Loans

HFF Secures $11.3M Construction Loan for Hotel in South Florida

by John Nelson June 9, 2015

BOYNTON BEACH, FLA. — HFF has secured an $11.3 million construction loan for the development of a 116-room TownePlace Suites hotel in Boynton Beach, a coastal town in South Florida. The property will be built on a 2.8-acre site on Gateway Boulevard east of Congress Avenue and north of the Boynton Beach Mall. The hotel will have studio, one- and two-bedroom suites with full kitchens, a market for snacks and meals, swimming pool, fitness center and a putting green. Mike Kavanau, Elliott Throne and Alexandra Lalos of HFF arranged the loan through City National Bank of Florida on behalf of the borrower, North Boynton Beach Hospitality LLLP.

June 9, 2015

Loans Retail Texas

NorthMarq Arranges $6M Acquisition Financing for Shopping Center in San Antonio

by Haisten Willis June 9, 2015

SAN ANTONIO — Bryan Leonard of NorthMarq Capital’s San Antonio office has arranged a $6 million acquisition loan for Fairview Shopping Center, a 28,662-square-foot retail property located at 24200 Interstate 10 W. in San Antonio. The loan was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide. The property’s tenant roster includes Fiddlin’ Frogs, Willie’s Grill and Phyllis Browning Co.

June 9, 2015

Iowa Loans Midwest Multifamily Seniors Housing

NorthMarq Capital Secures $7.1M Refinancing for Legacy Pointe in Iowa City

by Amy Works June 9, 2015

IOWA CITY, IOWA — NorthMarq Capital has finalized $7.1 million in refinancing for Legacy Pointe, an assisted living facility in Iowa City. Jason Kinnison of NorthMarq Capital’s Omaha regional office arranged the 35-year, fully amortizing loan through its FHA/HUD platform for the undisclosed borrower.

June 9, 2015

Loans Multifamily Northeast Pennsylvania

KeyBank Secures $37.5M in Loans for Two Pennsylvania Townhome Communities

by Amy Works June 9, 2015

PERKASIE AND SELLERSVILLE, PA. — KeyBank Real Estate Capital has secured a total of $37.5 million in Freddie Mac financing for two townhome communities in Pennsylvania. The two properties are the 233-unit Heritage Orchard Hill in Perkasie and the 108-unit Heritage Greene in Sellersville. The properties currently have a joint leasing office located at Heritage Orchard Hill. Chris Black and Caleb Marten of KeyBank’s commercial mortgage group a closed 10-year, non-recourse fixed-rate first mortgage for both properties. The loans were closed simultaneously.

June 9, 2015

Loans Michigan Midwest Multifamily

Bernard Financial Group Arranges $4.3M Loan for Michigan Multifamily Property

by Amy Works June 8, 2015

DEWITT, MICH. — Bernard Financial Group has arranged a $4.3 million in refinancing for Alana Woods Apartments, a 92-unit multifamily property located in DeWitt, near Lansing. Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Alana Woods Apartments LLC. Bernard Financial Group will be fully servicing the loan.

June 8, 2015

Starr’s Mill Academy Preschool and Childcare Senoia

Georgia Loans Southeast

Walker & Dunlop Closes $2.6M Loan for Preschool in Metro Atlanta

by John Nelson June 8, 2015

SENOIA, GA. — Walker & Dunlop Inc. has originated a $2.6 million loan for Starr’s Mill Academy Preschool and Childcare in Senoia, roughly 35 miles south of Atlanta. Warren Factor led Walker & Dunlop’s team to originate the refinancing through Wells Fargo’s U.S. Small Business Administration 7A loan program. The 25-year loan was structured at 85 percent loan-to-value and features a fixed 5.05 percent interest rate.

June 8, 2015

California Loans Western

Ziegler Arranges $52M Financing for American Baptist Homes of the West

by Nellie Day June 8, 2015

PLEASANTON, CALIF. — Ziegler, a specialty investment bank, has arranged $52 million in financing for American Baptist Homes of the West (ABHOW). Founded in 1949 as Pilgrim Haven Home Corp., ABHOW owns and operates seven continuing care retirement communities (CCRCs) in California. The company also manages four affiliated CCRCs. Proceeds of the bonds will be used to refund 2006 bonds, reimburse the company for $11 million in prior capital expenditures, and fund $9 million in new projects.

June 8, 2015

Illinois Loans Midwest Multifamily

Community Investment Corp. Raises $200M to Finance Chicago Affordable Rental Housing

by Amy Works June 5, 2015

CHICAGO — Community Investment Corp. (CIC), a Chicago-based community development financial institution (CDFI), has raised a $200 million loan pool to finance the acquisition and rehabilitation of affordable rental housing in the Chicago area over the next five years. The funding will preserve at least 7,500 affordable units, preventing their loss due to demolition or decay, as well as providing quality rental housing for approximately 18,000 people. The new fund consists of investments by 37 Chicago-area banks to support CIC’s Multifamily Loan Program. The program, which is the foundation of CIC’s affordable rental housing initiatives, primarily targets privately owned rental housing. To date, the program has provided more than $1.2 billion in financing for the acquisition, rehab and preservation of more than 55,000 units of affordable housing for more than 130,000 Chicago-area residents.

June 5, 2015

Loans Multifamily Texas

BMC Capital Provides $3.5M Acquisition Loan for Apartment Complex in Dallas

by Haisten Willis June 5, 2015

DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $3.5 million acquisition loan for a 67-unit apartment complex located in Dallas. The loan featured a five-year term with a fixed 3.8 percent interest rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent agency relationships.

June 5, 2015

Florida Loans Mixed-Use Southeast

George Smith Partners Secures $125M Loan for Phase I of Celebration Pointe

by John Nelson June 5, 2015

GAINESVILLE, FLA. — Los Angeles-based George Smith Partners has closed a $125 million construction loan for the development of Celebration Pointe, a large-scale mixed-use development underway in Gainesville. George Smith Partners secured the financing on behalf of the project’s developers, comprising Gainesville-based SHD Development, Atlanta-based Ra Co Real Estate Advisors and Miami-based 1220G. Located at the intersection of I-75 and Archer Road and anchored by Bass Pro Shops, the $200 million, 1 million-square-foot Celebration Pointe will feature a mix of approximately 400,000 square feet of entertainment, outlet retail and restaurants uses, as well as a new 137-room Hotel Indigo. Phase I of Celebration Pointe is slated to open in fall 2016.

June 5, 2015

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