REBusinessOnline

NXT Capital Provides $28.5M Loan for Refinancing of San Antonio Apartments

SAN ANTONIO — Chicago-based NXT Capital has provided a $28.5 million loan for the refinancing of a 278-unit apartment community in San Antonio. The property is located within a master-planned community featuring over 10 million square feet of retail space and 5 million square feet of office space within a five-mile radius. Communal amenities of the multifamily property include a resort-style pool with a tanning ledge, cabanas with grilling stations, an outdoor fire pit, dog park, clubroom, …

NorthMarq Arranges $7M Acquisition Loan for Southland 75 Shopping Center in Dayton, Ohio

DAYTON, OHIO — NorthMarq has arranged a $7 million loan for the acquisition of Southland 75 Shopping Center in Dayton. The 117,410-square-foot retail center is located at 8265-8361 Springboro Pike. Major tenants include Dollar Tree, Hobby Lobby and Get Air Trampoline Park. Noah Juran of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A regional bank provided the loan for the undisclosed

JLL Arranges $128.3M Construction Loan for Dallas Office Tower

DALLAS — JLL has arranged a $128.3 million construction loan for The Link at Uptown, a 25-story office tower that will be located in the Uptown area of Dallas. Located at 2601 Olive St., the property will total 300,000 square feet. De’On Collins of JLL arranged the five-year, floating-rate loan through Broad Street Real Estate Credit Partners III, an investment fund managed by the Merchant Banking Division of Goldman Sachs. The borrower was Kaizen Development Partners. The target completion …

NorthMarq Arranges $1.4M Acquisition Loan for Industrial Property in Ralston, Nebraska

RALSTON, NEB. — NorthMarq has arranged a $1.4 million loan for the acquisition of Ralston Business Park in Ralston near Omaha. The 59,488-square-foot industrial property is located along 77th Street. Steve Ruff of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A life insurance company provided the

NorthMarq Arranges $16M Construction Loan for Student Housing Complex Near Virginia Tech

BLACKSBURG, VA. — NorthMarq has arranged $16 million in construction financing for Park 37 Apartments, a 215-bed student housing community located near the Virginia Tech campus in Blacksburg. Mike Lowry of NorthMarq secured the loan through a regional bank on behalf of an undisclosed, Virginia-based developer. The financing features a three-year term and interest-only payments. The developer broke ground on Park 37 Apartments in April, with completion scheduled for July 2020. Shared …

Dekel Capital Arranges More Than $80M in Financing for Development of Multifamily Complex in California

SOUTH GATE, CALIF. — Dekel Capital has secured more than $80 million in preferred equity and construction financing for the development of Jefferson on Imperial, a multifamily community located in South Gate. The borrower is JPI. Situated on 4.1 acres at 10920 Garfield Ave., the four-story Jefferson on Imperial will feature 244 apartments in a mix of one-, two- and three-bedroom layouts, as well as a multi-level parking garage with a total of 458 stalls. JPI broke ground on the development …

PCCP Funds $20M Mezzanine Loan to Refinance Hilton Hotel in San Francisco’s Financial District

SAN FRANCISCO — PCCP has provided a $20 million, fixed-rate mezzanine loan for the refinancing of Hilton San Francisco Financial District. Justice Investors, an entity controlled by The InterGroup Corp., owns and operates the hotel. Located at 750 Kearny St. in downtown San Francisco, the 26-story hotel feature 544 guest rooms, with no hotel rooms below the fifth floor. Additionally, the property offers a restaurant and lobby bar, 21,936 square feet of meeting space, a fitness center, a …

Greystone Provides $7.9M in Green Financing for Las Vegas Multifamily Property

LAS VEGAS, NEV. — Greystone has provided a $7.9 million Freddie Mac Green Advantage loan for the refinancing of Nottingham Gardens, a multifamily property located at 2165 E. Rochelle Ave. in Las Vegas. The fixed-rate loan carries a 10-year term with three years of interest-only payments and a 30-year amortization. Ana Ramos of Greystone’s Los Angeles office originated the loan, with Andy Bratt of Newmark Realty Capital acting as correspondent. Built in 1974, the property features 92 …

Madison Realty Capital Provides $83M Loan for Manhattan Hotel

NEW YORK CITY — Madison Realty Capital, a New York-based lender, has provided an $83 million loan to recapitalize and rebrand a 230-room hotel in Manhattan. The loan proceeds allowed the borrower, Long Island-based McSam Hotel Group, to retire the existing debt on the property and transition the hotel to another brand. The hotel is located across from the Rockefeller

CBRE Funds $39.7M Acquisition Loan for Apartment Community in Southwest Charlotte

CHARLOTTE, N.C. — CBRE has provided a $39.7 million Freddie Mac acquisition loan for Arbor Steele Creek, a 384-unit apartment community in southwest Charlotte. The borrower, a joint venture between Charleston, S.C.-based Blaze Partners and Acre Valley Real Estate Capital, plans to continue interior and exterior renovations. The previous owner, a joint venture between Blaze Partners and True North Management Group, acquired the property in 2017 and began renovations. The complex comprises 16 …

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