OMAHA — NorthMarq Capital has arranged a $28.6 million Freddie Mac loan for the refinancing of Broadmoor Hills Phase I in Omaha. The 299-unit apartment property is located at 18510 Capitol Court. Community amenities include a fitness center, indoor basketball court, resident movie theater, onsite restaurant, business center and community clubhouse. Jason Kinnison of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule. The borrower was not disclosed.
LAWRENCE, KAN. — Dougherty Mortgage has provided a $3.4 million Fannie Mae loan for the refinancing of Rohan Ridge Apartments in Lawrence. The 72-unit multifamily property features one-, two- and three-bedroom units as well as a swimming pool and playground. The 10-year loan features a 30-year amortization schedule. Wenson-Bear Creek Westgate LLC was the borrower.
SEATTLE — Norris, Beggs & Simpson Financial Services (NBS Financial) has arranged $22 million in financing for the development of Stream Dexios Apartments, located in the Westlake neighborhood of Seattle. The borrower is Stream Real Estate. Mike Wood and Colin Ceithaml of NBS Financial secured the construction/permanent loan financing, which was structured with a 13-year term and a 30-year amortization. State Farm Life Insurance Co., a life company correspondent of NBS Financial, provided the funding. When completed in 2019, the five-story, 80,800-square-foot property will feature 80 apartment units, 3,900 square feet of ground-floor retail space and 54 parking stalls. On-site amenities will include a rooftop deck with views of Lake Union, Capitol Hill and the Cascade Mountains.
COLORADO SPRINGS, COLO. — HFF has arranged $7.7 million in financing for two apartment properties — Alvarado Place and Solar Vista, both located in Colorado Springs. The borrower is Radford Investment Properties. Brock Yaffe of HFF arranged two separate fixed-rate loans through the Freddie Mac Small Balance Loan program for the borrower. Proceeds from the loan for Alvarado Place refinanced a floating-rate loan the HFF team sourced for the borrower in 2016, while proceeds from the loan for Solar Vista were used to acquire the property. Located at 1465 Alvarado Drive, Alvarado Place features 99 units in a mix of studio, one- and two-bedroom apartments averaging 519 square feet. Solar Vista, located at 1535 S. Eighth St., features 28 apartments in a mix of one- and two-bedroom layouts averaging 563 square feet.
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.
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.
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.
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.
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.
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.
