Mesa West Capital has provided an affiliate of Houston-based The Dinerstein Companies (“Dinerstein”) with $59 million in first mortgage debt for its acquisition of Manor Six Forks, a 298-unit multifamily community in Raleigh, NC, which is now rebranded as “Infinity Six Forks.” 

Mesa West’s five-year, non-recourse financing for Manor Six Forks allows Dinerstein to enter the Raleigh market. Brian Hirsh, Mesa West Executive Director, led the Chicago-based origination team with Russell Frahm, Executive Director in Mesa West’s New York office.   

“Raleigh is one the fastest growing markets nationally with an increase in high paying professional jobs and an attractive cost of living relative to the gateway markets. We expect high quality, well-located multifamily will continue to be in strong demand as Raleigh continues to grow,” said Hirsh. “Despite increases in Raleigh’s new multifamily supply, net absorption has been positive through the first half of the year,” continued Hirsh. “While many U.S. markets are facing volatility and a variety of headwinds, experienced sponsorship is as important as ever, and we are confident in Dinerstein’s ability to execute on a value-add business plan.” 

Manor Six Forks, which was 95% leased at closing, is situated between North Hills and Downtown Raleigh, two of the city’s most dense and dynamic submarkets. Built in 2010 and partially renovated in 2019, the property at 900 E. Forks Road features a mix of one- to three-bedroom floorplans ranging in size from 800 to 1,357 square feet.   The highly amenitized community includes a clubhouse, resort-style pool, rooftop lounge and a fitness center.   

The financing was arranged by Matt Greer and Andrew Wilson in Newmark’s Austin office. 

Mesa West Capital has provided an affiliate of Houston-based The Dinerstein Companies (“Dinerstein”) with $59 million in first mortgage debt for its acquisition of Manor Six Forks, a 298-unit multifamily community in Raleigh, NC, which is now rebranded as “Infinity Six Forks.” 

Mesa West’s five-year, non-recourse financing for Manor Six Forks allows Dinerstein to enter the Raleigh market. Brian Hirsh, Mesa West Executive Director, led the Chicago-based origination team with Russell Frahm, Executive Director in Mesa West’s New York office.   

“Raleigh is one the fastest growing markets nationally with an increase in high paying professional jobs and an attractive cost of living relative to the gateway markets. We expect high quality, well-located multifamily will continue to be in strong demand as Raleigh continues to grow,” said Hirsh. “Despite increases in Raleigh’s new multifamily supply, net absorption has been positive through the first half of the year,” continued Hirsh. “While many U.S. markets are facing volatility and a variety of headwinds, experienced sponsorship is as important as ever, and we are confident in Dinerstein’s ability to execute on a value-add business plan.” 

Manor Six Forks, which was 95% leased at closing, is situated between North Hills and Downtown Raleigh, two of the city’s most dense and dynamic submarkets. Built in 2010 and partially renovated in 2019, the property at 900 E. Forks Road features a mix of one- to three-bedroom floorplans ranging in size from 800 to 1,357 square feet.   The highly amenitized community includes a clubhouse, resort-style pool, rooftop lounge and a fitness center.   

The financing was arranged by Matt Greer and Andrew Wilson in Newmark’s Austin office. 

Newmark is pleased to announce that debt and structured finance veteran Anita Paryani-Rice has joined the firm as Executive Managing Director. With more than 25 years of commercial real estate experience, Paryani-Rice specializes in the origination of a full range of debt and structured finance products for multifamily, office, retail, hotel, industrial and other commercial assets nationwide, including Fannie Mae, Freddie Mac, CMBS, life company, bank, mezzanine and bridge/debt fund loan executions. Paryani-Rice is joined by Vice President David Fierroz who will work closely with her team to oversee underwriting, debt/equity placement and transaction management.

Paryani-Rice will partner with debt and structured finance Vice Chairman Darrin Stovall and Executive Managing Director Scot Snowball of Newmark’s Multifamily Capital Markets operation in Newport Beach, California as well as Newmark Investment Sales Teams across the U.S.

Paryani-Rice has placed and structured over $5 billion in capital through varying executions and capital structures throughout her career for a variety of property types.

“Anita’s expertise with middle market transactions ranging from $5 to $70 million and her deep relationships with a diverse base of clients including institutional and private clients, both foreign and domestic, align with Newmark’s commitment to continuously broaden the services we provide,” said Sharon Karaffa, Vice Chairman, Co-Head of Production of Newmark’s Multifamily Capital Markets group.

