Commercial/Multifamily Briefs, July 17, 2025
(Image courtesy of Markus Winkler via pexels.com)
FHLBank San Francisco Awards Nearly $50M for Affordable Housing in Arizona, California, Nevada
The Federal Home Loan Bank of San Francisco announced $49.7 million in Affordable Housing Program grants from its General Fund and Nevada Targeted Fund to support 31 developments across Arizona, California and Nevada.
The funding will create more than 2,050 units of affordable housing.
Broken down by source, the AHP General Fund awards will deliver $44.6 million in funding for 26 projects in California and Arizona. The AHP Nevada Targeted Fund will deliver $5.1 million for five projects in Nevada.
Sixteen FHLBank San Francisco member financial institutions will partner with 27 nonprofits and affordable housing developers.
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Dwight Mortgage Trust Announces Pricing of Inaugural Commercial Real Estate CLO
Dwight Mortgage Trust, New York, announced the pricing of its inaugural Commercial Real Estate Collateralized Loan Obligation–DWIGHT 2025-FL1.
It’s a $925 million securitization backed by a diversified pool of multifamily mortgage loans.
“We are excited to bring our first CRE CLO to market,” said Jai Agarwal, President and COO at Dwight Mortgage Trust. “This transaction provides us with a strategic, scalable financing vehicle that enhances our funding flexibility, supports continued loan origination growth, and aligns with our long-term asset management strategy. As our business continues to grow, we expect to periodically access the CRE CLO market.”
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Walker & Dunlop Closes Fund 124
Walker & Dunlop, Bethesda, Md., announced the successful closing of Fund 124, a $240 million Multi-Investor Low-Income Housing Tax Credit Investment Fund aimed at affordable housing solutions in fifteen markets across the U.S.
It’s the largest LIHTC fund from the firm to date.
It will support the development of 18 properties in California, Texas, Maryland, Utah, Missouri, Michigan, Connecticut, Florida, Idaho and Kansas, totaling 1,701 affordable housing units.
The Walker & Dunlop Affordable Equity team, led by Dudley Benoit, Peter Antonopoulos, Elizabeth Ronayne, Caitlin Crowe, Bob Rice, Edward Jenkins, Emily Moraga and Marcus Law arranged the fund.
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Peachtree Group Launches Latest DST
Peachtree Group, Atlanta, launched its latest hotel property structured as a Delaware Statutory Trust, its ninth since 2022.
The property is the 128-key SpringHill Suites Phoenix West Avondale in Avondale, Ariz., near Phoenix.
“This newly developed property represents everything we look for in a DST offering. It features strong market fundamentals, a leading brand and long-term upside supported by sustained demand channels across corporate, healthcare and leisure,” said Tim Witt, president of 1031 Exchange and DST Products at Peachtree. “The SpringHill Suites Phoenix West Avondale gives investors access to a newly built, debt-free asset in one of the country’s fastest-growing metropolitan areas. It is an ideal opportunity for those seeking tax deferral through a 1031 exchange while maintaining exposure to the hospitality sector, which continues to demonstrate strong fundamentals and long-term resilience.”
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