Loans

Churchill Arranges $12.7M Acquisition Loan for Office Building in Houston

by Haisten Willis June 24, 2015

HOUSTON — Churchill Capital has arranged a $12.7 million loan for the acquisition of 770 S. Post Oak, a six-story, 92,723-square-foot, Class B office building located in the “magic circle” business district and Memorial Park area of Houston. The property is two miles from the Galleria and 10 miles from downtown Houston. Tenants include Love Advertising, HF Christmann & Associates, Prolamsa, Berie Lamberth Mgmt, Sechrist Duckers LLP, Ensyte Energy Software and Zimmerman & Lavine. Duke Stone and Steve Forson of Churchill Capital arranged the 10-year, fixed rate, non-recourse financing through J.P. Morgan Chase Bank NA on behalf of the borrower, Pillar Income.

June 24, 2015

Colorado Loans Retail Western

HFF Arranges $89.5M Construction Loan for A Block @ Union Station

by Nellie Day June 24, 2015

DENVER — Holliday Fenoglio Fowler L.P. (HFF) has arranged an $89.5 million construction loan for A Block @ Union Station, a 310,055-square-foot, mixed-use development in Denver’s Union Station Neighborhood. Continuum Partners LLC worked with HFF to arrange the four-year construction loan with Wells Fargo and CrossHarbor Capital Partners. Continuum also raised $14.5 million in equity from more than 20 investors in addition to contributing land to the project, which will contain hotel, office and retail space. New construction will include a 12-story, 200-room hotel managed by Kimpton; a five-story, 45,458-square-foot office building along with approximately 13,000 square feet of retail/restaurant space; and a 197-space subterranean parking garage with 100 spaces dedicated to public parking. Both properties will contain ground floor retail, with Bank of America already under lease for 3,496 square feet of space. Eric Tupler and Leon McBroom of HFF led the debt placement team in the transaction.

June 24, 2015

Loans South Carolina Southeast Student Housing

MB Financial Bank Provides $40.3M Construction Loan for Student Housing in Columbia

by John Nelson June 24, 2015

COLUMBIA, S.C. — Chicago-based MB Financial Bank has provided a $40.3 million construction loan for the development of a 218-unit student housing development near the University of South Carolina in Columbia. The 660-bed property will be located at the corner of Gervais and Harden streets in Columbia’s Five Points district. MB Financial Bank provided the loan to Chicago-based Blue Vista Capital Management. The unnamed developer plans to deliver the asset in time for the fall 2016 semester.

June 24, 2015

Loans Multifamily South Carolina Southeast

New York Life Originates $24.5M Acquisition Loan for Apartment Community in North Charleston

by John Nelson June 24, 2015

NORTH CHARLESTON, S.C. — New York Life Real Estate Investors has originated a $24.5 million acquisition loan for Ansley Commons, a 270-unit, Class A multifamily community in North Charleston. New York Life provided the loan to the buyer, The Praedium Group. Brian Eisendrath and Steve Heffner of CBRE arranged the loan on behalf of The Praedium Group.

June 24, 2015

Georgia Loans Multifamily Southeast

Berkadia Brokers $14.7M Sale of Apartment Community, Arranges $11.8M Financing

by John Nelson June 24, 2015

RICHMOND HILL, GA. — Berkadia has brokered the sale of and arranged financing for Ashton of Richmond Hill, a 232-unit affordable housing property located at 505 Harris Trail in Richmond Hill, a suburb of Savannah, Ga. The community’s amenities include a clubhouse, tennis court, volleyball court, picnic area, playground, swimming pool, community laundry room and 24-hour emergency maintenance. Savannah-based Kole Management Co. purchased the property from Ashton Partners GA LLC for $14.7 million. Andrew Mays, Paul Vetter, Mark Boyce and Cole Whitaker of Berkadia brokered the transaction. Berkadia also arranged acquisition financing for the transaction. Lloyd Griffin, Frank Brown and Brett Bennett of Berkadia arranged the $11.8 million Freddie Mac loan with a fixed interest rate of 4.16 percent and a 30-year amortization schedule.

June 24, 2015

Industrial Kentucky Loans Southeast

NorthMarq Capital Arranges $10.3M Loan for Industrial Property in Kentucky

by John Nelson June 24, 2015

ERLANGER, KY. — NorthMarq Capital has arranged a $10.3 million loan for the refinancing of Donaldson Road Center II, a 258,947-square-foot industrial property located at 1325 and 1335 Donaldson Road in Erlanger. Alstom Power is the anchor tenant at the facility. Susan Branscome of NorthMarq’s Cincinnati office arranged the 10-year loan with a 20-year amortization schedule through an unnamed life insurance company.

June 24, 2015

Illinois Loans Midwest Multifamily

NorthMarq Capital Completes $10M Refinance for Multifamily Property in Illinois

by Amy Works June 24, 2015

SCHAUMBURG, ILL. — NorthMarq Capital has arranged $10 million in refinancing for Beech Pointe Apartments, a multifamily property located in Schaumburg. The property features 192 residential units. Sue Blumberg of NorthMarq Capital secured the 10-year loan, which features a 30-year amortization schedule, through NorthMarq’s seller-servicer relationship with Freddie Mac.

June 24, 2015

Loans Office Texas

NCB Provides $4.8M Construction Loan for Church Property in Metro San Antonio

by Haisten Willis June 23, 2015

BOERNE, TEXAS — National Cooperative Bank (NCB) has provided a $4.8 million construction loan to the Congregation of Benedictine Sisters of Boerne, located 30 miles northwest of San Antonio. The financing will be used for the construction of a new monastery and administrative offices. In February 2012, the congregation informally subdivided its 42-acre property and listed 14 acres for sale. The new monastery facilities will be built closer to the existing Boerne ministries and will provide prayer, meeting and work spaces, as well as community and private living spaces. The Benedictine Sisters are monastic women committed to community and a life of work and prayer. The Congregation of Benedictine Sisters is a 501(c) (3) nonprofit corporation.

June 23, 2015

Loans New York Northeast Retail

EagleBridge Capital Arranges $7.5M Loan for Four-Building Portfolio

by Amy Works June 23, 2015

NORWOOD, MASS. — EagleBridge Capital has arranged $7.5 million in permanent mortgage financing for four buildings located on Vanderbilt Avenue in Norwood. Ted Sidel and Brian Sheehan of EagleBridge arranged the loan, which was provided by a leading financing institution. Totaling 149,550 square feet, the four properties include 36-76, 45, 190-196 and 375 Vanderbilt Ave., including the Vanderbilt Club and three flex buildings. Tenants at the properties include Office Gallery International, Subway, Orange Leaf Frozen Yogurt, Comcast, International Auto Parts, Exide Technologies, Home Theater Concepts and the Neponsit Valley Chamber of Commerce.

June 23, 2015

Loans Michigan Midwest Multifamily Seniors Housing

Love Funding Secures $9.1M in Refinancing for Westhaven Manor

by Amy Works June 23, 2015

WESTLAND, MICH. — Love Funding has secured $9.1 million in refinancing for Westhaven Manor, a 144-unit, age-restricted apartment community in Westland, a western suburb of Detroit. Love Funding secured the loan through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Proceeds from the loan will be used to upgrade the property with improvements and fund a replacement reserve. Built in 1986, the property is restricted to residents 62 years of age or older. Bruce Gerhart of Love Funding arranged the financing for the undisclosed borrower.

June 23, 2015

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