KANEOHE, HAWAII — Gantry has secured a $10 million permanent loan to refinance maturing debt for a self-storage facility in Kaneohe on the Hawaiian island of Oahu. The two-story, climate-controlled facility features 698 units encompassing 50,135 rentable square feet. Public Storage manages the property, which is located at 46-004 Kawa St. Robert Slatt and Alex Poulos of Gantry arranged the five-year, fixed-rate loan through a regional bank for the borrower, a private real estate investor.
WASHINGTON, D.C. — Affiliates of Harbor Group International LLC (HGI) have provided a $38.3 million loan for the refinancing of a 12-story office building located at 1250 Eye St. in Washington, D.C.’s East End district. The borrower is Kairos Investment Management Co., which purchased the 180,000-square-foot property in 2023. Kairos plans to use the loan proceeds to refinance existing debt and fund ongoing renovations and enhancements of the property, while also supporting leasing activity. These enhancements will include a new amenity suite on the 12th floor that Gensler designed that will feature an elevated hospitality lounge, conference center, bar/kitchen and terrace. Renovations include move-in ready office spaces and upgrades to commons areas including the lobby, fitness center, bike room and parking/valet services.
KATY, TEXAS — Concord Summit Capital, a South Florida-based financial intermediary, has arranged a $25.5 million construction loan for Colonial Village, a 103-unit build-to-rent residential project that will be located in the western Houston suburb of Katy. The development will consist of 88 two-bedroom and 15 three-bedroom duplex-style homes on a 7.9-acre site. Daniel Eidson and Ben Applebaum of Concord Summit Capital arranged the debt, which carries an 88 percent loan-to-cost ratio, on behalf of the borrower, Luminous Homes. The direct lender was not disclosed.
SAN DIEGO — A partnership between Cisterra Development and Spruce Capital Group has received a $98 million loan for the refinancing of Radian, a Class A apartment property in San Diego. Located at 675 Ninth Ave., Radian offers 241 one-, two- and three-bedroom units, including five penthouses. The community features a two-story ground-floor retail area and a rooftop pool and spa with views of Petco Park, downtown San Diego and the San Diego Bay. Mark McGovern, Scott Peterson and Morgon Fraser of CBRE Capital Markets’ Debt & Structured Finance team arranged the three-year, fixed-rate permanent loan on behalf of the borrower.
NEW YORK CITY — Lument has provided a $26.8 million HUD-insured loan for the refinancing of three affordable seniors housing properties totaling 203 units in Brooklyn. West End Gardens I and II are both located in the Borough Park neighborhood, while Webster Terrace is located in the Kensington submarket. All three properties are reserved for renters aged 62 and above and mobility-impaired individuals. Paul Weissman and Andrew Nicoll of Lument originated the financing, which was structured as a scattered-site loan and carries a fixed interest rate and a fully amortized 35-year term, through HUD’s 223(f) program. The borrower was HDF Cos.
CANAL WINCHESTER, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.1 million acquisition loan for a medical office property located at 9695 Basil Western Road in Canal Winchester, a southeast suburb of Columbus. The building is home to MedVet, which operates a 24-hour emergency vet. Chad O’Connor of MMCC arranged the financing with a credit union on behalf of the private borrower. The 10-year loan features a 6.5 percent interest rate, 30-year amortization period and 60 percent loan-to-value ratio.
ANTIOCH, TENN. — HKS Real Estate Advisors has arranged $25 million in financing for the development of a dual-branded hotel located within the master-planned community of Century Farms in Antioch, approximately 12 miles southeast of downtown Nashville. The building will offer 189 rooms under the Hampton Inn brand and the Home2 Suites by Hilton brand. Mountain Commerce Bank provided $15.6 million in senior debt notes, while Nuveen provided $9.9 million in C-PACE financing for the borrower, Nish Jobalia and Nick Patel of Milap Hotels LLC.
HOUSTON — National investment firm Outrigger Industrial has received $96.9 million in financing for Generation Park Distribution Center, a 1.3 million-square-foot industrial property in northeast Houston. According to a property flyer from CBRE, Generation Park Distribution Center comprises an approximately 1 million-square-foot, cross-dock facility and a 255,871-square-foot, rear-load warehouse on an 87.5-acre site. Building features include 32- to 40-foot clear heights, 185-foot truck court depths and excess trailer parking. Barings provided the debt, which Outrigger secured on behalf of Centris Industrial, the private REIT that Outrigger sponsors and manages.
JERSEY CITY, N.J. — Cushman & Wakefield has arranged an $81 million loan for the refinancing of One Grove, a 200-unit apartment building in Jersey City. Designed by MHS Architecture and completed in 2024, One Grove offers studio, one-, two- and three-bedroom units and amenities such as a landscaped rooftop terrace, fitness center, coworking space, resident lounge and a demonstration kitchen. The property also offers fully furnished, short-term rental apartments. Brad Domenico, Frank Stanislaski, Jack Subers, Niko Nicolaou and Ryan Dowd of Cushman & Wakefield arranged the loan through Societe Generale Group on behalf of the borrower, TKK Capital.
LOS ANGELES — The Luzzatto Co. has received $32.4 million in C-PACE financing through Nuveen Green Capital for Depot & Atlas, a creative office campus in Los Angeles’ West Adams submarket. Jeff Sause and Lauren Sackler of JLL Capital Markets Debt Advisory team arranged the financing for the borrower. Located at 3609-3645 10th Ave., Depot & Atlas offers 107,156 square feet of Class A space spread across two buildings, as well as two stories of subterranean parking. After acquiring the site in 2019, The Luzzatto Co. developed the Depot, a 94,726-square-foot creative office building, in late 2023 and redeveloped the neighboring 12,430-square-foot Atlas building. The property was 39 percent leased at the time of financing, with the Los Angeles Department of Mental Health occupying the entire first floor of the building.
