Loans

Thanksgiving Holdings Obtains $52.6M in Financing for Utah Office Complex

by Nellie Day June 3, 2016

LEHI, UTAH — Thanksgiving Holdings has received a $52.6 million loan for two office buildings in Lehi. The buildings are known as Thanksgiving Park V and Thanksgiving Park VI. They contain a total of 291,040 square feet. Fred Dockweiler and Mike Keach of KeyBank’s Commercial Mortgage Group arranged the non-recourse, first-mortgage loan for the five-story, Class A office buildings through a correspondent life-company relationship. The loan was used to refinance two existing KeyBank construction loans

June 3, 2016

Loans Retail Southeast Tennessee

Goldman Sachs Provides $107M Loan to CBL for Hamilton Place Mall in Chattanooga

by John Nelson June 2, 2016

CHATTANOOGA, TENN. — Goldman Sachs Mortgage Co. has provided a $107 million loan to CBL & Associates Properties Inc. for Hamilton Place Mall, an enclosed regional mall located at 2100 Hamilton Place Blvd. in Chattanooga. Located off I-75, the mall features six department stores and roughly 200 stores and services, including Sephora, J Crew Factory, bareMinerals, Banana Republic, Barnes & Noble Booksellers, White House | Black Market and Pandora. The 10-year loan features a 4.36 percent interest rate. CBL used the loan proceeds to retire an existing $98.2 million loan maturing in August. CBL owns Hamilton Place in a 90/10 consolidated joint venture with an undisclosed partner. CBL owns, holds interests in or manages 148 properties, including 92 regional malls/open-air centers. The properties are located in 31 states and total 85.5 million square feet, including 8.6 million square feet of non-owned shopping centers managed for third parties.

June 2, 2016

Hospitality Loans Southeast Virginia

PMZ Realty Capital Closes $38M Refinancing of Hotel Portfolio in Virginia

by John Nelson June 2, 2016

NEW YORK — New York-based PMZ Realty Capital LLC has closed a $38 million loan to refinance a four-property hotel portfolio in Virginia. The properties include the 136-room Aloft Chesapeake, 148-room Fairfield Inn & Suites by Marriott Williamsburg, 131-room SpringHill Suites by Marriott and the 121-room Residence Inn by Marriott Chesapeake Greenbrier. The undisclosed borrower will use the proceeds to retire existing debt on the four hotels and help recapitalize the company for future development and acquisition opportunities.

June 2, 2016

Loans Multifamily Oklahoma Texas

Harborview Closes $4.3M Acquisition Loan for Multifamily Property Near Oklahoma City

by Haisten Willis June 2, 2016

EDMOND, OKLA. — Harborview Capital Partners has arranged a $4.3 million bank loan for the purchase of a 98-unit multifamily property located in Edmond, Okla. The loan features a one month Libor-based interest rate. This is the most recent of several deals Harborview has closed on behalf of the Missouri-based lender, and the second loan Harborview has closed for the California-based property owner this year. Jeff Fuchs and Andrew Eisen of Harborview’s New York headquarters negotiated the loan. The loan includes specified funds for exterior and interior capital upgrades to the property.

June 2, 2016

Loans Massachusetts New Hampshire Northeast Retail

Fantini & Gorga Arranges $5.3M in Financing for Two Single-Tenant Properties

by Amy Works June 2, 2016

AMESBURY, MASS., AND LEBANON, N.H. — Fantini & Gorga has arranged $5.3 million in separate first mortgage financings for a freestanding Family Dollar in Amesbury and a newly constructed Tractor Supply Co. in Lebanon. Originally constructed in 1994 as a CVS/pharmacy, the Family Dollar location contains 8,536 square feet of gross leasable area. The property was renovated in 2014 and is now fully occupied by Family Dollar. Constructed in 2015, the build-to-suit Tractor Supply Co. store features 19,097 square feet of gross leasable area. John Gorga and Chris Miller of Fantini & Gorga represented the borrower, a long-term client, and arranged both financings with a regional financial institution.

