KILLEEN, TEXAS — Arbor Realty Trust Inc. has provided a $1.3 million Fannie Mae loan for the refinancing of Girard Court, an apartment complex located in the Central Texas city of Killeen. The property was built in 2006 and features 24 units with hardwood floors, built-in bookcases, vaulted ceilings and French doors. Geoffrey Platt of Arbor Realty originated the loan as part of a $13.9 million refinancing package for a portfolio of multifamily properties totaling 256 units in seven states. The borrower was not disclosed.
NEW YORK CITY — Hunt Real Estate Capital has provided three Fannie Mae refinancing loans totaling $45.5 million for three multifamily communities comprising 620 units in Alabama and Georgia. The properties are Tapestry on Vaughn in Montgomery and Trilliam Luxury Apartment Homes in Clanton, Ala.; and Pavilion at Plantation Way in Macon, Ga. Chad Hagwood of New York City-based Hunt Real Estate originated the loan on behalf of the borrower, EBSCO Income Properties LLC. All three loans feature 12-year terms and fixed interest rates with four years of interest-only payments. Tapestry on Vaughn is a 252-unit garden-style community that was built in 1994. The community offers one- through three-bedroom floor plans. Communal amenities include a picnic area, fitness center, pool and a playground. Trilliam Luxury Apartments is a 128-unit affordable housing community that was built in 2002. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, resident lounge, storage space, fitness center, pool and a playground. Pavilion at Plantation Way is a 240-unit property that was built in 2009. The community offers one- through three-bedroom floor plans. Communal amenities include a pool, media center, movie theater, fitness center and a business center.
BOCA RATON, FLA. — Berkadia has arranged a $6.9 million acquisition loan for a 52-unit apartment portfolio in Boca Raton. An undisclosed bridge lender provided the fixed-rate, three-year loan on behalf of the borrower, Rental Asset Management (RAM). The properties were unoccupied at the time of sale. Mitch Sinberg and Matthew Robbins of Berkadia represented the borrower in the transaction. The first property, Villas at Camino, comprises five two-story building totaling 28 units. The property is located at 329 W. Camino Real. Built between 1958 and 1968, the asset offers amenities such as a pool, cabana and two laundry facilities. The other property, dubbed the Southwest 14th and 15th Street portfolio, offers two- and three-bedroom floor plans. The collection of apartments were built between 1966 and 1974 and range from 1,180 and 2,250 square feet.
GLENDALE, COLO. — NXT Capital has provided a $45.6 million loan to finance the acquisition of Cherry Creek Plaza I & II, a two-building, Class B office park in Glendale. C.J. Kelly of CBRE Atlanta and Jeff Halsey of CBRE Denver placed the loan with NXT Capital for the undisclosed borrower. Located five miles from downtown Denver, the 335,000-square-foot asset features individual lobbies, two fitness centers, a deli, boardroom, classroom and three-story parking structure.
DALLAS — JLL has arranged a $10 million loan for the refinancing of Pinnacle Business Center, a 181,050-square-foot industrial complex in Dallas. The three-building, Class A property was built in 2004 and was fully leased at the time of the loan closing. Property features include clear heights ranging from 24 to 28 feet, 51 dock-high doors, nine ramp access doors, office space and ample parking. D.J. Meagher, Paul Brindley and Dillon Donald of JLL arranged the loan through insurance company National Life on behalf of the borrower, an affiliate of California-based Cohen Asset Management. The loan carries a 10-year term and a fixed interest rate.
REYNOLDSBURG, OHIO — RED Mortgage Capital, a division of ORIX Real Estate Capital, has provided an $11.4 million Freddie Mac loan for the refinancing of Redwood Reynoldsburg in suburban Columbus. Formerly known as Blacklick Pointe, the 89-unit multifamily community consists of 20 one-story buildings. Each residence has an attached two-car garage. Built in 2018, the property is 94.4 percent occupied. Reynoldsburg One LLC was the borrower. The 10-year loan features a 30-year amortization schedule.
FLORIDA AND MICHIGAN — KeyBank Real Estate Capital has structured $557.4 million in Fannie Mae loans on behalf of Ann Arbor, Mich.-based McKinley, which invests in and manages residential and commercial properties nationwide. The 15-year, fixed-rate loans will be used to refinance 18 multifamily properties located in Florida and Michigan. Built between 1967 and 1997, the communities comprise 5,387 units. Todd Linehan and David Baker of Cleveland-based KeyBank originated the financing.
NEW BERLIN, WIS. — Associated Bank has provided a $10.5 million loan to WRP New Berlin II for the construction of a 192,800-square-foot warehouse in New Berlin, a suburb of Milwaukee. The project will be located at the intersection of West Small and Moorland roads. Completion is slated for fall 2021. The borrower is a fund managed by Lake Forest, Ill.-based Westminster Capital. Ted Notz of Associated Bank managed the loan and closing.
SAN FRANCISCO — Gantry has secured $35 million in permanent financing for two Class B office buildings in San Francisco. Located at 1301 Sansome St. and 945 Battery St., the two buildings are situated just north of San Francisco’s Financial District. Built in 1910-1940 and renovated in 1999, 1301 Sansome Street features six stories, including a penthouse, offering 38,868 square feet of office space. Grove Collaborative occupies the entire building. Built in 1911 and renovated in 1999, the six-story 945 Battery Street features 67,966 square feet of office space, including a penthouse. Second Life, an online virtual platform, and Lightstep, a provider of software solutions that help organizations stay in control of their systems, occupy the building. George Mitsanas and Josh Natker of Gantry’s Los Angeles office arranged the 15-year loan, which has a 30-year amortization schedule, with a correspondent life insurance company for the undisclosed borrower. Gantry will service the permanent loan.
SAUSALITO, CALIF. — Greystone has provided a $33 million Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance Sausalito Towers, a garden-style apartment community in Sausalito. Tim Thompson of Greystone’s San Francisco office originated the transaction for the borrower, Sausalito Investments. The loan refinances two existing Greystone loans on the property, and features a 10-year term and 30-year amortization with seven years of interest-only payments. Additionally, the financing has a 61 percent loan-to-value ratio that enables the borrower to continue with ongoing maintenance and renovation. Originally built in 1962, Sausalito Towers features 90 one-, two- and three-bedroom units with views of San Francisco Bay, covered balconies, wood-burning fireplaces and in-unit washers and dryers. The community features a heated swimming pool, on-site parking and private storage.