Sol Systems Secures $675 Million Financing for Solar Expansion
News Summary Sol Systems has secured $675 million in financing to support the expansion of solar and storage projects across the U.S. The funding will enable the company to build 500 megawatts of capacity in states like Illinois, Ohio, and Texas, with energy delivery expected by the end of 2026. This financing marks a significant […]
Builder Tracie J. Kelley Accused of Fraud in Home Projects
News Summary Tracie J. Kelley, owner of KellCo Custom Homes in Little Rock, is facing multiple lawsuits from couples alleging fraud and financial mismanagement related to custom home projects. Accusations include significant delays, cost overruns, and misappropriation of funds. The Arkansas Contractors Licensing Board has issued a cautionary letter and fine against Kelley amid growing […]
Construction Funded for Joyce Kilmer Logistics Center in New Brunswick, NJ
News Summary The Joyce Kilmer Logistics Center in New Brunswick, NJ, has secured $33 million in construction financing. This development will feature two Class A industrial buildings and cover 195,421 square feet. Strategically located near major highways, the project seeks to meet the demand for modern industrial spaces, addressing the scarcity of facilities under 100,000 […]
CCI Real Estate Secures $67 Million for UGA Redevelopment
News Summary CCI Real Estate has secured $67 million in construction financing for the redevelopment of the Baptist Collegiate Ministries building at the University of Georgia. The project, named ‘290 Lumpkin,’ will feature an eight-story mixed-use facility with 240 residential units, amenities including a parking deck, rooftop deck, student lounge, and retail spaces. Scheduled for […]
Volvo Financial Services Reports Mixed Q2 Results
News Summary Volvo Financial Services displayed mixed financial results in the second quarter, with retail financing growth amid a decrease in its credit portfolio. While delinquencies are under control, issues with the weaker Swedish krona and increased credit provisions pose challenges. The company is also focusing on technological innovation through a joint venture with Daimler […]
Tighter Lending Standards Challenge Commercial Real Estate Borrowers
News Summary The commercial real estate borrowing landscape is becoming increasingly complex as interest rates soar and lending standards tighten. Borrowers now face higher interest rates, with conventional commercial loans ranging from 6% to 10% and SBA 7(a) loans reaching up to 12.5%. The economic environment poses significant risks, especially with potential balloon payments and […]
CCI Real Estate Secures $67 Million Loan for UGA Redevelopment
News Summary CCI Real Estate has secured a $67 million loan to redevelop the Baptist Collegiate Ministries building at the University of Georgia. The project, known as ‘290 Lumpkin’, aims to enhance campus life by providing multifamily housing and community spaces for students. With partnerships involving the Georgia Baptist Mission Board and significant amenities, the […]
Eastern Union Secures $18.5 Million Loan for Mixed-Use Development in Manchester, NH
News Summary Eastern Union has arranged an $18.5 million loan for the construction of a mixed-use property in Manchester, NH. This development includes 77 residential units over eight stories at 31 Central Street and is set to be completed by the end of 2025. The loan features a 10% interest rate and a 12-month interest-only […]
Apex Money Lending Group Expands into Commercial Real Estate Loans
News Summary Apex Money Lending Group LLC is expanding its services to include commercial real estate loans in Colorado, providing financing solutions that focus on property value rather than credit scores. The new offerings start at $100,000 with interest rates beginning at 12%. The company emphasizes flexible loan options, including asset-based loans, bridge loans, and […]
JLL Capital Markets Secures $26 Million Loan for Magnolia at Powell
News Summary JLL Capital Markets has secured a €26 million construction loan for Magnolia at Powell, a 132-unit residential community in Wildwood, Florida. The loan, structured over three years, will support the community’s transition to full leasing. With amenities like a resort-style pool and fitness center, Magnolia at Powell caters to diverse residents with one, […]