Loans

Colliers Arranges $21.5M Refinancing of Shopping Center in Memphis

by John Nelson August 19, 2015

MEMPHIS, TENN. — Colliers International has arranged the $21.5 million refinancing of Poplar Plaza, a 351,419-square-foot shopping center in Memphis. A 85,000-square-foot Kroger anchors the center, which comprises 50 tenants, five restaurants and a 40,000-square-foot fitness center. The property is currently 95.4 percent leased to tenants such as Petco, Old Navy and Dollar Tree. Jeff Black of Colliers International’s Boston office secured the 10-year, fixed-rate loan through Prudential Mortgage Capital Co. on behalf of the borrower, an affiliate of Boston-based Finard Properties LLC.

August 19, 2015

California Loans Retail Western

HFF Arranges $33M Refinance of The Village at Nellie Gail Ranch in Laguna

by Nellie Day August 19, 2015

LAGUNA HILLS, CALIF. — Holliday Fenoglio Fowler (HFF) has secured a $33 million refinancing for The Village at Nellie Gail Ranch, an 87,561-square-foot Smart & Final Extra-anchored shopping center located in Laguna Hills. James Fowler and Greg Brown of HFF represented the borrower, Fred Sands of Vintage Real Estate, to secure the two-year, floating-rate loan with three one-year extensions through Colony Capital. Tenants at the center include Chuck E. Cheese’s, Nothing Bundt Cakes, Banfield Pet Hospital, Rita’s Ice, Pharmaca, Laguna Hills Dental and Edible Arrangements. Loan proceeds will be used to refinance existing debt and fund capital expenditures related to tenant improvement costs and leasing commissions to lease the limited remaining vacant space.

August 19, 2015

California Loans Retail Western

DTZ Mortgage Services Closes $8.7M Acquisition Loan for Retail Center

by Nellie Day August 19, 2015

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.

August 19, 2015

California Loans Retail Western

Madison Marquette, Carlin Arrange Recapitalization of Napa Retail Center

by Nellie Day August 19, 2015

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.

August 19, 2015

Loans Multifamily New Jersey Northeast Seniors Housing

HFF Closes Sale, Arranges $33.2M Loan for 142-Unit Seniors Housing Property

by Amy Works August 18, 2015

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.

August 18, 2015

Loans Multifamily Student Housing Texas

VistaPointe Partners Secures $29.6M Construction Loan for Apartment Complex in College Station

by Haisten Willis August 18, 2015

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.

August 18, 2015

Florida Loans Multifamily Southeast

New York Life Real Estate Investors Originates $41.3M Loan for Apartment Community in Metro Orlando

by John Nelson August 18, 2015

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.

August 18, 2015

California Loans Retail Western

Madison Marquette, Carlin Co. Arrange Recapitalization of Napa Retail Center

by Nellie Day August 17, 2015

August 17, 2015

California Loans Retail Western

NorthMarq Capital Arranges $4.5M Refinance of Palm Court Plaza

by Nellie Day August 17, 2015

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.

August 17, 2015

Colorado Loans Retail Western

HFF Arranges Joint Venture Equity and Financing for Denver Pavilions

by Nellie Day August 17, 2015

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.

August 17, 2015

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