REBusinessOnline

HFF Secures $19.9M Loan for Office Conversion Project in Austin

AUSTIN, TEXAS — HFF has secured approximately $19.9 million in financing for a project to convert 81,711 square feet of warehouse space in Austin into a creative office property. Branded UpCycle, the new office property will be located on Sixth Street in East Austin and will feature conference space, bike storage and a coffee bar. Robert Wooten and Eric Tupler of HFF placed the loan on behalf of the borrower, a joint venture between EverWest Real Estate Investors and WHI Real Estate Partners. …

HFF Secures $23.3M in Acquisition Financing for Two Hotels in Metro Dallas

GRAPEVINE, TEXAS — HFF has secured approximately $23.3 million in acquisition financing for two hotels in Grapevine, a suburb of Dallas located near Dallas-Fort Worth (DFW) International Airport. The 94-room Hampton Inn & Suites Dallas-DFW Airport North-Grapevine was built in 2000 and the 96-room Comfort Suites DFW Airport North Grapevine was completed in 2005. Both hotels feature a business center, fitness center, meeting rooms and a pool. Pete Felhman of HFF led the debt placement team …

LMI Capital Arranges $9.5M Acquisition Financing for Three Houston-Area Apartment, Office Assets

HOUSTON — LMI Capital has closed three acquisition loans totaling $9.5 million for two apartment communities and one office building located throughout the greater Houston area. The properties include a 65-unit apartment asset in Galveston County, an 80-unit apartment community in the Spring Branch submarket and a 23,000-square-foot office building located near The Woodlands. Kurt Dennis of LMI Capital placed the loans for the Galveston and Woodlands properties and Jamie Mullin of LMI Capital …

CBRE Secures $78M Loan for Refinancing of Mixed-Use Asset in Austin

AUSTIN, TEXAS — CBRE has secured a $78 million loan for the refinancing of The Triangle, a mixed-use property in Austin that includes 529 multifamily units and roughly 120,000 square feet of retail and restaurant space. Residential amenities include three pools, a 24-hour fitness center and a resident lounge. Brian Eisendrath, Brandon Smith and Annie Rice of CBRE secured the seven-year, floating-rate loan on behalf of The Dinerstein Cos., a Houston-based development firm that acquired the …

NXT Capital Provides $25M Acquisition Loan for Apartment Community in Austin

AUSTIN, TEXAS — NXT Capital has provided a $25 million acquisition loan for a 230-unit, Class B apartment community located roughly eight miles south of downtown Austin. Situated one mile east of Interstate 35, the unnamed property’s amenities include a clubhouse, business center, fitness center, after school program operated by a nonprofit organization, swimming pool, grilling area, playground and an on-site bus

Alliant Credit Union Closes $8M Refinancing for Student Housing Community in San Marcos

SAN MARCOS, TEXAS — Chicago-based Alliant Credit Union has closed an $8 million loan for the cash-out refinancing of Treehouse Apartments, a 138-unit student housing community serving Texas State University in San Marcos. The property is located within a mile of campus and features amenities such as a pool, picnic area, coffee bar and on-site laundry facilities. The loan features a 25-year amortization schedule and three years of interest-only payments. The borrower was not

Arbor Realty Trust Provides $20.8M Bridge Loan for Apartment Property in Clute, Texas

CLUTE, TEXAS — Arbor Realty Trust Inc., a New York-based direct lender, has provided a $20.8 million bridge loan for a 520-unit multifamily property in Clute, about 60 miles south of Houston. The property offers one- and two-bedroom units and amenities such as a fitness center, on-site laundry facilities and three swimming pools. Joseph Charneski of Arbor Realty Trust originated the loan, which features a two-year adjustable

George Smith Partners Secures $45M in Financing for San Francisco Proper Hotel

SAN FRANCISCO — George Smith Partners has secured $45 million in bridge refinancing for the 131-room San Francisco Proper Hotel in the city’s Mid-Market neighborhood. The flatiron building is located at 1100 Market St. at the triangle of McAllister, Market and Seventh streets. The new bridge loan will allow the borrower, Kor Group, to focus on its operations and further establish the property as a luxury lifestyle hotel in San Francisco. The funds will replace an existing construction …

Cohen Financial Arranges $11.9M Refinancing for Two Retail Centers in Vancouver, Washington

VANCOUVER, WASH. — Cohen Financial, a division of SunTrust Bank, has arranged two loans totaling $11.9 million for the refinancing of two retail centers located in Vancouver. Peter Norrie of Cohen Financial arranged a $4.7 million loan for Salmon Creek Center and a $7.2 million loan for 164th Plaza through Alaska USA Federal Credit Union. The name of the borrower was not disclosed. The five-year loans feature 25-year amortization schedules and an option to extend for another five

KeyBank Arranges $56.4M Acquisition Loan for Apartment Community in Metro Dallas

GARLAND, TEXAS — KeyBank Real Estate Capital has arranged a $56.4 million loan for the acquisition of Landmark at Lake Village North, an 848-unit multifamily community located in the Dallas metro of Garland. The property was built in 1983 and comprises 69 two- and three-story apartment buildings. Amenities include a fitness center and on-site laundry facilities. Amber Rao of KeyBank secured the non-recourse, floating-rate loan through an undisclosed life insurance company on behalf of Madera …