Stovall added, “Anita’s skill set with a significant focus on multifamily bridge debt executions and commercial property debt placement enables us to provide additional debt and equity products to our clients in addition to our superior agency execution. We are thrilled to have her join our team.”

“Newmark’s best in class talent, the synergies between the formidable investment sales and debt teams and the various lines of business as well as the top ranked GSE lender platform provide the opportunity to broaden my relationships, expand my lending network with direct access to Fannie Mae and Freddie Mac and best service my clients,” noted Paryani-Rice. “I am excited for this next chapter in my career, and I look forward to collaborating with the various Newmark professionals across the country.”

Paryani-Rice joins Newmark from Institutional Property Advisors, a division of Marcus & Millichap, where she was honored with numerous awards including "Rainmaker" by Real Estate Forum, Bisnow's Power Women and "Women of Influence" by LA Biz Journal. Earlier in her career, she also spent time at HFF and Lincoln Property Company. Paryani-Rice is actively involved with the University of Southern California (USC) as part of the USC Lusk Center Executive Center, USC Associates and Cardinal and Gold. She also serves on the board for the Progressive Osseous Heteroplasia Association.

Newmark is pleased to announce that debt and structured finance veteran Anita Paryani-Rice has joined the firm as Executive Managing Director. With more than 25 years of commercial real estate experience, Paryani-Rice specializes in the origination of a full range of debt and structured finance products for multifamily, office, retail, hotel, industrial and other commercial assets nationwide, including Fannie Mae, Freddie Mac, CMBS, life company, bank, mezzanine and bridge/debt fund loan executions. Paryani-Rice is joined by Vice President David Fierroz who will work closely with her team to oversee underwriting, debt/equity placement and transaction management.

Paryani-Rice will partner with debt and structured finance Vice Chairman Darrin Stovall and Executive Managing Director Scot Snowball of Newmark’s Multifamily Capital Markets operation in Newport Beach, California as well as Newmark Investment Sales Teams across the U.S.

Paryani-Rice has placed and structured over $5 billion in capital through varying executions and capital structures throughout her career for a variety of property types.

“Anita’s expertise with middle market transactions ranging from $5 to $70 million and her deep relationships with a diverse base of clients including institutional and private clients, both foreign and domestic, align with Newmark’s commitment to continuously broaden the services we provide,” said Sharon Karaffa, Vice Chairman, Co-Head of Production of Newmark’s Multifamily Capital Markets group.

Stovall added, “Anita’s skill set with a significant focus on multifamily bridge debt executions and commercial property debt placement enables us to provide additional debt and equity products to our clients in addition to our superior agency execution. We are thrilled to have her join our team.”

“Newmark’s best in class talent, the synergies between the formidable investment sales and debt teams and the various lines of business as well as the top ranked GSE lender platform provide the opportunity to broaden my relationships, expand my lending network with direct access to Fannie Mae and Freddie Mac and best service my clients,” noted Paryani-Rice. “I am excited for this next chapter in my career, and I look forward to collaborating with the various Newmark professionals across the country.”

Paryani-Rice joins Newmark from Institutional Property Advisors, a division of Marcus & Millichap, where she was honored with numerous awards including "Rainmaker" by Real Estate Forum, Bisnow's Power Women and "Women of Influence" by LA Biz Journal. Earlier in her career, she also spent time at HFF and Lincoln Property Company. Paryani-Rice is actively involved with the University of Southern California (USC) as part of the USC Lusk Center Executive Center, USC Associates and Cardinal and Gold. She also serves on the board for the Progressive Osseous Heteroplasia Association.

Newmark is pleased to announce that debt and structured finance veteran Anita Paryani-Rice has joined the firm as Executive Managing Director. With more than 25 years of commercial real estate experience, Paryani-Rice specializes in the origination of a full range of debt and structured finance products for multifamily, office, retail, hotel, industrial and other commercial assets nationwide, including Fannie Mae, Freddie Mac, CMBS, life company, bank, mezzanine and bridge/debt fund loan executions. Paryani-Rice is joined by Vice President David Fierroz who will work closely with her team to oversee underwriting, debt/equity placement and transaction management.

Paryani-Rice will partner with debt and structured finance Vice Chairman Darrin Stovall and Executive Managing Director Scot Snowball of Newmark’s Multifamily Capital Markets operation in Newport Beach, California as well as Newmark Investment Sales Teams across the U.S.

Paryani-Rice has placed and structured over $5 billion in capital through varying executions and capital structures throughout her career for a variety of property types.

