REBusinessOnline

New York Life Provides $44.5M Bridge Loan for Houston Office Property

HOUSTON — New York Life Real Estate Investors has provided a $44.5 million bridge loan for 515 Post Oak, a 274,848-square-foot, 12-story office property located in the Galleria area of Houston. The Class A property, which offers access to Interstates 610 and 69, was renovated in 2012 and includes a four-story parking garage, fitness center and a full-service deli. Proceeds will be used to meet the lease-up objectives of the owner and borrower, Spear Street Capital. Other loan terms were not …

Bellwether Arranges $49.3M in Acquisition Financing for Two Multifamily Assets in Austin

AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital, the multifamily mortgage banking arm of Enterprise Community Investment Inc., has arranged $49.3 million in acquisition financing for a pair of multifamily assets in Austin. The company arranged a $34.3 million loan for Northwest Hills, a 314-unit community; and a $15 million loan for The Place at Terracina, a 170-unit property. Kevin Bowen of Bellwether placed the loans for the properties, both of which have 51 percent of their units …

JLL Secures $52.8M Loan for Refinancing of Historic Houston Office Property

HOUSTON — JLL has secured a $52.8 million loan for the refinancing of Esperson, a historic property in downtown Houston that currently provides office space to firms in the energy, law and banking industries. MetLife Investment Management provided the loan on behalf of the borrower, a partnership between Contrarian Capital Management and Cameron Management, which acquired the property in 2012. Tom Melody, Paul House, John Ream and Connor Harrell of JLL placed the debt for Esperson, which …

Comerica Bank Provides $32.9M Construction Loan for Kingwood Mixed-Use Project

KINGWOOD, TEXAS — Comerica Bank has provided a $32.9 million loan to Stratus Properties Inc. (NASDAQ: STRS) for the construction of Kingwood Place, a mixed-use project in Kingwood, a master-planned community located north of Houston. The project will deliver a 103,000-square-foot H-E-B grocery store, 41,000 square feet of additional retail space, six retail pads and 300 multifamily units. The financing was structured at approximately 70 percent loan-to-cost. Construction is expected to begin …

Greystone Provides $31.5M Bridge Loan for Skilled Nursing Facility Portfolio in Texas

NEW YORK — New York-based Greystone has provided a $31.5 million bridge loan for four skilled nursing facilities located across Texas. The undisclosed borrower is using the loan proceeds to refinance Heritage Oaks Residence & Rehabilitation Center, a 204-bed facility in Arlington, and the 202-bed Quality Care of Waco in Waco. The funds will allow the borrower to expand clinical services at the two properties. Two other facilities, the 186-bed Westview Manor & Rehabilitation Center in …

JLL Arranges $60M Loan for Refinancing of Hyatt-Branded Hotel in Houston

HOUSTON — JLL has arranged a $60 million loan for the refinancing of Hyatt Regency Houston Galleria, a 325-room hotel in Houston. The property features more than 19,000 square feet of meeting and event space, two food and beverage outlets, an outdoor pool and a fitness center. Jeffrey Davis, Mike Melody, Kevin Davis, Paul House, Matt Nowaczyk and John Ream of JLL arranged the loan through MetLife on behalf of the undisclosed

Natixis Provides $147.2M Loan for Refinancing of 46-Story Office Tower in Houston

HOUSTON — French investment bank Natixis has provided a $147.2 million floating-rate loan for the refinancing of San Felipe Plaza, a 46-story office tower located in the Galleria/Uptown area of Houston. The Class A, 980,473-square-foot property was built in 1983 and renovated in 2015. Amenities include a fitness center, multiple onsite dining options, a conference center, dry cleaner and a Starbucks. Susan Hill of HFF arranged the loan on behalf of the borrower, a subsidiary of Parkway

Bellwether Arranges $23.7M Acquisition Loan for Austin Apartment Community

AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital LLC has arranged a $23.7 million Fannie Mae acquisition loan for Preserve at Wells Branch, a 308-unit multifamily community in Austin. The community offers one- and two-bedroom units and amenities such as a pool, fitness center, business center and basketball court. The new ownership plans to convert the property into an affordable housing community with 51 percent of the units available to households earning 80 percent or less of the …

KeyBank Provides $105.8M HUD Loan for Skilled Nursing Portfolio in Texas

CLEVELAND — Cleveland-based KeyBank Real Estate Capital has provided a $105.8 million HUD loan for 16 skilled nursing facilities located throughout Texas. The financing was used to fund the acquisition of 12 properties and to refinance four other properties. The portfolio totals 1,924 beds. Grant Saunders and Peter Trazzera of KeyBank originated the loan on behalf of the borrower, a joint venture between Capital Senior Ventures and BlueMountain Capital

Greystone Closes $23.7M HUD Loan for Apartment Community in Metro Dallas

WAXAHACHIE, TEXAS — Greystone has closed a $23.7 million HUD loan for Hunter’s Cove Apartments, a 192-unit multifamily community located in the southern Dallas suburb of Waxahachie. The property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and a resident clubhouse. Ana Ramos of Greystone placed the 30-year loan, which featured a fixed interest rate and a 30-year amortization period. The borrower was not

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