REBusinessOnline

MCA Closes $33.7M Bridge Loan for Oklahoma City Apartment Community

OKLAHOMA CITY — Metropolitan Capital Advisors Ltd. (MCA) has closed a $33.7 million floating-rate bridge loan for J Marshall Square, a 280-unit multifamily community in Oklahoma City. The sponsor, local developer Gardner Tanenbaum Holdings, will use the proceeds to retire existing construction debt. The bridge structure will also help the borrrower facilitate the lease-up and stabilization of the property. Sunny Sajnani and Todd McNeill of MCA arranged the loan through Centennial

Red Capital Provides $52.5M in Financing for 805-Unit Multifamily Community in Houston

HOUSTON — Red Mortgage Capital LLC, the debt banking arm of Columbus, Ohio-based Red Capital Group LLC, has provided $52.5 million in financing for Vista on Gessner, an 805-unit affordable housing community in Houston. The financing, which was arranged on behalf of Dallas-based Dalcor Holdings LLC, included a first lien $50 million Fannie Mae loan and a second lien $2.5 million co-terminus taxable loan. Vista on Gessner was built in 1977 and offers amenities such as a resident clubhouse, …

PCCP Provides $72M Loan for Refinancing of Multifamily Asset in Houston

HOUSTON — PCCP LLC, a real estate finance firm with offices in New York and California, has provided a $72 million loan for the refinancing of Millennium High Street, a 340-unit apartment community in Houston. The Class A property features 26,000 square feet of ground-floor retail space and offers amenities such as a fitness center, yoga studio and a dog park, as well as a pool and spa. The borrower was a partnership between The Dinerstein Cos. and Coventry Real Estate

HFF Places $48.5M Loan for Refinancing of Houston Office Building

HOUSTON — HFF has placed a $48.5 million loan for the refinancing of CITYCENTRE Five, a 201,437-square-foot office building in Houston. The property is located within a 50-acre mixed-use development that includes three apartment communities and a 265-room hotel. Colby Mueck of HFF arranged the loan through New York Life Real Estate Investors on behalf of Midway Cos., a Houston-based development and management

Q10 KDH Arranges Two Refinancings Totaling $44.5M for Houston-Area Retail, Multifamily Assets

HOUSTON — Q10 Kinghorn, Driver, Hough & Co. (Q10 KDH) has arranged two refinancings totaling $44.5 million in the Houston area. In the first transaction, Larry Peters of Q10 KDH arranged $29 million for two undisclosed multifamily assets totaling 642 units. These deals included a 15-year interest-only loan for the first property and a floating-rate loan for the second property. In the second transaction, Buddy Hopson of Q10 KDH placed a $15.5 million loan through a regional bank for the …

Värde Partners Provides $61.5M Loan for Refinancing of San Antonio Office Park

SAN ANTONIO — Värde Partners, a Minneapolis-based global investment firm, has provided a $61.5 million loan for Brass Professional Center, a 15-building, 729,000-square-foot office park in San Antonio. The undisclosed borrower will use the loan to finance existing debt and provide capital for recapitalizing the property or marketing it for sale over the next few years. Bryan Leonard of NorthMarq Capital arranged the

Advenir Refinances Two Apartment Properties Totaling 546 Units in Houston Area

HUMBLE AND SUGAR LAND, TEXAS — Florida-based investment firm Advenir Inc. has refinanced two apartment properties totaling 546 units in the Houston area. The properties include the 258-unit Advenir at Eagle Creek in the northern metro of Humble and the 288-unit Advenir at Woodbridge Reserve in the southwestern metro of Sugar Land. Eric Tupler, Josh Simon and Cortney Cole of HFF secured seven-year, fixed-rate loans with an average interest rate of 4.27 percent for the properties through …

Mason Joseph Closes $40.4M HUD Construction Loan for Austin Apartments

AUSTIN, TEXAS — San Antonio-based multifamily lender Mason Joseph Co. Inc. has closed a $40.4 million HUD loan for the construction and permanent financing of McKinney Falls, a 312-unit affordable apartment community in south Austin. The non-recourse loan was secured through HUD’s 221(d)(4) program and features a fixed interest rate for the 22-month construction period and subsequent 40-year term. McKinney Falls will offer amenities such as a fitness center, business center, conference room …

Walker & Dunlop Provides Two Bridge Loans Totaling $81.8M for Apartment Assets in Metro Dallas

GARLAND, TEXAS — Walker & Dunlop has provided two bridge loans totaling $81.8 million for the acquisition and repositioning of Landmark at Lake Village North and Landmark at Lake Village East, two apartment communities in the Dallas metro of Garland. The garden-style properties total 848 and 321 units, respectively, and include amenities such as multiple pools, basketball and volleyball courts, dog parks, fitness centers and outdoor grilling areas. Alex Inman of Walker & Dunlop …

Meridian Capital Arranges $25M Refinancing of Retail Facility in Brooklyn

NEW YORK CITY — Meridian Capital Group has arranged the $25 million refinancing of a retail and parking facility in Brooklyn. The 10-year CMBS loan features a rate of 4.86 percent and full-term, interest-only payments. Steven Ribiat, Morris Diamant and Tzvi Krieger of Meridian’s New York office arranged the financing for the transaction with the undisclosed borrower. Located at 236 Atlantic Ave., the 69,000-square-foot property was constructed less than 10 years ago and features 24,000 …

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