Loans

HFF Secures Financing for Apartment Complex in Austin

by Haisten Willis April 29, 2015

AUSTIN, TEXAS — HFF has arranged financing for Vineyard Hills Apartments, a 202-unit apartment community in Austin. HFF worked on behalf of the borrower to secure the 10-year, 3.58 percent fixed-rate loan through a life insurance company lender. Proceeds were used to refinance existing debt on the property. The loan was structured as a forward loan with the rate locked five months prior to closing. Vineyard Hills Apartments is located at 7631 U.S. Highway 290 W. near State Highway 71 in the Oak Hill area of southwest Austin. Completed in 2000, the property features one-, two- and three-bedroom floor plans ranging between 640 and 1,315 square feet. Amenities include a swimming pool, heated spa, clubroom and business center. The property is 96 percent leased. Robert Wooten led the HFF debt placement team representing the borrower.

April 29, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

HFF Arranges $360M in Financing for Development of Midtown Manhattan Condo Tower

by Amy Works April 29, 2015

NEW YORK CITY — HFF has arranged $360 million in financing for the development of 100 East 53rd Street, a luxury condominium project in Manhattan’s Midtown East neighborhood. The construction loan was arranged for a joint venture between RFR Holdings LLC and Vanke Holdings LLC/China (HK) Asset Management Co. Ltd. through the Industrial and Commercial Bank of China. The 61-story tower will feature 94 for-sale residences, as well as ground- and second-floor retail and restaurant space. Slated for completion in 2017, the Foster + Partners-designed property will offer studio, one-, two-, three- and four-bedroom floor plans, a swimming pool, sauna, steam room, fitness center, yoga room, Pilates studio, massage/spa treatment rooms, lounge, media room and concierge services. Hines is serving as co-developer of the project along with RFR Holding LLC. Compass and Classic Marketing are handling sales and marketing for the project. Mike Tepedino, Michael Gigliotti and Jennifer Keller of HFF represented the borrower in the financing.

April 29, 2015

Loans Northeast Pennsylvania Retail

Aztec Group Secures $23.3M in Financing for Two Pennsylvania Retail Centers

by Amy Works April 29, 2015

BARTONSVILLE, PA. — Aztec Group Inc. has secured a total of $23.3 million in financing for two retail centers in Bartonsville. The firm secured $13.2 million in financing for Bartonsville Square and $10.1 million for Bartonsville Plaza. Basis Investment Group provided a 10-year loan, featuring a 75 percent loan-to-value ratio and a 30-year amortization schedule, for Bartonsville Square. Bartonsville Square is an 80,000-square-foot retail center anchored by a 50,000-square-foot Dick’s Sporting Goods. The property was developed by an affiliate of Legend Properties and is currently 95 percent leased and occupied. Also developed by an affiliate of Legend Properties, the 49,000-square-foot Bartonsville Plaza is 94 percent leased and occupied. Current tenants include Sleepy’s Mattress, Verizon Wireless, GameStop, Moe’s Southwest Grill, Great Clips, Sonic and Advanced Auto Parts. Ladder Capital provided a 10-year loan, which features a 70 percent loan-to-value ratio and a 25-year amortization schedule, for Bartonsville Plaza. Howard Taft and Charles Penan of Aztec Group Inc. arranged the financing for the undisclosed borrower.

April 29, 2015

Loans Multifamily New York Northeast

Mortgage Equicap Arranges $8.5M Bridge Loan for Condo Conversion in Tribeca

by Amy Works April 29, 2015

NEW YORK CITY — Mortgage Equicap LLC has arranged an $8.5 million bridge loan for mixed-use condominium conversion in New York City’s Tribeca neighborhood. The building will feature four loft residential condos and a ground-floor retail condo. Equicap was able to arrange the bridge loan to replace the in-place construction loan on the property. Daniel Hilpert of Mortgage Equicap negotiated the financing.

