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IdahoLoansMultifamilyStudent HousingWestern

TSB Capital Secures Acquisition Financing for 622-Bed Student Housing Community Near Boise State

by Nellie Day

BOISE, IDAHO — TSB Capital Advisors has secured financing for the acquisition of River Edge, a 622-bed community located near Boise State University in Idaho. The amount of the loan was not disclosed. The floating-rate term loan was secured on behalf of a joint venture between University Student Living and Harrison Street Real Estate Capital. BMO Harris Bank N.A. provided the financing. River Edge was built in 2015, and offers two- and four-bedroom units. Community amenities include a 24-hour fitness center, tanning center, study lounge, hot tub and immediate access to local hike and bike trails.

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LoansMultifamilyNew YorkNortheast

Capital One Closes $61M Loan to Refinance Long Island Apartment Community

by Amy Works

HOLBROOK, N.Y. — Capital One has provided a $61 million fixed-rate loan to refinance Fairfield Broadway Knolls at Holbrook, an apartment complex located in the Eastern Long Island town of Holbrook. Fairfield Properties used the proceeds of the loan to retire a bridge loan that was used to purchase the property. The 10-year loan has 23 months of interest-only payments followed by amortization on a 30-year schedule. Built in 2006, the 284-unit property features a clubhouse with resident lounge, cyber café with business center, swimming pool, tennis and basketball courts and a fitness center. Robert Akalski of Capital One originated the loan for the borrower.

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1122-Chestnut-Ave-Brooklyn-NY
LoansMixed-UseMultifamilyNew YorkNortheastRetail

Meridian Capital Secures $19M in Financing for Mixed-Use Property in Brooklyn

by Amy Works

NEW YORK CITY — Meridian Capital Group has arranged $19 million in construction take-out financing for the refinance of a mixed-use property located at 1122 Chestnut Ave. in the Midwood neighborhood of Brooklyn. The seven-year loan, provided by a local balance sheet lender, features a fixed rate of 4.00 percent. Blake Orman of Meridian negotiated the financing for the undisclosed borrower. The seven-story building features 57 residential rental units and 12,600 square feet of ground-floor retail space. Building amenities include high-speed elevators, parking with optional valet service, a laundry facility and a bicycle storage room.

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Clocktower-Place-Nashua-NH
LoansMultifamilyNew HampshireNortheast

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

by Amy Works

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.

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LoansNortheastPennsylvaniaRetail

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

by Amy Works

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.

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LoansMultifamilyNew YorkNortheastSeniors Housing

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

by Amy Works

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.

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GeorgiaIndustrialLoansSoutheast

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

by Camren Skelton

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.

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LoansMultifamilyNorth CarolinaSouth CarolinaSoutheast

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

by Camren Skelton

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.

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LoansMultifamilyOklahomaTexas

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

by Taylor Williams

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.

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