Commercial Lending

Commercial Lending (184)

3650 REIT Funds $27.5M Construction Loan in Phoenix

3650 REIT has funded a $27.5 million senior construction loan to Greenlight Communities for the development of a 252-unit affordable multifamily project in Phoenix. Churchill Commercial Capital, a commercial mortgage bank in Phoenix, was responsible for arranging the financing. “3650 REIT understands our business plan and provided us with a highly attractive financing solution that… Read more...

Hunt Completes Affordable Multifamily Loan

Hunt Real Estate Capital has arranged a Fannie Mae affordable multifamily loan in the amount of $19.5 million to finance the acquisition of a multifamily property, located in Austin, Texas. Blunn Creek Apartments consists of 280 apartments and is comprised of 12, three-story buildings. The borrower, Avanath Capital Management, has acquired more than 8,000 apartment… Read more...

Elevation Financial Sells Baton Rouge Housing Community

Elevation Financial Group, a provider of senior and multifamily affordable housing, has sold Serenity Apartments at Baton Rouge. The 328-unit multifamily community sold for $15.5 million or $47,256/unit. Elevation purchased the property in August 2016 for $4 million or $12,195/unit. At the time of acquisition, almost half of the apartment units weren’t fit to live… Read more...

Freddie Mac, RBC Close $180M Low-Income Fund

Freddie Mac and RBC Capital Markets’ Tax Credit Equity Group have closed a $180 million Low-Income Housing Tax Credit Fund, and they have already completed several transactions. Ten transactions have closed, including two in Puerto Rico and eight in New York, South Carolina, Tennessee, Texas and West Virginia. The closing marks Freddie Mac’s fourth LIHTC… Read more...

Greystone Provides $14.7M in Freddie Mac Loan

Greystone, a commercial real estate lending company, has provided a $14,796,000 million Freddie Mac loan for the acquisition of SouthGlenn Place, a multifamily property located in Denver. The financing was originated by Ana Ramos of Greystone’s Los Angeles office, while both the seller and buyer were represented by Greystone Unique Apartment Group. [caption id="attachment_9227" align="alignright"… Read more...

NAPA Sells Four Properties

NAPA Ventures has sold four Dallas-based properties--Westwood Apartments, Ravenwood Apartments, Oates Creek Apartments and Brandon Mill Apartments. Combined these units make up roughly 700 of NAPA's almost 4000-unit portfolio, and are the latest sales completed by the real-estate investment firm. "As simple as it sounds, we executed our business plan and sold the assets," said … Read more...

Freddie Mac Multifamily Had Record-Setting 2018

Freddie Mac’s multifamily division set a record with $77.5 billion in loan purchase and guarantee volume for 2018, and $500 million in low-income housing tax credit equity investments. This year’s production beats the previous record of $73.2 billion that was achieved 2017. Overall, the company financed more than 860,000 rental units, more than 90 percent… Read more...

Investment Fund to Rehab Multifamily Property

Middleburg, a development and management firm, completed its initial closing on Workforce Housing Fund and will contribute a previously acquired property, Vesta Derby Oaks to the fund. The firm will continue to raise capital and add other family office and high net worth investors to the fund, which is expandable to $75 million, giving Middleburg … Read more...

Fannie Prices First Green Deal of 2019

Fannie Mae has priced its first Multifamily DUS REMIC in 2019 totaling $996.5 million under its Fannie Mae Guaranteed Multifamily Structures, also known as Fannie Mae Gems, and its latest green offering. "This marks Fannie Mae's ninth Green GeMS deal; the desk continues to bring alternative Green investments to the Green MBS market, while providing… Read more...

Freddie Mac: Predicts Another Record Year in MultiFamily

Continued strong performance in the multifamily market will result in another record year, according to Freddie Mac Multifamily 2019 Outlook. That’s because rent growth and vacancies will again outperform historical averages, even as new supply remains elevated into 2020, because originations are expected to continue to rise. “Even with continued growth in supply, we expect… Read more...

Acres Closed $500M in Transactions During 2018

Acres Capital Corp. closed around $500 million in transactions in 2018, according to the company. “In a highly competitive lending environment, we managed to grow our origination volume and cultivate new borrower relationships—all without sacrificing our rigorous underwriting criteria,” said Mark Fogel, CEO and president of Acres. “The significant progress achieved in 2018 is a… Read more...

Churchhill Closes on New Construction Property in Texas

Churchill Stateside Group LLC, a real estate company, has closed on Springwood at Allen, a 92-unit new construction property that’s located in Allen, Texas. CSG through its subsidiary Churchill Mortgage Investment provided a $12,894,500 insured loan under Department of Housing and Urban Development guidelines for the construction of multifamily properties. The Springwood is a single… Read more...

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