Tag Archives

Bellwether Arranges $10.4M in Acquisition Financing for 192-Unit Apartment Complex in Carrollton

CARROLLTON, TEXAS — Bellwether Enterprise Real Estate Capital LLC has arranged $10.4 million in acquisition financing for Toscana Apartments, a 192-unit, Class B property multifamily property located at 17910 Kelly Blvd. in Carrollton. Laurie Morfin of Bellwether arranged the financing through Fannie Mae loan on behalf HLC Equity, a Pennsylvania-based firm that acquired the property earlier in April for roughly $13.2 million.

April 28, 2017

Dougherty Mortgage Closes $1.9M Acquisition Loan for Multifamily Asset in Blanco, Texas

BLANCO, TEXAS — Dougherty Mortgage LLC has closed a $1.9 million Fannie Mae loan for the acquisition of Blanco Oaks Apartment Homes, a 30-unit apartment community located at 525 Jones Ave. in Blanco, a city roughly 50 miles north of San Antonio. Dougherty Mortgage arranged the 12-year loan through a partnership with Old Capital Lending, on behalf of Rio Blanco Apartments LLC. The loan features a 30-year amortization schedule and one year of interest-only payments.

April 28, 2017

Shamina Investments Receives $11.2M Acquisition Loan for Claremont Hotel Westwood in Los Angeles

LOS ANGELES — Shamina Investments has received an $11.2 million loan to acquire and renovate the 53-room Claremont Hotel Westwood in Los Angeles. The hotel is located at 1044 Tiverton Ave. in Westwood Village. The Claremont Hotel was built in 1939. The hotel will re-open the hotel in February 2018 as the Palihotel Westwood under the Paligroup hotel flag. Paligroup currently manages and operates four daily and extended-stay boutique properties in the Los Angeles area. The five-year,..

April 27, 2017

Allianz Provides $100M Loan for Office Tower in Downtown Nashville

NASHVILLE, TENN. — Allianz Real Estate of America has provided a $100 million loan for The Pinnacle at Symphony Place, a 28-story, 520,000-square-foot office tower located in downtown Nashville. Built in 2010, the LEED Gold-certified building was 99 percent leased to 20 tenants at closing. Bat Barber of Medalist Capital arranged the loan through Allianz on behalf of the borrower, Highwoods Properties, a Raleigh-based REIT that purchased the office building in 2013 for $152 million. The..

April 27, 2017

Grandbridge Arranges $51M Refinancing for Office Building in Charleston

CHARLESTON, S.C. — Grandbridge Real Estate Capital has arranged the $51 million refinancing for Bank of America Place, a 144,000-square-foot, four-story office building along Meeting Street in Charleston. The office building features ground-floor retail space and an attached 355-space parking garage. Tenants include Bank of America, New York Life, Morgan Stanley, Wells Fargo Advisors, Parker Poe Law Firm and Resurgent Capital Services. Russ Balderson and Kevin French of Grandbridge arranged..

April 27, 2017

Bellwether Enterprise Secures $37M Financing for Mixed-Use Property in NYC

NEW YORK CITY — Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has secured $37 million in financing for The Larkspur, a mixed-use property in the Central Harlem neighborhood of Manhattan. The eight-story building includes 116 apartment units along with seven ground-floor commercial spaces. Bellwether provided a fixed-rate CMBS loan with a 12-year term through Fannie Mae. The terms of the financing..

April 27, 2017

HFF Secures $81.5M Recapitalization for Long Island Medical Office Portfolio

EAST SETAUKET, N.Y. — HFF has secured an $81.5 million recapitalization for Stony Brook Technology Center, an eight-building medical office portfolio totaling 261,824 square feet in the Long Island community of East Setauket. HFF represented the borrower, TRITEC Real Estate, and procured the lender, a fund advised by UBS Real Estate & Private Markets. Completed between 1987 and 2007, the portfolio is located in a master-planned business park. Stony Brook University occupies more than 65..

April 26, 2017

Colliers Negotiates $41M Sale, $26.7M Financing for Office Property in Boston

BOSTON — Colliers International has negotiated the $41 million sale of an office property located at 148 State St. in Boston. Colliers also arranged $26.7 million in acquisition financing for property, which is the corporate headquarters of Public Consulting Group (PCG), a public sector management and technology consulting firm. Colliers marketed the property on behalf of the seller, an entity controlled by principals of PCG, and procured the buyer, a joint venture controlled by Harbor..

April 26, 2017

Equicap Secures $5.8M Construction Loan for Mixed-Use Development in NYC

NEW YORK CITY — Equicap has secured a $5.8 million construction loan for a mixed-use development in the Williamsburg neighborhood of Brooklyn. The site is located directly above an L train subway stop and within walking distance to the JMZ trains. The developer obtained approval from the MTA for the project. The property will feature five condo units and one ground-floor retail space.

April 25, 2017

PMZ Realty Capital Provides $82.5M Loan for Embassy Suites Hotel in Downtown Atlanta

ATLANTA — PMZ Realty Capital has closed an $82.5 million loan for Embassy Suites by Hilton Atlanta at Centennial Park, a 321-room hotel located at 267 Marietta St. in downtown Atlanta. Situated near Centennial Olympic Park in Atlanta’s Luckie-Marietta district, the hotel features 16,000 square feet of meeting space and an outdoor pool and spa. The borrower, Legacy Property Group, is using the floating-rate financing to retire existing debt on the hotel, which has recently undergone a $10..

April 24, 2017