SPRING, TEXAS — NorthMarq Capital has arranged the refinancing of Alexan Auburn Lakes, a 346-unit multifamily property located at 6000 W. Rayford Road in Spring, about 25 miles north of Houston. Kerry French of NorthMarq structured the transaction with a seven-year term featuring two years of interest-only payments and a 30-year amortization schedule. Freddie Mac provided the funds.
FORT WORTH, TEXAS — HFF has arranged an undisclosed amount of acquisition financing for The Venue at Hometown, a 209-unit, Class A multifamily property located at 9012 Courtenay St in Fort Worth. Cortney Cole and Steve Heldenfels of HFF arranged the seven-year loan, which features a 4.06 percent fixed interest rate, on behalf of Venterra Realty, a Houston-based management firm. At the time of the loan closing, the property, which includes a pool, fitness center and business center, was 94..
GREENBELT, MD. — Eastern Equity Advisors has arranged $12 million in equity on behalf of Blue Ocean Realty, a Maryland-based management company, for the acquisition of The Hanover Apartments, with securities offered through Palladium Capital Advisors. Located at 7232 Hanover Parkway in Greenbelt, Md., a northeastern suburb of Washington, D.C., the garden-style property has 320 units. Marc Belsky of Eastern Equity arranged the equity. Meridian Capital sourced an undisclosed amount of..
YONKERS & NANUET, N.Y. — Jeremiah Houlihan of Houlihan Parnes Realtors has arranged an $850,000 first mortgage loan for a mixed-use building located at 925-939 Yonkers Ave. in Yonkers. The property consists of a two-story building with the Clairmont Diner on the first floor and three apartments on the second floor, along with an attached one-story building containing an automobile service station. Houlihan also arranged a $1.3 million first mortgage loan for a retail center located at..
CHICAGO — American Street Capital (ASC) has arranged an $11.1 million loan for the acquisition of a 40-unit mixed-use property in Chicago’s North Center neighborhood. Built in 2009, the building consists of six ground-floor retail units and 34 residential units with a mix of two- and three-bedroom apartments. Additional amenities include in-unit washers and dryers, balconies, rooftop decks and indoor parking. Igor Zhizhin of ASC originated the seven-year loan, which includes a 30-year..
NEW YORK CITY — Eastern Consolidated’s capital advisory division has arranged an $85 million refinancing loan for a 12-story, 140,000-square-foot building with 133 residential and eight commercial units located at 2030 Broadway in Manhattan. Jonathan Aghravi and Charles Han represented the borrower, Ormonde Equities LLC, and secured the loan from a life insurance company. Since acquiring the property in 2004, the sponsor has repositioned it with a series of capital improvements. The..
SOUTH BRUNSWICK, MOONACHIE & TETERBORO, N.J. — G.S. Wilcox & Co. has secured $56 million in financing for a six-building industrial portfolio located in South Brunswick, Moonachie and Teterboro. Al Raymond of G.S. Wilcox arranged the 12-year loan, which includes a 3.25 percent fixed interest rate. Thrivent Financial for Lutherans, one of the firm’s correspondent lenders, provided the financing.
NASHVILLE, TENN. — Mesa West Capital has provided Magellan Development Group $88.3 million in first mortgage debt for the refinancing for The SoBro, a 313-unit, Class A apartment complex in downtown Nashville. Magellan, which is headquartered in Chicago, owns the 33-story building located at 205 Demonbreun St. The SoBro was completed in 2016 and consists of one-, two- and three-bedroom apartments. The building was 25 percent leased at the time of the loan closing.
LEWISVILLE, TEXAS — NXT Capital, a Chicago-based lender, has provided a $26 million first mortgage loan to refinance a 242-unit apartment community in Lewisville. The Class A property, which is part of Hebron 121 Station, is located roughly 23 miles from downtown Dallas and offers a resort-style pool with poolside bar, private cabanas, running/biking trails, fitness center and a business center. Roger Wyche of Metropolitan Capital Advisors placed the loan with NXT Capital.
MILWAUKIE, ORE. — Lancaster Pollard has arranged a $5.3 million Fannie Mae loan for BPM Senior Living. The loan provides capital for Royalton Place, a 70-unit assisted living and memory care community in the Portland suburb of Milwaukie. BPM purchased Royalton Place in 2005 and adjusted the acuity mix in late 2014. The financing is part of the owner’s plan to replace the existing third-party operator, instead taking over management of the community itself. Matt Lindsay led the..