Loans

Grandbridge Facilitates $30.2M Loan for Seniors Housing Community in Massachusetts

by Amy Works March 31, 2016

NORTH ANDOVER, MASS. — Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance team has closed a $30.2 million permanent, floating-rate loan for Brightview North Andover, a seniors housing property. Located at 1275 Turnpike St. in North Andover, the facility features 133 independent and assisted living units, as well as a memory care component. The refinancing was arranged through Fannie Mae’s DUS Structured Adjustable Rate Mortgage loan product. Richard Thomas and Meredith Davis of Grandbridge secured the loan for the undisclosed borrower.

March 31, 2016

Loans Multifamily New York Northeast Seniors Housing

Lancaster Pollard Arranges $9.2M Loan for Assisted Living Facility in New York

by Amy Works March 31, 2016

NISKAYUNA, N.Y. — Lancaster Pollard has arranged $9.2 million in refinancing insured by the FHA Sec. 232/2223(f) program for Ingersoll Place Assisted Living, a 57-unit senior living facility located in Niskayuna. Proceeds of the financing paid off a tax-exempt bond obligation and terminated an interest rate swap liability. Additionally, the new FHA-insured loan generated more than $100,000 in annual cash flow savings for the assisted living provider. Tom Grywalski of Lancaster Pollard secured the financing for the undisclosed borrower.

March 31, 2016

Affordable Housing Loans Multifamily Northeast Pennsylvania

KeyBank Provides $5.4M Loan for Affordable Housing Property in Pennsylvania

by Amy Works March 31, 2016

CORAOPOLIS, PA. — KeyBank has provided a $5.4 million bridge loan for State Manor Apartments, a multifamily community located at 1020 State Ave. in Coraopolis, a suburb 12 miles northwest of Pittsburgh. SMA Cory PA LLC will use the loan to acquire the high-rise property, which features 104 affordable apartment units. Kelly Frank of Key’s Community Development Lending group arranged the financing for the borrower.

March 31, 2016

Loans Midwest Ohio Retail

BMC Capital Arranges $3.6M Acquisition Loan for Property Net Leased to Walgreens

by Christina Cannon March 31, 2016

LIBERTY TOWNSHIP, OHIO — BMC Capital has arranged a $3.6 million acquisition loan for a property net leased to Walgreens in Liberty Township, approximately 30 miles north of Cincinnati. The 10-year, interest-only loan features a fixed rate of 5.23 percent and a 30-year amortization schedule. Jada Jordan of BMC Capital arranged the loan for the undisclosed borrower through a CMBS lender.

March 31, 2016

Loans Louisiana Multifamily Southeast

Dougherty Mortgage Closes $29M HUD Loan for Apartment Community in New Orleans MSA

by John Nelson March 31, 2016

GRETNA, LA. — Dougherty Mortgage LLC has closed a $29 million HUD 223(f) loan for the refinancing of Calypso Bay Apartments, a 280-unit multifamily community in Gretna, situated across the Mississippi River from New Orleans. The property offers one-, two- and three-bedroom units and features a swimming pool, fitness center, billiards room and a business center. Dougherty’s Dallas office arranged the 40-year HUD 223(f) loan on behalf of the borrower, Calypso Bay LLC.

March 31, 2016

Plaza Towers Apartments 6700 Belcrest Road Hyattsville

Loans Maryland Multifamily Southeast

NorthMarq Capital Arranges $25M Loan for Apartment Community in Metro D.C.

by John Nelson March 31, 2016

HYATTSVILLE, MD. — NorthMarq Capital has arranged a $25 million loan for the refinancing of Plaza Towers Apartments in Hyattsville, a suburb of Washington, D.C. Built in 1963, the 289-unit, 11-story property is located at 6700 Belcrest Road. The building features a key-controlled entrance lobby, an office with a conference room, fitness and laundry rooms and access to an adjacent pool and tennis courts. Doug Westfall and Jonathan Hiller of NorthMarq Capital arranged the refinancing through its Fannie Mae DUS program.

March 31, 2016

Loans Northeast Office Pennsylvania

Mission Capital Arranges $16.5M Loan for Valley Square Office Complex in Pennsylvania

by Amy Works March 30, 2016

BLUE BELL, PA. — Mission Capital Advisors has arranged a $16.5 million bridge loan for Valley Square, an office complex located at 512 Township Line Road in Blue Bell. Steven Buchwald and Lexington Henn of Mission Capital secured the loan for the borrower, Contrarian Capital Management. After acquiring the five-building, 289,194-square-foot complex in 2013 for $8.5 million, Contrarian and its operating partner, Corvest Realty Group, implemented millions of dollars of capital improvements at the property and substantially leased many of the upgraded buildings. Originally constructed in 1983, the property is located approximately 20 miles northwest of Philadelphia.

March 30, 2016

Loans Multifamily Seniors Housing Texas

Dougherty Secures $3M Loan for Seniors Housing Complex in Metro Dallas

by Haisten Willis March 30, 2016

DESOTO, TEXAS — Dougherty Mortgage LLC has secured a $3 million HUD loan for the refinancing of Cedar Green Living Center, a 105-unit seniors housing property located in DeSoto. Dougherty’s Dallas office arranged the 33-year loan on behalf of the borrower, Senior Christian Living Foundation.

March 30, 2016

Equitable Building 100 Peachtree Atlanta

Georgia Loans Office Southeast

Principal Global Investors Provides $43.3M Loan for Equitable Building in Atlanta’s CBD

by John Nelson March 30, 2016

ATLANTA — Principal Global Investors has provided a $43.3 million loan for 100 Peachtree, a 625,424-square-foot, Class A office tower in Atlanta’s central business district (CBD). Known locally as the Equitable Building, the 32-story office tower features a conference center with a boardroom, three conference rooms, a mock courtroom, fitness center, dry cleaner, florist, FedEx-Kinko’s, Dunkin’ Donuts, Starbucks and parking for 928 vehicles. The asset was 61 percent leased at the time of sale to tenants such as Koch Properties, Accenture, Fulton County Public Defender, Atlanta BeltLine Inc. and McGuire Woods LLP. Mark Sixour and Gregg Shapiro of HFF arranged the four-year, floating-rate loan on behalf of the borrower, an affiliate of Five Mile Capital Partners LLC, which plans to refinance an existing loan and provide funds for capital improvements, tenant improvements and leasing commissions.

March 30, 2016

Florida Loans Retail Southeast

Aztec Group Secures $26M Construction Loan for Phase II of Riverbend Marketplace in Fort Lauderdale

by John Nelson March 30, 2016

FORT LAUDERDALE, FLA. — Aztec Group has secured a $26 million construction loan for Phase II of Riverbend Marketplace, a 37-acre, Walmart-anchored development in Fort Lauderdale. The 189,000-square-foot Walmart Supercenter opened in January 2016 and sold earlier this month for $26.1 million. Phase II of Riverbend Marketplace will consist of 83,000 square feet of retail and restaurants and five outparcels. The borrower, an affiliate of Gatlin Development Co., broke ground on Phase II earlier this month. The new tenants joining Riverbend Marketplace include Planet Fitness, Chipotle, Lucky Me and T-Mobile. The new outparcel tenants will include Wawa, Krispy Kreme and McDonald’s.

March 30, 2016

Newer Posts

Older Posts