Loans

EagleBridge Capital Arranges $7.5M Loan for Four-Building Portfolio

by Amy Works June 23, 2015

NORWOOD, MASS. — EagleBridge Capital has arranged $7.5 million in permanent mortgage financing for four buildings located on Vanderbilt Avenue in Norwood. Ted Sidel and Brian Sheehan of EagleBridge arranged the loan, which was provided by a leading financing institution. Totaling 149,550 square feet, the four properties include 36-76, 45, 190-196 and 375 Vanderbilt Ave., including the Vanderbilt Club and three flex buildings. Tenants at the properties include Office Gallery International, Subway, Orange Leaf Frozen Yogurt, Comcast, International Auto Parts, Exide Technologies, Home Theater Concepts and the Neponsit Valley Chamber of Commerce.

June 23, 2015

Loans Michigan Midwest Multifamily Seniors Housing

Love Funding Secures $9.1M in Refinancing for Westhaven Manor

by Amy Works June 23, 2015

WESTLAND, MICH. — Love Funding has secured $9.1 million in refinancing for Westhaven Manor, a 144-unit, age-restricted apartment community in Westland, a western suburb of Detroit. Love Funding secured the loan through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Proceeds from the loan will be used to upgrade the property with improvements and fund a replacement reserve. Built in 1986, the property is restricted to residents 62 years of age or older. Bruce Gerhart of Love Funding arranged the financing for the undisclosed borrower.

June 23, 2015

Loans Multifamily Seniors Housing Texas

Red Capital Secures $13.8M Loan for Seniors Housing Complex in Metro Dallas

by Haisten Willis June 22, 2015

FLOWER MOUND, TEXAS — Red Capital Partners has completed its second $13.8 million balance sheet construction loan to an affiliate of Avanti Senior Living for Avanti at Flower Mound, a 90-unit assisted living and memory care facility located in Flower Mound. The community will consist of 50 assisted living units and 40 memory care units. Avanti Senior Living has partnered with an affiliate of Iron Point Partners to develop a portfolio of Class A senior living communities throughout Texas and the southeastern United States. Avanti at Flower Mound is the third project to break ground. The community will feature many modern technological solutions aimed at improving care, lifestyles and accountability. The buildings will have special lighting designed to mimic sunlight, which helps residents with Alzheimer’s or dementia with their orientation. In addition, Avanti at Flower Mound will have electronic health records, radio frequency identification door locks, point-of-care devices for staff and extra monitoring for memory care residents. To better integrate healthcare with senior living, Avanti at Flower Mound will have a telehealth room, as well as its own medical exam room. The community will also feature an exercise room with a ballet bar, around which Avanti designed a program to …

June 22, 2015

Illinois Loans Midwest Retail

Cohen Financial Secures $12.5M in Refinancing for Hillcrest Shopping Center

by Katie Sloan June 22, 2015

JOLIET, ILL. — Cohen Financial has arranged $12.5 million in refinancing for Hillcrest Shopping Center, a 246,000-square-foot grocery-anchored retail center in Joliet. A 65,000-square-foot Food4Less anchors the center. Other tenants include Dollar Tree, Payless Shoes, Harbor Freight Tools, T-Mobile and Subway. Don C. Trossman of Cohen arranged the fixed-rate, 10-year loan on a 25-year amortization schedule with a correspondent life insurance company. Joliet-Hillcrest LLC was the borrower in the transaction.

June 22, 2015

Loans Michigan Midwest Multifamily

Bernard Financial Group Arranges $2.8M CMBS Loan for Carriage House Apartments

by Katie Sloan June 22, 2015

FLINT, MICH. — Bernard Financial Group has arranged a $2.8 million loan for Carriage House Apartments, a 120-unit multifamily complex located in Flint. Carriage House Limited Partnership was the borrower in the transaction. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan.

June 22, 2015

Florida Loans Retail Southeast

HFF Arranges $165M Loan for Palm Beach Outlets

by John Nelson June 22, 2015

WEST PALM BEACH, FLA. — HFF has arranged $165 million in financing for Palm Beach Outlets, a 459,633-square-foot, open-air outlet center located at 1751 Palm Beach Lakes Blvd. in West Palm Beach. The loan proceeds were used to acquire the property. Opened in February 2014, the outlet mall is 95.8 percent leased to 121 tenants, including Saks Off 5th Avenue, Gap, Nike Factory Store, J. Crew, Ann Taylor Factory Store and Under Armour. The mall share access with the 300,000-square-foot, Whole Foods-anchored Marketplace at the Outlets, which wasn’t included in the loan. Palm Beach Outlets is the first and only retail outlet center in Palm Beach County, with no other outlet centers within a 55-mile radius. Riaz Cassum, Chris Drew and Robyn King of HFF arranged the long-term, fixed-rate loan through Cornerstone Real Estate Advisers, which was acting on behalf of an institutional client. HFF arranged the loan on behalf of the borrowers, New England Development and a commingled fund managed by Clarion Partners. The loan collateral also includes land for the future development of 105,000 additional square feet of retail space.

June 22, 2015

Loans Office Southeast Tennessee

Grandbridge Arranges $18.5M Loan for Nashville Office Building

by John Nelson June 22, 2015

NASHVILLE, TENN. — Grandbridge Real Estate Capital has arranged an $18.5 million first mortgage loan on a five-story, 152,216-square-foot office building in Nashville. Chris Caison and C.J. Webb of Grandbridge’s Charlotte office arranged the fixed-rate loan through one of Grandbridge’s insurance correspondent lenders. The loan is a seven-month forward financing commitment, according to Grandbridge.

June 22, 2015

California Industrial Loans Western

Silicon Valley R&D Facility Receives $26.2M Loan

by Nellie Day June 19, 2015

SAN JOSE, CALIF. — A 181,800-square-foot, Class B research and development industrial property in the Silicon Valley submarket of Milpitas has received a $26.2 million loan. The loan will refinance the property and fund its renovation. The credit facility contains a $12.4 million short-term loan, along with future funding of $13.8 million for capital expenditures, tenant improvements, leasing commissions and other expenses. The borrower is Stephens & Stephens LLC, the industrial real estate investment arm of D.R. Stephens & Company. The loan was provided by Calmwater Capital, formerly known as Karlin Real Estate Lending.

June 19, 2015

Loans Retail Texas

Metropolitan Capital Advisors Arranges $6.25M Credit Facility for Fitness Chain

by Haisten Willis June 18, 2015

DALLAS — Metropolitan Capital Advisors (MCA) has arranged a senior secured credit facility for Austin-based Bandon Holdings LLC, the largest Anytime Fitness franchisee in Texas and the third largest in the United States. Bandon owns and operates 17 Anytime Fitness health and fitness clubs across Central and North Texas. The credit facility was made up of a term loan and development/acquisition line of credit secured by leasehold and business assets. The loan was used to retire existing debt. The line of credit will fund the development and acquisition of additional Anytime Fitness locations as well as planned renovations and equipment purchases/upgrades over the next three years. MCA secured the credit facility with BBVA Compass. Sunny Sajnani of MCA arranged the financing.

June 18, 2015

Loans Multifamily Texas

BMC Capital Provides $6.2M Loan for Multifamily Portfolio in Dallas

by Haisten Willis June 18, 2015

DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $6.2 million cash out refinancing for a portfolio of four apartment properties consisting of 116 units located in Dallas. The non-recourse loan featured a 10-year term with 4.6 percent interest, a 30-year amortization schedule and three years of interest-only payments. The loan was arranged through one of BMC Capital’s correspondent agency relationships.

June 18, 2015

Newer Posts

Older Posts