June 2, 2016

Loans Office Texas

CapRidge Partners Buys 180,000 SF Office Park in Austin

by Haisten Willis June 1, 2016

AUSTIN, TEXAS — CapRidge Partners has acquired Lakewood on the Park, a 180,558-square-foot office campus in Austin’s northwest submarket, from Equity Commonwealth. Los Angeles-based Mesa West Capital provided financing for the acquisition and repositioning of the property. Located at 7600 Capital of Texas Highway (Loop 360), the property features two, three-story Class A office buildings on a 9.9-acre site overlooking Bull Creek. Lakewood on the Park includes both structured and surface parking. Built in 1998 by local developer HPI, the complex received the 2012-2013 TOBY Award from Building Owners and Managers Association for best low-rise suburban office park in Austin. Lakewood on the Park was 77 percent leased at closing. Tenants include Centaur Technology, Bulldog Solutions and USA Southwest. Mesa West’s $32.1 million non-recourse, floating-rate loan includes future funding for a capital improvement program and leasing costs associated with the repositioning and stabilization of the property. CapRidge’s renovation plans call for a redesign of all common areas including lobbies, corridors and restrooms, plus a new fitness center, tenant lounge, coffee bar and shared conference center. Exterior improvements will include new landscaping, signage and lighting. Andy Scott and Jim Curtin in the Dallas office of HFF arranged the financing. HFF also represented …

June 1, 2016

Loans Multifamily Texas

CBRE Capital Markets Provides $13.7M Loan for Creekwood Place in Metro Dallas

by Haisten Willis June 1, 2016

LANCASTER, TEXAS — CBRE Group, through its FHA lending platform, has refinanced Creekwood Place, a market rate apartment community located in Lancaster. The fully amortizing $13.7 million loan was funded through HUD’s Section 223(f), providing a 35-year, fixed-rate loan structure. The loan will finance the rehabilitation of the complex, a 200-unit Class B community with 176 two-bedroom units and 24 three-bedroom units. Constructed in 1997, the project is located 0.3 miles east of I-35E and 16 miles south of downtown Dallas. Chad Ricks and Jeff Shaw of CBRE’s Dallas office originated financing for Creekwood Place.

June 1, 2016

Loans Multifamily New York Northeast

Tremont Realty Capital Secures $6.6M in Refinancing for Housing Community in New York

by Amy Works June 1, 2016

RIVERHEAD, N.Y. — Tremont Realty Capital has arranged a $6.6 million loan for the refinance of Oakland Ridge MHC, a 100-space manufactured housing community located on the north side of Long Island in Riverhead. The non-recourse loan was structured with a 10-year term and a 30-year amortization schedule with two years of interest-only payments. John Chase of Tremont Realty Capital arranged the loan for the undisclosed borrower.

June 1, 2016

Loans Office South Carolina Southeast

VistaPointe Partners Secures $10.9M Refinancing of Office Building in Charleston

by John Nelson June 1, 2016

CHARLESTON, S.C. — VistaPointe Partners has secured $10.9 million in refinancing for a 90,334-square-foot office building located in the Suncom Center in Charleston. Seth Denison of VistaPointe Partners negotiated the transaction on behalf of the borrower. The building is fully leased to a credit tenant with a lease term expiring in two years. VistaPointe Partners brought in Hart Advisors Group, a firm that specializes in CMBS loan workouts, to extend the tenant’s lease by one year, with an additional five-year option.

June 1, 2016

Arizona Loans Multifamily Western

CBRE Arranges $19.7M Acquisition Loan for Assisted Living Community in Glendale

by Nellie Day May 31, 2016

GLENDALE, ARIZ. — CBRE has arranged a $19.7 million loan for the acquisition of MorningStar at Arrowhead, an 85-unit assisted living and memory care community in the Phoenix submarket of Glendale. The borrower is a joint venture between MorningStar Senior Living, Oakwood Real Estate Partners and Confluent. MorningStar developed the property, which opened in September 2015. The company will continue to operate the community after the transaction. The non-recourse, floating-rate loan features a three-year term, 36 months of interest-only payments and an all-in rate below 3 percent. A national bank provided the capital. Aron Will, vice president of CBRE National Senior Housing, arranged the financing. Oakwood is a commercial real estate private equity firm located in Denver. Confluent is a full-service real estate investment and development company, also based in Denver.

May 31, 2016

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