Loans

Lancaster Pollard Arranges Four Refinancings Totaling $55.1M for Summit Healthcare REIT

by Nellie Day November 30, 2017

PORTLAND, ORE. — Lancaster Pollard has arranged $55.1 million in FHA Sec. 232/223(f) loans to refinance four Summit Healthcare REIT properties in Delaware and Oregon. The program provides for the acquisition and refinancing of healthcare properties including licensed skilled nursing facilities, assisted living, intermediate care facilities, board and care, and combinations thereof. The four properties refinanced were Atlantic Shores Rehabilitation & Health Center, a 181-bed skilled nursing facility in Millsboro, Del.; Pinnacle Rehabilitation & Health Center, a 151-bed skilled nursing facility in Smyrna, Del.; Applewood Retirement Community, a 69-unit independent living community in Salem, Ore.; and Gateway Care and Retirement Center, a 66-unit independent living, assisted living and skilled nursing community in Portland, Ore. Summit owns the four properties through joint ventures. Both Applewood and Gateway are part of the Sapphire Health Services Community network. Jason Dopoulos led the transactions for Lancaster Pollard.

November 30, 2017

Colorado Loans Multifamily Western

Harborview Capital Partners Closes $30M HUD Refinancing for Denver-Area Multifamily Property

by Nellie Day November 30, 2017

DENVER — Harborview Capital Partners has closed a $30 million HUD refinancing for an undisclosed multifamily asset outside of Denver. The non-recourse loan came through HUD’s Section 223(f) program with a fixed interest rate for 35 years. The borrower is a local owner-operator. Harborview’s Avi Begun originated the loan.

November 30, 2017

Connecticut Loans Multifamily Northeast

Hunt Mortgage Provides $5.8M in Refinancing for Multifamily Property in Waterbury, Connecticut

by Amy Works November 29, 2017

WATERBURY, CONN. — Hunt Mortgage Group has provided a $5.8 million Fannie Mae conventional loan for the refinancing of a multifamily property located in Waterbury. The borrower is 650 Howard 2017 LLC, a single-purpose, Connecticut limited liability firm backed by key principals Tom Bechard and George Louie. The 10-year, fixed-rate loan features a 30-year fully amortizing schedule with yield maintenance prepayment. Located at 119 and 136 Store Ave., the two-building Store Avenue Apartments offer a total of 113 units. At the time of refinancing, the property was 97 percent occupied.

November 29, 2017

Colorado Loans Multifamily Western

NE Development Obtains $32.8M Loan for Rocket Apartments in Colorado

by Nellie Day November 29, 2017

DURANGO, COLO. — NE Development has received $32.8 million in construction and permanent financing for the 194-unit Rocket Apartments in Durango. The community is located at 150 Confluence Ave. Rocket Apartments contains seven garden-style, walk-up buildings on eight acres. The property will also contain a clubhouse and other high-end community amenities. Love Funding Senior Director Leonard Lucas secured the financing through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program.

November 29, 2017

Loans New York Northeast Retail

HFF Secures $33.7M Refinancing for 21-Property Retail Portfolio in New York, Ohio

by Amy Works November 28, 2017

ROCHESTER, N.Y., AND CLEVELAND — HFF has secured $33.7 million for the refinancing of a 21-building retail portfolio located in the greater Rochester and Cleveland metro areas. The borrower is FX Net Lease Holdings LLC. Chris Hew, Dan Martin and Evan Parker of HFF arranged the 18.5-year, fixed-rate loan with Allegiant Real Estate Capital. Totaling 65,588 square feet, the properties are all triple-net leased to Wendy’s.

November 28, 2017

Loans New York Northeast Retail

Integra Real Estate Capital Arranges $16M in Financing for Retail Space in Brooklyn

by Amy Works November 28, 2017

NEW YORK CITY — Integra Real Estate Capital has secured $16 million in financing for a retail condominium located at 1809 Emmons Ave. in Brooklyn. Located at the base of The Vue, the two-story condominium features 26,000 square feet of retail space. The Vue is a newly constructed residential tower developed by Rybak Development. Igor Goldenberg of Integra negotiated the 10-year interest-only loan with a CMBS lender for the undisclosed borrower.

November 28, 2017

Loans Massachusetts Northeast

EagleBridge Capital Negotiates $5.8M Loan for Retail Ground Lease in Wayland, Massachusetts

by Amy Works November 28, 2017

WAYLAND, MASS. — EagleBridge Capital has arranged $5.8 million in acquisition and permanent mortgage financing for an undisclosed borrower. Loan proceeds will be used for a long-term ground lease to CVS/pharmacy. Situated on 2.1 acres on Main Street in Wayland, the freestanding retail property will feature 13,900 square feet of space, a drive-thru lane and 60 parking spaces. The property is currently under construction. Ted Sidel and Brian Sheehan of EagleBridge arranged the financing through a leading Massachusetts thrift institution.

November 28, 2017

Loans Multifamily Texas

NorthMarq Arranges $15.8M Refinancing for Apartment Complex in Midland

by Taylor Williams November 28, 2017

MIDLAND, TEXAS — NorthMarq Capital has arranged a $15.8 million refinancing of The Azure, a 156-unit affordable housing property in the West Texas city of Midland. The property offers amenities such as a business center, resident clubhouse, pool and fitness center. Carl Pankratz of NorthMarq Capital secured the 10-year Freddie Mac loan, which features a 30-year amortization schedule. The borrower was not disclosed.

November 28, 2017

Loans Michigan Midwest Multifamily

Greystone Provides $2.3M Refinancing for Apartment Property in Holt, Michigan

by Kristin Harlow November 28, 2017

HOLT, MICH. — Greystone has provided a $2.3 million Freddie Mac loan for the refinancing of Whispering Pines in Holt, 10 miles south of Lansing. The property features 104 apartment units. Cary Belovicz, Austin Hull and John Marr of Greystone originated the 10-year loan, which features a fixed rate.

November 28, 2017

Florida Healthcare Loans North Carolina Southeast

HFF Arranges $26.6M Recapitalization, Financing of Medical Office Portfolio in Florida, North Carolina

by Camren Skelton November 28, 2017

DALLAS — HFF has arranged the $26.6 million recapitalization and financing of a six-property medical office portfolio located throughout Florida and North Carolina. Anthony Frogameni, Ben Appel and Matt DiCesare of HFF marketed the portfolio on behalf of the borrower, Catalyst HRE, and procured the investor, Charter Realty Group. In addition, Michael George and Charley Dickenson of HFF arranged fixed-rate senior financing through Capital One on behalf of the new venture between Catalyst HRE and Charter Realty Group. The portfolio, which totals 68,000 square feet, comprises four radiation oncology treatment centers operated by Robert Boissoneault Oncology Institute in the Florida markets of Lecanro, Ocala and The Villages; the Florida Diagnostic Imaging Medical Office Building in Panama City, Fla.; and the Eastern Regional Surgical Center in Wilson, N.C.

November 28, 2017

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