CONCORD, CALIF. — DTZ Mortgage Services has closed an $8.7 million leasehold acquisition loan for the Four Corners Shopping Center in Concord. Located at Monument Boulevard and Oak Grove Road, the property consists of 35,921 square feet of retail space. Kurt Scheidt and Terry Daly of DTZ Mortgage Services arranged the non-recourse, fixed-rate loan for the borrower, Farm Sub LCC.
NAPA, CALIF. — A joint venture between Madison Marquette and Carlin Co. has arranged the recapitalization of Oxbow Publix Market, a 30,000-square-foot shopping center located in Napa. The center is 98 percent occupied by tenants including Hog Island Oyster Co., Gott’s Roadside, Five Dot Ranch, C Casa, The Fatted Calf, Kitchen Door, The Model Bakery, Ritual Coffee Roasters and Oxbow Cheese and Wine.
TEANECK, N.J. — HFF has closed the sale of, and secured financing for, Heritage Pointe of Teaneck, a 142-unit independent living facility located at 600 Frank W. Burr Blvd. in Teaneck. The firm marketed the property on behalf of the seller, Lowe Enterprises Investors, to an undisclosed buyer. Additionally, HFF secured a $33.2 million floating-rate loan on behalf of the buyer through Investors Bank and TIAA Direct, a division of TIAA-CREF Trust Co. FSB. Completed in 2004, the four-story property features 45 one-bedroom, 94 two-bedroom and three three-bedroom units, averaging 1,045 square feet. On-site amenities include a restaurant-style dining room, exercise room, wellness room, arts and crafts room, card room, resident lounge with fireplace, business center, recreation room, hair and nail salon, and tennis courts. The property was 97.2 percent occupied at the time of sale. Ryan Maconachy, Chad Lavendar, Jose Cruz, Kevin O’Hearn and Michael Oliver of HFF brokered the transaction, while Steven Klein, also of HFF, arranged the financing.
COLLEGE STATION, TEXAS — VistaPointe Partners has secured a $29.6 million construction loan for a student housing development in College Station. VistaPointe Partners secured the financing on behalf of the project’s developer, Holleman-College Station LP. Located at the southwest corner of Harvey Mitchell South/State Highway 2818 and Holleman Drive, the 432-unit development is 1.9 miles from the Texas A&M University campus and will include 792 beds. Construction has commenced and the project is slated to open in August 2016.
SANFORD, FLA. — New York Life Real Estate Investors has originated a $41.3 million acquisition loan for Elan Towne Center Apartments, a 360-unit, Class A multifamily community in metro Orlando. The property is located at 12500 Solstice Loop in Sanford. The apartment community’s amenity package includes a swimming pool, sundeck with outdoor TVs and a fire pit, a tanning salon, walking trails, dog park, detached garages, cyber café and coffee bar, fitness center, movie theater, business center and an outdoor kitchen. Paul Ahmed of Walker & Dunlop’s Fort Lauderdale office arranged the 15-year loan with five years of interest-only payments.
NAPA, CALIF. — A joint venture between Madison Marquette and Carlin Co. has arranged the recapitalization of Oxbow Publix Market, a 30,000-square-foot shopping center located in Napa. The center is 98 percent occupied by tenants including Hog Island Oyster Co., Gott’s Roadside, Five Dot Ranch, C Casa, The Fatted Calf, Kitchen Door, The Model Bakery, Ritual Coffee Roasters and Oxbow Cheese and Wine.
WESTMINSTER, CALIF. — NorthMarq Capital has secured $4.5 million in refinancing for Palm Court Plaza, a 29,000-square-foot retail property located in Westminster. The transaction was structured with a 20-year term and 25-year amortization schedule. Joe Giordani of NorthMarq arranged financing for the borrower through a life insurance company.
DENVER — Holliday Fenoglio Fowler (HFF) has arranged joint venture equity and financing for a recapitalization of Denver Pavilions, a 351,347-square-foot, open-air regional shopping mall located in downtown Denver. Mary Sullivan, John Jugl and Eric Tupler of HFF worked on behalf of the owner, Gart Properties, to arrange a joint venture equity partnership with MetLife Real Estate Investors, and to place a 10-year, fixed-rate loan for the partnership with Cornerstone Real Estate Advisers. The 95 percent leased center was renovated in 2010, and is home to tenants including H&M, United Artists theater, Lucky Strike Lanes, Hard Rock Café, Coyote Ugly Saloon, Barnes and Noble, Forever 21, Banana Republic and BareMinerals.
PHILADELPHIA — Colliers International’s Philadelphia Capital Markets Group has secured a $10.8 million construction loan for Green Street Townhomes, a for-sale townhome development in Philadelphia. The loan features an 80 percent loan-to-cost ratio, a 4.5 percent floating rate, 24 months of interest-only payments and a 12-month extension option. Kris Wood, John Banas and Alex Hails of Colliers arranged the financing for the undisclosed borrower.
HOUSTON — Ziegler, a specialty investment bank, has arranged $109.4 million in fixed-rate bonds for The Buckingham, a 323-unit seniors housing complex. Nonprofit operator Senior Quality Lifestyles Corp. (SQLC) manages The Buckingham, which is located on a 23-acre plot in the Memorial/Tanglewood neighborhoods of Houston. The community includes 204 independent living apartments, 43 assisted living units, 16 memory support units and a health center with 60 nursing beds. The bonds will be used to expand The Buckingham to include a new tower featuring 106 additional independent living units, 27 additional assisted living units, 18 additional memory care units, 32 additional skilled nursing beds, an underground parking garage with 111 total spaces and an additional 292 surface level spaces. SQLC operates five communities in Texas totaling 1,586 units.
