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Commercial Lending

Commercial Lending (283)

CIT Bank Inaugurates Multifamily Loan Program in Southern California

CIT Bank Inaugurates Multifamily Loan Program in Southern California

Wednesday, 12 December 2018
Commercial Lending
Written by
 CIT Bank has unveiled a new community investment loan program that provides construction loans and permanent financing for multifamily affordable housing and community facilities across Southern California. CREA LLC, a real estate advisory firm, will support CIT with the affordable housing portion of the program. "CIT is pleased to expand its community investment efforts in … Read more...
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Elion, Buchanon To Purchase Multifamily Complex

Elion, Buchanon To Purchase Multifamily Complex

Tuesday, 11 December 2018
Commercial Lending
Written by
Elion Partners and Buchanan Partners plan to acquire a 164-unit multifamily housing property and an adjacent 3.5-acre land parcel in Montgomery County, Md. The asset and adjacent land parcel were acquired for $34 million, with the total project estimated to cost over $100 million. The project is located next to the Glenmont Metro Station, which… Read more...
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National Health Investors Financing Nursing Home

National Health Investors Financing Nursing Home

Monday, 10 December 2018
Commercial Lending
Written by
National Health Investors Inc. has agreed to finance the development of a 144-bed skilled nursing facility located near Milwaukee, Wisc., for a commitment of $25.35 million. The initial funding under the commitment was $4,700,000 and construction is underway and expected to be completed in the second quarter of 2020. A 12-year lease term begins post-construction… Read more...
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Multifamily on Track for Solid 2018

Multifamily on Track for Solid 2018

Friday, 07 December 2018
Commercial Lending
Written by
The multifamily market has so far had a solid 2018, with rent growth of 3.1 percent. Demand continues to be the main driver. Household formation is running at roughly 1.5 million per year, helping fill the 300,000 multifamily units of new supply, according to the Multifamily National Report for November 2018 from Yardi Matrix. Occupancy… Read more...
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Walker & Dunlop Finance Chicago-Based Senior Housing

Walker & Dunlop Finance Chicago-Based Senior Housing

Thursday, 06 December 2018
Commercial Lending
Written by
  Walker & Dunlop has structured $13,920,000 in financing for Willa Rawls Manor, an 11-story, 123-unit affordable housing community for seniors aged 62 and above. The property was developed in 1979 and is 100 percent covered by a long-term Section 8 Housing Assistance Payments contract. Located in Chicago, the property provides much-needed viable housing for… Read more...
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Carter Acquires Laurel Point Apartments

Carter Acquires Laurel Point Apartments

Wednesday, 05 December 2018
Commercial Lending
Written by
Carter Multifamily has acquired Laurel Pointe Apartments for around $13 million. Built in 1970, Laurel Pointe has 160 apartments located three miles southeast of downtown Jacksonville, Fla., which offer access to the area's largest employers, including Baptist Health, Mayo Clinic, Bank of America, and UF Health Hospital. Jaxport, the Jacksonville Port Authority, generates more than… Read more...
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Greystar Acquires Phoenix Area Property

Greystar Acquires Phoenix Area Property

Tuesday, 04 December 2018
Commercial Lending
Written by
Greystar Real Estate Partners acquired the three-property, 845-unit Acacia portfolio located in the Phoenix metropolitan area. The portfolio, which is concentrated in Phoenix’s affluent East Valley and comprises Chandler Court and River Ranch in Chandler, Ariz., and Vista Montana in Gilbert, Ariz., represents an opportunity for Greystar to acquire high-quality assets in rapidly growing, low-supply… Read more...
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Freddie-Hunt Complete Small Balance Deals

Freddie-Hunt Complete Small Balance Deals

Monday, 03 December 2018
Commercial Lending
Written by
Hunt Real Estate Capital has provided three Freddie Mac Small Balance Loans totaling $11.1 million. To complete the transactions, Hunt provided two cash-out refinances, which provided liquidity for the acquisition of a third property. The loans have a five-year fixed-rate term, with no interest only period, amortized over 30-years. All three properties are fully occupied,… Read more...
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Kennedy Wilson Sells San Francisco Property

Kennedy Wilson Sells San Francisco Property

Friday, 30 November 2018
Commercial Lending
Written by
Kennedy Wilson has sold the Bay Village Apartments in the San Francisco suburb of Vallejo, Calif. The firm owned a 50% ownership in the 260-unit property that was acquired in 2010. “This sale enables us to recycle capital into other strategic investment opportunities that we plan to close this month,” said Kurt Zech, president of… Read more...
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Freddie Closes Closes Low-Income Housing Investment

Freddie Closes Closes Low-Income Housing Investment

Thursday, 29 November 2018
Commercial Lending
Written by
Freddie Mac and Boston Financial Investment Management have completed an affordable housing investment. The $5.5 million low-income housing tax credit fund equity investment is for the rehabilitation of Riverwood Village Apartments, a Section 8 family property in Russellville, Ark. The complex consists of 72 units within eight, two-story walk-ups originally built in 1976. “The preservation… Read more...
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Onerous Leasing Process to Receive Makeover

Onerous Leasing Process to Receive Makeover

Wednesday, 28 November 2018
Commercial Lending
Written by
VTS plans to create a marketplace will provide the infrastructure for landlords, agency brokers, tenant reps, and tenants to complete lease transactions online. The marketplace, slated for a 2019 launch, will enable landlords and brokers to dramatically improve the marketing and leasing of spaces. Clients include Beacon Capital Partners, Blackstone, LaSalle Investment Management, Hines, Boston… Read more...
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Fannie-Hunt Refi Four Multifamily Properties

Fannie-Hunt Refi Four Multifamily Properties

Tuesday, 27 November 2018
Commercial Lending
Written by
Hunt Real Estate Capital has provided conventional Fannie Mae multifamily loans in the amount of $35.2 million in a cash-out refinance of a four-property multifamily portfolio located in Reading, Pennsylvania. The loans have a 12-year term, 11.5-year yield maintenance and 30-year amortization. All of the loans carried Green Rewards pricing provided through planned water conservation… Read more...
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