SAN ANGELO, TEXAS — BMC Capital has arranged a $1.8 million loan for the cash-out refinancing of an unnamed multifamily property located in the West Texas city of San Angelo. The loan was structured with a 10-year term, a fixed interest rate of 6.59 percent, a 65 percent loan-to-value ratio (LTV) and two years of interest-only payments followed by a 30-year amortization schedule. The borrower and direct lender were also not disclosed.
FORT SMITH, ARK. — Sila Realty Trust Inc., a publicly traded net lease healthcare REIT based in Tampa, has purchased a 50-bed inpatient healthcare facility in Fort Smith, a city on the Arkansas-Oklahoma border. An undisclosed seller sold the approximately 62,500-square-foot healthcare property for $28.3 million. Built in 2021, the facility was fully leased at the time of sale to Mercy Rehabilitation Hospital, a joint venture between Mercy Hospital Fort Smith and Lifepoint Health. The rehabilitative property is tailored for individuals recovering from stroke, brain injury, neurological conditions, trauma, spinal cord injury, amputation and orthopedic injury. Year-to-date, Sila Realty Trust has purchased eight Class A healthcare properties for an aggregate price of $164 million.
RALEIGH, N.C. — JLL Capital Markets has brokered the sale of Landmark at North Hills, a 166,653-square-foot office building located at 4601 Six Forks Road in Raleigh. A joint venture between Edgewater Ventures and Northridge Capital acquired the property for an undisclosed price. Ryan Clutter, Daniel Flynn, C.J. Liuzzo and Sarah Holloway of JLL represented the seller, BentallGreenOak (BGO), in the transaction. Dennis Hurley, Hillman Duncan and Patti Autry of JLL will manage leasing at the property on behalf of the new ownership. Landmark at North Hills, which sits on seven acres and comprises two five-story buildings connected by a sky bridge, was 84.3 percent leased at the time of sale.
DECATUR, GA. — Berkadia has arranged a $13 million loan for the acquisition of Arcadia Decatur, a 101-unit apartment community located at 220 N. Arcadia Ave. in Decatur, a northeast suburb of Atlanta. Scott Wadler, Matt Robbins and Abigail Beauchamp of Berkadia secured the five-year, fixed-rate financing on behalf of the borrower, a joint venture between Atlantic Pacific Cos. and Highline Real Estate Capital. Built in 2020, Arcadia Decatur features one- and two-bedroom apartments, as well as a fitness center, outdoor grills, swimming pool and a sundeck.
MIAMI BEACH, FLA. — FM Capital has secured an $11 million bridge loan for the financing of an office building located at 301 Arthur Godfrey Road in Miami Beach. Formerly known as the HSBC Building, the property is now known as the Citizens Bank Building. Noam Temchin of FM Capital originated the interest-only, floating-rate loan through Sheridan Capital on behalf of the undisclosed borrower.
HAMILTON, N.J. — Lincoln Equities Group has received a $60.8 million construction loan for a 420,024-square-foot industrial project that will be located in the Central New Jersey community of Hamilton. The site at 861 Sloan Ave. spans 48 acres and offers proximity to both interstates 95 and 295. Building features will include a clear height of 40 feet, 84 loading docks, two drive-in doors and parking for 556 cars and 81 trailers. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through Los Angeles-based PCCP on behalf of Lincoln Equities, which is developing the property in partnership with PGIM. Cushman & Wakefield also previously arranged the sale of the site.
DOWNINGTOWN, PA. — BWE has arranged $45 million in first mortgage financing for Brandywine Square Shopping Center, a 607,999-square-foot retail center located roughly 40 miles outside Philadelphia in Downingtown. Regional grocer Wegmans anchors the center. Other tenants include BJ’s Wholesale, Dick’s Sporting Goods, DSW, PetSmart, Regal Cinema and Best Buy. Kevin Hicks of BWE originated the financing through a life insurance company on behalf of the borrower, Delaware-based development and management firm Allied Properties.
WESTPORT, CONN. — Matthews Real Estate Investment Services, a California-based brokerage firm, has negotiated the $10.6 million sale of a 17,358-square-foot mixed-use property in the coastal Connecticut city of Westport. The property consists of an 11,572-square-foot retail space leased to Urban Outfitters and the historic Sherwood House, a 5,786-square-foot building featuring a restaurant and office space. Joanna Manfro of Matthews represented the undisclosed seller in the transaction. Gregory Kim of Sequoia Property Group represented the buyer, a New York City-based 1031 exchange investor.
NEW YORK CITY — Marcus & Millichap has brokered the $8.2 million sale of a 10-unit apartment building in Brooklyn. The five-story building at 29 Willow St. is located in the Brooklyn Heights area and was originally constructed in 1900. Shaun Riney and Michael Salvatico of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors who requested anonymity, in the transaction.
HAMILTON, N.J. — Pickleball Kingdom will open a 40,500-square-foot, full-building lease at 1100 Negron Drive, an industrial flex property in the Central New Jersey community of Hamilton. The space will house 14 courts as well as conference rooms, meeting areas and a lounge. New Jersey-based Denholtz Properties owns the building, which was completed in 2023 and features a clear height of 26 feet. The opening is scheduled for the fall.