Samantha Rowan
Newmark arranged the loan on behalf of GFP Real Estate for the construction of a new office space for the Legal Aid Society.
Several bridge and construction lenders have already discussed a halt in lending for the near-term.
The firm has been an active buyer and seller over the past year, and earlier this month completed an $855.5m sale of a portfolio of workforce housing assets in Sunbelt markets with partner PGIM.
More than 50% of the firm’s total multifamily portfolio is comprised of fixed-rate loans.
The Austin-based C-PACE provider, which was acquired in January by Athene Holdings, is seeing more owners looking to upgrade their properties to address sustainability or resiliency issues.
Major closings in the first quarter included a roughly $2bn offering from Madison Realty Capital and an undisclosed fund from Silverstein Properties, Silverstein Capital Partners Fund.
Parkview Financial funded a $207m loan to acquire and redevelop the property.
Langdon Park Capital, a Los Angeles-based manager, is seeing more lender interest in its core strategy: preserving affordable and workforce housing in majority minority US communities.
The move comes as commercial real estate debt investments are moving toward the mainstream.
Alternative lenders are growing their assets under management – and looking at ways to green the lending process.