Loans

EagleBridge Capital Provides $6.4M in Financing for CVS-Anchored Shopping Center in Rhode Island

by David Cohen March 28, 2018

TIVERTON, R.I. — EagleBridge Capital has provided $6.4 million in financing for CVS Plaza in Tiverton, a shopping center anchored by a freestanding 13,500-square-foot CVS Pharmacy. Other tenants in the shopping center located at 500 Main Road include The Saconnet River Grille and an Allstate insurance agency. The term of the loan is 10 years with a 30 year amortization. Ted M. Sidel and Brian D. Sheehan of EagleBridge Capital arranged the financing provided by a CMBS lender. The law firm of DarrowEverett represented the undisclosed borrower in closing the loan.

March 28, 2018

Loans Midwest Missouri Office

CBRE Arranges $8.7M Refinancing for Coworking Office Building in Kansas City

by Kristin Harlow March 28, 2018

KANSAS CITY, MO. — CBRE has arranged an $8.7 million loan for the refinancing of Westport Commons in Kansas City. The borrower, Sustainable Development Partners of Kansas City, purchased the abandoned former school and converted it into a coworking office property. The project, completed in mid-2017, is now fully leased. John Perlik and Don Coleman of CBRE | Capstone arranged the permanent fixed-rate loan, which features a 20-year amortization schedule.

March 28, 2018

Florida Loans Property Type Retail Southeast

Aztec Arranges $80.5M Construction Loan for Walmart, Home Depot-Anchored Project in Northeast Florida

by Camren Skelton March 28, 2018

ST. JOHNS, FLA. — Aztec Group Inc. has arranged an $80.5 million construction loan for The Pavilion at Durbin Park, an 80-acre retail project in St. Johns, roughly 25 miles south of Jacksonville. Jason Shapiro and Sean Harrington of Aztec Group arranged the three-year, floating-rate loan through City National Bank of Florida on behalf of the project developer, Gatlin Development Co. The Pavilion is the first phase of Durbin Park, a 1,700-acre mixed-use development that will eventually include more than 2 million square feet of retail, 2 million square feet of office space, multifamily units and a hotel. Walmart and The Home Depot will anchor the 600,000-square-foot first phase of the project. In addition, The Pavilion will include 200,000 square feet of space for junior anchors, as well as approximately 90,000 square feet for local retail and restaurant concepts. Walmart is scheduled to open in November, and Home Depot is scheduled to open in spring 2019. The remaining portion of The Pavilion is slated for completion in summer 2019.

March 28, 2018

Florida Loans Multifamily Property Type Southeast

Hunt Provides $14.4M in Freddie Mac Financing for Multifamily Portfolio in Palm Beach County

by Camren Skelton March 28, 2018

NEW YORK CITY — New York-based Hunt Mortgage Group has provided $14.4 million in Freddie Mac financing for the acquisition of three multifamily properties in Palm Beach County. New Jersey-based-Typhon Realty Limited LLC was the borrower. Hunt provided a $4.1 million loan for the acquisition of Villas Santorini. The 28-unit community is located in Lake Worth and is part of a larger 34-unit condominium complex. Typhon plans to buy the remaining six units over the next 12 months. The current 28 units are operated as a rental apartment community. The property was built in 2007 and features a clubhouse, swimming pool, sundeck and a playground. Hunt also provided a $4.8 million loan for Whispering Winds Townhomes, a 32-unit community located in Greenacres. The property features a clubhouse, swimming pool and a playground. In Palm Springs, Hunt provided a $5.5 million loan for the acquisition of Charles Landing Townhomes, a 40-unit community that features garage parking and a children’s play area. Each of the five-year loans featured one year of interest-only payments and 30-year amortization schedules.

March 28, 2018

Illinois Industrial Loans Midwest

PGIM Real Estate Finance, NYSTRS Provide $1.1B in Acquisition Financing for Industrial Portfolio

by Kristin Harlow March 27, 2018

CHICAGO — PGIM Real Estate Finance and the New York State Teachers’ Retirement System (NYSTRS) have provided $1.1 billion in financing for the acquisition of a 146-property industrial portfolio. Each entity provided $550 million. The portfolio comprises more than 21.7 million square feet with the largest concentrations of properties in Chicago, Dallas, Baltimore-Washington, D.C. and southern California. The properties are home to 327 tenants, including Amazon, FedEx, The Home Depot and Coca-Cola. On average, the buildings are 20 years old and have a clear height of 27 feet.

