Loans

Santa Rosa Plaza in Camarillo Receives $5.5M Refinance

by Nellie Day October 16, 2014

CAMARILLO, CALIF. – Santa Rosa Plaza, a 58,940-square-foot retail property in Camarillo, has received a $5.5-million refinance. The plaza is located at 5800 Santa Rosa Road. Notable tenants include CVS and Bank of America. The center was originally developed in 1980. The new permanent, non-recourse loan features a 15-year fixed-rate term with a 30-year amortization schedule. It was arranged by Ted Willis of Pacific Southwest Realty Services through a life insurance company. The funds were used to pay off a maturing CMBS loan with a higher interest rate.

October 16, 2014

Loans Michigan Midwest Multifamily

Greystone Provides $27.5M HUD Loan for 340-Unit Multifamily Property in Michigan

by Danielle Everson October 16, 2014

CANTON, MICH. — Greystone has provided a $27.5 million HUD loan to refinance a 340-unit apartment community in Canton. Fred Levine of Greystone originated the 35-year FHA financing for the borrower, Singh Development LLC. Wyndchase Apartments is a luxury townhome and apartment complex. The property includes one-, two- and three-bedroom units and amenities such as a fitness center, pool and community clubhouse. Wyndchase is part of a portfolio of multifamily and seniors housing holdings across Michigan, North Carolina and Virginia. Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs.

October 16, 2014

Healthcare Loans New York Northeast

KeyBank Closes $80.5M Loan for New York Medical Office Building

by Amy Works October 16, 2014

NEW YORK CITY — KeyBank Real Estate Capital has closed an $80.5 million loan for Hutch Tower II in the Bronx. Constructed in 2014, the 278,133-square-foot medical office building was built for Montefiore Medical Center. Peter Rand and Robert Williams of KeyBank secured the non-recourse, fixed-rate CMBS loan, which will be used to retire a construction loan with M&T.

October 16, 2014

Loans North Carolina Southeast

Grandbridge Real Estate Capital Closes $30M Refinance for Seniors Facility in Metro Raleigh

by John Nelson October 16, 2014

CARY, N.C. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team based in Atlanta has arranged a $30 million refinance loan for Woodland Terrace of Cary. The 176-unit, 184-bed seniors housing community is located in Cary, about 12 miles west of Raleigh. The property features a four-story independent living building, a one-story Alzheimer’s/memory care building and 11 independent living duplex cottages. Woodland Terrace’s common areas include a lobby, main dining room, private dining room, craft/exercise room, library, small guest apartment, card room, billiards area, chapel, TV room, beauty/barber shop and six laundry rooms. The property was 98 percent occupied at the time of sale. Richard Thomas of Grandbridge originated the five-year, interest-only loan with a 30-year amortization schedule through Freddie Mac.

October 16, 2014

Loans Midwest Retail Wisconsin

Arthur S. Levine & Associates Arranges $7M Loan for Three-Building Retail Center

by Danielle Everson October 15, 2014

DELAVAN, WIS. — Arthur S. Levine & Associates LLC has arranged a $7 million permanent, first-mortgage loan on a three-building retail complex in Delavan, approximately 53 miles southwest of Milwaukee. Delavan Crossings I, II, & III is located at 1741 -1823 E. Geneva St. All three buildings consist of a total of 41,898 square feet of rentable area accommodating 25 tenants. The buildings are outlots of a larger retail development anchored by Walmart, Kohl’s and Lowe’s. The 10-year loan includes a 30-year amortization schedule. Arthur S. Levine & Associates negotiated the loan for the undisclosed borrower with a New York-based lending institution.

October 15, 2014

Hospitality Loans Massachusetts Northeast

HFF Arranges $56.5M Loan for Newly Built Residence Inn in Boston

by Amy Works October 15, 2014

BOSTON — HFF has arranged $56.5 million in permanent financing for the Residence Inn Boston/Back Bay Fenway Park, a 175-room extended stay hotel located at 125 Brookline Ave. in Boston’s Fenway/Kenmore neighborhood. HFF secured the 10-year, fixed-rate loan for the borrower, Boylston Properties, through Cornerstone Real Estate Advisers on behalf of an institutional lender. Completed in July 2013, the eight-story, 154,684-square-foot hotel offers a mix of studio, one-bedroom and two-bedroom guestrooms. Hotel amenities include a breakfast area, lounge/bar, meeting room, indoor pool, fitness center, outdoor terrace on the top floor and below-grade parking for 50 cars. Additionally, the property includes 6,000 square feet of ground-floor retail space leased to Bar Louie’s and Santander. Fred Wittman and Robyn King of HFF represented the borrower in the transaction.

October 15, 2014

Loans Multifamily Student Housing Texas

BMC Capital Provides $1.8M Loan for Student Housing Acquisition in Austin

by Haisten Willis October 15, 2014

AUSTIN — BMC Capital’s Austin office has arranged a $1.8 million acquisition loan for a student housing property in Austin. The five-year loan includes a fixed rate of 4.4 percent and 30-year amortization. The loan was arranged through one of BMC Capital’s correspondent banking relationships.

October 15, 2014

Florida Loans Southeast

Dockerty Romer & Co. Arranges $70M Loan for Upscale Multifamily Community in Boca Raton

by John Nelson October 15, 2014

BOCA RATON, FLA. — Dockerty Romer & Co. has arranged a $70 million loan for Broadstone North Boca Village, a newly constructed luxury multifamily community in Boca Raton. The property features 384 rental units in a variety of one-, two- and three-bedroom floor plans. The community’s amenity package includes an 11,000-square-foot clubhouse, movie theater, resort-style swimming pool with cabanas, pool pavilion bar, fireplace, outdoor billiards table, putting green, fitness center, gourmet demonstration kitchen and wine room. Craig Romer of Dockerty Romer & Co. arranged the Fannie Mae DUS loan on behalf of an unnamed institutional pension fund advisor. The permanent loan will replace the original construction loan, according to Romer.

October 15, 2014

Florida Loans Southeast

KeyBank Provides $28M Loan for Motorola Florida Campus

by John Nelson October 15, 2014

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.

October 15, 2014

Loans North Carolina Southeast

NorthMarq Capital Arranges $18.8M Acquisition Loan for Colonial Plaza in Charlotte

by John Nelson October 15, 2014

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.

October 15, 2014

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