Loans

EagleBridge Capital Arranges $20.7M Sale, $15M Loan for Office Property in Connecticut

by Amy Works October 2, 2015

HARTFORD, CONN. — EagleBridge Capital has arranged the sale of Saint Francis Information Technology and Finance Center in Hartford. Located at 103 Woodland St., the five-story, 57,753-square-foot office property sold for $20.7 million. The building is triple-net leased to Saint Francis Hospital & Medical Center on a long-term basis and houses administrative, information technology and finance offices. In addition, EagleBridge Capital arranged $15 million in permanent mortgage financing for the property. Ted Sidel and Brian Sheehan of EagleBridge Capital arranged the sale and financing.

October 2, 2015

Loans Midwest Multifamily Nebraska

NorthMarq Capital Arranges $12.2M Refinancing for Apartment Complex in Omaha

by Christina Cannon October 2, 2015

OMAHA, NEB. — NorthMarq Capital has arranged the $12.2 million refinancing of Spaces Apartments. The complex includes 154 units and is located at 501 Park Ave. in Omaha. The transaction was structured with a 10-year term and 30-year amortization schedule. Gary Rifkin of NorthMarq arranged the transaction.

October 2, 2015

Illinois Loans Midwest

Associated Bank Closes $7.7M Loan for Office Building Conversion in Chicago

by Christina Cannon October 2, 2015

CHICAGO — Associated Bank has closed a $7.7 million loan for the adaptive reuse of an office building located two blocks east of the intersection of Milwaukee and Ogden avenues in Chicago. Rockwell Partners/Chicago 925 Investment Partners LLC was the borrower. Rockwell is converting the office space into a 38-unit apartment building. Plans include expanding the building by two floors and renovating the street-level commercial space. Michael McGovern of Associated Bank managed the loan closing.

October 2, 2015

Loans Retail Southeast Tennessee

KeyBank Arranges $27M CMBS Loan for Lifestyle Retail Center in Tennessee

by John Nelson October 1, 2015

BRISTOL, TENN. — KeyBank Real Estate Capital has arranged a $27 million CMBS first mortgage for Pinnacle at Bristol, a 217,846-square-foot lifestyle retail center located in Bristol. The property’s tenant roster includes Belk, Dick’s Sporting Goods, Marshalls and Bed Bath & Beyond. The center is shadow-anchored by Bass Pro Shop. Scott Bois and Ken Broussard of KeyBank arranged the non-recourse financing.

October 1, 2015

Loans Massachusetts Multifamily Northeast

Fantini & Gorga Arranges $13.5M Loan for Massachusetts Apartment Building

by Amy Works October 1, 2015

NEW BEDFORD, MASS. — Fantini & Gorga has arranged $13.5 million in permanent financing for Riverbank Lofts, a former mill that was converted to an apartment property in New Bedford. Situated on 6.5 acres, the three-story property features 126 units in a mix of one-, two- and three-bedroom layouts, a 160-vehicle garage, a fitness center and a common room. The units feature high ceilings, exposed wide plank hardwood floors and stainless steel appliances. Derek Coulombe and Jason Cunnane of Fantini & Gorga secured the financing for the undisclosed borrower.

October 1, 2015

Loans Multifamily New York Northeast

NYC’s Park Slope to Receive First Crowdfunded Apartments

by Amy Works September 30, 2015

NEW YORK CITY — Fundrise, a platform for crowdfunded online real estate investment, has partnered with 306 7th Street LLC to provide $2 million in funding for an apartment repositioning in Brooklyn’s Park Slope. The partnership has selected JLB Project Management to oversee the three-unit apartment repositioning. Fundrise investors are projected to receive a gross annual return of 11 percent paid current quarterly over an 18-month term. Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet. JPB Project Management specializes in high-quality, boutique projects in and around New York City. The firm has completed several similar renovations in the area.

September 30, 2015

Kansas Loans Midwest Multifamily

NorthMarq Capital Arranges $24.4M HUD Refinancing for Multifamily Property in Kansas City Suburb

by Christina Cannon September 30, 2015

OVERLAND PARK, KAN. — NorthMarq Capital has arranged a $24.4 million HUD refinancing for Whispering Hills Apartments located at 8800 W. 124th St. in Overland Park, a Kansas City suburb. Brent Blake of NorthMarq arranged the refinancing for the 376-unit property. The transaction was structured with a 35-year amortization term. Amenities of the apartment complex include equipped kitchens with granite counters, private patios with storage, washer and dryer connections, an on-site DVD library, numerous catered events, an indoor and outdoor swimming pool and a 24-hour fitness center.

September 30, 2015

Integra Meadows at ChampionsGate Davenport

Florida Loans Multifamily Southeast

Grandbridge Provides $29.5M Loan for Apartment Community Within ChampionsGate

by John Nelson September 30, 2015

DAVENPORT, FLA. — Grandbridge Real Estate Capital has closed a $29.5 million acquisition loan for Integra Meadows at ChampionsGate, an apartment community within ChampionsGate, a premier golf course resort in Davenport. The property is within 15 minutes from the Walt Disney World Resort and Celebration, a master-planned community originally developed by The Walt Disney Co. Taylor Williams and Purvesh Gosalia of Grandbridge originated the fixed-rate, non-recourse loan through BB&T Real Estate Funding.

September 30, 2015

Loans Massachusetts Multifamily Northeast

CBRE/NE Arranges $14M in Construction Financing for Liberty Place in Quincy

by Amy Works September 29, 2015

QUINCY, MASS. — CBRE/New England’s Multifamily Debt & Structured Finance group has arranged $14 million in construction financing for Liberty Place in Quincy. BP Liberty LLC, an affiliate of Boston Property Development, is developing a 53-unit apartment community, which has already broken ground. Located at 999 Hancock St., the property will feature 67 garage parking spaces, a fitness center, a 2,000-square-foot roof deck, a private function room and a patio/barbecue area overlooking a lawn and dog park. The residential units will feature stainless steel appliances, hardwood flooring, granite countertops, private balconies, in-unit washers and dryers, and oversized windows. John Kelly and Sam Dylan of CBRE/NE procured the financing for the borrower.

September 29, 2015

Colorado Loans Retail Western

Greystone Provides $36M CMBS Loan for Mixed-Use Property in Colorado

by Nellie Day September 29, 2015

AVON, COLO. — Greystone has provided a $36 million CMBS loan for Chapel Square and Benchmark Shopping Center, two adjoining mixed-use properties comprising 200,000-square feet of retail and office space in the resort community of Avon. The property, located at the base of Beaver Creek ski resort, is currently 99.7 percent leased to 44 tenants. Ted Nasca of Greystone originated the 10-year loan with interest-only payments for the first three years and a 30-year amortization schedule.

September 29, 2015

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