Loans

KeyBank Provides $29.3M Bridge Loan for Multifamily Community in Northern Maryland

by Camren Skelton May 24, 2018

JOPPA, MD. — KeyBank Real Estate Capital has provided a $29.3 million bridge loan for the acquisition of The Homes at Towne Plaza, a 417-unit apartment community in Joppa, a city in Harford County. A joint venture between Blue Ocean and JCR Capital acquired the property, which was constructed in 1964. The community includes a mix of one- and two-bedroom apartments, as well as two- and three-bedroom townhomes. Community amenities include an on-site leasing center, resident services center, playgrounds and a multi-purpose sports court, all of which will be renovated.

May 24, 2018

Industrial Loans New Jersey Northeast Self-Storage

HFF Arranges $10.2M Construction Loan for Self-Storage Facility in Northern New Jersey

by David Cohen May 23, 2018

NUTLEY, N.J. —HFF has arranged $10.2 million in financing for the development of a 925-unit, CubeSmart-branded self-storage facility at 10 Kingsland St. in Nutley. The three-story, 125,000-square-foot facility will contain 765 climate-controlled and 160 non-climate-controlled units in a variety of sizes. HFF represented the developer, Tulfra Real Estate, in securing the construction loan with Bank of New Jersey. Loan proceeds will be used for acquisition costs, site improvements, construction and facility lease up.

May 23, 2018

Industrial Loans Midwest Office Ohio

KeyBank Originates $125M CMBS Loan for Refinancing of 2.7 MSF Industrial, Office Portfolio

by Kristin Harlow May 23, 2018

CLEVELAND — KeyBank Real Estate Capital has originated a $125 million CMBS loan for the refinancing of Griffin Capital Essential Asset REIT II, a four-property commercial real estate portfolio. The properties total 2.7 million square feet and include two industrial buildings and two office buildings. The properties are located in Columbus, Ohio; Chicago; Las Vegas; and Birmingham, Ala. Randy Martin of Cleveland-based KeyBank originated the 10-year loan. In addition to KeyBank’s loan, Bank of America NA provided $125 million in CMBS financing.

May 23, 2018

Illinois Loans Midwest Multifamily

Eyzenberg & Co. Arranges $28M Bridge Loan for 304-Unit Apartment Property in Suburban Chicago

by Kristin Harlow May 23, 2018

WOODRIDGE, ILL. — Eyzenberg & Co. has arranged a $28 million bridge loan for Woodland Ridge Apartments in Woodridge, a southwestern suburb of Chicago. The 304-unit apartment property, built in 1974, is located at 3421 Foxboro Drive. The financing enabled the borrower to pay off its initial acquisition loan and allocate additional funds for the continued renovation of the Class B property’s units and common areas. Clubhouse improvements include a full kitchen and game room, cyber café, grilling stations, laundry lounge and a 24-hour fitness center. David Eyzenberg, Jeff Conti and Diana Davidson of Eyzenberg arranged the loan with Hunt Mortgage Group. SSIL II LLC, a partnership comprising Auerbach Funds and Sinatra & Co. Real Estate, was the borrower.

May 23, 2018

Loans Midwest Missouri Multifamily

Arbor Provides $16M Refinancing for Manufactured Housing Community in Kansas City

by Kristin Harlow May 23, 2018

KANSAS CITY, MO. — Arbor Realty Trust Inc. has provided a $16 million Freddie Mac loan for the refinancing of Lakeview Terrace in Kansas City. The 541-unit manufactured housing community is located just north of the Missouri River. Built in 1970, the community features newly renovated mobile homes in addition to a clubhouse, basketball court, playground and two swimming pools. Jason Scott of Arbor originated the 10-year loan. The undisclosed borrower acquired the property in 2015.

