Northmarq’s Minneapolis Debt & Equity team of Andy Finn, senior vice president and senior director, and Dan Trebil, executive vice president and regional managing director, has secured a $35.5 million construction loan and $20.65 million in equity for a 155-unit build-to-rent (BTR) property in Maple Grove, Minnesota. Northmarq arranged the construction loan for the borrower, …

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Gantry secured a $25.4-million permanent loan to retire construction financing for the recently completed SW by CLG in Los Angeles. Located at 1947 Sawtelle Blvd. in West LA’s Japantown neighborhood, the four-story, Class A apartment building features 88 units and street-front retail space occupied by five restaurant concepts. Principal Andy Bratt and associate Sean Kuang …

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Northmarq’s West Palm Beach debt + equity team of David Gahagan, Chris Hammel and Chandler Kaye secured the $82-million refinance of The Cartwright apartments in Irvine. Built in 2021, the multifamily property features 272 units at 17600 Cartwright Rd. The Northmarq team arranged financing on behalf of a first-time developer through a correspondent relationship with a life insurance company. The transaction …

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The developers of One Beverly Hills held a ceremonial groundbreaking Thursday for the mixed-use project. With a final cost estimated between $4 billion and $5 billion, the condominium and hotel complex promises to transform the Beverly Hills skyline, reported the Los Angeles Times. At the heart of the project will be two greenery-covered towers that …

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Two metrics within the past month exceeded expectations. First, Q4 2023 GDP increased at an annual rate of 3.3%. And second, the U.S. added 353,000 jobs in January 2024, well above the 185,000 analysts predicted. The unemployment rate was 3.7%. Overall, “the resilience of the U.S. economy has surprised many,” said economist Ray Perryman with …

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Amid continued uncertainties, it should be no surprise that multiple companies’ Q4 office market numbers provided a sense of déjà vu relative to previous quarters. Specifically, reports highlighted negative absorption and continued double-digit vacancies. Plante Moran’s U.S. Office Real Estate Market Summary allowed that office rents recovered since the pandemic. But “outsized sublease availability has …

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