DALLAS, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $924,000 purchase loan for a 16-unit apartment property located in Dallas. The five-year loan includes a 3.9 percent interest rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent bank relationships.
HARTFORD, CONN. — Integra Real Estate Capital has advised a $65 million loan for the acquisition of Constitution Plaza in Hartford. The five-building complex offers 665,000 square feet of office space and 1,743 parking spaces. Meyer Perlman of Integra advised the borrower, a New York-based investment group, on the three-year non-recourse loan, which was provided by a national balance sheet lender.
LEANDER, TEXAS — Dougherty Mortgage LLC has secured a $7.7 million Fannie Mae loan for the refinancing of Merritt Legacy Apartments, a 208-unit multifamily affordable housing property located in Leander. The 15-year loan includes a 35-year amortization schedule and was arranged by Dougherty’s Dallas office. Amenities include Energy Star appliances, washer and dryer connections, large closets and private patios or balconies with extra storage. Property features include a pet-friendly environment with pet stations, a pet park, library, fitness center, covered parking, swimming pool, barbecue grills and picnic tables.
CONSHOHOCKEN, PA. — The Carlton Group has arranged a bridge loan of $18.5 million in senior debt to facilitate the development of a two-property multifamily complex located in Conshohocken. Plans for the 318- and 270-unit multifamily properties, located at 401 and 433 Washington St., are pending final approval. Stephen Scorgie, Brendan Sullivan, Michael Campbell and Andrew Karaan of The Carlton Group managed the transaction. The sponsor of a deal is a local developer.
JACKSONVILLE, FLA. — HFF has arranged $50 million in acquisition financing for Thornton Park, a 474-unit, Class A apartment community located at 8450 Gate Parkway W. in Jacksonville’s Southside submarket. The developer, Epoch Residential, is using the loan to purchase the apartment community outright. The acquisition marks Epoch Residential’s first purchase in its 45-year history. Completed in 2008, the apartment community features two resort-style swimming pools and spas, a picnic area with barbecue grills, playground, indoor basketball court, fitness center, clubhouse, library, billiards room, sports bar and detached garages. Elliott Throne and Brett Moss of HFF arranged the three-year, floating-rate loan through Colony Mortgage Capital.
SANTA CLARA, CALIF. — Parkview Financial has funded a $10.7 million construction loan for a mixed-use project located in Santa Clara. The new project will feature more than 6,500 square feet of retail space and 28 condominiums. The sponsor is an experienced developer, which began purchasing the development parcels for the project in 2012. Paul Rahimian of Parkview Financial arranged the financing.
BRYAN, TEXAS — Kurt Dennis and Ken Lawrence of LMI Capital has arranged $7 million in debt for the refinancing of a student housing complex in Bryan. The Class B property is located a few blocks from the Texas A&M campus. On behalf of the borrower, Dennis obtained a 10-year, fixed-rate nonrecourse loan that provided cash out proceeds to the client and features a three-year interest-only period.
CAMBRIDGE, MASS. — Hunt Mortgage Group has secured a $2.3 million Freddie Mac loan for the refinancing of a multifamily property located in Cambridge. The borrower is Agora Market Street LLC. Located 19-25 Market St., the 16-unit property comprises three-bedroom/one-bathroom units and is 100 percent occupied. Hayley Suminski of Hunt Mortgage negotiated the financing.
FALLS CHURCH, VA. — The Greysteel Co. has arranged joint venture equity financing for the acquisition of The Jefferson Apartments, a 310-unit mid-rise apartment community in Falls Church, 10 miles west of Washington, D.C. The buyer, Capital Investment Advisors LLC, purchased the apartment community from BVF-II Prestwick LLC, an affiliate of Berkshire Property Advisors. Matthew Schwartz and Mark Bittenbender of Greysteel arranged the joint venture equity financing on behalf of Capital Investment Advisors. The loan amount wasn’t disclosed, but sources estimate the amount to be roughly $10 million.
NORTHVILLE, MICH. — Bernard Financial Group has arranged a $2.2 million refinancing loan for the Haggerty Road Retail complex in Northville, a western suburb of Detroit. The property consists of 8,400 square feet of retail and restaurant space and is leased through 2019. The retail and restaurant tenants include Verizon, Qdoba Mexican Grill and Reitz Enterprises. Dave Dismondy of Bernard Financial originated the loan for the borrower, Haggerty Eight LLC. The lender is Genworth, which has a correspondent relationship with Bernard Financial.