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The portfolio is made up of 821 units and comes as more investors are looking at opportunities in the sector.
The financing was arranged by Lotus Capital Partners on behalf of a joint venture between Gencom and Mohari Hospitality.
The Chicago credit union is seeing an uptick in bridge-to-bridge lending.
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.
PGIM Real Estate, Regions Bank pros say 2023’s $6bn total rate cap reduction will be inconsequential.
Despite the slowdown in the lending market, the firm this month obtained a $36m loan for a Maine multifamily development.
Jones Street Investment Partners secured individual loans from Key Bank, Bangor Savings Bank and Berkshire Bank.
Newmark arranges debt for 50-asset portfolio in burgeoning lending niche.
A slowdown in lending activity has stalled an extremely active year for the multifamily specialist.