WASHINGTON, PA. — Capital Funding Group, a Baltimore-based lender, has closed a $25.5 million bridge-to-HUD loan for the acquisition of Washington County Health Center, a skilled nursing facility in the Pittsburgh suburb of Washington. Craig Casagrande of Capital Funding originated the loan. No further details were disclosed.
CLINTON AND MEDFORD, MASS. — Transwestern Consulting Group has arranged two loans totaling $22.8 million for NorthBridge Partners. The loans will finance the acquisition and future leasing costs for two warehouses in Massachusetts. Transwestern secured a long-term, non-recourse $13.9 million loan for 100 Adams Road, a warehouse in Clinton, through Middlesex Savings Bank. The 345,000-square-foot building is fully occupied by five tenants. Completed in 2000, the property features 30-foot clear..
MILWAUKEE — Associated Bank has provided $20.6 million in total equity and $11.5 million in construction and bridge financing for the development of three affordable housing projects in Wisconsin spanning 130 units. Built in 1912, the former Washington School in Sheboygan, Wis., is on the National Register of Historic Places. The building will be converted into a two-story apartment community with 42 units known as Washington School Apartments. A three-story historic school building..
KALAMAZOO, MICH. — CBRE has arranged a $31 million Freddie Mac loan for the refinancing of Candlewyck Apartments in Kalamazoo. The 487-unit apartment property is located at 132 Candlewyck Drive. Jason Brown and Dan Gable of CBRE arranged the loan on behalf of Zidan Management Group. The loan features a fixed rate of 4.13 percent and is amortized over 30 years. The borrower received an interest rate reduction from Freddie Mac in exchange for a commitment to invest approximately $225,000 in..
TOWSON AND HUNT VALLEY, MD. — MacKenzie Capital has arranged $32.4 million in acquisition financing for an office and retail portfolio in Baltimore County’s Towson and Hunt Valley submarkets. John Black, Will Goetschius and Brendan Harman of MacKenzie Capital arranged the 25-year, fixed-rate loan on behalf of the borrower, RFP Partners LLC. Don Schline of MacKenzie Capital sourced the off-market acquisition on behalf of RFP. The portfolio comprises nine office and retail buildings and..
NAPLES, FLA. — Preferred Apartment Communities (PAC) has received a $19 million acquisition loan for Crossroads Market, a 126,895-square-foot shopping center in Naples. HFF’s Ed Coco, Nat Scarmazzi and Matt Casey secured the 12-year, non-recourse loan through Nationwide Life Insurance Co. on behalf of PAC. A 55,999-square-foot Publix anchors Crossroads Market, which was 98.1 percent leased at the time of sale to tenants including Walgreens, Crunch Fitness, Giovanni Italian Ristorante,..
BOULDER, COLO. — J.P. Morgan Asset Management has obtained $75.3 million in acquisition financing to purchase a three-property office portfolio in Boulder. The portfolio includes 1050 Walnut Street, 1881 9th Street and 1900 15th Street. The Class A assets are situated just a few blocks from Boulder’s vibrant Pearl Street Mall. J.P. Morgan acted on behalf of institutional investors in this acquisition. Deutsche Bank provided the five-year, floating rate loan. JLL’s Capital Markets team..
CYPRESS, CALIF. — Meridian Capital Group has arranged $8.5 million in permanent financing for The Boardwalk, a shopping center in the Southern California town of Cypress. Seth Grossman and Andy Strauss of Meridian arranged the 10-year, CMBS loan on behalf of the borrower, The Festival Cos. The 13,700-square-foot, single-story property is home to Noodles & Co., Uroko Café, Which Wich, Pita 360 and Fisherman’s Market Grill.
SAN JOSE, CALIF. — Lane Partners has obtained a $200 million loan to acquire [email protected], a 603,666-square-foot creative office property in the Silicon Valley city of San Jose. The asset is located at 110, 120 and 130 Holger Way. The Class A property features a campus environment with landscaped paths, natural light, views of the bay and hills, outdoor barbeque and patio areas, basketball court, fitness center and locker rooms, game room, executive business center, and 300-seat cafeteria...
ESTERO, FLA. — Greystone has arranged a $44.6 million Fannie Mae loan for Estero Oaks, a 280-unit apartment community in Estero, roughly 15 miles south of Fort Myers. Nicholas Diamond of Greystone arranged the 10-year loan with two years of interest-only payments and a 30-year amortization schedule on behalf of the developer and borrower, Royal Palm Cos. Constructed at the end of 2016, Estero Oaks features a business center, clubhouse, playground, dog park, fitness center, yoga studio,..