“Anita’s expertise with middle market transactions ranging from $5 to $70 million and her deep relationships with a diverse base of clients including institutional and private clients, both foreign and domestic, align with Newmark’s commitment to continuously broaden the services we provide,” said Sharon Karaffa, Vice Chairman, Co-Head of Production of Newmark’s Multifamily Capital Markets group.

Stovall added, “Anita’s skill set with a significant focus on multifamily bridge debt executions and commercial property debt placement enables us to provide additional debt and equity products to our clients in addition to our superior agency execution. We are thrilled to have her join our team.”

“Newmark’s best in class talent, the synergies between the formidable investment sales and debt teams and the various lines of business as well as the top ranked GSE lender platform provide the opportunity to broaden my relationships, expand my lending network with direct access to Fannie Mae and Freddie Mac and best service my clients,” noted Paryani-Rice. “I am excited for this next chapter in my career, and I look forward to collaborating with the various Newmark professionals across the country.”

Paryani-Rice joins Newmark from Institutional Property Advisors, a division of Marcus & Millichap, where she was honored with numerous awards including "Rainmaker" by Real Estate Forum, Bisnow's Power Women and "Women of Influence" by LA Biz Journal. Earlier in her career, she also spent time at HFF and Lincoln Property Company. Paryani-Rice is actively involved with the University of Southern California (USC) as part of the USC Lusk Center Executive Center, USC Associates and Cardinal and Gold. She also serves on the board for the Progressive Osseous Heteroplasia Association.

Amplify Development Company, a national real estate development and investment management company with ties to Colorado, has expanded its student housing-focused portfolio in the state, acquiring the Vista Apartments across from the University of Denver for $41.3 million. The acquisition is the firm’s third in Colorado and second near the University of Denver since 2021.

Director Jack Brett with Newmark’s Student Housing group represented the seller while Senior Director Nick Steele and Director Tyler King with Berkadia Denver represented Amplify in the transaction.

Located at 1920 S. University Blvd. in Denver, the class A off-campus student-focused apartment building primarily serves the University of Denver as well as young professionals and residents in the city’s desirable Observatory Park and Cherry Creek neighborhoods. The nine-story structure was built in 2008 and consists of 84 units with 284 total bedrooms, two levels of above-grade parking and numerous amenity offerings.

“Denver’s University Park neighborhood is a special market, and we are thrilled to continue our relationship with the university and surrounding community,” said Alec Paddock, managing director and co-founder of Amplify Development Company. “We have substantial improvements, renovations and partnerships planned for Vista that we look forward to unveiling and are confident students and residents will enjoy.”

Situated just steps from the University of Denver campus, Vista offers two-, three- and four-bedroom fully furnished apartments with private bathrooms, flat screen TVs in living rooms and floor-to-ceiling windows with unobstructed views of the DU campus, downtown Denver and the Rocky Mountains.

Amenities include a business center, study rooms, computer lab, Wi-Fi, TV lounge, 24-hour maintenance and laundry facilities on each floor. The pet-friendly property also offers two outdoor terraces, an outdoor TV lounge, fireplace, grilling stations, secured covered parking and bike parking.

To improve the resident experience, Amplify is planning a comprehensive renovation of each of the property’s 84 units this fall, including upgrading the appliances, cabinets, countertops, millwork, light fixtures and furniture, and plans to implement numerous renovations and upgrades to the property’s common areas and utility infrastructure to reduce energy use. Denver-based Capstone Management Partners will be brought on to manage the property.

“Capstone Management Partners is the best in the business. Headquartered just five miles from the University of Denver campus, they understand the DU market as well as anyone,” added Paddock. “We have had the pleasure of working with Capstone on a number of properties in our portfolio over the years and are excited to have such a top-tier management and leasing company as a part of the Vista team.”

Amplify Development Company has been active in the Colorado market since 2021, having acquired Westside House, a 21-unit, 40-bed building near Colorado State University in Fort Collins, and University Lofts, the 35-unit, 97-bed mixed-use complex with ground floor retail and subterranean parking adjacent to the University of Denver.

Amplify added a new residential studio unit, converted a portion of the vacant retail space into an entry lobby with resident amenities, leased the remaining vacant retail space and master leased the entirety of the apartment component of University Lofts to DU before selling it in October 2022.

“We see a lot of growth potential in Colorado and the broader Denver market and are eager to continue to expand our portfolio in the region for years to come,” noted Paddock, who grew up in Louisville, 30 minutes north of Denver.