WAKE FOREST, N.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $11.8 million acquisition loan for The Factory, a 187,695-square-foot retail and sports complex in Wake Forest. One of the largest sports complexes in the country, the public access complex covers more than 35 acres with two full-sized NHL rinks and more than 17 acres of baseball fields. The Factory was 99.8 percent leased at the time of sale to sports centers such as the YMCA of the Triangle, North Wake Baseball Association and Polar Ice House, and retail options like the Village Deli and Grill and Gonza Tacos y Tequila. The complex, built in 1964 and renovated in 2004, consists of five buildings. Jared Cassidy of MMCC’s Washington, D.C., office arranged the loan through a national balance sheet lender. Matt Greenspon of Marcus & Millichap’s Raleigh office consulted on the buy side. The undisclosed buyer purchased the asset for $17.9 million.
LOWELL, MASS. — Fantini & Gorga has arranged $2.7 million in permanent financing for Embassy House Apartments in Lowell. The three-building property features 36 one- and two-bedroom market-rate apartments. Originally built in the early 1960s, the property underwent an extensive exterior/interior and building systems upgrade in 2003. Derek Coulombe, Tim O’Donnell and Jason Cunnane of Fantini & Gorga arranged the financing for the undisclosed borrower.
GREAT NECK, N.Y. — Houlihan-Parnes Realtors has arranged a $1.5 million first mortgage loan for an apartment building located at 15 Beach Road in Great Neck. Built in 1950, the three-story building includes 54 apartments, on-site outdoor parking spots, 27 garages, gardens and a courtyard. The seven-year loan, which was placed with a savings bank, features a fixed interest rate of 3.5 percent and a 30-year amortization schedule. Jeremiah Houlihan of Houlihan-Parnes secured the financing for the undisclosed borrower.
HAMMOND, LA. — CBRE has secured a $53 million, 10-year loan for Hammond Square located in Hammond. Jonathan Rice, C.J. Kelly and Porter McDonald of CBRE arranged financing through Morgan Stanley on behalf of the borrower, Stirling Properties. Tenants at the center include Sears, Target, T.J. Maxx, JC Penney, Dillard’s, Ulta Beauty, Best Buy, Academy Sports + Outdoors and AMC Movie Theater.
WICHITA FALLS, TEXAS — NorthMarq Capital has arranged the $13 million refinance of a three property multifamily portfolio consisting of 588 units in Wichita Falls. The properties are located at 3611 and 4515 Maplewood Ave. and 4700 Taft Blvd. Rob Hervey and Mark Dodson of NorthMarq secured financing on behalf of the borrower through a CMBS lender. The loan is structured under a 10-year term with a 30-year amortization schedule.
MOUNT VERNON, N.Y. — Houlihan-Parnes Realtors has arranged a $2 million first mortgage loan for a multifamily property located at 33 Williams St. in Mount Vernon’s Fleetwood section. Built in 1932, the seven-story property, which is situated on 1.1 acres, features 116 apartments, 26 on-site outdoor parking spots, 60 garage spots, gardens and a courtyard. The self-liquidating loan was placed with a savings bank at a 15-year fixed interest rate of 3.6 percent. Jeremiah Houlihan of Houlihan-Parnes arranged the financing for the undisclosed borrower.
POLAND, OHIO — RED Mortgage Capital has closed a $3.5 million FHA 232/241(a) loan for Woodlands at Hampton Woods, a skilled nursing and assisted living facility located in Poland near Youngstown. The loan will fund the addition of a new skilled nursing building to the existing 121-bed campus. The Rehabilitation Center at Hampton Woods will include 26 private beds designed for short-term rehabilitation care and a 5,000-square-foot therapy gym. The project is owned and operated by affiliates of Woodland LLC, a locally owned provider of senior care services.
WASHINGTON, D.C. — HFF has arranged a $66.8 million acquisition loan for 11 Dupont Circle, a 155,713-square-foot office building located in Washington, D.C.’s Dupont Circle neighborhood. Sue Carras and Dan McIntyre of HFF led the debt placement team in securing the 15-year, fixed-rate loan on behalf of the borrower, First Potomac Realty Trust. The loan was placed through an insurance company advised by an affiliate of Walton Street Real Estate Debt in conjunction with KeyBank Real Estate Capital. Renovated in 2004, 11 Dupont Circle was 96 percent leased at the time of financing.
CONROE, TEXAS — Lancaster Pollard’s private equity program, Propero Seniors Housing Equity Fund, has provided $26.7 million to develop Woodhaven Village, a new seniors housing community in Conroe, about 40 miles north of Houston. A joint venture led by Paradigm Senior Living, the landowners and passive individual investors are developing the community, which will include 60 independent living units, 60 assisted living units and 24 memory care beds. The joint venture expects to complete construction in late 2016. Propero is a private equity fund established by Lancaster Pollard to invest in seniors housing properties through triple-net leases with experienced operators.
OKLAHOMA CITY — Mortgage banking firm Q10 | Professional Mortgage Co. has arranged a $7 million permanent loan for Chatenay Square, a shopping center in the southwest submarket of Oklahoma City. A life insurance company provided the capital. The borrower was not disclosed. Chatenay Square comprises 113,739 square feet and is anchored by a supermarket. Bryson G. Thomason, president, and Franklin “Trey” Warren III, vice president, led the transaction for Q10.