Commercial Lending

Commercial Lending (184)

Multifamily on Track for Solid 2018

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...

Walker & Dunlop Finance Chicago-Based Senior Housing

  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...

Carter Acquires Laurel Point Apartments

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...

Greystar Acquires Phoenix Area Property

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...

Freddie-Hunt Complete Small Balance Deals

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...

Kennedy Wilson Sells San Francisco Property

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...

Freddie Closes Closes Low-Income Housing Investment

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...

Onerous Leasing Process to Receive Makeover

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...

Fannie-Hunt Refi Four Multifamily Properties

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...

Ten-X Commercial Transactions Hit $1.56 Billion for 2018

Ten-X Commercial and brokers have sold $1.56 billion of commercial real estate properties in 2018 through the platform. The platform transacted $689 million of commercial real estate in the third quarter. Ten-X is a transaction platform for commercial real estate. "The steady user growth and increase in traffic between launch and Q3 is a testament… Read more...

Greystone Provides $29.5M in Bridge Financing 

Greystone has provided $29,500,000 in bridge financing for the acquisition of 783 residential rental units in Baton Rouge, LA. The acquisition financing was originated by Leor Dimant of Greystone’s New York office. Greystone provided two separate non-recourse bridge loans for the borrower to acquire and rehabilitate four total properties. The first two-year bridge loan was… Read more...

Freddie Finances Affordable Housing in Texas

Freddie has funded an $11 million transaction that will finance 91 affordable single- family rental homes in Dallas, Fort Worth and Arlington Texas. Working with its Seller-Servicer A10 Capital, the transaction is part of Freddie Mac’s affordable single-family rental pilot that is sunsetting in 2019. Of the 91 homes in the transaction, 66 percent are… Read more...

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