CINCINNATI, OHIO — NorthMarq Capital has arranged $7.2 million in acquisition financing for Kemper Point in Cincinnati. Kemper Point is a 96,418-square-foot office building located at 7870 Kemper Road. An affiliate of Smith/Hallemann Partners was the borrower. The transaction was structured with a 10-year term and 25-year amortization schedule. Susan Branscome of NorthMarq arranged the financing. Tenants in the office building include Comey & Shepherd Relators, Hazen and Sawer P.C. and Kiwiplan Inc.
Loans
HONOLULU, HAWAII — Walker & Dunlop Inc. (NYSE: WD) has arranged a $39.7 million loan for Plaza at Pearl City, a 158-bed independent living, assisted living, memory care and respite stay community in Honolulu. MW Group owns the property, which overlooks Pearl Harbor. Keith Melton and David Strange, managing directors, and Russell Dey, vice president, led the Walker & Dunlop team. The mortgage was structured as a 40-year, non-recourse, fixed-rate, permanent HUD loan. Recently, Walker & Dunlop also closed a $37 million HUD loan earlier in the year with MW Group for Plaza at Monalua, a 122-unit assisted living facility also in Honolulu.
SANGER, TEXAS — Drever Capital Management has acquired Trails of Sanger, a 98 percent occupied, 208-unit apartment community in Sanger, from InterCapital Partners. Brian O’ Boyle Sr. and his son, Brian O’ Boyle Jr., with ARA Newmark, brokered the transaction for InterCapital. A prior relationship with lenders Pillar Finance and Fannie Mae also helped Drever Capital assume the existing Fannie Mae loan on Trails of Sanger, according to Darby Keele, asset manager for Cohen Financial LLC of Overland Park, Kan., Fannie Mae’s delegated underwriter on the debt.
ATLANTA — Cushman & Wakefield’s equity, debt and structured finance group in Atlanta has arranged a $90 million joint venture recapitalization of a five-property multifamily portfolio. The borrower, Peak Capital Partners, owns and operates the portfolio, which spans 1,249 units in Atlanta, Charlotte, Denver and Dallas. Mike Ryan, Telly Fathaly, John Alascio, Jeff Walker and Brian Linnihan of Cushman & Wakefield arranged the financing, which includes joint venture equity provided by an institutional investor and debt from GSE and conduit lenders.
AUSTIN, TEXAS — Berkadia has originated $17.5 million in acquisition financing for the Holiday Inn Austin Midtown. Stuart Wernick and Eli Gershenson of Berkadia’s Dallas office secured the five-year, fixed-rate financing with a senior and mezzanine structure on behalf of the borrower, a partnership between Alliance Development and Compass Lodging Advisors. Berkadia selected two lenders to help secure the necessary loan proceeds required by the borrower. Located at 6000 Middle Fiskville Road, Holiday Inn Austin Midtown rises nine stories and includes 189 rooms, as well as 15,000 square feet of meeting and conference room space. Hotel amenities include a pool, fitness center, business center and cocktail bar.
AUSTIN, TEXAS — KeyBank Real Estate Capital has secured a $16.6 million, non-recourse CMBS first mortgage for Residence Inn in Austin. The 112-room hotel is an extended-stay property. Ashley Harkness and Chuck Butterworth of Key’s commercial mortgage group secured the financing.
SAN MARCOS, CALIF. — NorthMarq Capital has arranged the $42 million refinancing of Nordahl Marketplace, a 304,801-square-foot retail property located in San Marcos. Ory Schwartz of NorthMarq arranged the fully amortizing, 25-year term loan for the borrower through a life insurance company. The center is home to 25 tenants including Walmart, Kohl’s, Guitar Center and Starbucks Coffee.
HONOLULU, HAWAII — Walker & Dunlop Inc. (NYSE: WD) has arranged a $39.7 million loan for Plaza at Pearl City, a 158-bed independent living, assisted living, memory care and respite stay community in Honolulu. MW Group owns the property, which overlooks Pearl Harbor. Keith Melton and David Strange, managing directors, and Russell Dey, vice president, led the Walker & Dunlop team. The mortgage was structured as a 40-year, non-recourse, fixed-rate, permanent HUD loan. Walker & Dunlop also closed a $37 million HUD loan earlier in the year with MW Group for Plaza at Monalua, a 122-unit assisted living facility also in Honolulu.
AUBURN, CALIF. — Envoy Net Lease Partners LLC has financed a first mortgage bridge loan for a 5,500-square-foot, single-tenant net lease Denny’s restaurant in Auburn, approximately 30 miles northeast of Sacramento. The property, which is currently vacant, is located on an outparcel in front of the highest-grossing grocery store in Auburn, and is one of the last remaining outparcels in the market.
ROCKVILLE, MD. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has arranged the $19 million refinancing of Brightview Fallsgrove, a seniors housing property located at 9200 Darnestown Road in Rockville. The property features 70 assisted living units and the 24-unit Wellspring Village, which houses residents needing dementia care. Richard Thomas and Meredith Davis of Grandbridge arranged the loan through an agency lender of behalf of the owner.