REBusinessOnline

Arbor Provides $12.4M Fannie Mae Acquisition Loan for Greenville Apartment Community

GREENVILLE, S.C. — Arbor Realty Trust Inc. has provided a $12.4 million Fannie Mae acquisition loan for the Hudson Orchard Park, a 172-unit apartment community in Greenville. Ryan Duff of Arbor’s New York City office originated the loan. Built in 1984, Hudson Orchard Park features outdoor amenities including a barbecue/picnic area, clubhouse with residential kitchen, large patios and balconies, pet play area and a pool, fitness center and volleyball court. Located at 49 Orchard Park Drive, …

JLL Arranges $110M Refinancing for 15-Building Bellefield Office Park in Metro Seattle

BELLEVUE, WASH. — JLL has secured $110 million loan for the refinancing of Bellefield Office Park, a 15-buliding campus in Bellevue, a city 10 miles east of Seattle across Lake Washington. The borrowers are Lionstone Investments and Talon Private Capital. Situated on 56 acres at 1150-1180 114th Ave SE, Bellefield Office Park’s 15 buildings offer a combined total of 513,385 square feet. The buildings were renovated between 2013 and 2017 and offer a variety of tenant amenities including a …

Dougherty Arranges Fannie Mae Acquisition Loan for 100-Unit Apartment Property in Howe, Texas

HOWE, TEXAS — Dougherty Mortgage LLC has arranged an undisclosed amount of Fannie Mae financing for the acquisition of Westwood Manor Apartments, a 100-unit multifamily community in Howe, located north of Dallas near the Oklahoma border. The loan, which carried a 10-year term and a 30-year amortization schedule, was arranged through a partnership with Old Capital Lending for the borrower, Westwood Manor Apartments

Greystone Arranges $50M Loan for Refinancing of Brooklyn Multifamily Building

NEW YORK CITY — Greystone has arranged a $50 million bridge loan for the refinancing of  House No. 94, a recently constructed 75-unit multifamily building in the Williamsburg neighborhood of Brooklyn. An affiliate of Ares Management LLC provided the five-year, variable-rate loan to the borrower, an affiliate of Hudson Cos. Inc. Completed in 2018, the property offers mixed-income housing, ground-floor retail space and amenities including a 12,000-square-foot courtyard, tenant lounge and …

Lancaster Pollard Closes $12.7M Bridge Loan for Seniors Housing Asset in Yuma, Arizona

YUMA, ARIZ. — Lancaster Pollard Mortgage Co.’s affiliate OREC Structured Finance Co. has arranged a $12.7 million bridge loan for River Valley Estates, a seniors housing community in Yuma. The borrower is Mission Senior Living. The community features 56 assisted living units and 32 memory care beds. The transaction refinances the existing debt on the facility and provides equity at initial closing with an earn-out to allow the client to extract additional cash upon achievement of …

Berkadia Arranges $23.2M Refinancing for Retail Property in Michigan

SHELBY TOWNSHIP, MICH. — Berkadia has arranged a $23.2 million loan for the refinancing of The Shops at Stony Creek, a 115,000-square-foot shopping center in Shelby Township. LA Fitness, TJ Maxx, Ulta, Petco and Five Below anchor the property, which is located at the southwest corner of 26 Mile Road and Van Dyke Avenue. Kroger shadow anchors the property. Colin Callaghan and Aaron Moll of Berkadia arranged the 10-year, fixed-rate loan, which features a 30-year amortization and a 75 percent …

JLL Secures $32M Loan for Refinancing of Shopping Center in Lyndhurst, New Jersey

LYNDHURST, N.J. — JLL has secured a $32 million loan for the refinancing of Veterans Square Town Center, a 136,928-square-foot shopping center in Lyndhurst, a western suburb of New York City. Originally constructed in 2000, Veterans Square Town Center is fully occupied by 13 tenants, including anchor tenant ShopRite, HomeGoods, PetSmart and Supercuts. PGIM Real Estate Finance provided the nonrecourse loan, which carries a 10-year term and a fixed rate. Proceeds will be used to refinance an …

Kawa Provides $26M Loan to Help Fund $134.5M Acquisition of Mixed-Use Development in Ohio

MIAMISBURG, OHIO — Kawa has provided a $26 million loan to help fund the $134.5 million acquisition of Austin Landing, an 834,630-square-foot mixed-use project in Montgomery County’s Miamisburg. Austin Landing, constructed in phases between 2009 and 2019, features office and retail space and is more than 95 percent occupied. Office tenants include Wells Fargo, UBS, Merrill Lynch, Raymond James and Baird. Retail tenants include Kroger, Kohl’s, a movie theater and 16 restaurants. An …

Sims Mortgage Funding Arranges $14.1M Financing for Liliha Healthcare Center in Honolulu

HONOLULU — Sims Mortgage Funding (SMF), a subsidiary of HJ Sims, has arranged $14.1 million in financing for Liliha Healthcare Center, a 92-bed skilled nursing facility in Honolulu. Liliha, and its sister facility, Nuuanu Hale, were collateralized with a single, high-interest-rate bridge loan that featured a short maturity and expensive extension provisions. SMF arranged a HUD-insured loan with a fixed interest rate and long term to refinance the existing debt. To complete the …

Roseland Residential Receives $300M Construction Loan for 57-Story Apartment Building in Jersey City

JERSEY CITY, N.J. — Roseland Residential Trust, a subsidiary of locally based REIT Mack-Cali Realty Corp. (NYSE: CLI), has received a $300 million loan for the construction of The Charlotte, a 57-story apartment tower on the fringe of New York City. The Charlotte will be located at 25 Christopher Columbus Drive in Jersey City and feature 750 Class A apartments, 37 of which will be earmarked for affordable housing. In addition, Roseland Residential will construct a 36,000-square-foot …

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