Loans

HJ Sims Secures $45.8M Construction Loan for Seniors Housing Property in New Haven, Connecticut

by Alex Patton November 15, 2019

NEW HAVEN, CONN. — HJ Sims has secured a $45.8 million construction loan for The Mary Wade Home, a seniors housing property in New Haven that offers a skilled nursing center, residential care home services, adult day medical health center, physical rehabilitation and transportation services. The borrower, Mary Wade, is expanding by adding an assisted living and memory care building on parcels of nearby land acquired over several years. This new building, when delivered in 2021, will complete the continuum of care by enabling residents with assisted living needs to remain in the community as their needs change over time.

November 15, 2019

Loans Mixed-Use Texas

JLL Arranges $140M Loan for Refinancing of Houston’s GreenStreet Mixed-Use Development

by Taylor Williams November 15, 2019

HOUSTON — JLL has arranged a $140 million loan for the refinancing of GreenStreet, a 617,000-square-foot mixed-use development in Houston’s Central Business District. GreenStreet spans four contiguous city blocks and features office, retail, restaurant and entertainment uses, as well as central open-air green space. Colby Mueck, Matthew Putterman and Laura Sellingsloh of JLL arranged the funds through Blackstone Real Estate Debt Strategies on behalf of the borrowers, Lionstone Investments and Midway.

November 15, 2019

Loans Massachusetts Multifamily Northeast

Berkadia Arranges $49.7M Acquisition Loan for Multifamily Community Near Boston

by Taylor Williams November 14, 2019

WATERTOWN, MASS. — Berkadia has arranged a $49.7 million acquisition loan for Riverbend on the Charles, a 170-unit multifamily community in Watertown, a western suburb of Boston. PNC Bank provided the seven-year, fixed-rate loan. Built in 2014, Riverbend on the Charles offers studio, one- and two-bedroom units with amenities including a clubhouse with a billiards room, a bike storage room, heated pool, fitness center, storage units and a dog park. Charles Foschini and Christopher Apone of Berkadia arranged the loan on behalf of the borrower, Harbor Group International.

November 14, 2019

Loans Retail Texas

Berkadia Arranges $17.6M Loan for Refinancing of Frisco Retail Center

by Taylor Williams November 14, 2019

FRISCO, TEXAS — Berkadia has arranged a $17.6 million loan for the refinancing of World Cup Plaza, a 91,428-square-foot retail center in Frisco. Located near Toyota Stadium, home of the FC Dallas Major League Soccer team, property houses tenants such as Blue Goose Cantina, The British Lion, The Green Gator, Rotolo’s Pizzeria, The Boardroom and Wells Fargo Bank. An undisclosed CMBS lender provided the 10-year loan, which features a fixed, sub-4 percent interest rate. The borrower was not disclosed.

November 14, 2019

Development Florida Loans Office Southeast

BGI Capital Provides $12M Renovation Loan for Office Building in Metro Miami

by Alex Tostado November 14, 2019

CORAL GABLES, FLA. — BGI Capital has provided a $12 million loan for the renovation of a 52,179-square-foot office building in Coral Gables. The borrower, Location Ventures, will renovate the building’s ground floor into a new coworking business known as “FORUM.” Jason Shapiro of Aztec Group Inc. arranged the 24-month loan on behalf of the borrower. The building, located at 299 Alhambra Circle, will be the first location for the coworking platform. Location Ventures expects renovations to be completed within four to five months. The property is three blocks north of Miracle Mile and five miles east of downtown Miami.

