Loans

EagleBridge Capital Arranges $2.5M in Financing for Industrial Property in Connecticut

by Amy Works January 21, 2016

FARMINGTON, CONN. — EagleBridge Capital has arranged $2.5 million in permanent mortgage financing for an industrial property located at 21 Hyde Road in Farmington. The 113,425-square-foot property features 6,500 square feet of office space, 106,925 square feet of warehouse and distribution space, clear heights ranging from 24 feet to 30 feet, 10 loading docks and parking for 190 vehicles. The property is currently leased to Dealer Tire, a national tire, maintenance and light repair product distribution company. Brian Sheehan and Ted Sidel of EagleBridge arranged the loan for the undisclosed borrower.

January 21, 2016

Florida Loans Seniors Housing Southeast

Cushman & Wakefield Arranges $28.7M Loan for Seniors Housing Property in Tampa

by John Nelson January 21, 2016

TAMPA, FLA. — Cushman & Wakefield’s Equity, Debt & Structured Finance group has arranged a $28.7 million acquisition and redevelopment loan for Renaissance Senior Living, a 226-unit seniors housing community in Tampa. The borrower was The Carlyle Group, which will acquire the property and perform significant renovations. Changes include putting the levels of care offered — independent living, assisted living and memory care — into separate buildings, as well as enhancements to community amenities. Jay Wagner and Timothy Hosmer of Cushman & Wakefield’s National Senior Housing Capital Markets team arranged the financing through an unnamed regional bank.

January 21, 2016

Loans Multifamily South Carolina Southeast

NorthMarq Capital Arranges $10M Loan for Apartment Community in Upstate South Carolina

by John Nelson January 21, 2016

GREER, S.C. — NorthMarq Capital has arranged the $10 million refinancing of Halcyon at Cross Creek Apartments, a 152-unit multifamily community located at 1200 Halcyon Circle in Greer. Bill Matone of NorthMarq’s Charlotte office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac.

January 21, 2016

California Industrial Loans Western

NorthMarq Arranges $29M Refinancing for Airport Center Industrial Facility in Ontario

by Nellie Day January 21, 2016

ONTARIO, CALIF. — NorthMarq Capital has arranged a $29 million refinancing for Airport Center, a 600,000-square-foot industrial property in Ontario. The property is located at 1460 S. Archibald Ave. Financing featured a six-month forward rate lock, along with a 10-year term and 25-year amortization schedule. Robert R. Hervey and Joe Giordani of NorthMarq Capital’s Los Angeles regional office arranged the loan.

January 21, 2016

Loans Multifamily New Jersey Northeast

HFF Secures $63.5M in Financing for Development of Multifamily Community in New Jersey

by Amy Works January 20, 2016

JERSEY CITY, N.J. — HFF has secured $63.5 million in financing for the development of the first phase of 207 Van Vorst, a proposed two-phase, 408-unit luxury multifamily community in Jersey City. HFF worked on behalf of 207 Van Vorst Street Realty Company, a joint venture between institutional investors advised by J.P Morgan Asset Management – Global Real Assets and Fields Development Group, to place the loan with Wells Fargo Bank. Slated for completion in 2017, the 255-unit first phase will feature a mix of studio, one-, two- and three-bedroom residential apartment units and two ground-floor retail spaces totaling 7,237 square feet. Community amenities will include a rooftop swimming pool, fitness center, 24-hour concierge, landscaped courtyard, club room, children’s playroom and a 254-space AutoMotion parking system. Thomas Didio of HFF represented the borrower in the financing.

