REBusinessOnline

RED Capital Group Secures $7.8M Construction Loan for Adaptive Reuse Multifamily Building in Pennsylvania

LANDISVILLE, PA. — RED Capital Group has secured a $7.8 million construction loan for Tobacco Road apartments, an adaptive reuse of a historic building in Landisville. The loan will be used to develop the currently vacant brick property into a 66-unit apartment community. The structure, a former tobacco warehouse, consists of four connected buildings and was built in the early 1900s. The property is listed on the National Register of Historic Places. RED Capital Group secured the financing on …

Mag Mile Capital Facilitates $12.1M Loan for Apartment Complex in Columbia

COLUMBIA, S.C. — Mag Mile Capital has arranged a $12.1 million bridge loan for St. Andrews Apartments, located at 601 St. Andrews Road in Columbia. The loan features an initial funding of $9.7 million with a 79 percent loan-to-value ratio and a $2.3 million future funding with a three-year initial term and two one-year extension options. Rob Bernstein of Mag Mile originated the deal, while Prabhat Jayara, Ian Carlos and Elizabeth Skrynecka, also of Mag Mile, provided the underwriting and …

Fields Holdings Receives $64M Construction Loan for Student Housing Tower Near University of Washington

SEATTLE — Quantum Capital Partners has secured $64 million in construction financing for The M, a 24-story student housing development located near the University of Washington in Seattle. The property — developed by Los Angeles-based Fields Holdings — will offer studio, one-, two-, three- and four-bedroom units alongside 4,350 square feet of ground-floor retail and one level of subterranean parking. Shared amenities will include study rooms, a recreational lounge, fitness center, …

HFF Secures $69M Refinancing for 726,306 SF Shopping Center in Metro Salt Lake City

TAYLORSVILLE, UTAH — HFF has secured a $69 million refinancing for Crossroads of Taylorsville, a 726,306-square-foot retail center located 10 miles outside Salt Lake City in Taylorsville. Jim Curtin of HFF worked on behalf of the borrower, Dallas-based TriGate Capital, to place the three-year, floating-rate loan with NexBank. Loan proceeds will be used to refinance the current loan amount, provide capital for tenant improvements and leasing commissions to fully stabilize the asset, and …

SunTrust Originates $8.2M Acquisition Loan for Apartment Property in South Georgia

VALDOSTA, GA. — SunTrust Banks has originated a $8.2 million bridge loan for the acquisition of Fields of North Valdosta, a multifamily property located at 480 Murray Road in Valdosta. The pet-friendly property features 113 two-bedroom units, ranging in size from 970 square feet to 1,200 square feet. Units include air conditioning, dishwasher, disposal, plush carpeting, walk-in closets and washer/dryer connections. Community amenities include a clubhouse, playground, swimming pool and …

CBRE Arranges $11.2M Acquisition Financing for 101-Unit Seniors Housing Property Near San Francisco

CONCORD, CALIF. — CBRE has arranged $11.2 million in financing for the acquisition of Entrust of Concord, a 101-unit independent living, assisted living and memory care community in the Bay Area city of Concord. The borrower was a joint venture between Agemark Senior Living and Trellis Real Estate Group. The property will be immediately rebranded as TreVista Concord. Originally constructed in 1970, the community is situated on 2.7 acres near both downtown Concord and downtown Walnut …

HJ Sims Closes $186.5M in Construction Financing for Seniors Housing Project in Dallas

DALLAS — Connecticut-based investment bank HJ Sims has closed on $186.5 million in financing for Legacy Midtown Park, a 325-unit continuing care retirement community in Dallas that broke ground over the summer. Individual components of the financing package include $69.9 million in underwritten bonds, $70.5 million in financing and $14 million in subordinate financing. The property will offer independent living, assisted living and memory care units. The borrower was Legacy Senior …

PCCP Provides $44.8M Senior Loan for Development of Apartment Project in Minneapolis

MINNEAPOLIS — PCCP has provided a $44.8 million senior loan for the development of 1400 Nicollet Avenue, a proposed 231-unit apartment project in the Loring Park neighborhood of Minneapolis. Reuter Walton Development is developing the project, which will include 10,000 square feet of ground-floor retail space and 170 parking spaces. Approximately 80 percent of the units will be priced between $1,200 and $1,800 per month. Amenities will include a tenant lounge, clubroom, game room, fitness …

JPMorgan Chase Provides $306.5M Construction Loan for St. Regis Residences in Boston

BOSTON — JPMorgan Chase Bank has provided a $306.5 million construction loan for The St. Regis Residences a 114-unit, waterfront multifamily project in Boston’s Seaport district. The 22-story tower, which will be located at 150 Seaport Blvd., will feature a twisting and angular design evoking billowing sails in a nod to its location. Every residence in the property will offer views of the Boston skyline or Boston Harbor. The residences will also include underground parking and a …

NKF Capital Markets Arranges $250M Refinancing for Office Portfolio in Manhattan

NEW YORK CITY — NKF Capital Markets has arranged the $250 million refinancing of a two-building office portfolio in Manhattan’s financial district. Located at 80-90 Maiden Lane, the adjacent properties include a combined 610,000 square feet of office space. Both properties have been recently renovated. Dustin Stolly and Jordan Roeschlaub of NFK Capital Markets represented the borrowers — Normandy Real Estate Partners, Meadow Partners and AM Property Holding Corp. — in securing the …

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