HKS Tops $500 Million in First-Half Financing Deals

HKS Real Estate Advisors says it arranged more than $500 million across 30 financing transactions in the first half of 2026, spanning New York, Connecticut and Florida. The deal flow shows lenders are still funding experienced sponsors, even as the firm expects more refinancing and development activity later this year.

Why it matters: - HKS Real Estate Advisors closed more than $500 million in financing in the first half of 2026. - The 30 transactions covered multifamily, mixed-use, retail, student housing and development properties. - The deals stretched across New York, Connecticut and Florida, showing where capital is still moving in a selective lending market. - The financing included permanent, bridge, lease-up, senior and mezzanine capital.

What happened: - HKS announced the first-half total on July 23, 2026. - The firm said the closings served both new and longstanding clients. - Principal Ayush Kapahi said the firm expects more financing activity in the second half of 2026 as borrowers refinance maturing loans, advance development plans and pursue new investment strategies.

The details: - In Ithaca, New York, Alex Dobosh and Andrew Pilchick arranged $103.75 million in lease-up financing for a recently developed 168,019-square-foot student housing community near Cornell University. - The Ithaca property includes 356 units and 483 beds. - GID Credit provided the financing. - In Brooklyn, New York, Andrew Pilchick, Alex Dobosh and Jacob Kaufman secured a $68.5 million senior and mezzanine package 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 provided the mezzanine financing. - In Vernon, Connecticut, Andrew Pilchick and Alex Dobosh arranged $55.41 million for a 311-unit multifamily property. - Fortress provided that loan. - 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 financing. - 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. - The Miami-Dade County Rapid Transit Zone designation increased the site's 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, New York, 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 loan. - 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 portfolio refinancing. - In SoHo, Ayush Kapahi arranged a $10 million refinancing for 216 Lafayette Street, a commercial property that recently added Seven Seven Six as its headquarters tenant. - 360 Capital Funding provided that 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 that financing. - In Brooklyn's Fort Greene neighborhood, 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 loan. - HKS said the firm has a $30 billion financing portfolio and directs readers to more information.

Between the lines: - The mix of student housing, multifamily and development deals suggests lenders are still willing to back assets with clear lease-up or redevelopment paths. - The larger financings in Ithaca, Brooklyn and Vernon point to continued demand for capital in markets where sponsors can show scale and a defined business plan. - HKS' note about expected second-half activity signals that refinancing pressure could keep deal volume active if borrowers move before maturities hit.

What's next: - HKS expects more refinancing, development and investment-activity financing in the second half of 2026. - Borrowers facing maturing loans may drive additional deal flow as the year continues. - The firm will likely keep leaning on lender relationships to match capital sources with property type and structure.