NEW YORK CITY — Integra Real Estate Capital has secured a $28 million bridge loan for a two-building, mixed-use property in the Lincoln Square section of Manhattan. Located at 15 Central Park West, the property includes a 19-story building and a 36-story building with a total of 202 residential units and 80,000 square feet of retail space. Amenities include a three-lane saltwater pool, a 14,000-square-foot fitness center, outdoor garden, game room, conference rooms and a wine cellar. Arthur and William Zeckendorf developed the property in 2008. Igor Goldenberg of Integra arranged the financing for the undisclosed borrower through a New York City-based debt-fund to refinance the existing debt on the property.
POOLER, GA. — Knighthead Funding has provided an $8.5 million short-term loan for the completion of a Holiday Inn & Suites in Pooler, approximately 20 miles west of Savannah. The sponsor is a Georgia-based hotel development and management company whose assets include Hilton, Marriott and Holiday Inn flagged properties throughout the state. Upon completion in 2019, the hotel will feature 104 guest rooms, a restaurant and lounge, outdoor pool with sundeck, fitness center, business center and market pantry. The sponsor used its own capital to fund the first half of the development, and due to liquidity constraints, needed a creative source of capital to fund the remaining portion of the development.
SPRING VALLEY, N.Y. — Meridian Capital Group has arranged a $22 million loan to refinance Central Crossing, a 115,000-square-foot shopping center in Spring Valley. Located at 175 East Central Ave., the shopping center is currently 98 percent leased to a tenant roster that includes Food Fair, Planet Fitness and Popeyes. Eli Serebrowski of Meridian secured the financing for the undisclosed borrower through a balance sheet lender. The loan features 10-year term with a rate of 4.2 percent and a 30-year amortization schedule.
MARBOROUGH, MASS. — EagleBridge Capital has arranged $2.7 million in acquisition financing for The Learning Experience, a 10,000-square-foot childcare learning center in Marborough. Located at 70 Simarano Drive, the single tenant leases the property on a long-term basis. The Learning Center has more than 300 locations across the country. Brian D. Sheehan and Ted M. Sidel of EagleBridge secured financing for the undisclosed borrower through a leading Massachusetts thrift institution.
LOS ANGELES — Meridian Capital Group has secured a $16.5 million refinancing for Kingsley Drive Apartments, a multifamily property in Los Angeles. Decron Properties is the borrower. Seth Grossman and Jackie Tran of Meridian arranged the seven-year loan featuring full-term interest-only payments. A life insurance company provided the capital. Located at 737 S. Kingsley Drive in Los Angeles’ Koreatown neighborhood, the five-story complex consists of 83 one- and two-bedroom apartments. Originally built in 1988, a portion of the apartments were renovated in 2016 and 2017 and feature quartz countertops, stainless steel appliances, wine coolers, tile flooring and updated fixtures. Community amenities include a pool, spa, fitness center, putting green and driving range.
DENVER — Knighthead Funding has originated a $10 million non-recourse loan for the construction of The Condor, a 28-unit townhome development in Denver’s Berkeley neighborhood. First Stone Development is the borrower. Located at 4469 Tennyson St., the three-level townhomes will range in size from 1,100 square feet to 1,800 square feet and will include an attached single-car garage and rooftop deck. This is the second loan Knighthead has funded for the borrower.
SKOKIE, ILL. — Meridian Capital Group has arranged a $6.3 million loan for the refinancing of Fairway Executive Building, a 64,000-square-foot office building in Skokie. Located at 8707 Skokie Blvd., the Class A property rises four stories. Features include an indoor parking garage, a redesigned lobby and a conference room. Weiss Properties purchased the asset as a distressed property in 2010 and invested significant funds to remodel and re-tenant the property. Gershon Friedman of Meridian arranged the 10-year CMBS loan, which features a 4.84 percent rate.
WAXAHACHIE, TEXAS — Greystone has closed a $23.7 million HUD loan for Hunter’s Cove Apartments, a 192-unit multifamily community located in the southern Dallas suburb of Waxahachie. The property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and a resident clubhouse. Ana Ramos of Greystone placed the 30-year loan, which featured a fixed interest rate and a 30-year amortization period. The borrower was not disclosed.
CORPUS CHRISTI, TEXAS — New York City-based Meridian Capital Group has arranged an $11.5 million acquisition loan for Wilson Plaza, a 270,000-square-foot office building in Corpus Christi. The 17-story property was built in 1927 and is considered the city’s first skyscraper. Jason Grimm, Noam Kaminetzky and Israel Schubert of Meridian Capital placed the five-year loan through a balance sheet lender on behalf of the borrower, The Tridium Group.
HOPKINSVILLE, KY. — Cohen Financial has arranged $18.2 million for the acquisition of the newly constructed Hopkinsville Town Center, a neighborhood retail center in Hopkinsville near the Kentucky-Tennessee border. Hobby Lobby, T.J. Maxx, Ross Dress for Less and Five Below are tenants at the 184,761-square-foot retail center. Dan Rosenberg and Matt Terpstra of Cohen Financial’s Chicago office secured the loan for the undisclosed borrower.