{"id":1004095033,"date":"2014-04-18T06:40:17","date_gmt":"2014-04-18T14:40:17","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=255584"},"modified":"2020-04-30T07:27:53","modified_gmt":"2020-04-30T15:27:53","slug":"greater-baltimore-multi-housing-developments-receive-funding","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/greater-baltimore-multi-housing-developments-receive-funding\/","title":{"rendered":"Greater Baltimore Multi-Housing Developments Receive Funding"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">Two Greater Baltimore residential projects secured financing last week, and are both now one step closer to completion. Located in downtown Baltimore and in Odenton, the two projects total more than 420 units.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/eb2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-255586\" title=\"eb2\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/eb2.jpg\" alt=\"\" width=\"248\" height=\"300\" \/><\/a>Last fall, JK Equities, a real estate company based in Long Island, NY, paid 7.2 million to acquire the historic Equitable Building from Equitable Holdings Trust. Soon after, it announced its plans to invest $32 million and convert the nine-story office property into 180 market-rate housing units. Located at 10 North Calvert Street, the Equitable Building was constructed in 1891 and is considered Baltimore\u2019s first skyscraper.<\/p>\n<p style=\"text-align: justify;\">JK Equities closed a $21.5 million acquisition loan with Wall Street firm Natixis Global Asset Management last week. Eastern Union Funding President Ira Zlotowitz and Senior Managing Director Meir Kessner arranged the loan. It features a 4.91 percent annual interest rate on a three-year term. With financing now secured, the project can move forward. It is expected to be completed in March 2015.<strong><\/strong><\/p>\n<p style=\"text-align: justify;\">Further south, in Odenton<strong>, <\/strong>Holliday Fenoglio Fowler has arranged senior debt construction financing for NOVUS Odenton Station, a Class A, transit-oriented multi-housing development. The HFF debt placement team, led by Walter Coker and Brian, worked on behalf of NOVUS Residences LLC. It placed a four-year construction loan with EagleBank and it also secured joint venture equity for the development of the project through Clark Enterprises.<\/p>\n<p style=\"text-align: justify;\">NOVUS Odenton Station is located at the northeast corner of Hale Street and Nevada Avenue. It is expected to be completed in early 2015 and will feature 244 one-, two- and three-bedroom units. Amenities include a 5,000-square-foot fitness center with yoga and cycle studios, pet grooming spa, bike workshop, private park space, outdoor swimming pool, movie theater room and clubroom with billiards center.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credits: <\/em><a href=\"https:\/\/www.jkequities.com\" target=\"_blank\" rel=\"nofollow\"><em>JK Equities<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two Greater Baltimore residential projects have secured financing last week, and are both now one step closer to completion. Located in downtown Baltimore and in Odenton, the two projects total more than 420 units.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[39414,1815],"class_list":["post-1004095033","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest","tag-baltimore","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Greater Baltimore Multi-Housing Developments Receive Funding - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/greater-baltimore-multi-housing-developments-receive-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greater Baltimore Multi-Housing Developments Receive Funding\" \/>\n<meta property=\"og:description\" content=\"Two Greater Baltimore residential projects have secured financing last week, and are both now one step closer to completion. Located in downtown Baltimore and in Odenton, the two projects total more than 420 units.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/greater-baltimore-multi-housing-developments-receive-funding\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-18T14:40:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-30T15:27:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/eb2.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greater-baltimore-multi-housing-developments-receive-funding\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greater-baltimore-multi-housing-developments-receive-funding\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Greater Baltimore Multi-Housing Developments Receive Funding\",\"datePublished\":\"2014-04-18T14:40:17+00:00\",\"dateModified\":\"2020-04-30T15:27:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greater-baltimore-multi-housing-developments-receive-funding\\\/\"},\"wordCount\":295,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greater-baltimore-multi-housing-developments-receive-funding\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/04\\\/eb2.jpg\",\"keywords\":[\"Baltimore\",\"National\"],\"articleSection\":[\"Baltimore\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greater-baltimore-multi-housing-developments-receive-funding\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greater-baltimore-multi-housing-developments-receive-funding\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greater-baltimore-multi-housing-developments-receive-funding\\\/\",\"name\":\"Greater Baltimore Multi-Housing Developments Receive Funding - 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