Loans

Berkadia Arranges $20.4M Refinancing for Five-Property Apartment Portfolio in South Florida

by Camren Skelton May 29, 2018

MIAMI BEACH AND BAY HARBOR ISLANDS, FLA. — Berkadia has arranged a $20.4 million bridge loan for the refinancing of five apartment communities located in South Florida’s Miami Beach and Bay Harbor Island. Charles Foschini, Christopher Apone and Shannon Wilson of Berkadia arranged the two-year, floating-rate loan through LoanCore Capital Funding Corp. LLC on behalf of the borrower, Boardwalk Properties. The properties included in the 108-unit portfolio are: 1600 and 1606 W. Ave. in Miami Beach; 9200, 9270, 10150 and 10190 E. Bay Harbor Drive in Bay Harbor Islands, and 1075 101st St., also in Bay Harbor Islands.

May 29, 2018

Kentucky Loans Office Southeast

FM Capital Originates $10M Acquisition Loan for Office Building in Florence, Kentucky

by Camren Skelton May 29, 2018

FLORENCE, KY. — An affiliate of FM Capital LLC has originated a $10 million acquisition loan for Turfway Ridge Office Park, a 217,000-square-foot office building in Florence, located roughly six miles from Cincinnati/Northern Kentucky International Airport, home to Amazon’s $1.5 billion Prime Air cargo hub. The borrower, a Los Angeles-based real estate investor, acquired the asset from a special servicer via an auction process. Other terms of the bridge financing were not disclosed. The five-story Turfway Ridge Office Park was originally constructed in 1988 and renovated in 2006. The building was 81 percent leased at the time of sale to tenants such as ADP, Central Bank and the U.S. Department of Veterans Affairs.

May 29, 2018

California Loans Multifamily Western

Hunt Mortgage Arranges $16.9M in Financing for Three-Property Multifamily Portfolio in Bakersfield

by Amy Works May 29, 2018

BAKERSFIELD, CALIF. — Hunt Mortgage Group has provided two Freddie Mac Small Balance Loans and a Fannie Mae Conventional Green mortgage to refinance a multifamily portfolio in Bakersfield. The loans totaled $16.9 million. The transactions include: A $6 million Freddie Mac Small Balance Loan for the refinance of Village Lane Apartments, a 200-unit property at 5101 Marsha St. The community features 33 one- and two-story buildings with 79 one-bedroom units, 120 two-bedroom units and one three-bedroom unit. A $1.9 million Freddie Mac Small Balance Loan for the refinance of River Oaks Apartments, a 46-unit multifamily property located at 336 Roberts Lane and 314 and 400 Locust St. The property includes 15 one- and two-story buildings consisting of all two-bedroom units. A $9 million Fannie Mae Conventional Green mortgage for the refinancing of Park Village Apartments, located at 1405 White Lane. Built in 1973, the property features 224 apartments and 371 open parking spaces. The two Freddie Mac loans feature a 10-year term and fixed rate with no interest-only period and a 30-year amortization schedule. The conventional mortgage features a 12-year term with a 30-year amortization.

May 29, 2018

Connecticut Loans Multifamily Northeast Seniors Housing

CA Ventures Secures Construction Financing for Two Senior Living Communities Near Hartford

by David Cohen May 25, 2018

FARMINGTON, SIMSBURY, CONN. — CBRE has arranged an undisclosed amount of financing for a joint venture between CA Ventures and a global investment manager. The funds will be used for the construction of two seniors housing communities in the Hartford area. Farmington Senior Living in Farmington and Simsbury Senior Living in Simsbury will each offer 80 assisted living units and 40 memory care units. Integral Senior Living will operate the two properties under a third-party management contract. Aron Will of CBRE National Senior Housing arranged the five-year, floating-rate loans with 42 months of interest-only payments. A regional bank provided the two identical loans.

