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LoansMultifamilyNew YorkNortheast

Avison Young Arranges $31.5M Refinancing for Apartment Community in White Plains

by David Cohen

WHITE PLAINS, N.Y. — Avison Young  has arranged a $31.5 million refinancing for The Metro, a 124-unit apartment community in White Plains. The 12-story property is located in downtown White Plains at 34 S. Lexington Ave. David Krasnoff and Ryan Flannery of Avison Young arranged the financing package on behalf of the owner, Ginsburg Development Cos., a private real estate developer. The lender was undisclosed. Ginsburg recently acquired two buildings on the same block as The Metro and is currently redeveloping the area into a new project called City Square, which will include retail, office and residential space.

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LoansNew JerseyNortheastOffice

G.S. Wilcox & Co. Secures $7.2M Refinancing for Office Building in New Jersey

by David Cohen

BLOOMFIELD, N.J. — G.S. Wilcox & Co. has secured $7.2 million in refinancing for a 76,192-square-foot office building in Bloomfield. The seven-story property is located in the central business district of Bloomfield. Gretchen Wilcox, David Fryer and Wesley Wilcox of G.S. Wilcox & Co. arranged a 10-year term and 25-year amortization through Securian Financial for an undisclosed borrower.

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LoansOfficeTexas

Pioneer Arranges $3.2M Refinancing of Austin Office Building

by Taylor Williams

AUSTIN, TEXAS — Texas-based mortgage intermediary Pioneer Realty Capital LLC has arranged a $3.2 million loan for the refinancing of Summit Point, an office building in Austin. The property, which is located a few miles south of the downtown area, was 100 percent leased at the time of the loan closing. An international investment banking firm provided the loan on behalf of undisclosed sponsors.

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EastViewApts-LA-CA
CaliforniaLoansMultifamilyWestern

Lion Real Estate Receives $35M in Financing for Newly Completed Apartment Building in Los Angeles

by Amy Works

LOS ANGELES — Lion Real Estate Group has received $35 million in financing for EastView Apartments, a newly constructed Class A multifamily property located at 327 N. Boylston St. near downtown Los Angeles. Marc Schillinger and Peter Berges of HFF arranged the 12-year, fixed-rate loan with an insurance company for the borrower. The property features 121 units in a mix of studio, one- and two-bedroom layouts, ranging from 555 square feet to 1,267 square feet. On-site amenities include a fifth-floor sky deck with fire pit, grills and dining tables; co-working lounge with refreshment bar and large-screen television; swimming pool with hot tub and lounge; fitness center; secured parking; bike share program; and electric car charging stations.

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CaliforniaLoansMultifamilySeniors HousingWestern

Lancaster Pollard Arranges $400M Refinancing for Plum Healthcare Skilled Nursing Portfolio in California

by Amy Works

SAN MARCOS, CALIF. — Lancaster Pollard has arranged $400 million in financing for Plum Healthcare Group, a San Marcos-based skilled nursing operator. The bridge-to-HUD loan refinances Plum’s previous corporate term loan credit facility on a portfolio of 27 skilled nursing facilities throughout California. “Redesigning our capital structure for the emerging market is a key tenet of our strategic plan, which is focused on further enhancing our industry-leading clinical and patient outcomes, and aligning our business to capitalize on developing long-term growth opportunities in the healthcare space,” says Naveed Hakim, chief financial officer of Plum Healthcare Group. The Lancaster Pollard team of Grant Goodman, Jason Dopoulos, Joe Munhall and Elliot Kaple served as the syndication agent on the transaction. Credit Suisse served as the lender. “Completing this refinancing with Lancaster Pollard and Credit Suisse accomplishes a key step towards creating a unique, sustainable capital structure that will give us the flexibility and enhanced capital output to execute on our vision,” adds Hakim.

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LoansMassachusettsNortheastRetail

Fantini & Gorga Secures $10.2M Financing for Two Retail Properties Near Boston

by David Cohen

LEXINGTON AND WALTHAM, MASS. — Fantini & Gorga has secured $10.2 million in permanent financing for two retail properties in Lexington and Waltham. The Lexington property was built in 2010 and is located at 46 Bedford St. It features 6,698 square feet of retail space, which is fully leased to a tenant roster including Qdoba and People’s United Bank. The property in Waltham was built in 2013 and is located at 1019 Trapelo Road. It features 9,442 square feet of retail space with a tenant roster that includes Starbucks and PhysiciansOne Urgent Care. Fantini & Gorga arranged the long-term, fixed-rate loan for a local real estate investor and developer through a regional financial institution.

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IllinoisLoansMidwestOffice

Ready Capital Provides $7.9M Refinancing for Office Property in Chicago

by Kristin Harlow

CHICAGO — Ready Capital Structured Finance has provided a $7.9 million loan for the refinancing of a 38,000-square-foot office property in Chicago. The building, located on West Carroll Avenue in the Fulton Market neighborhood, was repositioned from an industrial warehouse into an office property. The non-recourse, floating-rate loan features a 36-month term. The borrower was not disclosed.

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Marriott-Uptown-Dallas
HospitalityLoansTexas

CBRE Arranges $61M Construction Loan for Marriott Hotel in Dallas

by Taylor Williams

DALLAS — CBRE has arranged a $61 million construction loan for the Marriott Uptown, a 255-room hotel being developed at the intersection of Carlisle and Fairmount streets in Dallas. The hotel is slated to open in May 2020 and will feature a pool, fitness center and 12,980 square feet of meeting space. Jay Wagley, John Fenoglio, Matthew Miller, Marc Sallette and Olga Lepow of CBRE arranged the financing through IBC Bank on behalf of the developer, Dallas-based Alamo Manhattan.

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IllinoisLoansMidwestMultifamily

Citizens Bank Provides $20.9M Construction Loan for Apartment Property in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Citizens Bank has provided a $20.9 million loan for the construction of 42 luxury apartments at Norweta Row in Chicago’s Lincoln Park neighborhood. The development also includes 31 for-sale condominium units that will share amenities with the apartments, but were not part of the collateral for this loan. The apartment phase of the project is due for completion in spring 2019 and will encompass 79,000 square feet. Community amenities will include a pool, fire pit, outdoor grilling area, sport court and dog wash station. Christopher Knight and Greg LaBine of HFF arranged the loan on behalf of the borrower, Broder.

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LoansMidwestMultifamilyOhio

SunTrust Arranges $20.3M Fannie Mae Refinancing of Multifamily Property in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — SunTrust Banks Inc. has arranged a $20.3 million Fannie Mae loan for the refinancing of a 300-unit multifamily property in Dayton. Built in 1988, the Class B property is located 11 miles southwest of Dayton’s central business district. Joe Markech of SunTrust originated the 12-year loan, which features a 30-year amortization schedule. Markech sourced the transaction through Michael Dury of PR Mortgage & Investments.

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