CORAOPOLIS, PA. — NorthStar Real Estate Income II Inc. has originated a $42 million senior loan for a Marriott-branded hotel located in Coraopolis. The 318-room was recently renovated and the borrower plans to complete $4 million in capital improvements using the proceeds from the loan, for a total of $8.3 million in capital expenditures.
MIAMI — CBRE’s capital markets debt and structured finance team has arranged a $95 million acquisition loan for a portfolio of five single-tenant office properties totaling 1.6 million square feet in the Southeast. The properties, which are all leased by Wells Fargo, include 3579-3585 Atlanta Ave. in Atlanta; 401 Linden St. in Winston-Salem, N.C.; 809 W. 4½ St. and 801 W. 4 St. in Winston-Salem; 101 Greystone Blvd. in Columbia, S.C.; and 7711 Plantation Road in Roanoke, Va. Charles Foschini, Christian Lee and Christopher Apone of CBRE’s Miami office secured the financing on behalf of the borrower, a private family interest in Brazil. Guggenheim Partners provided the 10-year loan with a 30-year amortization schedule at 65 percent loan-to-value.
NEW YORK CITY — Houlihan-Parnes Realtors has secured $4.8 million in first mortgage refinancing for a 12,000-square-foot retail building located at 4174 White Plains Road in the Bronx. The five-year, non-recourse loan features a 3.75 percent fixed rate and a 30-year amortization schedule. Additionally, the loan is prepayable throughout the term on a declining scale and features a five-year extension option. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP provided legal counsel for the undisclosed borrower.
TYLER, TEXAS — Capital One Bank has provided a $15.5 million loan to finance the acquisition of Meadow Lake, a continuing care retirement community in Tyler. The borrower, a partnership between Evergreen Senior Living Properties LLC, its management affiliates ESLP Management LLC, and RSF Partners, acquired the property through a bankruptcy auction. Located on 95 acres, Meadow Lake opened in 2011 and includes 117 independent living units, 20 assisted living units, 34 memory care units and 30 skilled nursing beds. The facility also includes 20 fully improved lots for the addition of independent living cottages as well as undeveloped land that could accommodate an additional 88 cottages.
BOCA RATON, FLA. — Integra Real Estate Capital has arranged a $3 million refinance of City Plaza, an 11,000-square-foot retail property located in downtown Boca Raton. Igor Goldenberg of Integra arranged the seven-year loan through an unnamed regional balance sheet lender at a fixed interest rate. The recently renovated City Plaza’s tenant roster includes Tendler Orthodontics, Little Caesars Pizza, GK BloDryBar & Salon, The Seed Coffee | Juice and G+O2 Fitness.
IRVING, TEXAS — BMC Capital has arranged a $3.2 million purchase loan for a multi-tenant retail property located in Irving. The seven-year loan includes a 4.3 percent interest rate and a 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships. Brian Gramlich of BMC Capital’s Dallas office arranged the financing.
NEW YORK CITY — HFF has arranged $27 million in financing for The Hawthorne, a multifamily property in the Valley Stream submarket of Long Island in New York City. HFF secured the floating-rate loan for the borrower, Zeus Capital Managers, through Prime Finance. Located at 125 South Cottage St., the 90-unit residential community features 33 one- and 57 two-bedroom units averaging 1,115 square feet. Community amenities include a 15,000-square-foot courtyard with a fire pit and outdoor cooking and entertaining areas, a lounge with billiards, a fitness center and garage parking. Christopher Peck, Rob Hinckley, Andrew Scandalios and Christopher Rodriguez of HFF arranged the financing.
BRADENTON, FLA. — Walker & Dunlop Inc. has originated $9 million in financing for Ranch Lake Plaza, an 85,656-square-foot retail property in Bradenton. The center is anchored by Goodwill Industries Manasota Inc., which recently signed a 15-year lease and will open its store this month. Ranch Lake Plaza was 95 percent leased at the time of the transaction. Alison Williams of Walker & Dunlop’s Tampa office led the team that structured the 10-year loan with a 30-year amortization schedule through an unnamed CMBS lender. The loan also featured two years of interest-only payments.
COLUMBIA, S.C. AND HIGH POINT, N.C. — Capital One Multifamily Finance has closed a total of $39.5 million in agency loans for the acquisition of two apartment communities in the Carolinas. Chad Thomas Hagwood of Capital One originated both agency loans on behalf of the borrowers, affiliates of EBSCO Income Properties. The loans included a $20.5 million Freddie Mac loan for EBSCO’s acquisition of Polo Village, a 312-unit apartment community in Columbia, and a $19 million Fannie Mae loan for the acquisition of Highbrook Apartments, a 312-unit Class B apartment community in High Point. Watson Bryant of Multi Housing Advisors’ Charlotte office brokered the sale of both communities.
JOHNS CREEK, GA. — KeyBank Real Estate Capital has secured a $34.5 million acquisition loan for Retreat at Johns Creek, a 352-unit, garden-style apartment community in Johns Creek, a suburb of Atlanta. Formerly known as Camden River, the Class B property was built in 1997. Chris Black of KeyBank’s commercial mortgage group arranged the Fannie Mae loan on behalf of the undisclosed borrower.