Loans

CBRE/NE Secures $9.1M Acquisition Financing for Two Industrial Properties in Massachusetts

by Amy Works May 16, 2016

MARLBOROUGH, MASS. — CBRE/New England’s Debt & Structured Finance team secured $9.1 million in acquisition financing for Calare Properties Inc. The company used loan proceeds to purchase two industrial/flex properties located at 261 Cedar Hill St. and 753 Forest St. within Cedar Hills Business Park in Marlborough. 261 Cedar Street is a 59,404-square-foot industrial/flex building that is fully occupied by four long-term tenants with staggered lease expiration dates. 753 Forest Street is a 75,000-square-foot property fully leased to five tenants. HarborOne Bank provided the financing. Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE arranged the financing for the borrower.

May 16, 2016

District of Columbia Loans Multifamily Southeast

Federal Capital Partners Provides $20.6M Construction Loan for D.C. Apartment Community

by John Nelson May 16, 2016

WASHINGTON, D.C. — Federal Capital Partners (FCP) has provided a $20.6 million mezzanine loan to finance the development of a 197-unit, Class A apartment community located at 1255 22nd St. N.W. in Washington, D.C.’s West End neighborhood. Eagle Bank provided the senior financing for the project, which will include the ground-up construction of a connected nine-story, 65-unit apartment building with five, two-story carriage homes with private parking. The development will comprise a mix of studios, one-bedroom and two-bedroom apartments, as well as a fitness center, rooftop pool and 5,000 square feet of retail space. The co-developers include Tasea Investment Co. and the Auger family. Peter Witham of The Greenwich Group International arranged the loan on behalf of the developers. Construction will begin in June.

May 16, 2016

Loans Multifamily Texas

Dougherty Secures $6.7M Fannie Mae Loan for Apartments in San Antonio

by Haisten Willis May 16, 2016

SAN ANTONIO — Dougherty Mortgage has secured a $6.7 million Fannie Mae loan for the acquisition of Edge Studio Apartments, a 128-unit market rate multifamily apartment property located in San Antonio. The 12-year Fannie Mae loan includes two years of interest-only payments and a 30-year amortization schedule. The loan was arranged for borrower Bluemel 2016 LLC through a partnership with Old Capital Lending and Dougherty’s Vienna, Va. office.

May 16, 2016

Loans Multifamily Texas

BMC Capital Provides $1.7M Loan for Multifamily Property in Dallas

by Haisten Willis May 16, 2016

DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $1.7 million loan for the cash-out refinance of a multifamily property located in Dallas. The loan featured a 3.5 percent, seven-year fixed rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.

May 16, 2016

California Loans Retail Western

NorthMarq Capital Arranges $3M in Acquisition Financing for Mixed-Use Property in Los Angeles

by Nellie Day May 16, 2016

LOS ANGELES — NorthMarq Capital has arranged $3 million in acquisition financing for 24th & Vermont, a 19,280-square-foot mixed-use property located at 451-467 N. Western Ave. in Los Angeles. The transaction was structured with a 10-year term with three years of interest-only payments, followed by a 27-year amortization schedule. David Blum of NorthMarq arranged the financing for the borrower through a regional bank.

May 16, 2016

Loans Midwest Multifamily Nebraska

NorthMarq Capital Arranges $4M Refinancing Loan for 126-Unit Apartment Property

by Christina Cannon May 16, 2016

OMAHA — NorthMarq Capital has arranged a $4 million dollar refinancing loan for Cedar Heights Apartments, a 126-unit multifamily property in Omaha. Jason Kinnison of NorthMarq arranged the financing for the undisclosed borrower through a relationship with a life insurance company. Amenities at Cedar Heights Apartments include a clubhouse, pool, pet play area and a grill and picnic area.

May 16, 2016

Loans Midwest Multifamily Ohio Seniors Housing

Harborview Closes $73M in Financing for Skilled Nursing Operator CommuniCare

by Christina Cannon May 13, 2016

BLUE ASH, OHIO — Harborview Capital Partners has arranged $73 million in loans for the refinancing of a skilled nursing portfolio operated by CommuniCare, a healthcare owner-operator based in the Cincinnati suburb of Blue Ash. The nine-building portfolio includes 936 beds and is located throughout Ohio and Maryland. The financing consists of a $12 million revolver loan and a $61 million bridge-to-HUD loan. The capital stack was further enhanced by a mezzanine loan in the amount of $8.5 million. The funds were used to refinance existing debt, exercise purchase options and consolidate balance sheets in preparation for bringing the portfolio to HUD. The five-year, floating-rate loan is non-recourse and has a LIBOR-based interest rate with one year of interest-only payments. Ephraim Kutner and Jonathan Kutner, both principals with Harborview, originated the loan. Gershon Yarmush, senior loan analyst, negotiated the terms.

May 13, 2016

Loans Multifamily New Hampshire Northeast

NorthMarq Capital Arranges $2.3M in Refinancing for New Hampshire Apartment Building

by Amy Works May 13, 2016

MANCHESTER, N.H. — NorthMarq Capital has arranged $2.3 million in refinancing for an apartment building located on Hayward Street in Manchester. The long-term, fixed-rate financing includes a flexible prepayment and competitive rate. The apartment building features 26 residential units. Michael Chase and Ed Riekstins of NorthMarq Capital secured the financing for the undisclosed borrower.

May 13, 2016

California Loans Retail Western

NorthMarq Capital Arranges $6M Refinancing for Skyline Center in Thousand Oaks

by Nellie Day May 13, 2016

THOUSAND OAKS, CALIF. — NorthMarq Capital has arranged the $6 million refinancing of Skyline Center, a 36,900-square-foot retail property located in Thousand Oaks. The 10-year, non-recourse loan features a 30-year amortization schedule and a seven-year fixed rate that will switch to floating for the last three years. Joe Giordani of NorthMarq’s Los Angeles office secured the financing for the undisclosed borrower.

May 13, 2016

Loans Multifamily New York Northeast

JDS Development Receives $52M Construction Loan for Apartment Development in Brooklyn

by Amy Works May 12, 2016

NEW YORK CITY — JDS Development has received $52 million in construction financing for an apartment building in Brooklyn’s Park Slope neighborhood. Located at the corner of Baltic Street and Fourth Avenue, the 11-story building will feature 50 apartment units and ground-floor retail space. The property is slated for completion by summer 2017. Douglas Heitner, Sara Saylor, Jessica Wald and Christina Congdon of Kasowitz represented the borrower in the financing transaction.

May 12, 2016

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