Loans

Aries Capital Arranges $9.3M Loan for Multifamily Property in Chicago

by Christina Cannon February 25, 2016

CHICAGO — Aries Capital has arranged a $9.3 million permanent loan for a 23-unit apartment building in Chicago. Douglas Crocker II and partners was the borrower The newly constructed six-story building is located at 858 N. Franklin St. The apartment building consists of one-, two- and three-bedroom units and features a fitness center. The 10-year, fixed-rate, non-recourse loan with 30-year amortization was secured at 100 percent of the total cost basis. Eric Jones of Aries Capital arranged the financing. PNC provided the Fannie Mae loan.

February 25, 2016

Loans Mississippi Multifamily Southeast

Capital One Arranges $11.8M Acquisition Loan for Apartment Community in Jackson

by John Nelson February 24, 2016

JACKSON, MISS. — Capital One has provided an $11.8 million, fixed-rate Freddie Mac loan for the acquisition of Tracewood Apartments, a 280-unit apartment community in Jackson. Chad Thomas Hagwood of Capital One Multifamily’s Southeast office arranged the 10-year, fixed-rate loan on behalf of the borrower, StoneRiver Co. Brandon Pate of Capital One’s Birmingham office managed the deal on behalf of Capital One. The loan structure includes two years of interest-only payments followed by a 30-year amortization schedule.

February 24, 2016

Kansas Loans Midwest Multifamily

NorthMarq Capital Arranges $13.3M in Financing for Two Multifamily Properties in Kansas

by Christina Cannon February 24, 2016

OVERLAND PARK AND SHAWNEE, KAN. — NorthMarq Capital has arranged a total of $13.3 million in refinancing loans for two multifamily properties in Kansas. Fiesta Square Apartments is located at 9551 W. 85th St. in Overland Park, and Haverford West Apartments is located at 11309 W. 75th St. in Shawnee. The two properties contain a total of 231 units and were built in 1972 and 1984 respectively. NorthMarq arranged financing for the undisclosed borrower through its relationship with Freddie Mac. The transactions were both structured with a 10-year term and 30-year amortization schedule. Greg Duvall of NorthMarq arranged the financing.

February 24, 2016

jeff-day-ceo-berkeley-point-capital-ccre

Loans Multifamily Top Stories

Berkeley Point Capital Closes $1.4B in Acquisition Loans for 25-Property Multifamily Portfolio

by Haisten Willis February 24, 2016

BETHESDA, MD. — Berkeley Point Capital has closed $1.4 billion in Freddie Mac acquisition loans for a 25-property, five-state portfolio on behalf of long-time client Starwood Capital Group. The portfolio’s properties total 8,597 units located in California, Colorado, Florida, Maryland and Virginia. The properties were built between the mid-1960s and late 2000s and include amenities such as clubhouses, fitness centers, dog parks, business centers, hot tubs, barbecue areas, saunas, playgrounds, and basketball, tennis, racquetball and volleyball courts. The 10-year, floating-rate loans include a five-year interest-only period with a 30-year amortization schedule. All loans closed on Jan. 26. “The closing of the portfolio was a huge success and was driven by the very focused and coordinated efforts of Starwood, Freddie Mac and Berkeley Point,” says Charlie Haggard, managing director of Berkeley Point Capital’s Irvine, Calif. office. “The relationships and familiarity between the various parties allowed for a smooth and timely closing.” Haggard and Kevin Mignogna led the financial effort for Berkeley Point Capital. Berkeley Point Capital is a multifamily capital provider with a portfolio of over $50 billion including 2,800 loans in 49 states. The firm offers Fannie Mae, Freddie Mac, FHA, CMBS and life company loans. Commercial real estate financing …

February 24, 2016

Loans Massachusetts Northeast Office

NorthMarq Capital Arranges $4.5M Acquisition Financing for Boston Office Property

by Amy Works February 23, 2016

BOSTON — NorthMarq Capital has arranged $4.5 million in acquisition financing for an office property located at 44-46 Plympton St. in Boston’s South End. The transaction was structured with a 10-year term and a 30-year amortization schedule. The property features 28,600 square feet of office space. Ed Riskstins of NorthMarq Capital’s Boston regional office secured the financing for the undisclosed borrower through NorthMarq’s relationship with a national bank.