May 25, 2018

Florida Loans Multifamily Property Type Southeast

Meridian Capital Secures $66M Acquisition Financing for Multifamily Portfolio in Florida

by John Nelson May 25, 2018

TAMPA, FLA. — Meridian Capital Group has arranged $66 million in acquisition financing for a six-property multifamily portfolio located throughout Florida. Tampa-based Blue Roc Premier acquired the assets, which total 1,101 units and are located in Atlantic Beach, Jacksonville, Orange Park Ormond Beach, DeLand and Brandon. Community amenities across the portfolio include sports courts and swimming pools. Seth Grossman and Sarah Keubler of Meridian’s Solana Beach office arranged the seven-year Freddie Mac loans through Capital One Multifamily Finance on behalf of Blue Roc. Each of the properties were financed separately, and all of the loans featured floating interest rates and two years of interest-only payments. The new ownership plans to invest $10 million to renovate and upgrade the portfolio.

May 25, 2018

Healthcare Loans Property Type Southeast Virginia

Ready Capital Provides $5.6M Acquisition Loan for Medical Office Building in Richmond

by John Nelson May 25, 2018

RICHMOND, VA. — Ready Capital Structured Finance has provided a $5.6 million acquisition loan for an approximately 40,000-square-foot medical office facility located at 7301 Forest Ave. in Richmond’s West End. The undisclosed borrower will use proceeds from the floating-rate loan to renovate and lease up the asset. The interest-only, non-recourse loan features a 36-month term with two extension options. The medical office building is situated less than a mile from Henrico Doctors’ Hospital, a 340-bed community hospital operated by HCA Virginia.

May 25, 2018

Loans Office Texas

Meridian Arranges $7.5M Acquisition Loan for Office Building in Houston’s Westchase District

by Taylor Williams May 25, 2018

HOUSTON — New York-based Meridian Capital Group has arranged a $7.5 million loan for the acquisition of 5800 North Course, a 75,000-square-foot office building located in the Westchase area of Houston. The property includes 2,500 square feet of food service space and roughly 600 parking spaces. The building has been fully leased to financial services firm Alltran since it was constructed in 2001. Shaya Ackerman and Shaya Sonnenschein of Meridian Capital arranged the loan on behalf of Windmill Investments, a firm specializing in value-add projects.

May 25, 2018

Loans Multifamily Texas

Dougherty Provides $3.9M Fannie Mae Green Loan for Apartment Complex in Fort Worth

by Taylor Williams May 25, 2018

FORT WORTH, TEXAS — Dougherty Mortgage LLC has provided a $3.9 million Fannie Mae loan for the acquisition of Willow Manor Apartments, a 71-unit multifamily community in Fort Worth. Built in 1965, the property includes studio, one-, two- and three-bedroom units and amenities such as a pool and on-site laundry facilities. The 12-year loan, which utilized the Fannie Mae Green Rewards program and has a 30-year amortization schedule, was arranged on behalf of Colosseus Property Group III LLC.

May 25, 2018

Indiana Loans Midwest Multifamily Seniors Housing

Walker & Dunlop Arranges $17.3M Construction Loan for Assisted Living Facility in Indianapolis

by Kristin Harlow May 24, 2018

INDIANAPOLIS — Walker & Dunlop Inc. has arranged a $17.3 million loan for the construction of Oasis at 56th in Indianapolis. The 124-unit affordable assisted living facility will be located on three acres at 4940 W. 56th St. The property will feature 73 one-bedroom units and 51 studios. Amenities will include a dining area, exercise room, café and laundry facilities. Jeff Lawrence and Matt Baptiste of Walker & Dunlop arranged the 40-year HUD loan on behalf of the borrower, Integral Community Development.

May 24, 2018

Loans Midwest Multifamily Ohio

Hunt Mortgage Provides $9.7M Acquisition Loan for Multifamily Property in Toledo, Ohio

by Kristin Harlow May 24, 2018

TOLEDO, OHIO — Hunt Mortgage Group has provided a $9.7 million Freddie Mac loan for the acquisition of Jamestown of Toledo Apartments. Constructed in 1965, the 204-unit multifamily property comprises 19 buildings. The property features a mix of one-, two- and three-bedroom units. Jamestown Apartments 17 LLC, an entity fully owned by Watermark Partners Fund IV LLC, was the borrower. Watermark is a Michigan-based firm that owns and operates multifamily properties throughout the Midwest.

May 24, 2018

Newer Posts

Older Posts