Loans

Madison Realty Provides $81M Loan for Level Hotel Mixed-Use Project in Brooklyn

by Amy Works January 7, 2015

NEW YORK CITY — Madison Realty Capital (MRC) has provided Zelig Weiss with $81 million in financing for the development of 55 Wythe Avenue in Brooklyn’s Williamsburg neighborhood. The project will be a 22-story, 260,000-square-foot mixed-use property that features retail, restaurant and commercial space, as well as a 183-room Level Hotel. The development will bring 40,000 square feet of retail space, a public rooftop garden, office space on the lower levels, and a Level Hotel with a banquet hall and pool deck. MRC initially provided Zelig Weiss with $18.35 million in acquisition financing for the site in May 2014. Andy Nemeroff and Michael Nemeroff of Imperial Capital Co. and Joel Friedman of Nationwide Realty represented the borrower in the transaction.

January 7, 2015

Loans Multifamily New Hampshire Northeast Seniors Housing Vermont

Cushman & Wakefield Senior Housing Arranges $49.6M Construction Financing for LCB Senior Living

by Amy Works January 7, 2015

SALEM, N.H., AND SOUTH BURLINGTON, VT. — Cushman & Wakefield Senior Housing Capital Markets has arranged $49.6 million in construction financing and joint venture equity for two senior housing developments in New England. The projects are LCB Senior Living’s seventh and eighth senior housing developments since it began its development program in 2013. The properties are The Residence at Salem Woods in Salem and The Residence at Quarry Hill in South Burlington. The Salem property will offer 84 apartments with 88 beds for independent, assisted and memory-care living. Wells Fargo provided $15.6 million in construction financing while the joint venture equity was provided by an institutional investor. The project broke ground in November 2014 and is expected to open in early 2016. The South Burlington property features 102 apartments with 104 beds for independent, assisted and memory-care living. PNC Bank provided $18.4 million in construction financing, while Virtus Real Estate Capital provided $8.5 million in joint venture equity. Construction is slated to begin in January 2015 with a planned summer 2016 opening. Rick Swartz, Jay Wagner, Aaron Rosenzweig and Stuart Kim of Cushman & Wakefield negotiated the transactions.

January 7, 2015

Hospitality Loans New York Northeast

HFF Arranges $32M Loan for Development of Boutique Hotel in Manhattan

by Amy Works January 7, 2015

NEW YORK CITY — HFF has arranged $32 million in non-recourse financing for the development of a 200-key boutique hotel in Manhattan’s Bowery neighborhood. Located at 223-225 Broadway, the hotel will include rooftop amenity space and restaurant and music space with entrances on Bowery and Freeman Alley. The hotel is slated for completion in 2015/2016. HFF worked on behalf of the borrower, a joint venture between Omnia Group and Northwind Group, to secure the loan through a global asset management company. Jay Marshall, Christopher Peck and Sam Nidenberg of HFF represented the borrower in the transaction.

January 7, 2015

Loans Multifamily Texas

BMC Capital Provides Loans for Apartment Complexes in Metro Dallas, Austin

by Haisten Willis January 6, 2015

CEDAR PARK & SEAGOVILLE, TEXAS — BMC Capital has provided a $5.9 million acquisition loan for a 100-unit multifamily property located in Cedar Park, a suburb of Austin. BMC has also provided a $588,000 acquisition loan for a 16-unit multifamily located in the Dallas suburb of Seagoville. The first is a five-year loan that includes a 69 percent loan-to-value ratio, a 4 percent fixed interest rate and a 30-year amortization schedule. The second is a seven-year loan that includes a 70 percent loan-to-value ratio, a 4.75 percent interest rate and a 25-year amortization schedule. The loans were arranged through BMC’s correspondent banking relationships.