November 14, 2019

Development Georgia Loans Mixed-Use Southeast

Trez Forman Capital Provides $26.7M Loan for Land Acquisition, Phase I of Exchange at Gwinnett Project in Metro Atlanta

by Alex Tostado November 13, 2019

BUFORD, GA. — Trez Forman Capital has provided a $26.7 million loan to Fuqua Development for the acquisition of 67.5 acres in Buford to develop The Exchange at Gwinnett, a planned $350 million mixed-use development in metro Atlanta. Phase I will include 56,000 square feet of retail space that will feature already-committed tenants such as Starbucks, Chipotle and City Barbecue. The property is located at 2925 Buford Drive, next to the Mall of Georgia. At the same time as the land sale, Fuqua Development sold 33 acres to three separate entities for the developments of Topgolf and Rooms-to-Go, as well as a 450-unit apartment community being developed by The Worthing Cos. Fuqua plans to sell another 13 acres for the development of an Andretti Indoor Karting & Games, a 123-room hotel and restaurants. Brett Forman and Russ Holland of Trez Forman Capital originated the loan on behalf of Atlanta-based Fuqua Development.

November 13, 2019

Loans Multifamily New Jersey Northeast

Arbor Provides $55.3M Acquisition Loan for Multifamily Portfolio Near New York City

by Alex Patton November 13, 2019

HASBROUK HEIGHTS, N.J. — Arbor Realty Trust Inc. has provided a $55.3 million Fannie Mae acquisition loan for a multifamily portfolio totaling 388 units in Hasbrouk Heights, an eastern suburb of New York City. Skyline Apartments, built in 1950, comprises 124 one- and two-bedroom units. The Boulevard Apartments, built in 1951, consists of 214 one- and two-bedroom units. The loan carries a 12-year fixed interest rate with six years of interest-only payments. Stephen York of Arbor’s New York City office originated the loan. The borrower was undisclosed.

November 13, 2019

Acquisitions California Loans Office Western

JLL Arranges $193M Sale of, $160M Financing for Pasadena Office Portfolio

by Amy Works November 12, 2019

PASADENA, CALIF. — JLL has brokered the $193 million sale and secured $160 million in financing for The Pasadena Collection, an institutional-quality office portfolio in Pasadena. Swift Real Estate Partners acquired the asset from a global investment manager. Totaling 516,890 square feet, the portfolio includes a 146,313-square-foot building at 790 E. Colorado Blvd., a 211,792-square-foot building at 155 N. Lake Ave. and a 158,785-square-foot building at 35 N. Lake Ave. At the time of sale, the portfolio was 68 percent occupied. Michael Leggett, Andrew Harper and Matt McRoskey of JLL Capital Markets represented the seller, while Paul Brindley, Todd Sugimoto, Jeff Sause and Steven Paskover of JLL Capital Market secured acquisition financing for the buyer.

November 12, 2019

Loans Multifamily Texas

Dougherty Arranges Acquisition Financing for 89-Unit Apartment Community Near Fort Worth

by Taylor Williams November 12, 2019

HALTOM CITY, TEXAS — Dougherty Mortgage LLC has arranged an undisclosed amount of acquisition financing for The Woods of Haltom Apartment Homes, an 89-unit multifamily community located north of Fort Worth. The loan, which carried a 12-year term and a 30-year amortization schedule, was arranged through a partnership with Old Capital Lending for borrower Haltom Woods LLC.

November 12, 2019

Development Loans Mixed-Use South Carolina Southeast

Trez Forman Provides $115M Construction Loan for Camperdown Square Mixed-Use Project in Downtown Greenville

by Alex Tostado November 11, 2019

GREENVILLE, S.C. — Trez Forman has provided a $115 million construction loan for Camperdown Square, a mixed-use development that is 40 percent built in downtown Greenville. The borrower, Centennial American Partners, is developing Camperdown Square, which is situated on 3 acres adjacent to the Greenville News building at the intersection of South Main and Broad streets. The developers broke ground on Phase II in January on Falls Tower office building within Camperdown Square. In May, coworking firm Spaces signed a 28,900-square-foot lease within Falls Tower. At full buildout, the project will include the 17-story Falls Tower, a 609-space parking garage, a 194-room AC Marriott hotel, 113,475 square feet of retail space and a 217-unit multifamily building. Brett Forman of Trez Forman originated the loan on behalf of the borrower.

November 11, 2019

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