January 20, 2016

Loans Retail Texas

HFF Secures $247.5M Refinancing of Retail Portfolio in Houston, Dallas and San Antonio

by Haisten Willis January 20, 2016

HOUSTON, DALLAS AND SAN ANTONIO — HFF has arranged a $247.5 million refinancing for a retail portfolio totaling 20 properties and 2.1 million square feet in Houston, Dallas and San Antonio. HFF worked on behalf of the borrower, Global Fund Investments, to place the long-term, fixed-rate loan with TIAA-CREF. Loan proceeds were used to refinance existing debt and recapitalize the properties. The portfolio is 95 percent leased to 414 tenants, including H-E-B, Kroger, Kohl’s, LA Fitness, Petco, Golfsmith, 24 Hour Fitness, Starbucks and T.J. Maxx. Twelve of the retail centers are in Houston or Houston-area suburbs. The Dallas-Fort Worth area houses seven of the portfolio properties, and one of the retail centers is located in San Antonio. Mike Tepedino, Michael Gigliotti and Cameron Cureton led HFF’s debt placement team.

January 20, 2016

Loans Multifamily Texas

LMI Secures Multifamily Acquisition Loans in Metro Houston

by Haisten Willis January 20, 2016

GALVESTON AND HOUSTON, TEXAS — Jamie Safier of LMI Capital has procured financing for a two-phase complex in Galveston that includes a historic building component. The loan represented 84 percent of the purchase price and featured a five-year fixed term with one year of interest-only payments and no pre-payment restrictions. The borrower was a first-time buyer of commercial properties and plans to use a portion of the proceeds to enhance the property’s interior and exterior appeal. Brandon Brown of LMI originated a second transaction to close a $7 million loan for a garden-style community in west Houston containing nearly 300 units. An agency loan was assumed and closed simultaneously with a supplemental loan that reduced the borrower’s required equity needed for the acquisition.

January 20, 2016

Loans Multifamily Texas

BMC Capital Provides Trio of Loans for Texas Multifamily Properties

by Haisten Willis January 20, 2016

NACOGDOCHES, CORPUS CHRISTI AND TYLER, TEXAS — BMC Capital’s Dallas office has arranged a trio of loans for multifamily properties in Texas. In the first transaction, BMC arranged a $2.2 million loan for the refinancing of Northview Condominiums, a 72-unit multifamily property located in Nacogdoches. The loan featured a 10-year fixed term at 5 percent interest and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s corresponding agency relationships. In the second transaction, BMC arranged a $3.9 million loan for the purchase of Bordeaux Apartments, a 102-unit multifamily property located in Corpus Christi. The loan featured a 10-year fixed term at 4.7 percent interest and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s corresponding agency relationships. In the third transaction, BMC arranged a $3.6 million loan for the refinancing of Oxford Pointe Apartments, a 152-unit multifamily property located in Tyler. The loan featured a seven-year fixed term at 3.9 percent interest and a 30-year amortization schedule.

January 20, 2016

Florida Loans Multifamily Southeast Student Housing

Franklin Street Capital Advisors Closes $20M Loan for Student Housing Property in Tampa

by John Nelson January 20, 2016

TAMPA, FLA. — Franklin Street Capital Advisors (FSCA) has closed the $20 million refinancing of Campus Palms Apartments, a 570-bed student housing property in Tampa. Ben Miller and Casey Siggins of FSCA arranged the 10-year loan on behalf of a private investor based in Miami. The non-recourse loan features a fixed 4.85 percent interest rate and a 30-year amortization schedule.

January 20, 2016

California Loans Multifamily Western

Oakmont Properties Receives $100M Loan to Buy Sacramento Apartment Properties

by Nellie Day January 20, 2016

SACRAMENTO, CALIF. — Oakmont Properties has received more than $100 million in senior loans to acquire to two apartment communities in the Sacramento area. The properties include The Preserve at Roseville, a 336-unit community, as well as the 304-unit Oak Brook Apartments. The Preserve is located at 1299 Antelope Creek Drive in Roseville. It was 97 percent occupied at the time of sale. The Class A property was built in 1999. Oak Brook is located at 12499 Folsom Blvd. in Rancho Cordova. It was also 97 percent occupied. This Class A property was built in 2001. PCCP provided the loans, which are cross-collateralized with each other.

January 20, 2016

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