SANTA ANA, CALIF. — NewMark Merrill Cos., a Woodland Hills-based retail shopping center development company, has completed a $19.1 million recapitalization of Bristol Warner Village in Santa Ana. NewMark Merrill’s Sandy Sigal, Susan Rorison, James Patton and Sandra Kist made up the finance team. Bristol Warner Village is located at the southeast corner of Bristol Street and Warner Avenue. The 80,865-square-foot property recently underwent redevelopment and is 98.5 percent occupied by tenants including Starbucks, 99 Cent Only, Chase, T-Mobile and MetroPCS.
LANCASTER, CALIF. — Fident Capital has provided a $9.5 million permanent loan for the recently constructed Department of Motor Vehicles (DMV) in Lancaster. The 29,000-square-foot facility is located at 721 W. Ave L6. The State of California signed a 20-year lease for the space once the loan was closed. Magnon Cos. developed the property.
LITTLE ROCK, ARK. — Pillar, a division of SunTrust Bank, has originated a $25.5 million HUD loan for the refinancing of Metropolitan Apartments, a 260-unit multifamily community in Little Rock. The market-rate property was fully occupied at closing. Evan Hom of Pillar’s New York office originated the 35-year loan on behalf of the borrower, Transcontinental Realty Investors/Adobe Properties, a Dallas-based multifamily property owner and developer. The HUD financing features a fixed interest rate and a 35-year amortization schedule.
BRIGHTON, MASS. — Transwestern Consulting Group (TCG) has arranged a construction and permanent financing loan on behalf of NB Development Group for 40 Guest St. in Brighton. According to public records, the loan amount was $76 million. TCG’s Chris Skeffington and Andrew Stone, along with NB Development’s Jim Halliday and Kevin Doyle, arranged the loan with East Boston Savings Bank. Part of the Boston Landing mixed-use development, 40 Guest St. is a planned 160,000-square-foot facility that will house the Boston Celtics’ new training and practice facility known as the Auerbach Center at New Balance World Headquarters. The project also includes two floors of Class A laboratory and office space totaling 83,500 square feet, plus 5,700 square feet of retail space. The project broke ground in November 2016, with completion expected in mid-2018. TCG provides leasing and property management services for Boston Landing.
NEW YORK CITY — Natixis has provided a $250 million first mortgage CMBS loan to JEMB Realty for the refinancing of 75 Broad St. in Manhattan. JEMB Realty purchased the office tower in 1999, and has renovated it into a property geared toward high-tech tenants. More than $50 million in improvements have been made to the 34-story, 650,000-square-foot property in recent years. Steve Kohn and Alex Hernandez of Cushman & Wakefield advised the borrower in the transaction.
ROCHESTER, N.Y. — KeyBank Real Estate Capital has provided an $11.6 million Freddie Mac first mortgage loan for Kings Court Manor Apartments in Rochester. The 184-unit multifamily property was built between 1968 and 1970. Dirk Falardeau of Key’s commercial mortgage group arranged the financing with a seven-year term, two-year interest-only period and a 30-year amortization schedule. The loan was used to refinance existing debt.
CHICAGO — New York Life Real Estate Investors has originated a $59.4 million mortgage loan for a cold storage industrial portfolio scattered across metro Chicago. The portfolio consists of four buildings spanning 710,000 square feet. The buildings are located in Chicago, Bartlett and Lyons, Ill. The floating-rate loan has a five-year term. The borrower was an institutional investor.
DALLAS — Dougherty Mortgage LLC has placed a $9.4 million Fannie Mae for the acquisition of Sierra Vista Apartments on behalf of SevenSeas Holdings IV LLC. The 224-unit multifamily property is located at 2775 Northaven Road in Dallas. The 12-year loan, which was arranged through a partnership with Old Capital Lending, features a 30-year amortization schedule and one year of interest-only payments.
FORT WORTH, TEXAS — Mason Joseph Co. Inc., a San Antonio-based lender, has arranged a $6.6 million loan for the refinancing of Pennsylvania Place Apartments, a 152-unit multifamily complex located at 250 E. Pennsylvania Ave. in Fort Worth’s Medical District. The U.S. Department of Housing and Urban Development provided the 35-year, non-recourse loan to the borrower, Fort Worth Housing Solutions.
DES MOINES, IOWA — Dougherty Mortgage LLC has arranged an $11 million loan for the acquisition of Willow Park Apartments in Des Moines. The apartment property, which consists of 300 units, was built in 1976 and renovated in 2000. The 10-year Fannie Mae loan includes a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower, Willow Park Partners LLC.