions include the following properties: Hunt provided a $1.6 million non-recourse mortgage to refinance 7200 South.Bennett… Read more...

Redwood Participating in a Multifamily Fund

Redwood Trust Inc. is participating in a multifamily whole-loan investment fund in a bid to expand its access to rental-housing credit. Earlier in January, Redwood invested in a limited partnership created to acquire up to $1 billion of floating rate, light-renovation multifamily loans from Freddie Mac. Redwood, a real estate investment trust, has committed to… Read more...

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