HKS arranges more than $500 million in first-half financing

HKS Real Estate Advisors said it closed more than $500 million across 30 financing transactions in the first half of 2026, spanning properties in New York, Connecticut and Florida. The deal flow points to continued lender appetite for experienced sponsors and may signal more refinancing and development activity in the second half of the year.

Why it matters: - HKS said the first-half volume shows capital is still available for qualified borrowers even as lenders remain selective. - The financing mix covered multifamily, mixed-use, retail, student housing and development assets. - The transactions also suggest active demand for refinancing, lease-up capital and development financing across key East Coast markets.

What happened: - HKS Real Estate Advisors said it arranged more than $500 million in financing across 30 transactions during the first half of 2026. - The closings involved properties in New York, Connecticut and Florida. - The financing included permanent, bridge, lease-up, senior and mezzanine debt. - The work served both new and longstanding clients.

The details: - In Ithaca, New York, Alex Dobosh and Andrew Pilchick arranged $103.75 million in lease-up financing for a recently developed student housing community near Cornell University. - The Ithaca property totals 168,019 square feet, with 356 units and 483 beds. - GID Credit provided the financing. - In Brooklyn, Andrew Pilchick, Alex Dobosh and Jacob Kaufman secured $68.5 million in senior and mezzanine financing for a 2.25-acre waterfront development site at 10 Java Street. - The Brooklyn site allows about 544,000 buildable square feet of mixed-use development and currently has a vacant industrial building. - Centennial Bank provided the senior loan, and Sherwood Equities supplied the mezzanine financing. - In Vernon, Connecticut, Andrew Pilchick and Alex Dobosh arranged $55.41 million for a 311-unit multifamily property. - Fortress provided the Connecticut financing. - In Manhattan, Ayush Kapahi arranged a $37.5 million refinancing for 230 East 44th Street, a 135,315-square-foot mixed-use property with 164 residential units and six commercial tenants. - Infinity Funds provided that loan. - In Miami, Ayush Kapahi secured a $30 million refinancing for Merrick Parc, a 91,911-square-foot mixed-use development site at 3191 SW 39th Avenue. - Miami-Dade County recently added the site to its Rapid Transit Zone, raising its as-of-right development potential from 317 residential units to 806 units, plus about 15,000 square feet of ground-floor retail. - Knighthead Funding provided the Miami loan. - In Long Island City, Daniel Kowalsky arranged a $25.8 million refinancing for a recently completed 52,578-square-foot retail property occupied by iFLY and VIBE Fitness. - Hanover Capital provided that financing. - In Brooklyn, Jay Stern secured a $15.2 million refinancing for a two-property portfolio that includes a recently renovated multifamily building and a mixed-use asset with ground-floor retail and residential apartments. - Citi provided the Brooklyn portfolio loan. - In SoHo, Ayush Kapahi arranged a $10 million refinancing for 216 Lafayette Street, a commercial property that recently signed Seven Seven Six as its headquarters tenant. - 360 Capital Funding provided the loan. - In SoHo, Michael Lee secured a $6.8 million refinancing for 156 Prince Street, a six-story mixed-use property with two retail spaces and 21 residential apartments. - Peapack Private provided that financing. - On Manhattan’s Lower East Side, Daniel Kowalsky arranged a $6.45 million refinancing for an 11,372-square-foot retail condominium at 92-98 Delancey Street. - Citizens Private provided the retail condo loan. - In Fort Greene, Brooklyn, Daniel Kowalsky secured a $4.8 million refinancing for 30 Saint Felix Street, a 25,032-square-foot multifamily property with 16 free-market apartments. - Chase Bank provided that financing. - HKS said its financing portfolio totals $30 billion. - More information is available in HKS's announcement.

Between the lines: - Ayush Kapahi said lenders are still selective, but experienced sponsors with strong assets and clear business plans can still access capital. - Kapahi also said HKS expects more financing activity in the second half of 2026 as borrowers refinance maturing debt, move ahead with development plans and pursue new investment strategies. - The transaction list leans heavily toward New York City, which may reflect both market depth and ongoing refinance needs in the region.

What's next: - HKS expects financing activity to increase in the second half of 2026. - The firm expects more borrowers to seek refinancing for maturing loans and capital for development execution. - Continued lender selectivity could keep demand concentrated among assets with strong sponsorship and clear business plans.