NEWARK, N.J. — Kuwait-based KFH Capital Investment Co. has received $107.3 million in financing for the acquisition of Two Riverfront Plaza, a 337,543-square-foot office tower in Newark. James Gunning, Donna Falzarano and Stephen Joseph of CBRE’s Saddle Brook, N.J., office secured the loan, which was provided by Ladder Capital. KFH Capital Investment Co. acquired the 12-story office tower for $165 million. The property is fully occupied by Panasonic Corp. through April 2031. The acquisition was previously announced in early December.
FALL RIVER, MASS. — CBRE/New England has secured a $31.5 million Fannie Mae loan to finance the acquisition of South Winds Apartments, a 404-unit residential community located in Fall River. Boston-based Taurus Investment Holdings acquired the property for $39.3 million, or $97,400 per unit. Built in 1971, the property comprises 26 buildings featuring a total of 146 one-bedroom, 218 two-bedroom and 40 three-bedroom units. John Kelly and Matt Marshall of CBRE/NE secured financing for the buyer.
ORANGE GROVE, TEXAS — ReadyCap Commercial has closed a $4 million Freddie Mac Multifamily loan for the refinancing of a multifamily property in Orange Grove. The loan features a 10-year term and a 30-year amortization schedule. Additional details of the loan and property were not released.
MADISON, WIS. — Dwight Capital has provided a $19.8 million loan for the refinancing of Blackhawk Trails Apartments in Madison. The property consists of 196 units. The 35-year loan was financed through HUD’s 223(a)(7) program at an interest rate of 3.6 percent. Blackhawk Trails LLC was the borrower. Adam Sasouness of Dwight Capital originated the loan.
COLUMBUS, OHIO — Dougherty Mortgage has provided a $5.1 million Fannie Mae loan for the refinancing of Ponderosa Village Apartments in Columbus. The property includes 119 units. The 10-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. Wolfe Sumrok LBC LLC was the borrower.
UTICA, N.Y. — KeyBank Community Development Lending and Investment has provided a $7.6 million construction loan to Rescue Mission of Utica Inc. The loan will be used to construct West Street Apartments, a 42-unit low-income housing tax credit and supportive service property in Utica. Lynne Callis-Wilson of KeyBank arranged the construction loan.
CHAMPAIGN, ILL. — Maverick Commercial Mortage Inc. has arranged a $1.7 million first mortgage loan for a to-be built Portillo’s restaurant in Champaign in central Illinois. The restaurant will be constructed on a 1.4-acre site. The restaurant is expected to open shortly after demolition of the current Home Town Buffet. The six-month loan has two three-month extension options. The fixed-rate, recourse loan is interest only and was funded by a national bridge lender. Jeffrey B. Gurian of BeckerGurian represented the borrower, Berkshire Partners. Bryan Segal of Barack, Ferrazzano, Kirschbaum and Nagelberg LLP represented the lender.
WILMINGTON, N.C. — KeyBank Real Estate Capital has arranged $42.5 million in Freddie Mac loans for the refinancing of a four-property multifamily portfolio in Wilmington. The assets total 695 units and include Hawthorne at New Centre, Hawthorne Commons, Hawthorne Centre North and Hawthorne Lofts. All four properties were constructed between 1990 and 1998 and were renovated in 2014. Timothy DeWispelaere of KeyBank arranged the financing with a 10-year term, five years of interest-only payments and a 30-year amortization schedule.
BETHESDA, MD. — Natixis has provided a $26.5 million, floating-rate loan for Shops of Wisconsin, a 71,748-square-foot neighborhood shopping center in Bethesda. The borrower, Douglas Development, will use the proceeds to refinance the property and provide funds for the tenant improvements of the new Target Express. In addition to the new Target Express, the center also contains nine other national and local tenants, including Trader Joe’s, Gymboree, Jenny Craig and H&R Block.
BEAR, DEL. — Delle Donne & Associates has received a $35 million loan for the refinancing of Governor’s Square Shopping Center, a fully leased retail property located at 401 Governor’s Place in Bear, a suburb of Wilmington, Del. Loan proceeds will be used to retire existing debt. The 294,213-square-foot, two-building property is occupied by ShopRite, Kmart, American Signature Furniture, Rite Aid, Sneaker Villa H&R Block, Karate for Kids, RadioShack, Bear Chiropractic, Subway and GameStop. The center also includes three pad sites leased to Wells Fargo, Taco Bell and McDonald’s. Ryan Ade of HFF secured the financing for the borrower.