OMAHA, NEB. — Q10 | Daisley Ruff Financial has arranged $7 million in permanent financing for Aksarben Village 2, a Class A office property in Omaha. The loan features a 10-year, fixed-rate term with a 25-year amortization schedule. The non-recourse loan also features no holdbacks for tenant improvements or reserves. Steve Ruff and Eric Petersen of Q10 | Daisley Ruff Financial arranged the financing.
EAGLEVILLE, PA. — Greystone has provided a $46 million bridge loan for the acquisition of Riverview Landing at Valley Forge in Eagleville. Nathan Schuss of Greystone originated the loan on behalf of Liss Property Group. Greystone presented the financing opportunity with an introduction to a joint venture equity partner, Azure Investments. This opportunity enabled Liss Property Group to acquire the 310-unit multifamily property, which features a resort-style pool and clubhouse, fitness center and business center.
JACKSONVILLE, FLA. — Aileron Investment Management has arranged a $13.8 million loan for the construction of a 122-room Residence Inn by Marriott hotel located in Jacksonville. The transaction was structured as an SBA 504 loan, with Aileron providing an $8.7 million first mortgage loan, and a $5.1 million interim second mortgage loan. Upon completion of the construction, the loan will convert to long-term permanent financing. Florida Business Development Corp. was the CDC on the transaction.
EAU CLAIRE, WIS. — Dougherty Funding LLC has closed a $15.3 million construction loan for Hotel Lismore, a DoubleTree Hotel by Hilton. Dougherty provided the financing to ECHL LLC. The construction involves redeveloping an existing hotel property located in downtown Eau Claire. The new full-service hotel will feature 112 rooms and a 14,406-square-foot convention center. The property will also include a fine dining restaurant, coffee shop, bar/lounge, fitness center and a business center. The convention center renovation is complete and the space is available for use. The entire project is slated for completion by April 2016. Dougherty Funding was the lead lender in the transaction and will also service the loan.
CINCINNATI, OHIO — NorthMarq Capital has arranged $7.2 million in acquisition financing for Kemper Point in Cincinnati. Kemper Point is a 96,418-square-foot office building located at 7870 Kemper Road. An affiliate of Smith/Hallemann Partners was the borrower. The transaction was structured with a 10-year term and 25-year amortization schedule. Susan Branscome of NorthMarq arranged the financing. Tenants in the office building include Comey & Shepherd Relators, Hazen and Sawer P.C. and Kiwiplan Inc.
HONOLULU, HAWAII — Walker & Dunlop Inc. (NYSE: WD) has arranged a $39.7 million loan for Plaza at Pearl City, a 158-bed independent living, assisted living, memory care and respite stay community in Honolulu. MW Group owns the property, which overlooks Pearl Harbor. Keith Melton and David Strange, managing directors, and Russell Dey, vice president, led the Walker & Dunlop team. The mortgage was structured as a 40-year, non-recourse, fixed-rate, permanent HUD loan. Recently, Walker & Dunlop also closed a $37 million HUD loan earlier in the year with MW Group for Plaza at Monalua, a 122-unit assisted living facility also in Honolulu.
SANGER, TEXAS — Drever Capital Management has acquired Trails of Sanger, a 98 percent occupied, 208-unit apartment community in Sanger, from InterCapital Partners. Brian O’ Boyle Sr. and his son, Brian O’ Boyle Jr., with ARA Newmark, brokered the transaction for InterCapital. A prior relationship with lenders Pillar Finance and Fannie Mae also helped Drever Capital assume the existing Fannie Mae loan on Trails of Sanger, according to Darby Keele, asset manager for Cohen Financial LLC of Overland Park, Kan., Fannie Mae’s delegated underwriter on the debt.
ATLANTA — Cushman & Wakefield’s equity, debt and structured finance group in Atlanta has arranged a $90 million joint venture recapitalization of a five-property multifamily portfolio. The borrower, Peak Capital Partners, owns and operates the portfolio, which spans 1,249 units in Atlanta, Charlotte, Denver and Dallas. Mike Ryan, Telly Fathaly, John Alascio, Jeff Walker and Brian Linnihan of Cushman & Wakefield arranged the financing, which includes joint venture equity provided by an institutional investor and debt from GSE and conduit lenders.
AUSTIN, TEXAS — Berkadia has originated $17.5 million in acquisition financing for the Holiday Inn Austin Midtown. Stuart Wernick and Eli Gershenson of Berkadia’s Dallas office secured the five-year, fixed-rate financing with a senior and mezzanine structure on behalf of the borrower, a partnership between Alliance Development and Compass Lodging Advisors. Berkadia selected two lenders to help secure the necessary loan proceeds required by the borrower. Located at 6000 Middle Fiskville Road, Holiday Inn Austin Midtown rises nine stories and includes 189 rooms, as well as 15,000 square feet of meeting and conference room space. Hotel amenities include a pool, fitness center, business center and cocktail bar.
AUSTIN, TEXAS — KeyBank Real Estate Capital has secured a $16.6 million, non-recourse CMBS first mortgage for Residence Inn in Austin. The 112-room hotel is an extended-stay property. Ashley Harkness and Chuck Butterworth of Key’s commercial mortgage group secured the financing.