SAVANNAH, GA. — Mesa West Capital has provided a $50 million loan for the refinancing of Thompson Savannah, a 193-room upscale hotel in Savannah that opened in August 2021. The hotel sits on the southern bank of the Savannah River at 201 Port St. The borrower, a joint venture led by co-developers Regent Partners and Mariner Group, are using the five-year, non-recourse financing to take out the original construction loan. Hyatt Hotels operates Thompson Savannah, which features a signature restaurant, bakery, two bars, pool with private cabanas, fitness and wellness center and 11,000 square feet of meeting space. Russell Frahm, Pamir Niaz and Jacob Rosen led Mesa West Capital’s New York-based origination team for the financing. Jared Kelso, Steve Michels and Lauren Greenberg of Berkadia’s Hotel and Hospitality Group in New York arranged the financing on behalf of Regent and Mariner, which developed the hotel in partnership with Cadre.
Loans
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged an $11.6 million loan for the refinancing of a portfolio of six multifamily buildings totaling 61 units in The Bronx. The buildings are located in the borough’s Mott Haven neighborhood, and the portfolio includes commercial spaces. Matt Swerdlow, Matthew Dzbanek and Anthony Priest of Ariel arranged the nonrecourse loan, which was structured with a 5.35 percent interest rate and five years of interest-only payments. The direct lender and borrower were not disclosed.
HELENA, MONT. — Wood Investments Cos. has secured a $20.3 million permanent loan from Wells Fargo for Helena Skyway Regional Shopping Center. Situated at 2005 Cromwell Dixon Lane, Helena Skyway Regional offers 164,121 square feet of retail space. Current tenants include T.J. Maxx, Ulta Beauty and Hobby Lobby. Sierra Trading Post and Chick-fil-A recently signed leases to occupy space at the property, bringing the asset to 100 percent occupancy.
Ethos Commercial Advisors Arranges $8.5M in Refinancing for Multifamily Property in Portland
by Amy Works
PORTLAND, ORE. — Ethos Commercial Advisors, on behalf of Lombard Equities, has secured $8.5 million in refinancing for Division Apartments in Portland. Totaling 59 units, the property is an assemblage of three separately platted buildings that are immediate adjacent to each other and managed as a single property. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors arranged the interest-only CMBS loan with a five-year term at 70 percent loan-to-value ratio.
DALLAS — JLL has arranged a loan of an undisclosed amount for the refinancing of a 508,500-square-foot industrial building in East Dallas. Developed by Hillwood in 2007, the rail-served facility at 1201 Big Town Blvd. features 32-foot clear heights, 79 dock doors and three drive-in doors. Trey Morsbach, Jarrod McCabe, Ryan Pollack and Chad Lisbeth of JLL arranged the five-year, fixed-rate loan through PPM America. The borrower was not disclosed. The building was 88 percent leased to two unnamed tenants at the time of the loan closing.
NEW YORK CITY — Walker & Dunlop has arranged a $110 million loan for the refinancing of a portfolio of multifamily properties in New York City. The portfolio comprises 18 properties totaling 112 units and 29 commercial spaces that are located in areas such as Manhattan’s East Village neighborhood and Brooklyn’s Park Slope district. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Sean Bastian, Christopher de Raet, and Stanley Cayre of Walker & Dunlop arranged the loan, terms of which were not disclosed, through Hudson Bay Capital. The borrower was a partnership between Davean Holdings and Meadow Partners.
RANDOLPH, N.J. — Global investment and life insurance company Aegon Asset Management has provided a $7 million permanent loan for a 40,586-square-foot warehouse in the Northern New Jersey community of Randolph. The building at 11 Aspen Drive was completed in 2023, features a clear height of 36 feet and was fully leased at the time of the loan closing to two tenants: Red Bull and Dominion Solutions. Greg Nalbandian and Ben Morgenthal of JLL arranged the 11-year, fixed-rate loan on behalf of the borrower, a partnership between North Jersey Development Group and Commercial Realty Group.
Dwight Capital Finances $59.9M HUD-Insured Loan for Apartment Community in Davis, California
by Amy Works
DAVIS, CALIF. — Dwight Capital has closed a $59.9 million HUD 223(f) refinance for Tanglewood @ Davis, a garden-style apartment complex in Davis. Spanning 14.3 acres, the property offers 216 one-, two- and three-bedroom units across 30 two-story residential buildings. Units include modern appliances, granite countertops, fireplaces and balconies or patios. Community amenities include private parking garages, a basketball court, dog park, fitness center, barbecue and firepit lounge and a swimming pool. Elliot Haft of Dwight Capital originated the transaction. The borrower was not disclosed.
Northmarq Provides $43.6M Agency Refinancing for Multifamily Community in Port Orchard, Washington
by Amy Works
PORT ORCHARD, WASH. — Northmarq has provided a $43.6 million Fannie Mae loan for the refinancing of Haven Apartments, a garden-style multifamily property in Port Orchard, about 22 miles west of Seattle. The borrower was not disclosed. Located at 4999 Sidney Road SW, Haven Apartments offers one-, two- and three-bedroom floor plans with quartz countertops and high-end finishes, luxury vinyl flooring, walk-in closet options, balconies or patios, kitchen islands, full-sized washers/dryers, stainless steel appliances and primary suites. Robert Spiro of Northmarq’s Seattle Debt + Equity team originated the fixed-rate loan on behalf of the borrower. The interest-only financing was arranged through Northmarq’s Fannie Mae DUS program.
Ethos Commercial Arranges $24M Loan for Trader Joe’s-Anchored Shopping Center in Vancouver, Washington
by Amy Works
VANCOUVER, WASH. — Ethos Commercial Advisors has secured bridge financing for Skyview Station, a 77,000-square-foot retail property in north Vancouver. The borrower, Vancouver-based Hurley Development, received $24 million in non-recourse financing from an unnamed life insurance company. Completed in early 2024, the eight-building Skyview Station is anchored by a 13,000-square-foot Trader Joe’s. Other tenants include Chase Bank, Jersey Mike’s Subs, Chipotle Mexican Grill and a range of healthcare clinics. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors arranged the financing on behalf of the borrower.