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Metropolitan Capital Advisors Arranges $3.5M Refinancing for Jackson Square Shopping Center

by Haisten Willis May 17, 2016

JACKSONVILLE, TEXAS — Metropolitan Capital Advisors has arranged the $3.5 million refinancing of an existing loan for Jackson Square Shopping Center, a 109,538-square-foot property in Jacksonville. Built in 1974, the shopping center was 96 percent leased at the time of financing to tenants including Tractor Supply, AutoZone, Blake Furniture, King’s Wok, Dollar General, First Choice Realty, Smith County Health, Legends Old Time Café and The Market. LegacyTexas Bank provided the non-recourse, 10-year swap loan, which features a fixed 5.7 percent interest rate. Jackson Square Shopping Center fronts State Highway 69, a major throughway in Jacksonville.

May 17, 2016

Loans Massachusetts Multifamily Northeast

Rockport Mortgage Corp. Arranges $55M in Refinancing for 465-Unit Apartment Community in Massachusetts

by Amy Works May 17, 2016

MEDFORD, MASS. — Rockport Mortgage Corp. has arranged a $55 million loan for the refinancing of Mystic Place Apartments, a mixed-income apartment community located in Medford. The property owner and borrower is an affiliate of WinnCompanies. Joe Mueller and Linda Pellegrino of Rockport Mortgage originated the loan, which utilized the HUD 223(f) program. Situated on nine acres, the community comprises three high-rise buildings featuring a total of 465 apartments. The refinance transaction was done in collaboration with MassHousing through its MAP/Ginnie Mae Mortgage Backed Security program. With the completion of the refinancing, the affordability restrictions on the 140 affordable housing units were extended through 2050.

May 17, 2016

Industrial Loans Midwest Ohio

NorthMarq Capital Arranges $4.9M Acquisition Loan for Industrial Property Near Dayton

by Christina Cannon May 17, 2016

VANDALIA, OHIO — NorthMarq Capital has arranged a $4.9 million acquisition loan for a 192,910-square-foot industrial property in Vandalia, approximately 10 miles north of Dayton. The Plow & Hearth Vandalia Distribution Center is located at 6400 Sand Lake Drive. The transaction was structured with a 10-year term and 20-year amortization schedule. Susan Branscome of NorthMarq arranged financing for the undisclosed 1031 exchange buyer through its relationship with a commercial bank.

May 17, 2016

Loans Multifamily New Jersey Northeast

Meridian Capital Group Arranges $218.2M in Acquisition Financing for Two Multifamily Properties in New Jersey

by Amy Works May 16, 2016

PISCATAWAY AND WAYNE, N.J. — Meridian Capital Group has arranged $218.2 million in acquisition financing for the purchase of Pleasant View Gardens and Wayne Village, two multifamily properties located in Piscataway and Wayne. Cammeby’s International LTD acquired the properties, which total 1,414 units. The 10-year Fannie Mae loans, provided by Capital One Multifamily Finance, feature 3.89 percent fixed rates and seven years of interest-only payments. Abe Hirsch, Zev Karpel of Meridian Capital arranged the financing for the borrower. Located at 258 1/2 Carlton Ave. in Piscataway, Pleasant View Gardens offers 1,142 apartments, a swimming pool, fitness center, business center and clubhouse. Located at 1353 Valley Road in Wayne, the 275-unit Wayne Village features a swimming pool, fitness center and dog park.

May 16, 2016

Industrial Loans Massachusetts Northeast

CBRE/NE Secures $9.1M Acquisition Financing for Two Industrial Properties in Massachusetts

by Amy Works May 16, 2016

MARLBOROUGH, MASS. — CBRE/New England’s Debt & Structured Finance team secured $9.1 million in acquisition financing for Calare Properties Inc. The company used loan proceeds to purchase two industrial/flex properties located at 261 Cedar Hill St. and 753 Forest St. within Cedar Hills Business Park in Marlborough. 261 Cedar Street is a 59,404-square-foot industrial/flex building that is fully occupied by four long-term tenants with staggered lease expiration dates. 753 Forest Street is a 75,000-square-foot property fully leased to five tenants. HarborOne Bank provided the financing. Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE arranged the financing for the borrower.

May 16, 2016

District of Columbia Loans Multifamily Southeast

Federal Capital Partners Provides $20.6M Construction Loan for D.C. Apartment Community

by John Nelson May 16, 2016

WASHINGTON, D.C. — Federal Capital Partners (FCP) has provided a $20.6 million mezzanine loan to finance the development of a 197-unit, Class A apartment community located at 1255 22nd St. N.W. in Washington, D.C.’s West End neighborhood. Eagle Bank provided the senior financing for the project, which will include the ground-up construction of a connected nine-story, 65-unit apartment building with five, two-story carriage homes with private parking. The development will comprise a mix of studios, one-bedroom and two-bedroom apartments, as well as a fitness center, rooftop pool and 5,000 square feet of retail space. The co-developers include Tasea Investment Co. and the Auger family. Peter Witham of The Greenwich Group International arranged the loan on behalf of the developers. Construction will begin in June.

May 16, 2016

Loans Multifamily Texas

Dougherty Secures $6.7M Fannie Mae Loan for Apartments in San Antonio

by Haisten Willis May 16, 2016

SAN ANTONIO — Dougherty Mortgage has secured a $6.7 million Fannie Mae loan for the acquisition of Edge Studio Apartments, a 128-unit market rate multifamily apartment property located in San Antonio. The 12-year Fannie Mae loan includes two years of interest-only payments and a 30-year amortization schedule. The loan was arranged for borrower Bluemel 2016 LLC through a partnership with Old Capital Lending and Dougherty’s Vienna, Va. office.

May 16, 2016

Loans Multifamily Texas

BMC Capital Provides $1.7M Loan for Multifamily Property in Dallas

by Haisten Willis May 16, 2016

DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $1.7 million loan for the cash-out refinance of a multifamily property located in Dallas. The loan featured a 3.5 percent, seven-year fixed rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.

May 16, 2016

California Loans Retail Western

NorthMarq Capital Arranges $3M in Acquisition Financing for Mixed-Use Property in Los Angeles

by Nellie Day May 16, 2016

LOS ANGELES — NorthMarq Capital has arranged $3 million in acquisition financing for 24th & Vermont, a 19,280-square-foot mixed-use property located at 451-467 N. Western Ave. in Los Angeles. The transaction was structured with a 10-year term with three years of interest-only payments, followed by a 27-year amortization schedule. David Blum of NorthMarq arranged the financing for the borrower through a regional bank.

May 16, 2016

Loans Midwest Multifamily Nebraska

NorthMarq Capital Arranges $4M Refinancing Loan for 126-Unit Apartment Property

by Christina Cannon May 16, 2016

OMAHA — NorthMarq Capital has arranged a $4 million dollar refinancing loan for Cedar Heights Apartments, a 126-unit multifamily property in Omaha. Jason Kinnison of NorthMarq arranged the financing for the undisclosed borrower through a relationship with a life insurance company. Amenities at Cedar Heights Apartments include a clubhouse, pool, pet play area and a grill and picnic area.

May 16, 2016

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