Loans

Lancaster Pollard Arranges $9.5M Refinancing for Western Skilled Nursing Portfolio

by Nellie Day May 30, 2017

LAMAR, COLO., MONTE VISTA, COLO., AND MYRTLE POINT, ORE. — Lancaster Pollard has arranged $9.5 million in FHA financing for Summit Healthcare REIT. The loans will refinance the acquisition loans on three skilled nursing facilities in the Western United States. The three facilities are Juniper Village at Lamar, a 60-unit skilled facility in Lamar; Juniper Village at Monte Vista, a 58-unit facility in Monte Vista; and Myrtle Point Care Center in Myrtle Point, which features 28 units of skilled nursing and 18 units of assisted living. Jason Dopoulos led the transaction for Lancaster Pollard. The financing, which has a 30-year term, lowered the fixed interest rate on the properties. Summit is a public, non-traded company that recently transitioned from an industrial REIT to a healthcare REIT.

May 30, 2017

California Loans Retail Western

NorthMarq Capital Arranges $44.5M Financing for Millenia Town Center in Chula Vista

by Nellie Day May 26, 2017

CHULA VISTA, CALIF. — Mike Dobbins of NorthMarq Capital’s San Diego office has arranged $44.5 million in financing on behalf of Sudberry Properties. The borrower is using the capital to build Millenia Town Center, a 128,177-square-foot retail property located at the southeast corner of Highway 125 and Birch Road in Chula Vista. The capital consisted of a construction loan from a bank and preferred equity from a life insurance company for whom NorthMarq is a correspondent. Major tenants on the property will include Buy Buy Baby, Ross Dress for Less, Homegoods and Cost Plus.

May 26, 2017

Loans Multifamily Student Housing Texas

Dougherty Closes $5.5M Acquisition Loan for Student Housing Property in San Marcos, Texas

by Taylor Williams May 26, 2017

SAN MARCOS, TEXAS — Dougherty Mortgage LLC has closed a $5.5 million Fannie Mae loan for the acquisition of Millennium on Post, a 51-unit student housing property in the San Antonio suburb of San Marcos. The property is located at 1651 Post Road, roughly 2.5 miles from Texas State University. Dougherty arranged the 12-year loan through a partnership with Old Capital Lending on behalf of the borrower, 1651 Millennium Post Road LLC.

May 26, 2017

Loans Multifamily New York Northeast

Houlihan-Parnes Secures $29.3M Financing for Multifamily Properties in NYC

by Haisten Willis May 26, 2017

NEW YORK CITY — Zeev Douek of Q10 New York Realty Advisors, an affiliate of Houlihan-Parnes Realtors, has secured $29.3 million in financing for two apartment buildings in the Queens borough of New York City. The buildings include a total of 240 units with a unit mix of studios and one- and two-bedroom units. Both loans were placed with a New York-based bank. The five-year, fixed-rate loans provided for a cash-out refinancing of $6 million.

May 26, 2017

Illinois Loans Midwest Retail

Associated Bank Provides $25M Refinance Loan for Mariano’s-Occupied Building in Orland Park, Illinois

by Kristin Harlow May 26, 2017

ORLAND PARK, ILL. — Associated Bank has provided a $25 million loan for the refinancing of a 73,180-square-foot retail building occupied by Mariano’s Fresh Market in Orland Park, a suburb of Chicago. The grocery store, located at 9504 W. 142nd St., opened in January 2016. Daniel Barrins of Associated Bank originated the loan. A United Kingdom-based affiliate of IM Properties PLC was the borrower.

May 26, 2017

Loans Multifamily New York Northeast

Meridian Capital Group Secures $65M Refinancing of Multifamily Property in NYC

by Haisten Willis May 25, 2017

NEW YORK CITY — Meridian Capital Group has secured $65 million to refinance The Blake, a multifamily property in the Upper East Side of Manhattan, on behalf of BLDG Management. A national life insurance company provided the 10-year loan, which features a fixed rate of 4.2 percent and seven years of interest-only payments. Meridian’s Carol Shelby negotiated the transaction. The Blake, located at 220 E. 63rd St., is a 14-story, 181-unit apartment building including one-, two- and three-bedroom units. Building and neighborhood amenities include a 24-hour doorman, valet services, a lounge, fitness center, on-site parking and a subway station one block away.

May 25, 2017

Loans Massachusetts Northeast Retail

EagleBridge Capital Arranges $3.5M Financing for Retail Property in Milford, Massachusetts

by Haisten Willis May 25, 2017

MILFORD, MASS. — Ted Sidel and Brian Sheehan of EagleBridge Capital have arranged $3.5 million in permanent mortgage financing to refinance Milford South Plaza in Milford. A Massachusetts-based thrift institution was the lender. The property is a 44,270-square-foot retail plaza with 237 parking spaces on 5.1 acres. Milford South Plaza is located at 146 S. Main St. The plaza is 100 percent leased to four tenants including Big Lots, Dollar Tree, The Milford National Bank and Dunkinâ€™ Donuts. An affiliate of Summit Realty Partners manages the property.

May 25, 2017

Loans Retail Texas

Q10 KDH Arranges $16M in Financing for Class A Shopping Center in Houston

by Taylor Williams May 25, 2017

HOUSTON — Q10 KDH has arranged $16 million in permanent financing for Cypress Creek Plaza, a Class A shopping center in northwest Houston. The center is shadow-anchored by H-E-B and contains 51,034 square feet of net rentable space across three buildings and three ground-leased pad sites leased to Wendy’s, Zaxby’s and Chase Bank. Thrivent Financial provided the 10-year loan, which features a 30-year amortization schedule and a fixed sub-4 percent interest rate.

May 25, 2017

Healthcare Indiana Loans Midwest

KeyBank Provides $15.3M Refinancing for Skilled Nursing Portfolio in Indiana

by Kristin Harlow May 25, 2017

NOBLESVILLE AND LAFAYETTE, IND. — KeyBank Real Estate Capital has provided $15.3 million in loans for the refinancing of a two-property skilled nursing portfolio in Indiana. KeyBank provided a $9.6 million loan for Trilogy-Prairie Lakes Health Campus located in Noblesville, about 25 miles north of Indianapolis. Built in 2010, the 132-bed facility consists of 49 skilled nursing units, 33 assisted living units and 29 memory care units. KeyBank provided a $5.7 million loan for Trilogy-St. Mary Healthcare Center located in Lafayette, about 60 miles northwest of Indianapolis. The 71-bed facility was built in 1969 and renovated in 2010. John Randolph and Laura Conway of KeyBank Healthcare Group arranged the loans through the FHA 232/223(f) mortgage insurance program. Both loans include 35-year amortization schedules.

May 25, 2017

Illinois Industrial Loans Midwest

Bellwether Arranges $9M Refinancing Loan for Industrial Property in Chicago

by Kristin Harlow May 25, 2017

CHICAGO — Bellwether Enterprise has arranged a $9 million loan for the refinancing of a 700,000-square-foot industrial property in Chicago. Constructed in the late 1990s, the building features 30-foot clear heights and 120-foot truck courts. Shelley Magoffin and Max Sauerman of Bellwether arranged the loan for the Los Angeles-based owner. Thrivent Financial for Lutherans provided the loan.

May 25, 2017

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