HOUSTON — NorthMarq Capital has arranged refinancing for Northville Plaza, a retail property located in Houston. Mattress One, Tile Max and Allstate occupy the 14,400-square-foot property. Warren Hitchcock of NorthMarq Capital’s Houston office arranged the non-recourse, 15-year fixed-rate loan on behalf of the undisclosed borrower.
DALLAS — HFF has secured the $120 million refinancing for Cityplace Tower, a 1.35 million-square-foot office tower in Uptown Dallas. The borrowers were Parmenter and Angelo, Gordon & Co. Starwood Property Trust provided the loan, which is interest-only for the full term. Proceeds of the loan were used to refinance the existing debt and provide capital for future tenant improvements, leasing commissions and capital expenditures. Situated along North Haskell Avenue, the 42-story Cityplace Tower was built in 1988 and underwent a $15 million renovation and rebranding last year. The property features eight levels of subterranean parking, 51,434 square feet of conference facilities, a 300-seat amphitheater, a 34,000-square-foot spa and fitness center, six patio sunrooms, a carwash, concierge service, convenience store and cafeteria. Ed Coco, John Brownlee, Jim Curtain and Matt Casey of HFF arranged the loan.
HOUSTON — JLL has arranged $9.8 million in acquisition financing for Cypress Ridge Apartments, a multifamily property located in Houston. The borrower is The PPA Group LLC. Mark Brandenburg and CW Sheehan of JLL arranged the seven-year loan through JLL’s Fannie Mae DUS lending program. Situated on 8 acres, the property features 252 apartment units in a mix of one-, two- and three-bedroom floor plans. Community amenities including a swimming pool with a gazebo, a playground and three central laundry rooms.
CHICAGO — Mesa West Capital has provided $145 million in structured debt for the recapitalization and stabilization of a 469-unit luxury apartment building in Chicago’s South Loop. 1000 South Clark, a 29-story building, is a joint venture of JDL Development and New York-based iStar Inc. The building features a mix of studio, one-, two- and three-bedroom and townhome units and is currently in the final stages of lease-up. The five-year, non-recourse financing included $30 million in mezzanine debt that was sold to an institutional investor at closing.
WAUSAU, WIS. — Dougherty Mortgage LLC has closed an $8.5 million Fannie Mae loan for the refinancing of the Wausau Portfolio, which consists of five market-rate multifamily apartment properties located in Wausau in central Wisconsin. The properties include Apple Apartments, Black Berry Circle Duplexes, Cedar Creek Apartments, Eva Estates Luxury Apartments and Eva III Luxury Apartments. The 10-year, Fannie Mae loan includes a 30-year amortization. OWS LLC was the borrower.
PANORAMA CITY, CALIF.— Meridian Capital Group has secured a $40 million refinancing for The Plant, a 219,922-square-foot retail power center located in Panorama City. Seth Grossman and Jackie Tran of Meridian arranged the five-year balance sheet loan featuring full-term, interest-only payments on behalf of the borrower, Decron Properties. Citibank provided the capital. Tenants at The Plant include Regency Theatres, Ross Dress for Less, Old Navy, Forever 21, PetSmart, Party City, Home Depot and In-N-Out Burger.
IRVING, TEXAS — Dougherty Mortgage LLC has closed an $8.9 million Fannie Mae loan to fund the acquisition of The Monterey Apartment Homes, a 159-unit multifamily property located in Irving. The seven-year loan features a 30-year amortization schedule and one year of interest-only payments. Dougherty Mortgage arranged the loan through Old Capital Lending on behalf of the borrower, Elmstone Group OP2 LLC.
NEW YORK CITY — Newmark Holdings has received a $9.6 million refinancing loan for two office buildings in New York City. Signature Bank provided the loan, which features a fixed rate for seven years. Totaling 56,000 square feet, the fully occupied buildings are located at 416-422 W. 45th St.
REDDING, CALIF. — CBRE has arranged an undisclosed amount of financing for Ray Stone Inc., which will use the capital to acquire River Oaks Retirement Community, a 102-unit independent living community in Redding, approximately 160 miles north of Sacramento. CBRE Multifamily Capital originated a fixed-rate loan through its Fannie Mae DUS multifamily loan origination program. Ray Stone will operate the property following the sale. CBRE’s Kevin Randles and Aron Will arranged the financing.
NEW CASTLE COUNTY, DEL. — U.S. Realty Capital has originated $31 million in permanent financing for a multifamily complex located in northern New Castle County. The financing will replace an existing construction loan on the newly built 218-unit property. The property had significant pre-leasing activity and overall occupancy was close to 100 percent at completion. The property features a fitness center, pool and 9,000 square feet of retail space. Bruce Robertson Jr. and Jane Bender of U.S. Realty Capital arranged the financing for the undisclosed borrower.
