Loans

KeyBank Provides $20M Refinancing for Multifamily Community in Connecticut

by David Cohen July 27, 2018

WINDSOR, CONN. — KeyBank Real Estate Capital has provided a $20 million Freddie Mac, first mortgage loan for Windsor Station, a 130-unit multifamily community in Windsor. Built in 2017, the property sits on 6.5 acres and comprises two four-story buildings. Tom Peloquin of KeyBank arranged the non-recourse, fixed-rate financing with a 12-year term, six years of interest-only payments and a 30-year amortization schedule. The loan will be used to refinance existing debt. The lender was undisclosed. Lexington Partners LLC and LAZ Investments developed Windsor Station.

July 27, 2018

Loans Multifamily Texas

LMI Capital Arranges $16M in Financing for Five Metro Houston Apartment Properties

by Taylor Williams July 27, 2018

HOUSTON — LMI Capital has arranged five loans totaling $16 million for five multifamily properties located throughout the Houston area. The undisclosed properties total 390 units and are located in south Houston, Pasadena, Brazoria County and the Fondren submarket on the southwest side of town. Brandon Brown, Jamie Mullin and Jamie Safier of LMI Capital placed the loans on behalf of undisclosed borrowers.

July 27, 2018

Colorado Loans Mixed-Use Multifamily Retail Western

HFF Arranges $118.5M Refinancing for Mixed-Use Property in Aurora, Colorado

by Amy Works July 27, 2018

AURORA, COLO. — HFF has arranged $118.5 million in financing for The Forum Fitzsimons, a mixed-use residential and retail property located in Aurora, a suburb of Denver. The borrower is a joint venture between Catalina Development Co., The Pollin Group and Sightway Capital. Chris McColpin and Josh Simon of HFF arranged the five-year, floating-rate loan through a specialty finance company. Loan proceeds were used to replace the existing construction financing, which HFF arranged on behalf of the development team in 2015. Located at 13650 E. Colfax Ave., the four-story property features 397 apartments and 28,640 square feet of ground-floor retail space. Additionally, the property offers more than 15,000 square feet of amenities, including two resort-style pools and spas with outdoor fireplaces and grills; clubrooms with a theater and game room; a fitness facility with specialized yoga and cycling rooms; an internet café and business center; a dog washing facility and two bark parks; a bike shop; storage facilities; and a six-story gated parking structure.

July 27, 2018

Georgia Loans Multifamily Southeast

Bancorp Bank Provides $7.8M Acquisition Loan for Two Apartment Communities in Southeast Georgia

by Camren Skelton July 27, 2018

KINGSLAND AND ST. MARY’S, GA. — The Bancorp Bank has provided a $7.8 million loan for the acquisition of two apartment communities in Southeast Georgia: Willow Way Apartments in Kingsland and Hickory Plantation in St. Mary’s. Both communities are located near the Georgia-Florida state line, roughly 35 miles north of Jacksonville. Judah Aderet of Eastern Union arranged the three-year, floating-rate loan with Bancorp’s Jonathan Kohan on behalf of the buyer, Wicamia Creek Investments. Greg Braciak of Bancorp underwrote the transaction. Bancorp Bank funded up to 80 percent of the acquisition costs plus 100 percent of the renovation costs. Willow Way Apartments features 60 units with a mix of one- and two-bedroom floor plans, and Hickory Plantation features 100 units with a mix of one- to three-bedroom floor plans.

July 27, 2018

Loans Multifamily New York Northeast

Mission Capital Secures $21M Acquisition, Construction Loan for Condo Conversion in Chelsea

by David Cohen July 26, 2018

NEW YORK CITY — Mission Capital Advisors has secured $21 million in non-recourse acquisition and construction financing for a luxury, six-unit condo conversion in the Chelsea neighborhood of Manhattan. Located at 214-216 W. 15th St., the property is a former nursery school. Once completed, the residences will feature 10-foot ceilings, private balconies, and modern kitchens. Raymond Salameh, Ari Hirt, Steven Buchwald, and Lexington Henn of Mission Capital represented developer Holliswood Development in securing financing from a Philadelphia-based debt fund. Terms of the financing were not disclosed.

