Commercial Observer - Grandview Companies has secured a $63 million financing package for the development of a multifamily development in Western Washington, Commercial Observer has learned.
Peachtree Group originated a $28.3 million, 26-month first mortgage and 30-year $17 million Commercial Property Accessed Clean Energy (C-PACE) loan for the developers’ planned 280-unit Yorkshire Apartments project in Tumwater, Wash. Hickory CRE Lending also provided a $17.7 million mezzanine loan as part of the transaction, which was brokered by Zack Goodwin, managing partner at CapNorth.
Securing financing in today's capital markets is one of hotel owners and developers' greatest hurdles. Post-pandemic optimism has collided with a far more complex economic landscape defined by stubbornly high interest rates, cautious lenders and evolving risk appetites. While banks and CMBS lenders once anchored most hotel capital stacks, private credit has stepped into a central role, becoming not only an alternative but often the primary solution in today's environment.
Commercial Observer - Sun Development & Management Corporation has inked $67.5 million of bridge financing for the recapitalization of a newly-opened Hilton-branded hotel in Nashville, Commercial Observer has learned.
Peachtree Group originated the three-year loan with two one-year extension options for the developer’s 187-room Printing House – Tapestry Collection by Hilton property that debuted this spring.
Commercial Observer | Peachtree Group originated the 30 month, $34MM senior construction loan with a 12-month extension option for the Nebraska-based developer's planned Heartland Flats Apartments.