Loans

Greystone Provides $58M Loan for Apartment Community in Metro Atlanta

by John Nelson October 14, 2015

MARIETTA, GA. — Greystone has provided a $58 million bridge loan to recapitalize the ownership of Watermark at East Cobb, a 510-unit apartment property in Marietta, a northern suburb of Atlanta. The apartment community features two resort-style pools, tennis courts, an athletic center, playground, volleyball courts, outdoor kitchen, nature trail, fishing lake and a pet park. Keith Hires and Greg Krafcik of Greystone originated the three-year bridge loan on behalf of the borrower, Cortland Partners. Mike Galla and David Collie of iCap Realty Advisors arranged the loan, which Cortland Partners will use to repay current debt, recapitalize membership interests and position for permanent financing.

October 14, 2015

Loans Michigan Midwest Retail

Bernard Financial Arranges $4.3M Loan for Retail Property in Traverse City, Mich.

by Christina Cannon October 13, 2015

TRAVERSE CITY, MICH. — Bernard Financial Group has arranged a $4.3 million loan for Airport 31 Retail Center. The 65,000-square-foot space is located in Traverse City. Airport 31 LLC is the borrowing entity. Assurity Life Insurance Co. is the lender, and Bernard Financial Group will service the loan. Dave Dismondy of Bernard Financial originated the loan.

October 13, 2015

Loans Retail Texas

Transwestern Brokers Sale, Financing for Shopping Center in Metro Houston

by Haisten Willis October 13, 2015

PASADENA, TEXAS — Transwestern’s Houston headquarters has brokered the sale of Fairmont Parkway Shopping Center. An undisclosed South American buyer acquired the 172,002-square-foot power center located at the intersection of Beltway 8 and Fairmont Parkway in Pasadena for an undisclosed price. Micha van Marcke, Paul Barile, Janice Sellis and Chace Henke of Transwestern represented the seller, A-S 82 Fairmont Parkway — Beltway 8 LP. Jan Sparks, Michael Snodgrass and Tim Bennett of Transwestern secured the debt for the buyer. Fairmont Parkway Shopping Center is located in a regional retail hub for Pasadena and communities such as Deer Park and La Porte. The area consists of 1 million square feet of retail. Fairmont Parkway Shopping Center’s tenants include 24-Hour Fitness, iT’Z Family, Comerica Bank, Goodwill, Pei Wei and Food & Fun. The property was 96 percent occupied at the time of sale.

October 13, 2015

Arizona Loans Multifamily Seniors Housing Western

CBRE Arranges $25M Construction Financing for 129-Unit Seniors Housing Community in Arizona

by Nellie Day October 12, 2015

TUSCON, ARIZ. — CBRE National Senior Housing has arranged a $25 million construction loan for Hacienda at The River, a 129-unit assisted living, memory care and skilled nursing community in Tuscon. A joint venture of The Freshwater Group and Watermark Retirement Communities is developing the community on a 5.75 acre plot. When completed, Watermark will manage the community. Aron Will, executive vice president of CBRE National Senior Housing, and Jim Sellers and Tim Prouty, both senior vice presidents of the CBRE Debt & Structured Finance office in Tucson, secured a three-year, floating-rate loan that then converts to a three-year, mini-perm loan. The loan was placed through a regional bank. Based in Tuscon, Watermark is the 13th largest operator of seniors housing communities in the U.S. with 38 communities comprising 7,483 units, according to 2015 data from the American Seniors Housing Association.

