Loans

United American, World Premier Receive $92M Refinancing for Grand Plaza in San Marcos

by Nellie Day February 10, 2017

SAN MARCOS, CALIF. — United American Properties and World Premier Investments have received a $92 million loan to refinance debt on Grand Plaza, a retail power center in San Macros. Anchored by Sprouts Farmers Market, the 356,796-square-foot property is 94 percent leased to a variety of tenants such as Orchard Supply Hardware, Bed Bath and Beyond, Ross Dress for Less, Marshalls, Boudin Bakery, Lane Bryant, Party City, Broken Yolk Café, Starbucks Coffee, Ulta Beauty and Nordstrom Rack. John Chun, Sebastian Trujillo and AJ Manas of HFF arranged the 25-year, fixed-rate loan with J.P. Morgan Asset Management.

February 10, 2017

Indiana Loans Midwest Multifamily

Dougherty Arranges $26.6M Fannie Mae Loan for Acquisition of Multifamily Property in Indianapolis

by Kristin Harlow February 10, 2017

INDIANAPOLIS — Dougherty Mortgage LLC has arranged a $26.6 million Fannie Mae loan for the acquisition of Coppertree Apartments, a 772-unit multifamily property located in Indianapolis. The property was built in 1969 and renovated in 2012. The seven-year loan features a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va. office for the borrower, Tanglewood Apartments LLC.

February 10, 2017

Loans Midwest Multifamily Wisconsin

Walker & Dunlop Negotiates $11.7M Loan for Refinancing of Multifamily Property Portfolio Near Milwaukee

by Kristin Harlow February 10, 2017

MILWAUKEE — Walker & Dunlop Inc. has negotiated an $11.7 million loan for the refinancing of the Supreme Apartment Portfolio, a six-property portfolio located in Wisconsin. Constructed between 1988 and 1993, the properties consist of 340 garden-style units. The properties include: Greenfield Park in Greenfield, Parkway South in Milwaukee, River Park in Oconomowoc and Orchard Park, Central Park and Parkway Central in West Allis. Matt Ewig, Jeff Robbins and Luke Erlandson of Walker & Dunlop originated the loan with a life insurance company for the borrower, Supreme Builders.

February 10, 2017

Loans Midwest Multifamily Ohio

Pillar Originates $11.3M Fannie Mae Loan for Refinancing of Multifamily Property in Cincinnati

by Kristin Harlow February 9, 2017

CINCINNATI — Pillar has originated an $11.3 million Fannie Mae loan for the refinancing of The Gramercy on Garfield. Built in 1992, the Class A multifamily property is located in downtown Cincinnati. The property consists of 148 studio, one- and two-bedroom units, as well as amenities such as a swimming pool, outdoor kitchen, clubroom and a parking garage. The Gramercy on Garfield also includes 16,000 square feet of street-level retail space. The 10-year, fixed-rate loan features a 30-year amortization schedule. Joe Markech of Pillar originated the loan. The borrower was a developer and manager of multifamily properties in Southwest Ohio. Chip Kupferberg of BlueMark Capital was the mortgage banker.

February 9, 2017

Florida Loans Multifamily Southeast

Hall Structured Finance Closes $37.7M Construction Loan for Apartment Community in Central Florida

by John Nelson February 9, 2017

KISSIMMEE, FLA. — Hall Structured Finance has closed a $37.7 million construction loan for Millennium at Citrus Ridge, a 326-unit apartment community located in Kissimmee, a suburb of Orlando. Hall Structured Finance originated the loan on behalf of the developer, DLC Residential. Situated two miles from Walt Disney World Resort, the property will feature a clubhouse, resort-style pool, fitness center, conference facility and social lounge. Millennium at Citrus Ridge’s units will average about 1,000 square feet. Hall Structured Finance has now closed six construction loans for apartment communities in Florida.

February 9, 2017

Georgia Loans Office Southeast

NXT Capital Provides $36.5M Acquisition Loan for Office Park in Metro Atlanta

by John Nelson February 9, 2017

TUCKER, GA. — NXT Capital has provided a $36.5 million acquisition loan for Lakeside Centre, a six-building office park in the Atlanta suburb of Tucker. Situated adjacent to Interstate 285, U.S. Highway 78 and U.S. Highway 29, the office park features a fitness center, lake views, walking trails, café conference room, on-site management, an on-site bank with a drive-thru and 24/7 security. The borrower and details of the financing were undisclosed.

February 9, 2017

Florida Loans Mixed-Use Southeast

Ready Capital Structured Finance Closes $8.1M Loan for Mixed-Use Project in Miami

by John Nelson February 9, 2017

MIAMI — Ready Capital Structured Finance has closed an $8.1 million loan for the refinancing and renovation of a 66,262-square-foot mixed-use property located at 8300 N.E. 2nd Ave. in Miami’s Little River neighborhood. Originally built in 1951, the property will be renovated to include a food and boutique market on the first and mezzanine floors, office space on the second floor and a roof deck offering 360-degree views of Miami. The two-year loan features interest-only payments, one extension option, flexible prepayments and a facility for future capital expenditures, tenant improvements and leasing commissions.

February 9, 2017

California Loans Retail Western

Mesa West Capital Arranges $35.7M Refinancing for Retail Center in Walnut Creek

by Nellie Day February 9, 2017

WALNUT CREEK, CALIF. — Mesa West Capital has originated a $35.7 million first mortgage loan for the refinancing and repositioning of Rossmoor Shopping Center in Walnut Creek. A joint venture between Citivest Commercial and Tallen Capital Partners was the borrower. The borrower acquired the property in 2012 and is implementing a city-approved redevelopment plan for the 108,000-square-foot property. In addition to upgrading the exterior façade, expanding the inline space and adding new retail pads, the plan also includes adding an additional 27,000 square feet of net rentable area to the existing property. Steve Fried and Seth Hall of Mesa West Capital originated the five-year, non-recourse, floating-rate loan for the borrower.

February 9, 2017

California Industrial Loans Western

NorthMarq Capital Arranges $65M Refinancing for Inland Empire Industrial Portfolio

by Nellie Day February 8, 2017

ONTARIO, CALIF. — NorthMarq Capital has arranged a $65 million refinancing for a three-property industrial portfolio in the Inland Empire. The portfolio contains a total of nearly 1.6 million square feet. The transaction includes 3100 Milliken Ave. in Mira Loma and 5555 and 5772 E. Jurupa St. in Ontario. The financing will allow the borrower to recapitalize the portfolio. The 10-year loan features a forward rate lock of 3.65 percent and a 30-year amortization schedule. NorthMarq’s Michael Elmore arranged the loan through the firm’s correspondent relationship with Hartford.

February 8, 2017

Colorado Loans Multifamily Western

Parkview Financial Provides $13.5M Loan for Micro-Apartment Community in Denver

by Nellie Day February 8, 2017

DENVER — Parkview Financial has provided a $13.5 million loan for an 82-unit micro-apartment community in Denver. The funds will go toward the construction of this ground-up development.

February 8, 2017

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