February 23, 2016

Loans Office Washington Western

Columbia Pacific Advisors Provides $50M Acquisition Loan for Weyerhaeuser Campus in Seattle

by Nellie Day February 23, 2016

SEATTLE — Columbia Pacific Advisors has provided $50 million in first-mortgage financing for the 425-acre Weyerhaeuser corporate campus in the Seattle submarket of Federal Way. The campus is located at 33663 Weyerhaeuser Way S. The loan will allow the borrower, Industrial Realty Group (IRG), to purchase the campus. IRG plans to redevelop and lease or sell parts of the high-profile property to industrial and office users. Columbia Pacific Advisors manages more than $1.1 billion across a variety of alternative investment strategies, including real estate lending, private real estate equity, growth capital, private equity and distressed debt.

February 23, 2016

Loans Nevada Retail Western

NorthMarq Secures $26M Refinancing for Desert Marketplace in Las Vegas

by Nellie Day February 23, 2016

LAS VEGAS — NorthMarq Capital has secured the $26 million refinance of Desert Marketplace, a 251,785-square-foot mixed-use property located on West Warm Springs Road in Las Vegas. Scott Monroe of NorthMarq secured the financing, which is structured with a 3-year, interest-only term with two one-year extensions. The center is composed of six buildings occupied by tenants including Walgreens, TJ Maxx, Glazier’s Food Marketplace, Petco and Big 5.

February 23, 2016

Florida Loans Retail Southeast

Integra Real Estate Capital Arranges $21M Refinance of Orlando Shopping Center

by John Nelson February 23, 2016

ORLANDO, FLA. — Integra Real Estate Capital has arranged a $21 million loan for the refinancing of Shoppes at Alafaya, a 122,600-square-foot shopping center in Orlando. Built in 2011, the property is anchored by Toys “R” Us and Dick’s Sporting Goods. Russell Kimyagarov of Integra arranged the 10-year, non-recourse, fixed-rate loan on behalf of the borrower, an ownership group based in Miami.

February 23, 2016

Indiana Loans Midwest Missouri

KeyBank Arranges $11.7M in Financing for Five Parking Properties in Indiana, Missouri

by Christina Cannon February 23, 2016

CLEVELAND —Cleveland, Ohio-based KeyBank Real Estate Capital has provided a total of $11.7 million in first mortgage loans for multiple parking garages in Indiana and Missouri. MVP REIT sponsors the properties. KeyBank provided an $8.2 million loan for a portfolio consisting of City Park Garage and Surface Parking Lot, both located in the central business district of Indianapolis. KeyBank also provided an additional $3.5 million loan for three surface parking lots, two in St. Louis and one in Kansas City. Randy Martin of KeyBank arranged the CMBS, non-recourse loans.

February 23, 2016

Loans Massachusetts Mixed-Use Northeast Office Retail

Mesa West Capital Funds $40.8M Loan to Reposition Office Campus Near Boston

by Amy Works February 22, 2016

MAYNARD, MASS. — Mesa West Capital has provided Artemis Saracen Investments, a joint venture between Saracen Properties and Artemis Real Estate Partners, with $40.8 million in first mortgage financing to reposition a 1 million-square-foot office campus in Maynard. Loan proceeds will be used to implement an extensive capital improvement and leasing plan that will reposition the property to appeal to a wide variety of users. Formerly known as Clock Tower Place, the newly rebranded Mill & Main is a mixed-use development located 25 miles west of Boston. Planned improvements to the property include updated building systems, pedestrian plazas, a waterfront boardwalk, fitness facilities, boutique retail and gallery venues. Situated on 50 acres, the property includes 12 vintage brick-and-beam-style buildings overlooking a 14-acre mill pond. Constructed in 1847, the site originally served as a woolen mill until 1950 when it was converted to an office park. The property is currently 37 percent leased, including a recently signed lease with Stratus Technologies for 102,000 square feet, which is slated to open this spring. Jay Marshall of HFF arranged the financing.

February 22, 2016

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