Loans

Fantini & Gorga Negotiates $14.2M Loan for 183-Unit Multifamily Property in Nashua, New Hampshire

by Amy Works July 12, 2017

NASHUA, N.H. — Fantini & Gorga has arranged $14.2 million in permanent financing for Clocktower Place II, a multifamily property located in downtown Nashua. Jason Cunnane and Tim O’Donnell of Fantini & Gorga arranged the loan, which was placed through a national Fannie Mae lender, for an undisclosed borrower. Clocktower Place II is a five-story rehabilitated mill building that is contiguous with Clocktower Place I. The two phases function as a single rental property comprising one long continuous structure that was built and expanded throughout the 19th century. The property was converted to its current use in the late 1980s. Clocktower Place II features 128 market-rate and 55 affordable one-, two- and three-bedroom apartments. Additionally, the property features a fitness center, indoor pool, common room and surface and underground parking.

July 12, 2017

Loans Midwest Multifamily Nebraska

NorthMarq Arranges $7.1M Refinancing Loan for Apartment Property in Bellevue, Nebraska

by Kristin Harlow July 12, 2017

BELLEVUE, NEB. — NorthMarq Capital has arranged a $7.1 million Freddie Mac loan for the refinancing of Summit South Apartments in Bellevue, a southern suburb of Omaha. The apartment property, constructed in late 2016, consists of 75 units. Jason Kinnison of NorthMarq arranged the loan.

July 12, 2017

Loans Northeast Pennsylvania Retail

Natixis Provides $54.5M in Financing for Redevelopment of Suburban Philadelphia Retail Center

by Amy Works July 11, 2017

CHELTENHAM, PA. — Natixis has originated a $54.5 million floating-rate loan for New York City-based Sun Equities Partners. The borrowers will use the loan to redevelop the former Cheltenham Square Mall located in Cheltenham. The financing consists of a $42 million senior loan and a $12.5 million mezzanine loan. Initial loan proceeds of $16.9 million were used to retire existing property financing and an additional $40.1 million is earmarked for the redevelopment and future leasing of the property. The 429,617-square-foot retail center will be rebranded as Greenleaf at Cheltenham. The property is currently 60 percent leased and pre-leased to a variety of retailers, including The Home Depot, Marshalls, LA Fitness, TD Bank, Wells Fargo, T-Mobile, Chick-fil-A and Wendy’s. Eli Breiner and Jerry Boxer of ECB Capital Group arranged the financing for the borrower.

July 11, 2017

Loans Multifamily New York Northeast Seniors Housing

Greystone Provides $29M Loan for Skilled Nursing Facility in Queens

by Amy Works July 11, 2017

NEW YORK CITY — Greystone has provided a $29 million HUD-insured permanent loan for Sapphire Center for Rehab & Nursing of Central Queens. Located in the Flushing neighborhood of Queens, the skilled nursing facility offers 227 beds. Sapphire Care Group, the borrower, originally acquired the property in 2015 and rebranded and improved the facility. Fred Levine of Greystone’s Monsey, N.Y., office originated the loan.

July 11, 2017

Georgia Industrial Loans Southeast

Colliers International Arranges $81M in Refinancing for Industrial Portfolio in Atlanta

by Camren Skelton July 11, 2017

ATLANTA — Colliers International has arranged $81 million in refinancing for a 40-property industrial portfolio in Atlanta. The portfolio is owned by a joint venture advised by New York-based Clarion Partners LLC. Kevin Troy and Hank Hall of Colliers International arranged the financing through Principal Global Investors on behalf of Clarion Partners. The portfolio, which includes 3.7 million square feet of Class A and Class B industrial buildings, was fully leased at the time of sale.

July 11, 2017

Loans Multifamily North Carolina South Carolina Southeast

Hunt Mortgage Provides $51.5M in Refinancing for Two Multifamily Properties in Carolinas

by Camren Skelton July 11, 2017

CHARLOTTE, N.C. AND COLUMBIA, S.C. — Hunt Mortgage Group has provided $51.5 million in financing for two apartment communities in the Carolinas — $31.9 million for the refinancing of Highlands at Alexander Pointe in Charlotte and $19.6 million for the refinancing of Carrington Place at Wildewood in Columbia. Hunter Mortgage Group arranged the seven-year, adjustable-rate loans through Freddie Mac on behalf of the borrower, an undisclosed national real estate fund. Built in 2002, Highlands at Alexander Pointe features a fitness center, clubhouse, grill area, pool, laundry center and a dog park. Constructed in 2005, Carrington Place at Wildewood includes a fitness center, grill area, pool, laundry center, playground and a dog park.

July 11, 2017

Loans Multifamily Oklahoma Texas

BMC Capital Secures $2M Acquisition Loan for 80-Unit Multifamily Property in Moore, Oklahoma

by Taylor Williams July 11, 2017

MOORE, OKLA. — BMC Capital has secured a $2 million loan for the acquisition of an 80-unit multifamily property in Moore, a southern suburb of Oklahoma City. Clayton Wells of BMC arranged the 10-year loan, which features a 4.1 percent interest rate, and 30-year amortization schedule, on behalf of the undisclosed borrower.

July 11, 2017

California Loans Office Western

Alcion Ventures Receives $60M Refinancing for Blackwelder Creative Office Campus in LA

by Nellie Day July 11, 2017

LOS ANGELES — Alcion Ventures has received $60 million to refinance debt on Blackwelder, a 157,560-square-foot creative office campus in Los Angeles. The campus is situated at the intersection of Fairfax Avenue and La Cienega Boulevard, adjacent to Culver City. Blackwelder was renovated in phases, which commenced in 2007. It contains 19 low-rise buildings on more than six acres. HFF”s Mark Wintner and Doug Bond arranged the financing. Heitman LLC provided the three-year, floating-rate loan.

July 11, 2017

Loans Nevada Retail Western

Eyzenberg & Co. Arranges $18.1M Refinancing for The Shoppes at Harmon Square in Las Vegas

by Nellie Day July 11, 2017

LAS VEGAS — Eyzenberg & Co. has secured an $18.1 million refinancing for The Shoppes at Harmon Square, a 31,384-square-foot retail center located across from the Hard Rock Hotel & Casino in Las Vegas. Tenants at the newly renovated center include Dunkin’ Donuts, Subway, 7-Eleven, Liquor World, Tropical Smoothie and Roberto’s Tacos. David Eyzenberg, Jeff Conti and Elena Vlasyuk of Eyzenberg & Co. arranged the fixed-rate senior secured loan on behalf of the owner, HD Harmon Square LLC. Benefit Street Partners provided the capital.

July 11, 2017

California Loans Multifamily Seniors Housing Western

iBorrow Provides $9.3M Bridge Loan for Assisted Living Renovations in Long Beach

by Nellie Day July 11, 2017

LONG BEACH, CALIF. — iBorrow, a private commercial real estate lender, has provided a $9.3 million bridge loan for an assisted living community’s renovations in the Los Angeles suburb of Long Beach. The 64,090-square-foot property was originally built in 1929. When renovations are completed, it will feature 56 units of assisted living, as well as a rooftop garden, ocean views and some retail. It is located a half mile from the 415-bed St. Mary’s Medical Center. The borrower and name of facility were not disclosed. Will McCabe of iBorrow originated the loan.

July 11, 2017

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