Loans

SunTrust, Partners Provide $24.8M Financing for New YMCA Headquarters in Downtown Atlanta

by Camren Skelton December 7, 2017

ATLANTA — SunTrust Community Capital, in partnership with McCormack Baron Salazar and Invest Atlanta, has provided $24.8 million in financing for a new YMCA of Metro Atlanta headquarters. The 54,400-square-foot building, known as the YMCA Center for Leadership and Learning, will be located at 569 Martin Luther King Jr. Drive in downtown Atlanta, a half-mile from the new Mercedes-Benz Stadium. The financing included $22 million in New Market Tax Credits (NMTC) allocation and a $2.5 million Westside Tax Allocation District grant from Invest Atlanta. SunTrust Community Capital served as the sole NMTC investor for the development. The new Leadership and Learning Center will house the YMCA of Metro Atlanta’s administrative offices and will become the new regional YMCA training center for the Southeast, providing training to over 1,500 employees annually. The center will bring 135 YMCA employees to downtown Atlanta, including 25 new jobs and various internship opportunities. The facility is expected to open in early 2019.

December 7, 2017

Loans Multifamily Texas

NorthMarq Secures $16.4M Construction Loan for Apartment Property in Metro Houston

by Taylor Williams December 7, 2017

DICKINSON, TEXAS — NorthMarq Capital has secured a $16.4 million construction/perm loan for Bahia Cove, a 248-unit multifamily community in Dickinson, about 30 miles southeast of Houston. Robert Hernandez of NorthMarq placed the loan, which features a 10-year term, 30-year amortization schedule and three years of interest-only payments, through an undisclosed life insurance company. The name of the borrower was also withheld.

December 7, 2017

Loans Multifamily Texas

LMI Capital Closes $46.5M in Loans for Five Multifamily Assets in Houston Area

by Taylor Williams December 7, 2017

HOUSTON — LMI Capital has closed $46.5 million in loans for a quintet of multifamily properties totaling 920 units throughout the Houston area. Brandon Brown, Kurt Dennis and Jamie Mullin of LMI Capital placed the loans for the garden-style properties, which are located in the Woodlake/Briarmeadow, Inner Loop East, Westchase, Champions East and North Houston submarkets. The lenders and borrowers were not disclosed.

December 7, 2017

Loans Multifamily New York Northeast

Sabal Capital Partners Closes 34 Loans Totaling $129M to Refinance Apartments in the Bronx

by Amy Works December 7, 2017

NEW YORK CITY — Sabal Capital Partners has completed a $129 million portfolio of 34 refinancing loans for multifamily units in the Bronx. The portfolio encompasses 863 apartment units. The loans are the largest single Small Business Loan transaction processed through the Freddie Mac SBL program since its inception in 2014, according to Sabal.

December 7, 2017

Loans Mixed-Use Multifamily New York Northeast Retail

Madison Realty Capital Provides $15M Loan for Mixed-Use Development Site in Brooklyn

by Amy Works December 7, 2017

NEW YORK CITY — Madison Realty Capital has provided a $15 million bridge loan for a mixed-use development site located on three adjacent parcels in Brooklyn: 936 and 948 Myrtle Ave. and 258-264 Throop Ave. The borrower, a developer, has received approval for a 154,699-square-foot, three-building, mixed-use project. The developer plans to construct a residential project with rental and condominium units in three interconnected buildings with ground-floor retail space. Site excavation is nearly complete, and the borrower is moving forward with foundation work while pursuing approval for additional support through the Inclusionary Housing and Food Retail Expansion to Support Health programs.

