Apex Money Lending Group Launches New Loan Solutions in Colorado
News Summary Apex Money Lending Group LLC has introduced innovative commercial real estate loans tailored for businesses and investors in Colorado. By prioritizing property value over credit scores, the company aims to simplify and expedite the borrowing process, enabling access to funds in as little as 10 business days. The diverse loan offerings include asset-based […]
Availability of Construction Financing for Multifamily Projects Surges Amid Economic Uncertainty
News Summary Construction financing for multifamily projects is seeing increased availability despite economic uncertainties. Banks are returning to the lending space, offering low-cost capital, improved leverage options, and competitive spreads. This shift signals potential growth in the development sector, with debt funds and life insurance companies enhancing financing opportunities. Developers must be prepared with equity, […]
Economic Pressures Drive Multifamily Construction Investors to Private Credit
News Summary The multifamily construction market is under economic strain, pushing investors to seek private credit solutions to maintain their projects amid rising costs of materials. With a looming wave of mortgage maturities and tightened budgets, traditional financing options are scarce. Private credit providers are stepping in to support new projects and refinancing needs. Despite […]
Beitel Group Secures $305 Million Loan for New Development
News Summary The Beitel Group has obtained a $305 million construction loan from SCALE Lending to develop a mixed-use project in Mott Haven, featuring two high-rise towers. This project will include 755 rental units and 11,500 square feet of retail space, set to enhance the neighborhood’s skyline and living experience. With a variety of amenities […]
Taylor Morrison Secures $3 Billion Financing for Yardly Expansion
News Summary Taylor Morrison has secured a $3 billion financing deal with Kennedy Lewis Investment Management, aimed at advancing its build-to-rent brand, Yardly. This funding will support land acquisition, development, and construction costs, enhancing the company’s ability to provide a unique pathway to homeownership for renters. The financing agreement underscores the strategic partnership between the […]
First BanCorp Reports Strong Financial Performance
News Summary First BanCorp has announced a remarkable net income of $298.7 million for the year, showcasing substantial growth in revenues and earnings. The bank’s loan portfolio expanded significantly, focusing on commercial, construction, and consumer lending. Additionally, First BanCorp demonstrated a commitment to key industries, including small businesses and affordable housing projects, while also ensuring […]
Paducah City Commission Advances Southside Revitalization
News Summary The Paducah City Commission is advancing a revitalization plan for the Southside area, introducing financial incentives and plans for affordable housing. Key highlights include 100% financing on construction loans through a partnership with CFSB. The second reading of the South Side Revitalization Plan ordinance is scheduled for August 12. This initiative aims to […]
Multifamily Housing Developments Face Major Challenges
News Summary The multifamily housing market is experiencing significant difficulties, with completions for apartments down nearly 40% year-over-year. While construction starts for new projects increased, total units under construction have declined. Building permits for multifamily developments saw a rise, but rising costs and community concerns present obstacles. In Anchorage, ambitious goals for new residential units […]
Sol Systems Secures $675 Million for Solar Projects
News Summary Sol Systems, a leading U.S. clean energy developer, has secured a $675 million revolving construction finance facility to support solar and storage initiatives across the nation. The funding will initially enable the deployment of 500 megawatts of solar generation and storage capacity, focusing on key states like Illinois, Ohio, and Texas. This significant […]
First BanCorp. Reports Strong Q2 Earnings
News Summary First BanCorp. has announced impressive financial results for the second quarter, with a net income of $80.2 million and an increase in earnings per share. The bank’s loan production drove growth in net interest income, while core loan growth was notable, particularly in Puerto Rico and Florida. The company declared a quarterly cash […]