Loans

JLL Arranges Debt, Equity for 387-Unit Apartment Project in Fort Worth

by Taylor Williams June 23, 2020

FORT WORTH, TEXAS — JLL has arranged debt and equity financing for Stillwater Crystal Springs, a 387-unit apartment project in Fort Worth. The community will be situated on roughly seven acres along the Trinity River roughly three miles from the downtown area. Floor plans will consist of studio, one- and two-bedrooms units, and amenities will include a pool, fitness center, outdoor lounge, coworking space and a dog park. De’On Collins led a JLL team that placed a 40-year, floating-rate construction loan through Texas Capital Bank on behalf of the developer, Dallas-based Stillwater Capital. The team also delivered CrossHarbor Capital Partners as the equity investor. Construction is underway and expected to be complete in 2022.

June 23, 2020

Industrial Loans Office Texas

Knighthead Funding Provides $26.9M Acquisition Loan for Industrial Flex Portfolio in Dallas

by Taylor Williams June 23, 2020

DALLAS — Knighthead Funding, a direct lender with offices in Connecticut and Florida, has provided a $26.9 million acquisition loan for a portfolio of industrial flex buildings in Dallas. The portfolio spans approximately 152,000 square feet across 12 obsolete buildings, all of which are located in the Dallas Design District. The borrower, locally based investment firm Quadrant Investment Properties, plans to convert the properties into single- and multi-tenant office buildings. A portion of the proceeds will be used to fund tenant improvements and leasing costs.

June 23, 2020

Kansas Loans Midwest Multifamily

Arbor Provides $1.8M Refinancing for Apartment Community in Wichita

by Kristin Harlow June 22, 2020

WICHITA, KAN. — Arbor Realty Trust Inc. has provided a $1.8 million loan for the refinancing of Carter Apartments in Wichita. Built in 1973, the 46-unit apartment community features a playground and basketball court. It is a short distance from Friends University. Austin Walker of Arbor originated the loan on behalf of the undisclosed borrower.

June 22, 2020

California Healthcare Loans Office Western

Gantry Arranges $33.3M in Financing for Two Office Buildings in San Francisco’s East Bay Market

by Amy Works June 22, 2020

SAN FRANCISCO — Gantry has secured $33.3 million in permanent financing for adjacent office buildings in the East Bay region of San Francisco. The assets include a 70,000-square-foot, special-purpose office building and a 65,000-square-foot medical office building. The borrower, a local developer, built both assets under long-term ground leases. Andrew Mekjavich and Ben Johnson of Gantry’s San Francisco office worked with the owner to structure two 10-year, fixed-rate loans with two unique lenders, both on a non-recourse basis. The borrower used the financing to retire the existing debt and execute a business plan, details of which were not disclosed.

June 22, 2020

California Industrial Loans Western

Bellwether Enterprises Arranges $97.7M Loan for Five Industrial Properties in Southern California

by Amy Works June 19, 2020

LOS ANGELES COUNTY, CALIF. — Bellwether Enterprise Real Estate Capital has closed a $97.7 million loan for five warehouse and distribution facilities in Southern California. Four of the buildings are located in the South Bay submarket of Los Angeles County and the remaining property is located in the Inland Empire West submarket. Shelley Magoffin and Max Sauerman of Bellwether Enterprise’s Los Angeles office arranged the 25-year, fully amortizing loan with Thrivent Financial for the undisclosed borrower. The planned use of the funds was not released. Ranging in size from 60,000 square feet to more than 500,000 square feet, the five properties offer minimal office build out and minimum clear heights of 18 feet to 36 feet. One building offers refrigerator space. In total, the properties offer nearly 950,000 square feet of warehouse and distribution space. Bellwether Enterprise Real Estate Capital is the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment.

June 19, 2020

Indiana Loans Midwest Multifamily

Greystone Provides $14M Refinancing for Multifamily Property in Indiana

by Kristin Harlow June 19, 2020

CROWN POINT, IND. — Greystone has provided a $14 million FHA-insured loan for the refinancing of Cypress Pointe Apartments, a 174-unit multifamily property located in Crown Point, about six miles southwest of Merrillville. The borrower was Bayshore Properties. The Section 223(f) loan carries a 40-year term, 35-year amortization and a fixed rate. The refinancing will enable Bayshore to continue with ongoing maintenance and renovations. Originally built in 1978, Cypress Pointe features six buildings along with a clubhouse, pool, fitness center and playground.

June 19, 2020

Loans Seniors Housing South Carolina Southeast

Cushman & Wakefield Arranges $19.8M Refinancing Loan for New Seniors Housing Community in Metro Charlotte

by John Nelson June 19, 2020

ROCK HILL, S.C. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged a $19.8 million loan for HarborChase of Riverwalk, a recently opened assisted living and memory care community in Rock Hill. The borrower, private equity firm BridgeForth Capital, will use the funds to refinance the construction loan. Operated by Harbor Retirement Associates, HarborChase of Riverwalk is an 88-unit property located within the Riverwalk master-planned development. The community, which opened February, is located 25 miles south of Charlotte. Richard Swartz, Jay Wagner and Tim Hosmer of Cushman & Wakefield arranged the loan through Saperean Capital.

June 19, 2020

District of Columbia Loans Office Southeast

JLL Arranges $68.5M Refinancing Loan for Office Building in D.C.’s Golden Triangle District

by Alex Tostado June 18, 2020

WASHINGTON, D.C. — JLL has arranged a $68.5 million refinancing loan for 1750 K St., a 165,604-square-foot office building in Washington, D.C. Bridge Investment Group provided the floating-rate loan to the borrower, Mirae Asset Global Investments. The 12-story property is fully leased to five tenants and is located within D.C.’s Golden Triangle neighborhood. Cary Abod, Rob Carey and Andrew Weir of JLL arranged the loan on behalf of the borrower.

June 18, 2020

Loans Midwest Multifamily Ohio

Hunt Provides $17.2M Refinancing for Multifamily Property in Toledo

by Kristin Harlow June 18, 2020

TOLEDO, OHIO — Hunt Real Estate Capital has provided a $17.2 million Fannie Mae loan for the refinancing of Steeplechase Apartments in Toledo. The 242-unit, garden-style multifamily property was built in phases from 1999 to 2004. It sits on a 19.5-acre site. The 12-year, fixed-rate loan features a 30-year amortization schedule. Hunt provided initial acquisition financing for the asset in 2017. Since the acquisition, the undisclosed borrower has invested $524,000 in capital improvements, including new water heaters, appliances, windows, landscaping, vinyl replacement, HVAC upgrades and carpet replacement.

June 18, 2020

Loans Multifamily New York Northeast

Gantry Arranges $22.4M Refinancing for Two Properties in Upstate New York

by Alex Patton June 17, 2020

BUFFALO, N.Y. — Gantry has arranged a total of $22.4 million in refinancing loans for two properties in Upstate New York. In the first transaction, a regional bank and a correspondent life insurance company provided a 10-year loan at a fixed interest rate of 3.1 percent to an undisclosed borrower. That loan provided permanent financing for a multi-tenant, mixed-use property located in an affluent suburb of Buffalo. The same lender provided a nonrecourse loan at a 10-year, fixed interest rate with a 30-year amortization. That loan provided permanent financing for a multifamily property located in the Hudson Valley region. Tom Grzebinski and Jack Stelianou of Gantry arranged the loans.

June 17, 2020

Newer Posts

Older Posts

Upcoming Events

Aug
18