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Oakwood Apartments
FloridaLoansMultifamilySoutheast

Greystone Provides $11M Fannie Mae Loan to Refinance Multifamily Property in Oakland Park, Florida

by Julia Sanders

OAKLAND PARK, FLA. — Greystone has provided an $11.1 million Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance Oakwood Apartments, a 124-unit multifamily property in Oakland Park. Kyle Jemtrud of Greystone originated the loan on behalf of 61-34 Madison Real Estate LLC. The nonrecourse loan carries a 15-year term and a 30-year amortization period, as well as a fixed interest rate and a 55 percent loan-to-value ratio. Built in 1971, Oakwood Apartments is a garden-style apartment community with four buildings featuring one- and two-bedroom units. Community amenities include an onsite pool and laundry facilities.

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LoansNew YorkNortheastRetail

Cronheim Mortgage Arranges $13M Loan for Refinancing of Long Island Retail Property

by Taylor Williams

WOODBURY, N.Y. — New Jersey-based Cronheim Mortgage has arranged a $13 million loan for the refinancing of a 55,000-square-foot retail property on Long Island. Located along the Jericho Turnpike in the community of Woodbury, the property is fully occupied by grocer Stop & Shop. Andrew Stewart and Dev Morris of Cronheim Mortgage arranged the 10-year, nonrecourse loan, which carried a fixed interest rate and four years of interest-only payments. The borrower was full-service firm Woodpath Associates LLC. Texas-based Aurora National Life Assurance Co. provided the loan.

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CaliforniaIndustrialLoansWestern

PSRS Arranges $3.8M Refinancing for Industrial Property in San Diego

by Amy Works

SAN DIEGO — PSRS has arranged the $3.8 million cash-out refinancing of a multi-tenant industrial property in San Diego’s Miramar neighborhood. Built in 1985, the 30,355-square-foot asset is 100 percent leased. Jennifer Mustard of PSRS secured the credit union execution, which provided the undisclosed borrower a 3.5 percent interest rate, 10-year term and $1 million cash out for other investments.

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LoansMultifamilyTexas

Gantry Arranges $19M Acquisition Loan for Multifamily Property in Saginaw, Texas

by Taylor Williams

SAGINAW, TEXAS — San Francisco-based mortgage banking firm Gantry has arranged a $19 million bridge loan for the acquisition of Ashton Apartment Homes, a 152-unit multifamily property located in the northern Fort Worth suburb of Saginaw. Built in 1984, the property consists of 14 two-story buildings on a 7.6-acre site. The undisclosed borrower plans to implement a value-add program focused on unit interiors that is a continuation of the previous owner’s renovations to common areas and amenity spaces.

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Crown Pointe
GeorgiaLoansOfficeSoutheast

Cushman & Wakefield Secures Refinancing for 509,792 SF Office Campus in Metro Atlanta

by Julia Sanders

DUNWOODY, GA. — Cushman & Wakefield has secured a loan of an undisclosed amount for the refinancing of Crown Pointe, a 509,792-square-foot office campus in Dunwoody, about 15.3 miles from downtown Atlanta. Brian Linnihan, Mike Ryan, J.P. Cordeiro and Taylor Mathis of Cushman & Wakefield secured the refinancing through Wells Fargo. Crown Pointe includes two office towers that were each built in the 1980s. The buildings’ features include flexible floorplans, more than 1,500 parking spaces onsite and direct access to the Sandy Springs MARTA station via a covered walkway. Located at 1040 and 1050 Crown Pointe Parkway, the property is situated in Atlanta’s Central Perimeter office submarket. The office campus is also located 25.9 miles from Hartsfield-Jackson Atlanta International Airport.

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Affordable HousingLoansMultifamilyTexas

Dwight Capital Provides $22.7M HUD-Insured Refinancing for San Antonio Affordable Housing Community

by Taylor Williams

SAN ANTONIO — New York City-based Dwight Capital has provided a $22.7 million HUD-insured loan for the refinancing of Stablewood Farms, a 252-unit affordable housing community in San Antonio. Built in 2002, the property comprises 16 two- and three-story buildings, five garages, a leasing office and a community center on a 22-acre site. The majority (75 percent) of the units are restricted to households earning 80 percent or less of the area median income (AMI), while 20 percent are reserved for renters earning up to 50 percent of AMI. Josh Sasouness of Dwight Capital originated the loan through HUD’s 223(f) program on behalf of the borrower, locally based nonprofit organization Merced Housing Texas.

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ConnecticutIndustrialLoansNortheastOffice

Red Oak Provides $10M Loan for Refinancing of Industrial, Office Property in Bloomfield, Connecticut

by Taylor Williams

BLOOMFIELD, CONN. — Michigan-based lender Red Oak Capital Holdings has provided a $10 million loan for the refinancing of an industrial and office property located in the northern Hartford suburb of Bloomfield. South Campus at Gillette Ridge comprises a 435,853-square-foot office building, a 101,652-square-foot warehouse and a 40,688-square-foot flex building on a 50.8-acre site. Amenities include a fitness center, conference center, full-service kitchen and a cafeteria. The undisclosed sponsor plans to use a portion of the proceeds to fund capital improvements.

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Riverside-Apts-Riverside-CA
CaliforniaLoansMultifamilyWestern

PSRS Arranges $3.5M Refinancing for Riverside Apartments in California

by Amy Works

RIVERSIDE, CALIF. — PSRS has arranged the $3.5 million cash-out refinancing of Riverside Apartments, a multifamily property located in Riverside. David Sarnoff of PSRS secured the 10-year, fixed-rate loan with a flexible prepayment structure. The name of the borrower was not released. Built in 1990, the wood-frame property features 32 garden-style apartments.

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The Halsten at Vinings Mountain
GeorgiaLoansMultifamilySoutheast

Eastern Union Secures $83.3M Bridge Loan for Multifamily Property in Atlanta’s Vinings District

by Julia Sanders

ATLANTA — New York-based Eastern Union has secured an $83.3 million bridge loan for The Halsten at Vinings Mountain, a 440-unit multifamily property in Atlanta. Michael Muller of Eastern Union arranged the non-recourse, two-year loan, which has three 12-month extension options. The loan was underwritten with interest-only payments for a period of up to three years. The borrower was not disclosed. Formerly known as Stone Ridge at Vinings, The Halsten offers studio, one-, two- and three-bedroom floorplans. Completed in 1973, the property spans 452,385 square feet. The new owner plans to upgrade the property’s exteriors and modernize and renovate the interiors. Unit features include walk-in closets, patios and balconies and washer and dryer hookups. Community amenities include a business center, clubhouse, playground, tennis court, grill, picnic area, fitness center, laundry facilities and a pet play area. Located at 3000 Cumberland Club Drive, the property is situated two miles from The Battery Atlanta and 15.7 miles from downtown Atlanta.

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