KeyBank Finances Affordable Housing Development in Oceanside, California
News Summary KeyBank has secured financing for the El Camino Real Apartments in Oceanside, California, which will provide 111 affordable housing units for families. The project aims to address the housing shortage and includes supportive services for residents. The City Council has unanimously approved this initiative, highlighting its importance for the community by integrating essential […]
CA$200 Million Financing Deal Boosts Morgan Construction
News Summary Gordon Brothers has secured a CA$200 million financing deal for Morgan Construction, aimed at enhancing working capital, supporting new equipment purchases, and facilitating growth. The financing package includes a five-year revolving credit facility and an accordion feature, allowing for increased borrowing capacity. Alongside financial support, Gordon Brothers will provide long-term asset advisory services […]
Dunmor Launches New Wholesale Broker Division
News Summary Dunmor, a specialized lender in residential real estate, has introduced a wholesale broker division aimed at improving access to a variety of loan products. This initiative, led by new executive vice president Zeenat Zonte, is expected to enhance Dunmor’s distribution of financing options, including bridge loans and multifamily financing, through mortgage brokers. The […]
Funding Cuts Delay Milwaukee’s 6th Street Reconstruction Project
News Summary Milwaukee’s ambitious plan to reconstruct the 6th Street corridor, with an estimated budget of $36.6 million, is facing significant delays due to over $34 million in federal funding cuts. This setback, resulting from recent congressional decisions, impacts safety improvements and economic growth potential in the area. Mayor Johnson emphasized the project’s role in […]
New Student Housing Development in Ann Arbor Begins Construction
News Summary CRG and Shapack Partners are moving forward with the construction of Chapter Ann Arbor, a 19-story student housing facility located near the University of Michigan. Set to provide 183 units and 625 beds, the project aims for completion by 2027, accommodating diverse living needs and offering modern amenities. This development addresses the increasing […]
Kiavi Expands Construction Financing Team with New Leaders
News Summary Kiavi has strengthened its construction financing division by hiring Tom Hallock as head of construction lending and Robert Jayne as head of originations. These executives bring extensive experience in construction finance aiming to drive growth and enhance service for real estate investors. Under their leadership, Kiavi plans to leverage advanced technology to improve […]
North Port City Commission Considers Infrastructure Funding Proposal
News Summary The North Port City Commission will discuss a public-private partnership proposal from Florida Development Solutions, aiming to fund essential infrastructure projects. This proposal encompasses enhancements for the North Port Police Department, an expanded wastewater treatment facility, and a new solid waste transfer station, all previously rejected by voters. The financing options presented do […]
Clifford Chance Secures $282.5 Million Green Financing for Aurora Solar Project
News Summary Clifford Chance has facilitated a significant financing deal worth $282.5 million for Zelestra, aimed at constructing the Aurora project in Chile. This innovative hybrid solar photovoltaic plant will be backed by a Battery Energy Storage System, enhancing its contribution to renewable energy. Located in the Tarapacá Region, the Aurora project boasts a remarkable […]
Ponce Financial Group Grows Amid Economic Challenges
News Summary Ponce Financial Group, Inc. is expanding its construction lending operations despite high inflation, mortgage rate increases, and an uncertain trade policy environment. The bank has reported significant growth, including a 107% rise in net income for the first quarter. With strategic initiatives in community engagement and digital banking, Ponce is positioning itself for […]
Overland Park Officials Evaluate Subsidy for Black & Veatch Development
News Summary Overland Park city officials are evaluating a proposed $230 million public subsidy for Black & Veatch’s Overland Park Plaza II project. This plan aims to transform a 78-acre campus into a $1.12 billion mixed-use development, which includes housing, retail, and other amenities. Despite the potential benefits, the subsidy has sparked criticism regarding its […]