PLANTATION, FLA. — KeyBank Real Estate Capital has closed a $28 million loan for Motorola Campus Building I and III, an office and research and development building in Plantation. The properties were built in 1982 and renovated this year. Michael Keach of KeyBank secured the loan, which was used to retire an existing KeyBank balance-sheet loan.
CHARLOTTE, N.C. — NorthMarq Capital has arranged $18.8 million in acquisition financing for Colonial Plaza, a 202,810-square-foot, Class A suburban office building in Charlotte. Colonial Plaza is located at 2101 Rexford Road in Charlotte’s SouthPark submarket. Keith Braddish of NorthMarq Capital’s New York metro office arranged the balance sheet loan through GE Capital on behalf of the borrower, a joint venture between Highbrook Investment Management LLC and LRC Properties LLC.
NORWALK, CALIF. — Norwalk Plaza, a 59,736-square-foot retail property, has received a $5-million mortgage. The property is located at 11660-11790 Firestone Blvd. in Norwalk. The loan features a five-year term and 30-year amortization schedule. Financing was arranged by Michael T. Elmore and Ory Schwartz of NorthMarq Capital’s Los Angeles regional office. It was arranged for a Los Angeles-based private investor through the firm’s correspondent relationship with a life insurance company.
COLORADO SPRINGS, COLO. — Advenir at Cheyenne Crossing, an apartment complex in Colorado Springs, has received a $3.8-million loan. The community is located at 640 Wycliffe Drive. The supplemental loan was originated by Charles J. Foschini, Christopher Apone and Christian Lee of the CBRE Capital Markets, South Florida Institutional Properties team, on behalf of Advenir@Cheyenne.
INDIANAPOLIS — Mission Capital Advisors’ debt and equity finance group has arranged $31.4 million in construction financing for a 215-unit multifamily complex in Indianapolis. The financing comprised $7.1 million of institutional joint venture equity and a $24.3 million construction loan for the 225,000-square-foot project. A local sponsor is developing the project, which is located at 600 E. Michigan St. The project will comprise two, four-story multifamily structures around a landscaped courtyard with a resort-style pool, constructed over one level of subterranean parking. Brad Lyons, Ari Hirt and Steven Buchwald of Mission Capital Advisors represented the sponsor in arranging the financing with PNC Bank.
YORKTOWN HEIGHTS, N.Y. — Houlihan-Parnes Realtors has placed an acquisition loan and credit facility totaling $13.2 million on two properties in Yorktown Heights. Located at 2649-2651 Strang Blvd., the corporate park contains a total of 209,078 square feet of rentable office space, which will be managed and leased by GHP Office Realty. The interest-only loan, which was placed with a local bank, features a 3.875 percent interest rate for three years, a renewal option and a flexible pre-pay schedule. Kelly Houlihan-Buckley and James Houlihan of Houlihan-Parnes secured the financing. John Hughes and James Maloney of Great American Title arranged the title. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP provided legal counsel to the undisclosed borrower. GHP Office Realty is the office building division of Houlihan-Parnes Realtors LLC.
ARLINGTON HEIGHTS, ILL. — NXT Capital has provided a $12.3 million first mortgage to finance the acquisition of a mid-rise office building located in Arlington Heights. The 136,500-square-foot property includes a five-story parking garage. The property is seven miles from O’Hare International Airport and near the interchange of several major freeways. The transaction was brought to NXT Capital by John Parrett and Molly Green of CBRE Capital Markets’ Debt & Structured Finance office in Chicago.
NEWINGTON, CONN. — NorthMarq Capital has secured $24 million to refinance Newington Commons Shopping Center located at 196 Kitts Lane in Newington. The 189,864-square-foot shopping center is tenanted by Stop & Shop, Bob’s Stores, Party City, Petco, Planet Fitness and Michaels. The 10-year loan features two years of interest-only payment and a 30-year amortization schedule. Keith Braddish of NorthMarq Capital’s New York office arranged the financing for the borrower through NorthMarq’s relationship with a CMBS lender.
CANTON, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.2 million acquisition loan for a single-tenant data center in Canton. The center is leased to a non-investment-grade tenant. Dean Giannakopoulos of MMCC’s Chicago downtown office arranged financing for the undisclosed borrower. The 25-year loan is fixed at 3.97 percent. The loan-to-value ratio is 70 percent.
WASHINGTON, D.C. — First Niagara’s commercial real estate group has closed on a $65 million loan with Mid-Atlantic Realty Partners (MRP Realty) for the construction of a 305-unit mixed-use apartment project. The property, known as The Waterfront, will be located along the Anacostia Waterfront across the street from Nationals Park in Washington, D.C. The development will feature ground-floor retail and underground parking space. Riverfront Holdings I LLC, a joint venture between MRP Realty and Florida Rock Properties, is overseeing the development of the project, which is slated for delivery by September 2016. The Waterfront will feature a rooftop swimming pool with an indoor lounge and kitchen area, local art gallery, fitness center, ground-level lounge with billiards, a bar area, outdoor seating with a fireplace, rooftop movie screen and an outdoor kitchen. Yvonne Ulrich of First Niagara originated the loan.