January 6, 2015

Features Loans Top Stories

Lenders Will Be ‘More Aggressive’ in 2015, Commercial Real Estate Finance Council Survey Shows

by John Nelson January 6, 2015

WASHINGTON, D.C. — Leading commercial real estate lenders see a strong year ahead with ample credit and capital available to meet borrower demand, according to a newly released survey of Commercial Real Estate Finance Council (CREFC) members. Survey participants expect loan volume in 2015 to top 2014 levels as loan maturities rise and property fundamentals improve. The CRE Finance Council 2015 Market Outlook Survey was released on Monday, Jan. 5, in advance of CREFC’s Annual January Conference, which is Jan. 7-9. More than 1,600 industry participants are slated to attend the event at the Fontainebleau Hotel in Miami Beach. Survey respondents expect the U.S. commercial real estate finance market in 2015 to be quite healthy, buoyed by strong investor demand, rising loan maturities, relatively low levels of new construction and improving property fundamentals. While 74 percent of survey respondents expect benchmark interest rates to rise in 2015, in contrast to last year market participants are not as worried about interest rate increases as they are confident in the Federal Reserve’s ability to manage any increases in a thoughtful manner. Overall commercial real estate market liquidity is expected to stay the same or expand in 2015. Some 47 percent of respondents …

January 6, 2015

Loans Michigan Midwest Restaurant Retail

Bernard Financial Group Arranges $2.7M Loan for Applebee’s Property

by Danielle Everson January 5, 2015

SOUTHFIELD, MICH. — Bernard Financial Group has arranged a $2.7 million loan to refinance an Applebee’s property in Southfield. The 5,430-square-foot building is a new construction. Dave Dismondy of Bernard Financial Group arranged the loan for the borrower, Kinaia-Ko LLC, through a life insurance company.

January 5, 2015

Loans Multifamily Texas

BMC Capital Provides $1.7M Loan for Apartment Complex in Dallas

by Haisten Willis December 29, 2014

DALLAS, TEXAS — BMC Capital’s Dallas office has provided a $1.7 million purchase loan for Parkway Garden Apartments in Dallas. The seven-year loan includes a 70 percent loan-to-value ratio with a 4.37 percent fixed interest rate and a 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.

December 29, 2014

Loans Michigan Midwest Retail

Bernard Financial Arranges $1.6M Loan for Retail Property in Bingham Farms, Mich.

by Danielle Everson December 29, 2014

BINGHAM FARMS, MICH. — Bernard Financial Group has arranged a $1.6 million loan for Bingham Retail, an 8,999-square-foot retail property in Bingham Farms. The property is located on an outlot of an 815,539-square-foot, five-building office park. Dave Dismondy of Bernard Financial originated the loan for the borrower, Bingham Retail LLC. The lender, Stancorp Mortgage Investors, LLC is an exclusive correspondent of Bernard Financial.

December 29, 2014

Loans Multifamily Texas

Dougherty Arranges $3.2M Loan for Townhomes in Metro Dallas

by Haisten Willis December 26, 2014

WYLIE, TEXAS — Dougherty Mortgage LLC has arranged a $3.2 million Fannie Mae loan for the acquisition of Trails Place Townhomes, a 62-unit market rate multifamily housing property located in Wylie. The 10-year loan includes one year of interest-only payments and a 30-year amortization schedule. The loan was arranged by Dougherty’s Dallas office on behalf of the borrower, 3515 North Story IBAN LLC. Old Capital provided the loan.

December 26, 2014

California Loans Multifamily Western

Fairmont at Willow Creek in Folsom Receives $28.5M

by Nellie Day December 24, 2014

FOLSOM, CALIF. – The 260-unit Fairmont at Willow Creek in Folsom has received $28.5 million in refinancing. The community is located at 200 S. Lexington Drive. The loan includes a 10-year interest-only term. Financing was arranged by Michael T. Elmore of NorthMarq Capital’s Los Angeles office through the firm’s Fannie Mae DUS lender. The borrower was CWS Capital Partners.

December 24, 2014

Newer Posts

Older Posts