October 12, 2015

Loans Midwest Nebraska Retail

Q10 | Daisley Ruff Financial Corp. Arranges $2.5M Refinancing for Retail Center in Lincoln, Neb.

by Christina Cannon October 12, 2015

LINCOLN, NEB. — Q10 | Daisley Ruff Financial Corp. has arranged a $2.5 million refinancing loan for Meadowlane Shopping Center in Lincoln. The property consists of a 34,600-square-foot retail strip center, a 6,000-square-foot freestanding retail building and a 27,389-square-foot mixed-use building. Ace Hardware anchors the strip center. Other tenants of the strip center include Honest Abe’s, Great Wall, The Fit Canine and Slideware Electronics. Subway and One More Bar are the tenants in the freestanding building. Steve Ruff and Eric Petersen of Q10 | Daisley Ruff Financial Corp. arranged the transaction. The long-term, fixed-rate loan is fully amortizing. The lender, borrower and all other details of the transaction were undisclosed.

October 12, 2015

Brookwood Terrace Apartments Murfreesboro Tennessee

Loans Multifamily Southeast Tennessee

Walker & Dunlop Originates $4.7M HUD Loan for Apartment Community in Tennessee

by John Nelson October 12, 2015

MURFREESBORO, TENN. — Walker & Dunlop has originated a $4.7 million loan for Brookwood Terrace Apartments located at 2743 S. Rutherford Blvd. in Murfreesboro. Built in 2009, the apartment community features one-, two- and three-bedroom apartment residences with fully equipped kitchens, washer and dryer units and ceramic tiled bathrooms and foyer. Common area amenities include free Wi-Fi, a clubhouse and a business center. All of the residential units are at 60 percent or less of the Area Median Income. David Strange and Keith Melton of Walker & Dunlop structured the loan as a 223(a)(7) HUD refinance of an existing 221(d)(4) HUD loan. The 40-year, fully amortizing loan has a fixed interest rate.

October 12, 2015

Loans Retail Texas

Q10 KDH Arranges Financing for The Centre at Greatwood in Houston

by Haisten Willis October 9, 2015

HOUSTON — Q10 Kinghorn, Driver, Hough & Co.’s Emily Zarcaro and Matt Franke have secured permanent financing for The Centre at Greatwood, a fully occupied, single-story retail center in Sugar Land. Q10 KDH arranged the loan through Symetra on behalf of the undisclosed borrower.

October 9, 2015

Iowa Loans Midwest Multifamily

NorthMarq Capital Secures $1.8M Refinancing for Three Multifamily Properties in Iowa

by Christina Cannon October 9, 2015

CEDAR RAPIDS AND MERION, IOWA — NorthMarq Capital has secured a $1.8 million refinance loan of three multifamily properties located in Iowa. The three properties include a combined 64 units. Westcove Apartments, Kimberly Square and Residence on 11th are the three communities that were refinanced. The transaction was structured with a fully amortizing 20-year term. All other details of the transaction were undisclosed.

October 9, 2015

Loans Office Southeast Virginia

HFF Secures $30M Loan for Class A Office Building in Tysons Corner District

by John Nelson October 9, 2015

MCLEAN, VA. — HFF has secured a $30 million bridge loan for a 152,000-square-foot, Class A office building located at 1550 Westbranch Drive in the Tysons Corner area of McLean. Completed in 2001, the six-story building is fully leased to MITRE Corp., a not-for-profit organization, through late 2016. Amenities at 1550 Westbranch include a conference center and break-out area, fitness center with shower facilities, café and a 470-space covered parking garage. Daniel McIntyre led HFF’s debt placement team in arranging the three-year, floating-rate loan through EagleBank on behalf of the borrowers, affiliates of Griffith Properties LLC and Reubenstein Partners. The loan has two one-year extension options and is being used to finance the acquisition and repositioning of 1550 Westbranch.

October 9, 2015

Loans New York Northeast Office

New York REIT Receives $325M in Financing for Office Building in Times Square

by Amy Works October 9, 2015

NEW YORK CITY — New York REIT Inc. has closed on a $325 million in refinancing for 1440 Broadway, an office building located steps away from Times Square. The 25-story building features 755,679 square feet of office space. The completion of the financing is another step in the company’s strategic initiatives plan to build a best-in-class Manhattan real estate portfolio for the benefit of its shareholders.

October 9, 2015

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