July 26, 2018

Hospitality Loans Michigan Midwest

Berkadia Arranges $87M Bridge Loan for Recapitalization of Hotel in Detroit

by Kristin Harlow July 26, 2018

DETROIT — Berkadia has arranged an $87 million bridge loan for the recapitalization of The Westin Book Cadillac in downtown Detroit. The full-service hotel includes amenities such as a business services center, indoor pool, fitness center and spa. The sponsor is Cleveland-based Ferchill Group, which redeveloped the property in 2006. Apollo Commercial Real Estate Finance Inc. provided the loan.

July 26, 2018

Loans Maryland Multifamily Southeast

M&T Realty Capital Provides $62.5M Freddie Mac Loan for New Multifamily Property Near Baltimore

by Camren Skelton July 26, 2018

JESSUP, MD. — M&T Realty Capital Corp., a wholly owned subsidiary of M&T Bank, has provided a $62.5 million Freddie Mac loan for the permanent financing of The Elms at Shannon’s Glen, a 364-unit multifamily community in Jessup, roughly 15 miles southwest of Baltimore. Matthew Hodson and Debra Goldstein of M&T Realty Capital structured the 12-year loan with eight years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, Elm Street Development. The McLean, Va.-based company developed the community in 2016. M&T Bank provided construction financing for the project. The Elms at Shannon’s Glen includes a mix of one- to three-bedroom units with granite countertops, Energy Star appliances and private patios or balconies. Community amenities include a resort-style pool, fire pit, bocce ball court, fitness center, yoga room, dog park and a community garden.

July 26, 2018

Florida Loans Office Southeast

CGI Merchant Group Receives $40.8M Refinancing of Four Office Buildings in South Florida

by Camren Skelton July 26, 2018

MIAMI — Miami-based CGI Merchant Group LLC has received $40.8 million in loans from Starwood Mortgage Capital LLC to refinance an office building in Coral Gables and three office properties in Palm Beach and Martin counties. According to its website, Starwood provided a $25 million loan for 55 Miracle Mile, a four-story, 65,242-square-foot office building in Coral Gables. The property was built in 2004 and is 96 percent leased to 19 tenants. Starwood also provided a $15.8 million loan to refinance The Nexus Portfolio, a three-building suburban office portfolio totaling 128,563 square feet in Lake Worth, West Palm Beach and Stuart. The portfolio operates as executive suites and is 93 percent leased to 350 tenants. CGI originally acquired the assets in 2013.

July 26, 2018

California Industrial Loans Office Western

Phase 3 Real Estate Receives $149M Refinancing for Genesis Campus Point in San Diego

by Amy Works July 26, 2018

SAN DIEGO — Phase 3 Real Estate Partners has received a $149 million refinancing for Genesis Campus Point, a life science campus in the University Town Center (UTC) submarket of San Diego. Located at 4224 and 4242 Campus Point Court and 10210 Campus Point Drive, the three-building campus features 314,135 square feet of state-of-the-art life science space. Additionally, the campus includes an underground parking facility; an amenity building featuring a fitness center with lap pool, yoga studio, spin studio and showers/lockers; an on-site restaurant; and conference centers. Current tenants include Poseida Therapeutics, MabPlex USA, Heron Therapeutics, Celgene, Tocagen, BioLabs San Diego LLC and AveXis Inc. Tim Wright, Todd Sugimoto and Olga Walsh of HFF arranged the financing for the borrower.

July 26, 2018

Running-Brook-Apartments-Arlington-Texas

Loans Multifamily Texas

Dougherty Arranges $14.6M Acquisition Loan for Arlington Apartments

by Taylor Williams July 26, 2018

ARLINGTON, TEXAS — Dougherty Mortgage has arranged a $14.6 million Fannie Mae loan for the acquisition of Running Brook Apartments, a 232-unit market-rate multifamily community in Arlington. The 12-year loan, which features a 30-year amortization schedule, was arranged through a partnership with Old Capital Lending. The borrower was RBA202 LLC.

July 26, 2018

Newer Posts

Older Posts