DETROIT — SunTrust Banks Inc. has provided a $64.1 million loan for the refinancing of a three-property manufactured housing community located north of Detroit. The portfolio includes a total of 1,403 manufactured home sites. Two of the properties were built in the early 1970s and the other was constructed in 1989. Chris San Jose of Yale Realty & Capital Advisors arranged the loan on behalf of the local borrower. The fixed-rate loan features a 10-year term.
PITTSTON, PA. — HJ Sims has arranged $17.5 million in financing for United Methodist Homes. The funds will finance an expansion project at the organization’s Wesley Village continuing care retirement community in Pittston, located between Scranton and Wilkes-Barre in Central Pennsylvania. The project will add an undisclosed number of independent living units to the property, through a series of cottages named Brooks Estates. Citizens Bank provided the funds.
OMAHA, NEB. — NorthMarq Capital has secured a $17.5 million loan for the refinancing of Linden Place I & II in Omaha. The Class A office property spans 154,772 square feet and is located at 14301 FNB Parkway. Bob Chalupa arranged the 15-year loan, which features a fixed rate and a 25-year amortization schedule. A life insurance company provided the loan. The borrower was not disclosed.
SAN ANTONIO — Dougherty Mortgage has arranged a $6.7 million Fannie Mae acquisition loan for The Ridge at Bandera, a 120-unit multifamily community in San Antonio. The property features one- and two-bedroom units and amenities such as a pool, fitness center and a business center. The loan, which carries a 12-year term and 30-year amortization schedule, was arranged through a partnership with Old Capital Lending on behalf of the borrower, The Ridge at Bandera LLC.
HOUSTON — French investment bank Natixis has provided a $147.2 million floating-rate loan for the refinancing of San Felipe Plaza, a 46-story office tower located in the Galleria/Uptown area of Houston. The Class A, 980,473-square-foot property was built in 1983 and renovated in 2015. Amenities include a fitness center, multiple onsite dining options, a conference center, dry cleaner and a Starbucks. Susan Hill of HFF arranged the loan on behalf of the borrower, a subsidiary of Parkway Inc.
PHILADELPHIA — Cushman & Wakefield has arranged $13.1 million in acquisition financing for a 452,375-square-foot industrial facility in Philadelphia. Located at 11200 Roosevelt Blvd., the property is fully leased to a mix of industrial users. John Alascio, Sridhar Vankayala and Zachary Kraft of Cushman & Wakefield’s Equity Debt & Structured Finance group secured financing for the borrower, Ivy Realty, through lender Reinsurance Group of America Inc. Ivy Realty plans to make $3 million in capital improvements to the property and rebrand it as the Roosevelt Industrial Center.
COLUMBUS, OHIO — Cronheim Hotel Capital (CHC) has arranged a $14.7 million loan for the refinancing of an Embassy Suites hotel property in Columbus. A national lender provided the loan, which features a locked rate of 4.44 percent, a 10-year term and a 30-year amortization schedule. Kana Hotel Group, the borrower, acquired the 224-room property in 2015 and extensively renovated it.
CAMBRIDGE, MASS. — Fantini & Gorga has arranged a $27 million construction loan for Park 77 Apartments, a 93-unit multifamily community in the Alewife neighborhood of Cambridge. Terms of the financing were not disclosed. Located at 77 New St., the property is walking distance from the Metro Boston Transit Authority’s Alewife Station. Derek Coulombe, Tim O’Donnell and Despina Hixon of Fantini & Gorga arranged the financing for the undisclosed borrower through a large regional lender.
GRANDVILLE AND WYOMING, MICH. — Berkadia has secured $108.3 million in acquisition financing through Fannie Mae for two apartment properties in Michigan. Torchlight Investors was the borrower. The Grandville property features a mix of studio, one-, two- and three-bedroom units. Amenities include a basketball court, pet area, fitness center and walking and biking trails. The Wyoming property offers upgraded units with vaulted ceilings and walk-in closets. Amenities include a fitness center, outdoor courtyard, swimming pools, tennis courts and storage facilities. Peter Benedetto of Berkadia arranged 12-year, fixed-rate financing for both properties.
WARREN, MICH. — Q10|Lutz Financial Services has arranged a $2 million loan for the refinancing of a 34-unit multifamily property in Warren, a northern suburb of Detroit. The asset was fully occupied at the time of refinancing. Steven Siegel of Q10|Lutz arranged the non-recourse loan on behalf of the undisclosed borrower. Loan terms included 80 percent leverage, a fixed interest rate of 4.66 percent, 10-year term and 30-year amortization schedule. A Southeast-based lender provided the loan.