Samantha Rowan
The financing was arranged by Lotus Capital Partners on behalf of a joint venture between Gencom and Mohari Hospitality.
The manager has made several hires and promotions to more effectively tackle opportunities in the workforce housing and structured credit markets.
Nominations close on December 12 at midnight for Real Estate Capital USA’s second annual awards.
Barings is providing $75m in mezzanine financing for the development of 470 Kent Street.
Despite the slowdown in the lending market, the firm this month obtained a $36m loan for a Maine multifamily development.
A slowdown in lending activity has stalled an extremely active year for the multifamily specialist.
The apartment REIT has already lined up $350m to refinancing existing debt incurred as part of its 2012 acquisition of a 60% stake in Archstone.
Dekel brought in UBS to fund the loan after a previous lender was unable to finance the acquisition for sponsor DB Capital.
The company closed on an $11.5 million loan commitment for a Brooklyn multifamily development after sponsors locked in pricing over the summer.
It is difficult for a borrower to determine if now is a good time to move ahead with refinancing, Singer believes.