REBusinessOnline

Ziegler Arranges $77.1M Bond Financing for Seniors Housing Expansion in Dallas

DALLAS — Ziegler has arranged $77.1 million of bond financing for Presbyterian Village North, a continuing care retirement community in North Dallas. The proceeds of the bonds will finance an expansion project that will add 112 new independent living units in a five-story building named The Hawthorne. The community sits on a 66-acre campus and currently consists of 89 buildings with 253 independent living units, 101 assisted living units, 44 memory care units and a health center operating 106 …

Loans, Multifamily, Seniors Housing, Texas

Colliers Mortgage Provides Three HUD Loans Totaling $18.8M for Age-Restricted Properties in Iowa, Minnesota

CEDAR FALLS AND MARSHALLTOWN, IOWA, AND AUSTIN, MINN. — Colliers Mortgage has provided three HUD 223(a)(7) loans totaling $18.8 million for the refinancing of three age-restricted multifamily properties in Iowa and Minnesota. The properties, totaling 162 units, include Village Cooperative of Cedar Falls, Village Cooperative of Marshalltown and Village Cooperative of Austin. The market-rate communities are restricted to residents age 62 and older. The refinancing enabled the undisclosed …

Iowa, Loans, Midwest, Minnesota, Multifamily, Seniors Housing

Greystone Provides $10.4M Bridge Loan for Skilled Nursing Facility in Boonville, New York

BOONVILLE, N.Y. — Greystone has provided a $10.4 million bridge loan for the refinancing of Sunset Nursing & Rehabilitation Center, a 120-bed skilled nursing facility in Boonville, about 70 miles northwest of Syracuse. The property was built in phases between 1964 and 1985 and renovated in 2008. Fred Levine of Greystone originated the loan on behalf of the borrowers, Sunset PropCo LLC and Sunset Operating

Loans, Multifamily, New York, Northeast, Seniors Housing

Berkadia Negotiates $49.2M Sale of Raven Multifamily Property in Phoenix

PHOENIX — Berkadia has arranged the sale of Raven, a garden-style multifamily property located in Phoenix. A private Arizona investor sold the asset for $49.2 million.Located at 3606 E. Baseline Road, Raven features 192 apartments in a mix of one-, two- and three-bedroom layouts offering full-size washers/dryers, nine-foot ceilings, spacious closets and private patios or balconies. Completed in 2001, the property also includes a swimming pool and 24-hour fitness center.Mark Forrester, …

Acquisitions, Arizona, Loans, Multifamily, Western

NorthMarq Arranges $65.1M Refinancing for Summerly at Zanjero Apartments in Glendale, Arizona

GLENDALE, ARIZ. — NorthMarq has arranged $65.1 million for the cash-out refinancing of Summerly at Zanjero Apartments in Glendale. Brandon Harrington and Tyler Woodard of NorthMarq’s Phoenix Debt and Equity team executed the permanent, floating-rate loan through Freddie Mac for the undisclosed borrower. The loan features a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule.Built in 2019, Summerly at Zanjero features 340 apartments in a mix …

Arizona, Loans, Multifamily, Western

ACRE Provides $78.5M Bridge Loan for Final-Phase Construction of Detroit City Club Apartments

DETROIT — Asia Capital Real Estate (ACRE) has provided a $78.5 million bridge loan to City Club Apartments (CCA) for the developer’s multifamily project in Detroit. The loan, provided through ACRE’s latest debt fund, will fund the final phase of construction on the six-story, 288-unit development in the city’s central business district.Located at 1501 Washington Blvd., Detroit City Club Apartments is currently 95 percent complete. Residents are expected to begin taking occupancy as …

Loans, Michigan, Midwest, Multifamily, Top Stories

Dwight Capital Provides $27.9M HUD Loan for Refinancing of North Austin Apartments

AUSTIN, TEXAS — New York City-based Dwight Capital has provided a $27.9 million HUD 223(f) loan for the refinancing of Terrazzo Apartments, a 224-unit multifamily community in North Austin. Built in 1997 and renovated in 2007, the property consists of 12 three-story buildings on an 18-acre tract. Units feature one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, business center, coffee bar, clubhouse and a playground. Brandon Baksh and Brian Yee of Dwight …

Loans, Multifamily, Texas

KeyBank Secures $10.5M Refinancing for 90-Bed Skilled Nursing Facility in Ohio

BRUNSWICK, OHIO — KeyBank Real Estate Capital has secured a $10.5 million FHA 232/223(f) loan for the refinancing of Brunswick Pointe Transitional Care in Brunswick, about 20 miles southwest of Cleveland. Built in 2017, the 90-bed skilled nursing facility offers short- and long-term care, physical, occupational and speech therapy, as well as wellness programs, dining and nutrition services, and personal care assistance. John Randolph and Henry Alonso of KeyBank structured the fixed-rate, …

Loans, Midwest, Multifamily, Ohio, Seniors Housing

JLL Arranges $17M Construction Loan for Manhattan Multifamily Project

NEW YORK CITY — JLL has arranged a $17 million construction loan for a 12-unit multifamily project that will be located at 66 Clinton St. on the Lower East Side of Manhattan. Kriss Capital provided the loan to the borrower, a partnership between Vault Development, Borough Equities and TLM. Units will feature private balconies, and residents will have access to a rooftop deck and a fitness center. Completion is slated for December

Development, Loans, Multifamily, New York, Northeast

Eyzenberg & Co. Arranges $7.5M Loan for Acquisition, Renovation of Apartment Community in Memphis

MEMPHIS, TENN. — Eyzenberg & Co. has arranged a $7.5 million loan for Cottonwood Apartments in Memphis. A majority of the property’s 384 units were damaged during an October 2019 tornado. The community comprises 47 two-story buildings that offer one- and two-bedroom residences. Communal amenities include a pool, tennis court, playground and laundry facilities. The asset is situated at 4653 Cotton Drive, 12 miles southeast of downtown Memphis. David Eyzenberg and Ekaterina Brody of …

Acquisitions, Loans, Multifamily, Southeast, Tennessee
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