REBusinessOnline

Colliers Mortgage Provides Fannie Mae Acquisition Loan for 224-Unit Multifamily Asset in Irving

IRVING, TEXAS — Colliers Mortgage has provided a Fannie Mae loan of an undisclosed amount for the acquisition of Courtyard of Roses, a 224-unit apartment community in Irving. The property, which consists of 17 two-story apartment buildings and a single-story clubhouse, was originally built in 1972 and renovated between 2015 and 2019. Colliers Mortgage originated the financing, which was structured with a 10-year term and a 30-year amortization schedule, through a partnership with Old Capital …

Natixis Provides $104.7M Loan for Industrial Portfolio Near Boston

WILMINGTON, MASS. — Natixis has provided a $104.7 million loan for the Boston Infill Portfolio, a collection of industrial buildings totaling 687,000 square feet in Wilmington, located north of the state capital. The portfolio offers proximity to Interstates 93 and 95 and was leased to 20 tenants at the time of the loan closing. Tim O’Donnell and David Douvadjian Jr. of Newmark arranged the five-year, floating-rate loan on behalf of the borrower, a joint venture between Oliver Street …

Meridian Capital Arranges $107.7M Loan for Refinancing of 55 Broadway Office Building

NEW YORK CITY — Meridian Capital has arranged a $107.7 million senior loan for the refinancing of 55 Broadway, a 32-story office building in Manhattan’s Financial District. The 356,059-square-foot building was 89 percent leased at the time of the loan closing to tenants such as The Kingdom of Morocco, Bank of Communications, Syscom and Assurant Inc. As part of the recapitalization, the borrower, Harbor Group International, also received a future funding component of up to $8.4 million for …

Lument Provides $12.9M Acquisition Loan for Multifamily Community in Dayton, Ohio

DAYTON, OHIO — Lument has provided a $12.9 million Fannie Mae loan for the acquisition of The Landing Apartments in Dayton. The multifamily community includes 166 units across several buildings. A high-rise building was originally developed in 1929 and townhouse-style buildings were added in 1991. Approximately 60 percent of the units are affordable to renters who earn 80 percent of the area median income. Steven Cox of Lument originated the 10-year loan, which features three years of …

Phase 3 Real Estate, Bain Capital Receive $400M Construction Loan for Life Sciences Campus in Brisbane, California

BRISBANE, CALIF. — Phase 3 Real Estate Partners and Bain Capital Real Estate have received a more than $400 million construction loan for Genesis Marina, a waterfront life sciences campus in Brisbane.Located on 8.7 acres within South San Francisco’s life sciences cluster, Genesis Marina will offer 570,000 square feet of Class A life sciences space.Tim Wright, Todd Sugimoto and Daniel Pinkus of JLL Capital Market arranged the financing through Barings LLC for the

Cushman & Wakefield Arranges $55M Refinancing for Heartline Apartments in Portland

PORTLAND, ORE. — Cushman & Wakefield has secured a $55 million loan for Security Properties to refinance Heartline Apartments, an apartment community located at 1250 NW Kearney St. in Portland.Dave Karson, Keith Padien, Chris Moyer, Alex Lapidus and Emily Johansen of Cushman & Wakefield Equity, Debt & Structured Finance arranged the financing for the borrower.Constructed in 2018, the 15-story Heartline Apartments features 218 apartments, a full suite of amenities and a …

Madison Realty Capital Provides $395M Loan for New Jersey Multifamily Portfolio

NEW YORK CITY — Madison Realty Capital, a New York City-based private equity firm, has provided a $395 million loan for a portfolio of three nearly completed residential properties totaling 1,161 units and a development site that is zoned for 4,200 units in New Jersey. The three buildings in various stages of construction are located in Bayonne, Raritan and Linden and will all offer studio, one- and two-bedroom units. The development parcel is located at the site of the former Bears Stadium, …

Grandbridge Arranges $5.7M Loan for Refinancing of Apartment Community in Sartell, Minnesota

SARTELL, MINN. — Grandbridge Real Estate Capital has arranged a $5.7 million loan for the refinancing of a 78-unit apartment community in Sartell, about 70 miles northwest of Minneapolis. Tony Carlson of Grandbridge arranged the nonrecourse loan, which features a 15-year term, a 20-year amortization schedule and a fixed interest rate. An insurance company provided the loan on behalf of the undisclosed

Axiom Capital Arranges $10.3M Loan for Refinancing of Office Building in Westport, Connecticut

WESTPORT, CONN. — Finance and advisory firm Axiom Capital Corp. has arranged a $10.3 million loan for the refinancing of an office building in Westport, located in the southern coastal part of the state. The building features proximity to Interstate 95 and U.S. Route 1 and is leased to tenants such as Northwestern Mutual Life Insurance, Charter Oak Equity and Lime Rock Partners. The nonrecourse loan was structured with a five-year term and a fixed interest rate. The borrower and direct lender …

Avison Young Secures $40M Financing for Midtown Exchange Project in Raleigh

RALEIGH, N.C. — Avison Young has secured a $40 million senior loan to fund the pre-development activities and horizontal infrastructure construction for Midtown Exchange, a $1 billion mixed-use development underway in Raleigh. The developer of Midtown Exchange, Dewitt Carolinas, received the funding for the 353,000-square-foot office tower. Wes Boatwright, Mike Yavinsky and Jon Goldstein of Avison Young led the financing transaction through an undisclosed lender.At full buildout, Midtown …

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