SAN MARCOS, TEXAS — BMC Capital has arranged the $6.2 million refinancing of a North Carolina Furniture Direct store located in San Marcos. The five-year, fixed-rate loan features a 25-year amortization schedule. Hank Crane of BMC secured the financing on behalf of the borrower through an undisclosed bank.
BELLEVUE, WIS. — Cohen Financial has secured $9.4 million in acquisition financing for Bellevue Town Center, a retail center located in Bellevue near Green Bay. Dan Rosenberg and Matt Terpstra of Cohen arranged fixed-rate, 10-year loan for the borrower, Midland Atlantic Properties. The 75,000-square-foot retail center is anchored by a Pick ’n Save grocery store.
YONKERS, N.Y. — Housing & Healthcare Finance (HHC Finance) has arranged $27 million in refinancing for an assisted/independent living community in Yonkers. Located on 10 acres, the 195-bed property is the only facility in the area with the Medicaid Assisted Living Program. HHC Finance arranged the financing with an interest rate below 3 percent through HUD for the undisclosed borrower.
MOBILE, ALA. — Wool Finance Partners has arranged a $7.9 million construction loan for the development of a 101,000-square-foot Publix-anchored shopping center in Mobile. The shopping center is a joint venture between Charlotte-based MAB American Retail Partners LLC and Oak Brook, Ill.-based Inland Retail Centers LLC. Publix will occupy a freestanding, 39,000-square-foot store within the development. Matt Lebenson of Wool Finance arranged the two-year construction loan through an unnamed regional bank. The loan features a 55 percent loan-to-cost ratio and an extension option for the joint venture.
GREENBURGH, N.Y. — Houlihan-Parnes Realtors has placed a $4.2 million first mortgage for an office building located at 297 Knollwood Road in Greenburgh, a suburb of White Plains, N.Y. The non-recourse loan features a 4 percent fixed interest rate for 10 years. A 10,000-square-foot branch of the General Services of America – US Social Security Administration occupies the 35,000-square-foot building. Andrew Greenspan of Houlihan-Parnes Realtors closed the loan, while Lee Pollock of Pollock & McGuire LLP represented the undisclosed borrower.
TROY, MICH. — Vista Capital Co. has closed $16 million in refinancing for the Homewood Suites located in Troy, a northern Detroit suburb. Part of the 10-year loan will be used to fund renovations over the next five years. The financing was awarded to a European-based investment bank. Opened in 2002, the Homewood Suites in Troy features 150 suites, an indoor heated pool, fitness center, executive business center and approximately 1,200 square feet of meeting space.
DETROIT — Pillar has originated an $11.8 million Fannie Mae DUS loan for Detroit Savings Bank Apartments in downtown Detroit. The 10-year term loan features a 30-year amortization schedule. David Wilkins of Pillar originated the financing for Capitol Park Partnership. Built in 1895, the 12-story building features 56 market-rate apartment units on the top seven floors and The Archdiocese of Detroit on the first five floors.
PLEASANT HILL, IOWA — NorthMarq Capital has closed a $6.2 million refinancing for Golf View Apartments, a multifamily property located in Pleasant Hill near Des Moines. Jason Kinnison of NorthMarq’s Omaha office arranged the financing for the undisclosed borrower. The multifamily property features 84 apartment units.
RIVERSIDE, CALIF. — Meridian Capital Group has arranged $12.5 million in CMBS financing for the refinance of Tyler Gateway Shopping Center in Riverside. The borrower was The Festival Companies, a Los Angeles-based developer and operator of retail and mixed-use properties. The 10-year loan, provided by a CMBS lender, features five years of interest-only payments and a fixed interest rate. Seth Grossman and Andy Strauss of Meridian negotiated the financing. Tyler Gateway Shopping Center consists of two retail buildings located at 3502 Tyler St. in Riverside. Totaling 25,000 square feet, the buildings are occupied by Ulta Beauty, AT&T, Habit Grill, Panera Bread, Chipotle Mexican Grill and Yogurtland.
TERRE HAUTE, IND. — AMS Health Care Mortgage Corp., Piper Jaffray & Co. and JLL Capital Markets have closed on the funding of a $266.6 million FHA/GNMA-insured mortgage loan for Union Hospital in Terre Haute. Founded in 1892, Union Health provides care for the 277,657 residents of west central Indiana and eastern Illinois. The regional healthcare system is comprised of the flagship Union Hospital (Terre Haute), a 347-bed acute care hospital; Union Hospital Clinton, a 25-bed critical access hospital; and two rural health clinics (Clay City, Ind., and Marshall, Ill.), employing a total of 2,878 physicians and staff. The loan refinancing, insured under HUD’s Section 242 Mortgage Insurance for Hospitals program, significantly reduces the system’s annual debt service, saving Union Health and its patients approximately $148 million over the life of the loan. AMS is an FHA-approved mortgage lender that specializes in obtaining financing for hospitals. Piper Jaffray, an investment bank specializing in healthcare finance, worked closely with AMS in structuring the transaction, assisting Union Health in defeasing its existing tax-exempt debt and placing the GNMA securities with end investors. JLL, working closely with AMS and Piper Jaffray, is the FHA mortgagee of record and will service the loan over …