April 29, 2015

Illinois Loans Midwest

Cohen Arranges $9.2M in Acquisition Financing for Two Multifamily Properties

by Danielle Everson April 28, 2015

ZION, ILL. — Cohen Financial has arranged $9.2 million in acquisition loans through Pillar’s lending program for two multifamily properties in Zion. Dan Rosenberg of Cohen Financial’s Chicago office secured a $5.3 million loan for Country Chalet Apartments and a $3.85 million loan for Park Trails Apartments. The two properties purchased included a total of 247 units. The fixed-rate, 15-year loans include 30-year amortization schedules. The borrower is an affiliated entity of The Ferndale Realty Group LLC, a Chicago-based real estate investment company.

April 28, 2015

Loans Multifamily Texas

BMC Capital Provides $2M Loan for Apartment Complex in Longview

by Haisten Willis April 28, 2015

LONGVIEW, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $2 million purchase loan for a 100-unit apartment complex located in Longview. The seven-year loan includes a 4.35 percent interest rate and a 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent bank relationships.

April 28, 2015

Loans Northeast Office Pennsylvania

HFF Arranges $22.1M Bridge Loan for Suburban Philadelphia Office Complex

by Amy Works April 28, 2015

FORT WASHINGTON, PA. — HFF has arranged a $22.1 million bridge loan with $14.3 million of future funding for Fort Washington Executive Center, a three-building office complex located at 600, 601 and 602 Office Center Dr. in Fort Washington. HFF secured the three-year, floating-rate loan through Citizens Bank for the borrower, a joint venture between Kairos Real Estate Partners and Artemis Real Estate Partners. The loan, which features two one-year extension options, will be used to recapitalize the property, as well as fund future capital improvements and leasing costs. The complex offers 393,067 square feet of Class A office space. Current tenants include Nutrisystem, AstraZeneca, McNeil, AmeriHealth and Allstate. The borrower plans to renovate the property, including upgrades to the common areas, restrooms, amenities, conference and training facilities, and landscaping. Ryan Ade, James Conley and Mike Pagniucci of HFF represented the borrower in the financing.

April 28, 2015

Loans Multifamily Texas

BMC Capital Provides $612,500 Loan for Apartment Complex in Metro Dallas

by Haisten Willis April 27, 2015

ARLINGTON, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $612,500 purchase loan for a 20-unit apartment complex located in Arlington. The loan features a five-year term with a 4.3 percent interest rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent bank relationships.

April 27, 2015

Loans Mixed-Use New York Northeast

Madison Realty Capital Provides $34M Loan for Manhattan Mixed-Use Building

by Amy Works April 27, 2015

NEW YORK CITY — Madison Realty Capital has provided $34 million in financing for the acquisition and renovation of a mixed-use residential and retail building in Manhattan’s Chelsea neighborhood. The loan provides $29 million in immediate acquisition funding and $5 million for planned renovations. Located at 125 West 16th St., the 39,504-square-foot building features 40 residential units and two ground-floor retail units. The name of the borrower was not released.

April 27, 2015

Loans Midwest Retail Wisconsin

Cohen Financial Arranges $6.3M Loan for Retail Property in Wisconsin

by Danielle Everson April 27, 2015

MERRILL, WIS. — Cohen Financial has arranged a $6.3 million refinancing loan for Merrill Ridge Plaza, a mixed-use retail and office center located at 3404-3500 East Main Street in Merrill. Merrill Ridge Plaza is a 122,919-square-foot property that’s 97 percent leased. Anchor tenants include Piggly Wiggly, Dollar Tree and Church Mutual Insurance Co. Don Trossman of Cohen Financial’s Chicago office secured the fixed-rate loan that includes a 20-year amortization schedule with River Valley Bank, a regional bank. Martin Graff of M.H. Graff & Associates represented the borrower, Focused Retail-Merrill Ridge LLC.

April 27, 2015

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