HOUSTON — Holly Minter, David Schwarz and Tip Strickland of ARA Newmark have closed a seven-year CMBS loan with a fixed interest rate and full-term interest-only payments on behalf of Momentum Real Estate Partners for the acquisition of Provenza at Barker Cypress Apartments in Houston. The Class A, 318-unit multifamily community was built in 2014 and offers one-, two- and three-bedroom apartment units.
HAWTHORNE, CALIF. — HFF has arranged $57 million in senior financing for Century Business Center, a 1.4-million-square-foot industrial manufacturing facility in Hawthorne. The center is located at 3901 Jack Northrop Ave. The seven-building campus is fully leased to Triumph Aviation Group and SpaceX. Triumph produces fuselages for Boeing’s 747 passenger and freighter commercial jets, while SpaceX is the largest private space transport company in the world. HFF’s Paul Brindley, Anthony Brent and Ryan Martin arranged the 10-year, fixed-rate loan on behalf of Zelman Development Co. It was placed with AIG Investments. The proceeds were used to recapitalize the property.
PORTLAND, ORE. — Holliday Fenoglio Fowler (HFF) has arranged $23 million in financing for Timberland Town Center, a 91,901-square-foot retail center anchored by boutique grocer Market of Choice, in Portland. Casey Davidson of HFF worked on behalf of the borrower, Timberland Town Center LLC, to secure the 10-year, fixed-rate loan with AXA Equitable Life Insurance Co. through its advisor Quadrant Real Estate Advisors. Loan proceeds were used to take out the construction loan, as the property just reached stabilization. Other tenants include Pharmaca, Clutch Sausagery, H&R Block, La Belle Nail, Mud Bay, Zucari Home and Garden, Gentle Dental, Urban Wax, Star Cycle and Barre3 Fitness.
CHICAGO — Monroe Capital LLC has arranged the financing of a $57.5 million senior credit facility to support Battery Ventures’ acquisition of Physical Security Business Unit (PSBU). Battery Ventures is a global technology investment firm. PSBU was previously part of the security division of NICE Systems and is now being renamed Qognify. Qognify helps organizations capture, analyze, and leverage big data to anticipate, manage, and mitigate security and safety risks, maintain business continuity, and streamline operations. Monroe Capital LLC is a provider of senior and junior debt and equity co-investments to middle-market companies.
WEST ROXBURY, MASS. — CBRE/New England’s Multifamily Debt & Structured Finance group has arranged $7.5 million in acquisition financing for a multifamily property located at 218 and 250 Spring St. in West Roxbury. An affiliate of Yee Enterprises acquired the two-building, 55-unit property for $9.4 million. Constructed in 1968, the property is 100 percent market-rate apartments with a mix of studio, one-bedroom and two-bedroom units. John Kelly and Sam Dylag of CBRE/NE secured the financing through a local bank on behalf of the buyer. The name of the seller was not released.
GREENVILLE, N.C. — KeyBank Real Estate Capital has arranged a $14.3 million CMBS loan for The Hilton Greenville, a 141-room hotel located at 207 Greenville Blvd. S.W. in Greenville. The hotel is situated on the 32-acre Greenville Convention Center campus and is within two miles of East Carolina University. Scott Bois of KeyBank’s commercial mortgage group arranged the non-recourse loan on behalf of the undisclosed borrower.
VIRGINIA BEACH, VA. — Greystone has provided a $6.5 million Fannie Mae DUS loan for the acquisition of Tivoli Apartments, a 140-unit apartment complex in Virginia Beach. The property comprises 12 two-story buildings with a clubhouse, swimming pool, picnic areas, laundry building and storage. Andrew Ellis of Greystone originated the 15-year, fixed-rate loan with a 30-year amortization schedule and one year of interest-only payments. The acquisition loan is the fifth loan that Greystone has provided to the undisclosed borrower.
KING, N.C. — NorthMarq Capital has arranged a $3.7 million acquisition loan for Colony Center, an 84,069-square-foot retail property located at 705-745 S. Main St. in King. Colony Center’s tenant roster includes Food Lion, Family Dollar and Badcock Furniture. David Vinson of NorthMarq’s Raleigh office arranged the loan through an unnamed life insurance company on behalf of the borrower.
SAN DIEGO — Holliday Fenoglio Fowler (HFF) has arranged a $7.25 million refinancing for the majority of the Schiefer & Sons Building in downtown San Diego. Bank of America provided the 10-year, fixed-rate loan. The loan proceeds will be used to refinance existing debt. The property features 15,221 square feet of office and retail space. Located at 815 J St., the building is divided into six office units and two ground-level retail spaces. Kevin MacKenzie and Greg Brown of HFF secured the financing for the borrower, Capital Real Estate Ventures Inc.
BROKEN ARROW, OKLA. — RED Capital Partners, the proprietary debt and equity banking arm of RED Capital Group, has closed a $17.2 million balance sheet construction loan for Prevarian Senior Living to build Prairie House Assisted Living and Memory Care, located on the campus of St. John Medical Center Hospital in Broken Arrow. Prairie House will be a 93,000-square-foot, two-story seniors housing community and will accommodate more than 100 senior citizens. The facility will include 73 alcove, one- and two-bedroom floor plans for assisted living. There will also be 32 suites designed for memory care residents. Construction began Sept. 9 and the project is expected to open in November 2016. The 105-unit, 117-bed assisted living and memory care property will operate under a long-term ground lease from an affiliate of St. John Medical Center Hospital. LifeCare Services, based in Des Moines, Iowa, will operate the property.