Loans

PCCP Provides Construction Loan for Residential, Retail Development

by Nellie Day November 13, 2015

FREMONT, CALIF. — PCCP has provided a senior construction loan to a joint venture between BHV CenterStreet Properties and JD Capital for the development of Artist Walk at 37070-3722 Fremont Blvd. Situated on 6.24 acres in the Centerville District of Fremont, the infill mixed-use project will feature 185 apartments and 28,641 square feet of ground-floor retail space. Plans for the development include three- and four-story buildings with surface parking, as well as continuous street-facing retail across three separate buildings along Fremont Boulevard with a mix of 12 to 17 restaurants and retailers. The apartment units will feature one- and two-bedroom layouts with nine-foot ceilings, washer/dryer, private balconies and upgraded finishes. On-site amenities will include a pool, clubhouse and business center.

November 13, 2015

Loans Multifamily New Jersey Northeast Seniors Housing

RED Capital Arranges $36.4M Construction Loan for Homestead at Hamilton in New Jersey

by Amy Works November 12, 2015

HAMILTON, N.J. — RED Capital Partners has arranged a $36.4 million first mortgage construction loan for the development of Homestead of Hamilton, seniors housing community in Hamilton. The borrower was to Homestead Senior Living LLC. The balance of the capital stack was provided by an institutional private equity group and Regional Capital group, which will provide EB-5 Financing, along with the sponsor’s equity. Pike Senior Housing Partners LLC has partnered with Solvere Senior Living, an affiliated company of Solutions Advisors LLC, to develop the community. Homestead at Hamilton will feature 96 independent living units, 75 assisted living units and 24 memory care units.

November 12, 2015

Loans Multifamily Texas

New York Life Originates Loan for Ascent Victory Park in Uptown Dallas

by Haisten Willis November 12, 2015

DALLAS — New York Life Real Estate Investors has originated construction-to-permanent loan financing for Ascent Victory Park, a 302-unit, Class A apartment complex set to be built in Dallas. The fixed-rate loan has a 10-year term and will be used to finance the construction and leasing of the property. Ascent Victory Park will be located adjacent to the American Airlines Center in the mixed-use Victory Park development in Uptown Dallas. Located less than one mile from the Dallas central business district, the property will offer access to Victory Park and Uptown retail, dining and entertainment amenities, as well as the Katy Trail bike path. John Lippmann of New York Life Real Estate Investors manages the national bridge loan and construction finance program. Andy Scott of HFF’s Dallas office acted as mortgage banker in the transaction.

November 12, 2015

Georgia Loans Mixed-Use Southeast

A10 Capital Provides $67M Acquisition Loan for Value-Add Portfolio in Metro Atlanta

by John Nelson November 12, 2015

ATLANTA — A10 Capital has provided a $67 million acquisition loan for a 12-property portfolio in metro Atlanta. The portfolio includes value-add retail, industrial and office properties throughout the greater Atlanta area. Gregg Shapiro of HFF arranged the non-recourse loan on behalf of the borrower, Stream Realty Partners. Stream will use the loan proceeds to fund the acquisition, renovation and future lease-up of the portfolio.

November 12, 2015

Indiana Industrial Loans Midwest

NorthMarq Secures $11.5M Refinancing for Industrial Property in Jeffersonville, Indiana

by Christina Cannon November 12, 2015

JEFFERSONVILLE, IND. — NorthMarq Capital has secured an $11.5 million refinancing loan for a 500,000-square-foot distribution warehouse in Jeffersonville, a suburb of Louisville, Ky. River Ridge IV is located at 600 Patrol Road. The loan features a 10-year term and 15-year amortization schedule. NorthMarq arranged the financing for the industrial developer through its correspondent relationship with a national life insurance company. Randall Waddell of NorthMarq secured the loan.

November 12, 2015

California Loans Multifamily Western

Berkadia Arranges $105M in Financing for Barcelona Apartments in Aliso Viejo

by Nellie Day November 11, 2015

ALISO VIEJO, CALIF. — Berkadia has arranged $105 million in financing for the 590-unit Barcelona Apartments in Aliso Viejo. The community is located at 23592 Windsong. The property was about 95 percent occupied at the time of closing. The loan features a 10-year term, 3.51 percent interest rate and interest-only payments for the full term. Mitch Thurston and Andy Ahlers of Berkadia originated the transaction through the firm’s Fannie Mae program.

November 11, 2015

Loans Multifamily Seniors Housing Washington Western

CBRE Arranges $19.1M in Financing for Acquisition of Community in Seattle

by Nellie Day November 11, 2015

SEATTLE — CBRE has arranged a $19.1 million loan for seniors housing investment company Capitol Seniors Housing (CSH) to acquire Maple Leaf Assisted Living & Memory Care, a 119-unit independent living, assisted living and memory care community in Seattle. The non-recourse, floating rate loan includes a three-year term with 24 months of interest-only payments. Of the proceeds, $16.6 million will be used for the acquisition and $2.5 million are for capital improvements. Planned improvements include upgrading units and renovating common areas, with particular emphasis on the memory care areas. Upon acquisition, CSH will lease the community to Washington-based operator Milestone Retirement Communities. Aron Will, executive vice president of CBRE National Senior Housing, arranged the financing.

November 11, 2015

Loans Multifamily Texas

DPG Investments, Affiliates Structure $9.8M Equity Capital for Apartment Acquisition

by Haisten Willis November 11, 2015

WEBSTER, TEXAS — DPG Investments LLC and affiliates have structured $9.8 million in limited partner capital, equating to approximately 95 percent of the required equity, for the acquisition and renovation of a 400-unit apartment complex in the Clear Lake submarket of Houston. The property, called The Falls at Clear Lake, is located on nearly 24 acres in Webster. The Falls is close to the Webster medical corridor and employment centers including the Port of Houston and NASA.

November 11, 2015

Loans Massachusetts Multifamily Northeast

Federal Capital Partners Provides $14.5M in Construction Financing for 33-Unit Luxury Condos in Boston

by Amy Works November 11, 2015

BOSTON — Federal Capital Partners has provided a $14.5 million senior construction loan for the development of a condominium project located at 170 W. Broadway in South Boston. The loan was funded in partnership with Boston-based The Grossman Companies. KEM Development Co. is developing the project, which will feature 33 one- and two-bedroom luxury condos, including eight penthouses with rooftop decks, below-grade garage parking and 5,000 square feet of ground-floor retail space. Construction began in August and delivery is slated for fourth quarter 2016.

November 11, 2015

Florida Loans Retail Southeast

KeyBank Secures $11M CMBS Loan for Retail Center in Jacksonville

by John Nelson November 11, 2015

JACKSONVILLE, FLA. — KeyBank Real Estate Capital has secured an $11 million non-recourse, CMBS loan for University Center in Jacksonville. The 102,885-square-foot shopping center is fully leased to tenants such as LA Fitness, T.J. Maxx, Beall’s and Dollar Tree. Publix shadow anchors the center. Randy Martin of KeyBank secured the loan on behalf of the borrower.

November 11, 2015

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