March 27, 2018

Florida Georgia Industrial Loans Mississippi Southeast

Cushman & Wakefield Secures $108.6M Refinancing for 2.2 MSF Industrial Portfolio Across U.S.

by Camren Skelton March 27, 2018

ATLANTA — The Atlanta office of Cushman & Wakefield has secured the $108.6 million refinancing of a 2.2 million-square-foot, eight-property industrial portfolio located across the United States. Mike Ryan, Brian Linnihan and Richard Henry of Cushman & Wakefield arranged the floating-rate loan on behalf of the borrower, Industrial Properties America III LLC, a joint venture between IDI Logistics and institutional investors advised by J.P. Morgan Asset Management. The portfolio includes 2124 Skyview Drive in Lithia Springs, Ga.; 11600 Miramar Parkway in Miramar, Fla.; 2501 S.W. 160th Ave. in Miramar; and 8425 Airways Blvd. in Southhaven, Miss. The other properties are located in Illinois, Ohio, Texas and California. At the time of sale, the portfolio was fully leased to 23 tenants.

March 27, 2018

Loans Multifamily Washington Western

Newmark Arranges $25.5M in Financing for Apartment Building in Seattle

by Amy Works March 27, 2018

SEATTLE — Newmark has secured $25.5 million in financing for 1111 East Olive Apartments in Seattle. Meriwether Partners developed the property for the longtime land owners. The property features 80 apartments above ground-floor retail space, which will be occupied by a coffee shop and Richard Hugo House, a non-profit center for supporting writers. Residential amenities include a rooftop deck, conference room, gym, secured bicycle storage and parking for 69 vehicles. Michael Taylor and Patrick Taylor of Newmark’s Seattle office arranged the 15-year term financing through Aegon Real Assets US. The loan will be used to refinance the construction loan.

March 27, 2018

Acquisitions California Industrial Loans Property Type Western

MetroGroup Provides $21.9M in Acquisition Financing for R&D/Flex Campus in San Diego

by Amy Works March 27, 2018

SAN DIEGO, CALIF. — MetroGroup Realty Finance has provided $21.9 million permanent acquisition financing for a R&D/flex corporate campus located at 10307 and 10309 Pacific Center Court in San Diego. The seven-year loan features a 30-year amortization, fixed interest rest and a loan-to-purchase-price ratio of 69 percent. Colony Northstar sold the property to a Newport Beach, Calif.-based private investor for an undisclosed price. Quantum Design International, a global scientific instrumentation manufacturer and distributor, occupies the 103,830-square-foot property. Michael Hartel of Colliers International represented the buyer in the acquisition transaction.

March 27, 2018

Industrial Loans Midwest Missouri Self-Storage

ASC Arranges $3M Refinancing of Self-Storage Portfolio in Branson, Missouri

by Kristin Harlow March 27, 2018

BRANSON, MO. — American Street Capital (ASC) has arranged a $3 million CMBS loan for the refinancing of a self-storage portfolio in Branson. The portfolio includes five facilities and 694 units spanning 127,449 square feet. The portfolio was over 95 percent occupied at the time of the loan closing. Igor Zhizhin of ASC arranged the 10-year loan, which features a 30-year amortization schedule.

March 27, 2018

Illinois Industrial Loans Midwest

HFF Arranges $159.2M Recapitalization of Industrial Portfolio Located Primarily in the Midwest

by Kristin Harlow March 26, 2018

CHICAGO — HFF has arranged a $159.2 million recapitalization of an 11-property industrial portfolio totaling 2.8 million square feet in Georgia, Illinois, Michigan, Minnesota, Ohio, Pennsylvania and Texas. HFF represented the seller, a joint venture between Brennan Investment Group, Arch Street Capital Advisors LLC and Gatehouse Financial Group Limited, as well as the buyer, a new joint venture between Brennan Investment Group and Sidra Capital. Goldman Sachs provided a 10-year loan on behalf of the new owner. The fully leased portfolio, known as USIPA, is triple-net leased to nine tenants and features single-tenant buildings ranging from 90,000 to 578,000 square feet. Clear heights range from 17 feet to 34 feet. Claudio Sgobba, Christopher Carroll, Robin Stolberg, Kurt Sarbaugh, Matthew Schoenfeldt and Jules Sherwood of HFF made up the debt and equity placement team.

March 26, 2018

Newer Posts

Older Posts