CBRE Places $32.5M in Financing for Seattle South Lake Union Office Building

SEATTLE — CBRE, on behalf of Swift Real Estate Partners, has placed $32.5 million in financing for 425 Pontius, an office building located in Seattle’s South Lake Union neighborhood. The borrower acquired the property in March 2022.Swift Real Estate Partners will use the financing for the acquisition and renovation of the four-story, 75,000-square-foot office building. The property features four stories of office space, surface parking and two levels of underground parking. The building …

May 24, 2022Loans, Office, Washington, Western

Gantry Arranges $24M Loan for Refinancing of Southern California Retail Center

MOORPARK, CALIF. — San Francisco-based mortgage banking firm Gantry has arranged a $24 million bridge loan for the refinancing of Village at Moorpark, a retail center located at 706-790 Los Angeles Ave. in Moorpark. Amazon Fresh, Dover Saddlery and other local, regional and national tenants occupy the 129,000-square-foot property.Mark Ritchie and Austin Ridge of Gantry’s Los Angeles office arranged the financing on behalf of the borrower, a private real estate investor. An investment …

May 24, 2022California, Loans, Retail, Western

Parkview Financial Provides $21.5M Loan for Hotel Conversion Project in Newark

NEWARK, N.J. — Los Angeles-based Parkview Financial has provided a $21.5 million loan for the acquisition and conversion of a 13-story vacant hotel located at 810 Broad St. in Newark. The borrower, a subsidiary of Winchester Equities LLC, plans to transform the property, which was originally constructed in 1912 as the headquarters of First National State Bank, into a multifamily complex. Upon completion, which is slated for late 2022, the property will house 106 apartments in studio and …

May 24, 2022Development, Hospitality, Loans, Multifamily, New Jersey, Northeast

Rising Interest Rates and Inflation to Fuel Change in Property Markets

Beginning in the fourth quarter of 2020, commercial real estate buyers and sellers moved off the sidelines and began fueling an impressive investment sales rebound as many pandemic-related lockdowns and restrictions eased or ended. The rush to purchase hard assets hit its apex a year later when commercial property sales surged to a record $362 billion in the fourth quarter of 2021 alone, according to Real Capital Analytics, a part of MSCI Real Assets that tracks property transactions of $2.5 …

May 24, 2022Content Partner, Features, Healthcare, Industrial, Loans, Midwest, Multifamily, NAI, Northeast, Office, Southeast, Texas, Western

Lument Provides $22.6M Acquisition Loan for Junction Apartments in Arlington

ARLINGTON, TEXAS — Lument has provided a $22.6 million bridge loan for the acquisition of The Junction, a 252-unit apartment community in Arlington. The garden-style property was built in 1970 and comprises 28 buildings, a leasing office and a laundry facility. Amenities include a pool, outdoor grilling areas, dog park and a playground. The sponsor, American Ventures, plans to use a portion of the proceeds to fund capital improvements. Ted Nasca led the transaction for

May 23, 2022Loans, Multifamily, Texas

MassHousing Provides $205M in Financing for 10 Affordable Seniors Housing Communities

BOSTON — MassHousing has provided $205 million in financing for 10 affordable seniors housing communities totaling 931 units that are located in various parts of Massachusetts. The borrower, Providence Realty Investment LLC, will use the proceeds to refinance existing debt and preserve affordability. Providence Realty Investment previously utilized $125 million from MassHousing to purchase the communities in 2011. At that time, nearly a third of the 931 apartments involved were at risk of …

May 23, 2022Affordable Housing, Loans, Massachusetts, Multifamily, Northeast, Seniors Housing

Alliant Provides $16M Loan for Refinancing of Industrial Building in Sterling Heights, Michigan

STERLING HEIGHTS, MICH. — Alliant Credit Union has provided a five-year, $16 million loan for the refinancing of a 370,656-square-foot industrial building in Sterling Heights, about 20 miles north of downtown Detroit. The property includes 47,856 square feet of office space. The borrower was a private investor group that closed an original loan with Alliant in December

May 23, 2022Alliant Credit Union, Industrial, Loans, Michigan, Midwest

Good Investment Partners Receives $27M Acquisition Loan for Boulder Industrial, Office Portfolio

BOULDER, COLO. — Good Investment Partners (GIP) has received a $27 million loan for the acquisition of a light industrial and office portfolio comprising six properties in Boulder. The single- and multi-tenant buildings are located at 6797, 6837 and 6899 Winchester Circle and 4695, 4697 and 4699 Nautilus Court.Completed between 1982 and 2001, the portfolio was 87.8-percent leased to 23 tenants at the time of the loan closing. The buildings offer clear heights ranging from 13.6 to 20.5 …

May 23, 2022Colorado, Industrial, Loans, Office, Western

JLL Arranges $54M Loan for Refinancing of Retail Portfolio in Denver, Fort Collins Areas

ARVADA, AURORA, DENVER AND FORT COLLINS, COLO. — JLL has arranged a $54 million loan for the refinancing of a four-property, 436,055-square-foot retail portfolio in Denver and Fort Collins. The borrower is Denver-based Gart Properties.Eric Tupler of JLL placed the 10-year, fixed-rate loan with an undisclosed life insurance company. Gart used the proceeds from the nonrecourse loan to retire existing debt and to realize significant value that has been created through the renovation and …

May 20, 2022Colorado, Loans, Retail, Western

Aztec Group Arranges $81M Construction-to-Perm Loan for Metro Miami Mixed-Use Development

HIALEAH, FLA. — Aztec Group has arranged an $81 million construction-to-perm loan for the development of Residences and Shoppes of Highland, a mixed-use development underway in the Miami suburb of Hialeah. The developer/borrower is an affiliate of South Florida-based Dacar Management, a development firm led by Alberto Micha. An affiliate of New York Life Insurance Co. provided the non-recourse, fixed-rate loan, which has an initial three-year term and converts to a 27-year self-amortizing …

May 20, 2022Development, Florida, Loans, Mixed-Use, Multifamily, Retail, Southeast