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$300 Million Oakville Triangle Redevelopment In Alexandria Secures Financing
Stonebridge, the master developer behind Oakville Triangle, a planned mixed-use redevelopment in Alexandria, Virginia, has secured the necessary financing for the $300 million projects. With the financing secured, the project is ready to move forward, and demolition already began this week. When completed, Oakville Triangle will offer 577 apartments, a 93,000 Sq Ft. Inova HealthPlex, 55,000 square […]
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Silver Tree Scores $62 Million Loan For Fort Lauderdale Retirement Community
Silver Tree Residential scored a $62.1 million refinancing loan for a large, Fort Lauderdale retirement community from Grandbridge Real Estate Capital. Gateway Terrace Senior Apartments, situated at 1943 NE 6th Court, is located in the Victoria Park residential neighborhood along the Rio Barcelona Canal, less than two miles north of Las Olas Boulevard, the city’s main road. Constructed […]
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Arbor Realty Trust Grants $82 Million On 1,002-Unit Multifamily Asset In Memphis
Blue Magma Residential has grabbed $82 million in bridge debt from Arbor Realty Trust to obtain a 1,002-unit residential development in Memphis, Tennessee. The three-year, floating-rate and interest-only loan helped facilitate Tampa-based Blue Magma’s purchase of the sizable Waterview Apartment Homes at 6860 Quince Road in Memphis from its previous owner CapReit. Berkadia’s Patrick Jordan organized the sale and financing stated that the Blue Magma […]
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Sperry Equities Obtains Chicago-Area Retail Asset For $26 Million
Sperry Equities has acquired a Chicago-area shopping center anchored by Kohl’s for $26.2 million. The Irvine, California-based firm acquired Willow Creek Center in Glenview, Ill., from Heitman, a Chicago-based real estate investment firm. Mid-America Real Estate Corporation Principal Rick Drogosz, Principal Ben Wineman and Associate Vice President Emily Gadomski were exclusive brokers on the transaction. Huntington National Bank granted a $16 million loan to finance the purchase. Drew Burlak, […]
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Developers Obtained $30 Million Construction Loan for Boynton Beach Project
Chicago-based firms Harrison Street Real Estate and CA Ventures obtained a $30 million construction loan from Live Oak Banking Company for a Boynton Beach, Florida project, after purchasing a vacant site for $5.3 million. Located at 6495 W Boynton Beach Boulevard, the 5.3-acre parcel also sits along Jog Road and is part of a larger development called Mainstreet at Boynton. The sellers, Boca […]
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Parkview Financial Gives $29 Million For Apartment Development In South LA
Parkview Financial announced it provided a $29 million construction loan to Greenpointe Development for a planned mixed-use project with 124 apartments – 14 of which will be designated for low-income households and 6,000 square feet of ground-floor retail space. The five-story development is set for less than an acre of land at 4242 Crenshaw Boulevard in the Leimert Park neighborhood […]
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Deutsche Bank’s RREEF Management Acquires Wellington Rental For $71 Million
Deutsche Bank is once again hunting down South Florida multifamily properties. RREEF Management, a commercial real estate capital based in Chicago and owned by the German bank, earned a rental community in Wellington, Florida, the equestrian capital of the world for $70.6 million as per records. Waterstone at Wellington, located at 2029 Vinings Circle, holds 222 units, spanning 14 […]
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ACORE Capital Loans $145 Million On Two Seattle-Area Multifamily Projects
Alliance Residential and USAA Real Estate have inked two loans totaling $145.1 million to acquire and construct two multifamily developments in Bellevue, Washington. ACORE Capital provided the financing, which carries an $80.5 million loan for the joint venture’s planned Holden of Bellevue independent senior living project and $64.6 million for an apartment complex called Broadstone Gateway. Kyle Jeffers, senior managing director and head […]
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S3 Capital Grants $80 Million On Luxury Charlotte Multifamily Development
East Boulevard Development Company LLC has grabbed $80 million in construction debt from S3 Capital Partners to finance the development of a luxury multifamily project in Charlotte, N.C. The loan will aid the buildout of a project that will be located at 1701 East Boulevard in the Dilworth area of Charlotte within a prime area just south of the city’s […]