SAN MATEO, CALIF. — HFF has arranged $132.9 million in refinancing for a three-property apartment portfolio located within Bay Meadows, a master-planned community in San Mateo. The borrower, an affiliate of Stockbridge Capital Group, used the loan proceeds to retire existing construction financing. Totaling 336 units, the portfolio includes the 108-unit Field House located at 282 Pony Lane; the 158-unit The Russell located at 3098 Kyne St. West; and the 70-unit Quimby located at 3068 Kyne St. West. The portfolio also features 9,960 square feet of ground-floor retail space leased to Blue Bottle, Tin Pot Creamery and Roam Burger. Bruce Ganong, Chris Gandy and Bercut Smith of HFF arranged the fixed-rate loan through TH Real Estate.
DETROIT — Love Funding has secured a $7 million HUD 223(f) loan for the refinancing of Central Towers Apartments in Detroit. The affordable seniors housing property features 232 units within two buildings. David Strachan and Bruce Gerhart of Love Funding secured the 35-year loan. Financing proceeds will be used to pay off current debt, complete repairs and fund the reserve account.
KANSAS CITY, MO. — Hunt Mortgage Group has provided a $5 million Freddie Mac small balance loan for the acquisition of Holly Ridge Townhomes in Kansas City. The 54-unit apartment property consists of 27 three-story townhome buildings. Built in 2007, the property is currently 94 percent occupied. The 10-year loan features a 30-year amortization schedule. PI Holly Ridge LLC was the borrower.
NEW YORK CITY — Madison Realty Capital and an investment fund managed by an affiliate of Apollo Global Management LLC have provided a $155 million loan to Sumaida + Khurana and LENY Equities for the construction of a 35-story condominium in the Hudson West neighborhood of Manhattan. Located at 611 West 56th St., the building will feature 83 units as well as a landscaped roof garden and sundeck. The building, which was designed by Pritzker Prize-winning Portuguese architect Alvaro Siza, is being co-developed by Sumaida + Khurana and LENY Equities. Carl Schwartz and Susan Saslow of Hunton Andrews Kurth LLP provided legal representation for the joint venture. Adi Chugh of Maverick Capital Partners arranged the financing.
CHARLOTTE, N.C. — Arbor Realty Trust Inc. has provided a $14.1 million loan through Fannie Mae’s Green Rewards program for the acquisition of Crown Point Townhomes in Charlotte. Alexander Kaushansky of Arbor originated the 10-year, fixed-rate loan with three years of interest-only payments on behalf of the borrower, Friedlam Partners LLC. The property was constructed in 1972 and features two-bedroom, garden-style apartment units. Community amenities include exterior storage, a swimming pool, picnic area and private patios. Planned renovations include upgrades to the unit interiors, landscaping, leasing office and pool, as well as the addition of a playground and dog park.
ALPHARETTA, GA. — Hall Structured Finance (HSF) has provided a $14.6 million construction loan for the 132-room EVEN Hotel in Alpharetta, roughly 26 miles north of Atlanta. Tanya Little and Jessica Reyes of Hart Capital Partners arranged the loan on behalf of the borrower and project developer, Epelboim Development Group LLC. Atlanta-based InterContinental Hotels Group (IHG) is Epelboim’s joint venture partner and will manage the hotel upon completion. EVEN Hotels, the newest brand from IHG, emphasizes “eating well, resting easy, keeping active and accomplishing more.” The Alpharetta hotel will be the wellness-focused brand’s first location in Georgia, and will be situated across the street from $600 million Avalon mixed-use development. In addition, the hotel will be located in close proximity to IHG’s U.S. headquarters in Atlanta’s Central Perimeter district.
MERRIMACK, N.H. — CBRE has secured $17.5 million in acquisition financing on behalf of Calare Properties for 57-59 Daniel Webster Highway, a two-building industrial property in Merrimack. The two warehouses total 511,000 square feet. Kyle Juszczyszyn and Matthew Machiros of CBRE secured the financing from Harbor One Bank. Calare Properties is a real estate manager and operator. The tenant roster at the property currently includes Law Logistics, Nanocomp Technologies, Raymer’s Express and XPO Logistics.
MORRISTOWN, N.J. — NorthMarq Capital has arranged a $30 million loan to refinance the DeMattheis Multifamily Portfolio, which includes eight apartment properties in New Jersey. Four properties are located in Morristown with the other four located in Highland Park, Woodbridge and Edison. In total, the portfolio includes 307 units. The borrower is a full-service real estate investment company. Gary Cohen of NorthMarq arranged the refinancing, which was structured with a 15-year term and a 30-year amortization schedule. The lender was a national life insurance company.
CHARLOTTE, N.C. — Alliant Credit Union has provided a $6.4 million loan for the refinancing of an industrial building located at 8825 Statesville Road in Charlotte. Alliant closed the 10-year loan with five years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, RU 8825 Statesville Road Charlotte NC LLC. The 64,637-square-foot building serves as a research and development facility for Husqvarna North America, a producer of outdoor power equipment. The property is located adjacent to Husqvarna’s U.S. headquarters.
SAN MARCOS, TEXAS — Chicago-based Alliant Credit Union has closed an $8 million loan for the cash-out refinancing of Treehouse Apartments, a 138-unit student housing community serving Texas State University in San Marcos. The property is located within a mile of campus and features amenities such as a pool, picnic area, coffee bar and on-site laundry facilities. The loan features a 25-year amortization schedule and three years of interest-only payments. The borrower was not disclosed.