REBusinessOnline

Eastern Union Secures $8.2M Acquisition Loan for Two Retail Centers in Petersburg, Virginia

PETERSBURG, VA. — Eastern Union has secured an $8.2 million loan for the acquisition of South Crater Square and Pinehill Plaza, two single-story retail centers in Petersburg. Marc Tropp of Eastern Union arranged financing for the acquisition, which had a sales price of $10.3 million in total, on behalf of the buyer, Pikesville, Md.-based America’s Realty.The retail centers, which total 192,510 rentable square feet, are situated opposite from each other along South Crater Road. Located …

Edison Equity Receives $23M Construction Loan for 55 Resort Apartments in Greeley, Colorado

GREELEY, COLO. — Dallas-based Edison Equity Management has received $23 million in construction financing for the development of 55 Resort Apartments, an age-restricted multifamily property located in Greeley.Located on the former site of the Garnsey & Wheeler Ford dealership, 55 Resort Apartments will feature 84 apartments for adults aged 55 or older. Each unit will feature stainless steel appliances, quartz countertops, hardwood flooring and tiled bathrooms. The four-story complex …

NorthMarq Arranges $17.5M CMBS Loan for Refinancing of Staten Island Shopping Center

NEW YORK CITY — NorthMarq has arranged a $17.5 million CMBS loan for the refinancing of Eltingville Shopping Center, a 98,523-square-foot retail property in Staten Island. Tenants include Rite Aid, Advance Auto Parts and Santander Bank. Charles Cotsalas and Robert Delitsky of NorthMarq arranged the 10-year, interest-only loan through an undisclosed direct lender. The borrower was also not

MMG Equity Receives $16.8M Refinancing for Shopping Center in Miami Gardens

MIAMI GARDENS, FLA. — MMG Equity Partners has received $16.8 million to refinance Miami Gardens Shopping Center, located at 18350 NW 7th Ave. in Miami Gardens. Chris Drew, Brian Gaswirth and Reid Carleton of JLL Capital Markets arranged the debt package through Guardian Life Insurance Co. of America.Miami Gardens Shopping Center is a 117,829-square-foot, grocery-anchored development located on the northwest corner of Miami Gardens Drive and NW 7th Avenue. The shopping center was 97 …

JLL Arranges $85.1M in Financing for Development of Apartment Complex in Suburban Minneapolis

EDEN PRAIRIE, MINN. — JLL Capital Markets has arranged $85.1 million in joint venture equity and construction financing for Paravel, a 246-unit apartment complex in the Minneapolis suburb of Eden Prairie. JLL secured a $59.5 million construction-to-permanent, fixed-rate loan through a life insurance company, and sourced $25.6 million in joint venture equity from a high-net-worth family office. Located at 8300 Commonwealth Drive, Paravel will be part of the Castle Ridge mixed-use development. …

Natixis Provides $53M Loan for Refinancing of River Haus Apartments Near Cincinnati

COVINGTON, OHIO — Natixis has provided a $53 million loan for the refinancing of River Haus Apartments in Covington, about two miles from downtown Cincinnati. The borrower, Flaherty & Collins, completed development of the 192-unit, Class A multifamily community in 2019. Daniel Geuther and Michael Slovitt of Berkadia arranged the five-year, floating-rate loan, which replaced the initial construction

AAA Management Receives $47.6M Construction Loan for Geo Queen Anne Apartments in Seattle

SEATTLE — San Diego-based AAA Management has obtained $47.6 million in financing for the construction of Geo Queen Anne, an apartment development in Seattle’s Queen Anne submarket.Located at 2222 15th Ave. West, the six-story, 148,159-square-foot building will feature 168 apartments, 20 percent of which will be designated as affordable. Community amenities will include a fitness center, package center, rooftop terrace with fireplaces and barbecues, bike storage and 96 parking spaces in …

JLL Arranges $450M Refinancing for Hyatt Regency Resort in Honolulu

HONOLULU — JLL has arranged a $450 million loan to refinance debt on the Hyatt Regency Waikiki Beach Resort & Spa in Honolulu.Situated on a three-acre site, the hotel totals 1,230 rooms across two 40-story buildings with views of Waikiki Beach and downtown Honolulu. The resort features three dining venues, a spa, outdoor pool, 24-hour fitness center and 20,510 square feet of meeting space.The property also houses the Pualeilani Atrium Shops to offer guests an onsite shopping …

CBRE Originates $42M Construction Financing for LGBTQ-Focused Seniors Housing Community in Palm Springs, California

PALM SPRINGS, CALIF. — CBRE Senior Housing has arranged $42 million in construction financing for Living Out Palm Springs, a luxury active adult community that will cater primarily to LGBTQ residents.Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing arranged the financing on behalf of a joint venture between KOAR International Inc. and a group of high-net-worth investors.The financing is a non-recourse, four-year loan with full-term interest-only payments and an extension …

NorthMarq Arranges $27.6M Refinancing for Glacier Run Multifamily Property in Puyallup, Washington

PUYALLUP, WASH. — NorthMarq has secured a $27.6 million refinancing for Glacier Run Phase II, an apartment community located at 12020 Sunrise Blvd. East in Puyallup.Bob Spiro and Scott Moline of Newmark arranged the financing, which features a 10-year term on a 30-year amortization schedule, through its in-house Fannie Mae team.Built in 2021, Phase II includes 144 apartments in a mix of one-, two- and three-bedroom layouts with high-end finishes, stainless steel appliances and in-unit …

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