Loans

JLL Arranges $735M CMBS Refinancing for Walt Disney World Swan & Dolphin Resort Near Orlando

by Taylor Williams May 13, 2024

LAKE BUENA VISTA, FLA. — JLL has arranged a $735 million CMBS loan for the refinancing of the 2,619-room Walt Disney World Swan & Dolphin Resort. The property comprises three Marriott-branded hotels: the 756-key Swan (Sheraton), the 1,514-key Dolphin (Westin) and the 349-key Swan Reserve (Autograph Collection). A consortium between Wells Fargo, Bank of America and Goldman Sachs provided the loan to the borrower, a joint venture between Tishman Hotel & Realty and MetLife Investment Management. The Swan & Dolphin Resort is situated adjacent to Walt Disney World’s Epcot and Hollywood Studios theme parks in Lake Buena Vista. The partnership between Tishman and MetLife completed the property in 1990. The property’s amenity package includes 16 restaurants, seven bars, three fitness centers, six outdoor pools and a 12,000-square-foot spa. In addition, the property offers 452,000 square feet of meeting and event space, including eight ballrooms, 99 meeting rooms and 100,000 square feet of outdoor space. Kevin Davis, Mark Fisher and Caleigh O’Connell led the debt placement efforts for JLL. “The Swan & Dolphin Resort CMBS loan [is] priced at the tightest pricing levels seen for hotels since 2021,” says Davis. “The market pricing was an affirmation of the strong in-place cash flows, …

May 13, 2024

Affordable Housing Development Georgia Loans Seniors Housing Southeast

Berkadia Secures HUD-Insured Financing for $72M Affordable Seniors Housing Development in Atlanta

by John Nelson May 10, 2024

ATLANTA — Berkadia has arranged financing for Englewood Senior, a 160-unit affordable seniors housing development in Atlanta. Located at 413 Englewood Ave. SE, the proposed $72 million development would offer independent living units for seniors earning 60 percent or less of the area median income (AMI). Planned amenities at the property include a fitness center, movie theater, community room and an outdoor courtyard. Carolyn Whatley and Angela Folkers of Berkadia FHA/HUD secured the construction and permanent financing through HUD’s 221(d)(4) program. The undisclosed developer has also received low-income housing tax credit (LIHTC) equity and municipal funding.

May 10, 2024

Acquisitions Industrial Loans Mississippi Southeast

CBRE Arranges $41M Acquisition Loan for Metro Memphis Industrial Portfolio for Hillwood

by John Nelson May 10, 2024

OLIVE BRANCH AND SOUTHAVEN, MISS. — CBRE has arranged a $41 million loan for Hillwood Investment Properties, a Perot company based in Dallas, to finance the acquisition of a three-building industrial portfolio in metro Memphis. Brian Linnihan, Mike Ryan, Richard Henry and Taylor Crowder of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta arranged the financing through Thrivent. The properties, which span 893,458 square feet, are located in Olive Branch and Southaven and were fully occupied at the time of financing to five tenants, including three third-party logistics firms. All three assets were built between 2013 and 2022. The seller was not disclosed.

May 10, 2024

Arizona Loans Multifamily Walker & Dunlop Western

River City Bank Provides $15M Loan for Refinancing of Villa Montaña Apartments in Scottsdale

by Amy Works May 10, 2024

SCOTTSDALE, ARIZ. — River City Bank has provided a $15 million loan for the refinancing of Villa Montaña, a 208-unit apartment complex located at 11350 E. Sahuaro Drive in Scottsdale. Built in 1986, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and a 24-hour laundry room. Mark Plenge and Grant Robertson of Walker & Dunlop arranged the fixed-rate loan on behalf of the borrower, The Al Angelo Co.

May 10, 2024

California Industrial Loans Western

MMCC Arranges $7.1M Loan for Refinancing of Bay Area Industrial Facility

by Amy Works May 10, 2024

SAN LORENZO, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $7.1 million loan for the refinancing of a 63,245-square-foot industrial building in the Bay Area community of San Lorenzo. Bradley Buzil and Connie Duong of MMCC secured the financing through a local credit union on behalf of the undisclosed borrower. Feng Transportation, a wholesaler and third-party logistics company, occupies the property, which is located at 2225 Grant Ave.

May 10, 2024

Development Loans Multifamily Texas

David B. Norton Inc. Arranges $18.7M in Financing for Multifamily Project in Boerne, Texas

by Taylor Williams May 9, 2024

BOERNE, TEXAS — Capital advisory firm David B. Norton Inc. has arranged $18.7 million in construction and equity financing for a 125-unit multifamily project in Boerne, a northwestern suburb of San Antonio. The building will rise four stories and total 98,000 square feet of rentable space. Units will come in studio, one- and two-bedroom floor plans and feature an average size of 782 square feet. Construction is set to begin immediately and last about 18 months. The borrower and direct lender were not disclosed.

May 9, 2024

Arizona Loans Multifamily Seniors Housing Western

JLL Arranges Financing for 165-Unit Seniors Housing Property in Glendale, Arizona

by Amy Works May 9, 2024

GLENDALE, ARIZ. — JLL  has arranged an undisclosed amount of financing for Inspira Arrowhead, a newly constructed seniors housing property in Glendale. Inspira Arrowhead is a three-story building that spans 187,393 square feet and totals 165 units. The borrowers are funds managed by affiliates of Fortress Investment Group LLC and COGIR Senior Living. Alanna Ellis and Alex Sheaffer led the JLL team on the transaction. The direct lender was also not disclosed.

May 9, 2024

Loans Multifamily New York Northeast Walker & Dunlop

Reynolds Asset Management Receives $19.5M Agency Loan for Refinancing of Poughkeepsie Multifamily Property

by Taylor Williams May 9, 2024

POUGHKEEPSIE, N.Y. — New Jersey-based investment firm Reynolds Asset Management has received a $19.5 million Fannie Mae loan for the refinancing of Violet Estates, an 84-unit multifamily property located north of New York City in Poughkeepsie. Violet Estates is reserved for renters age 55 and above and offers studio, one- and two-bedroom units. Amenities include a resident lounge, fitness center, bocce ball courts and a dog park. The property also houses 7,000 square feet of retail space that is leased to users in the food-and-beverage, fitness and art businesses, among others. Allan Edelson of Walker & Dunlop originated the financing.

May 9, 2024

Connecticut Healthcare Loans Northeast

MMCC Arranges $7.3M Loan for Refinancing of Medical Office Complex in Newington, Connecticut

by Taylor Williams May 9, 2024

NEWINGTON, CONN. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $7.3 million loan for the refinancing of a medical office complex in Newington, located just south of Hartford. The address and square footage of the property, which was built in 2005, were not disclosed. Gerald Kray of MMCC arranged the loan, which was structured with a five-year term, 7.5 percent interest rate and 65 percent loan-to-value ratio. The borrower and direct lender were also not disclosed.

May 9, 2024

Loans Midwest Multifamily North Dakota Seniors Housing Wisconsin

BMO Provides $70M in Bridge Financing for Three Senior Living Communities in Wisconsin, North Dakota

by Kristin Harlow May 9, 2024

WISCONSIN AND NORTH DAKOTA — BMO’s Healthcare Real Estate Group has provided a $70 million bridge loan on behalf of a joint venture between New Perspective Senior Living, Boldt Capital and Fengate Asset Management. The financing is for three senior living communities totaling 435 units. Two of the properties are in suburban Milwaukee and the third is in West Fargo, N.D. Loan proceeds include capital for future improvements and value enhancement.

May 9, 2024

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