May 23, 2018

Loans Multifamily Student Housing Texas

ORIX Provides $28M Construction Loan for 236-Bed Student Housing Property in Austin

by Taylor Williams May 23, 2018

AUSTIN, TEXAS — ORIX Real Estate Americas, a division of Dallas-based financial services firm ORIX Corp. USA, has provided a $28 million loan for the construction of a student housing community in Austin. The property will serve the University of Texas at Austin and total 236 beds across 66 units. Amenities will include a fitness center, rooftop deck, cyber lounge and conference rooms. Construction of the property began in April, with completion expected in time for the 2019-2020 school year. ORIX provided the loan on behalf of the undisclosed developer.

May 23, 2018

Loans Multifamily Retail Texas

LMI Capital Closes Three Acquisition Loans Totaling $24M in Houston Area

by Taylor Williams May 23, 2018

HOUSTON AND PASADENA, TEXAS — LMI Capital has closed three loans totaling roughly $24 million for the acquisitions of two multifamily complexes and one retail center in the Houston area. The undisclosed properties include a 215-unit apartment complex in northwest Houston, a 200-unit apartment property in the southeastern suburb of Pasadena and a 21,000-square-foot retail center in west Houston. Jamie Mullin, Brandon Brown and Jamie Safier of LMI Capital closed the deals for the first, second and third properties, respectively. The borrowers were not disclosed.

May 23, 2018

Loans Multifamily Texas

Newmark Arranges $22M Bridge Loan for Apartment Community in Metro Dallas

by Taylor Williams May 23, 2018

WAXAHACHIE, TEXAS — Newmark has arranged a $22 million bridge loan for Hunter’s Cove, a 192-unit multifamily community in Waxahachie, a southern suburb of Dallas. The property offers a mix of one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and outdoor kitchen area. Andy Bratt and Spencer Seibring of Newmark secured the two-year loan, which features an 80 percent loan-to-purchase-price ratio, through Greystone. The borrower was not disclosed.

May 23, 2018

Acquisitions Affordable Housing Georgia Loans Multifamily Southeast

Berkadia Negotiates $32.5M Sale, $28M Financing for Affordable Housing Community Near Atlanta

by Camren Skelton May 23, 2018

CLARKSTON, GA. — Berkadia has arranged the $32.5 million sale of Lakes at Indian Creek, a 603-unit affordable housing community in Clarkston, located roughly 18 miles northeast of Atlanta. Jeremiah Jarmin and Judy MacManus of Berkadia arranged the transaction on behalf of the seller, Alden Torch Financial. In addition, Josh Finley of Berkadia arranged a 10-year, $28 million Fannie Mae loan on behalf of the buyer, EB Real Estate Group. Lakes at Indian Creek is an affordable housing community under the Section 42 Low Income Housing Tax Credit Program. The community features a mix of one- to three-bedroom units and townhomes. Amenities include a picnic area, tennis courts, swimming pools, fitness center and a computer center.

May 23, 2018

Georgia Loans Multifamily Southeast Student Housing

HFF Secures $30.4M Refinancing for Student Housing Property Near University of Georgia

by Camren Skelton May 23, 2018

ATHENS, GA. — HFF has arranged a $30.4 million loan for the refinancing of River Club Apartments and River Club Townhomes, two student housing assets located roughly two miles from the University of Georgia (UGA) campus in Athens. The adjacent communities operate as a single property, and include a total of 1,134 beds. David Keller and Mark Sixour of HFF arranged the seven-year, floating-rate loan through Freddie Mac’s Capital Markets Execution program on behalf of the borrower, an entity managed and controlled by The Scion Group. River Club Apartments includes a mix of two- to four-bedroom units with private bathrooms, hardwood-style plank flooring and flat screen TVs. The adjacent River Club Townhomes features three- and four-bedroom floor plans within two-story townhome units. Community amenities at both properties include swimming pools; volleyball, basketball and tennis courts; fitness centers; computer labs; car wash stations; private tanning salons; and on-site bus stops with service to the UGA campus.

May 23, 2018

Newer Posts

Older Posts