December 7, 2017

Loans Midwest Multifamily Ohio

KeyBank Provides $163.1M Refinancing for Manufactured Housing Portfolio

by Kristin Harlow December 7, 2017

CLEVELAND, OHIO — KeyBank Real Estate Capital has provided $163.1 million in financing through a Fannie Mae credit facility for the recapitalization of 14 manufactured housing properties in six states. Totaling 5,013 combined pad sites, the properties are part of a 23-property portfolio owned and operated by Inspire Communities. The property names were not disclosed. Todd Linehan of Key structured the financing with a 10-year term, five-year interest only period and 30-year amortization schedule. The loan will be cross-collateralized and cross-defaulted.

December 7, 2017

Hawaii Loans Multifamily Seniors Housing Western

Lancaster Pollard Closes Two Refinancings Totaling $57.1M for Seniors Housing Communities in Hawaii, Arizona

by Nellie Day December 7, 2017

HONOLULU AND GREEN VALLEY, ARIZ. — Lancaster Pollard has arranged two Fannie Mae loans totaling $57.1 million for seniors housing communities in Honolulu and the Tucson suburb of Green Valley. The first transaction was a $51.2 million loan that refinanced construction debt for The Plaza at Waikiki in Honolulu. MW Group owns the property, which was built in 2015. The community has been named Hawaii’s best senior living facility by The Honolulu Star Advertiser for three consecutive years. Jason Dopoulos, Doug Harper and Casey Moore led this transaction for Lancaster Pollard. In the second transaction, Lancaster Pollard assisted Frontier Management with the $5.85 million refinancing of a 52-unit memory care community in Green Valley. The 15-year loan refinanced maturing debt. Harper and Moore led the effort for Lancaster Pollard on the second closing.

December 7, 2017

California Loans Multifamily Seniors Housing Western

CBRE Negotiates $29.8M Loan for 144-Unit Seniors Housing Community Near San Diego

by Nellie Day December 7, 2017

ESCONDIDO, CALIF. — CBRE has arranged $29.8 million in financing for Westmont Town Court, a 144-unit independent living, assisted living and memory care community in the San Diego suburb of Escondido. The borrower is Westmont Living, which purchased the property in 2012. Following the acquisition, Westmont implemented a three-year capital improvement plan that renovated the property and added the 22-unit memory care wing. The property is 92 percent occupied. Aron Will of CBRE National Senior Housing and Andrew Behrens of CBRE Multifamily Institutional Group arranged the 10-year, fixed-rate loan with 60 months of interest-only payments through Freddie Mac. The use of the funds was not disclosed. Westmont currently owns and/or operates 11 seniors housing communities located throughout California and Oregon.

December 7, 2017

California Loans Retail Western

HFF Arranges $15M Financing for Renovation of Retail Property in San Mateo

by Nellie Day December 7, 2017

SAN MATEO, CALIF. — HFF has secured a $15 million loan for the renovation of The Baywood, a 26,157-square-foot retail and office building in San Mateo. Chris Gandy of HFF arranged the three-year, floating-rate loan through a national bridge lender on behalf of the borrower and developer, B St Development. Proceeds of the loan will be used to remodel the façade and will add a third floor totaling approximately 5,000 square feet of rentable space.

December 7, 2017

Industrial Loans Massachusetts Northeast

Transwestern Consulting Group Arranges Two Loans Totaling $22.8M for Warehouses in Massachusetts

by Amy Works December 6, 2017

CLINTON AND MEDFORD, MASS. — Transwestern Consulting Group has arranged two loans totaling $22.8 million for NorthBridge Partners. The loans will finance the acquisition and future leasing costs for two warehouses in Massachusetts. Transwestern secured a long-term, non-recourse $13.9 million loan for 100 Adams Road, a warehouse in Clinton, through Middlesex Savings Bank. The 345,000-square-foot building is fully occupied by five tenants. Completed in 2000, the property features 30-foot clear ceiling heights, 53 loading docks and one drive-in door. Transwestern also arranged a long-term, non-recourse $8.9 million loan for 23 Sycamore Ave. in Medford through HarborOne Bank. The warehouse features 91,000 square feet of high-bay warehouse space.

December 6, 2017

Newer Posts

Older Posts