loans

JLL Secures $65M in Development Financing for 3 MSF Industrial Project in Metro Houston

by Taylor Williams December 19, 2017

BAYTOWN, TEXAS — JLL has secured $65 million in financing for the development of the first phase of Port 10 Logistics Center, an industrial project in Baytown that upon completion will span more than 3 million square feet across eight buildings. The first phase of the project, which is scheduled for a third-quarter 2018 completion, will deliver four buildings situated on a 100-acre site totaling 992,669 square feet. First Tennessee Bank provided the first lien while Nationwide Mutual Insurance provided mezzanine financing. Paul House, James Brolan and Jonathan Paine of JLL led the financing effort.

December 19, 2017

Loans Multifamily New York Northeast Seniors Housing

Greystone Provides $16.5M HUD Refinancing for Skilled Nursing Facility in Western New York

by Amy Works December 19, 2017

DUNKIRK, N.Y. — Greystone has provided a $16.5 million HUD-insured permanent loan to refinance Chautauqua Nursing & Rehabilitation Center, a skilled nursing facility. Chautauqua Nursing & Rehabilitation Center is a 216-bed skilled nursing facility located in the Western New York city of Dunkirk on Lake Erie in close proximity to State University of New York at Fredonia. The facility provides a range of services including rehabilitation services such as physical, occupational, and speech therapy, as well as memory care, music therapy, palliative care, respite and hospice services. The long-term FHA financing represents a permanent exit from a bridge loan provided by Greystone in 2015 for VestraCare’s acquisition of the property. The loan carries a 33-year term and amortization at a fixed rate. Fred Levine, managing director in Greystone’s Monsey, N.Y., office, originated the transaction.

December 19, 2017

Loans Louisiana Multifamily Southeast

Greystone Provides $24.2M HUD Loan to Refinance Apartment Community in Baton Rouge

by Camren Skelton December 19, 2017

BATON ROUGE, LA. — Greystone has provided a $24.4 million HUD-insured loan to refinance The Highland Club Apartments, a 247-unit multifamily property in Baton Rouge. Jason Stein of Greystone arranged the 35-year fixed-loan. Other terms of the transaction were not disclosed. Greystone previously refinanced the property in 2012, and the new loan enables a combination of phased renovations and continued investment back into the property. The Highland Club Apartments is located roughly 15 miles from downtown Baton Rouge, and features a swimming pool, stocked lakes, putting greens, dog park, business center, fitness center and an on-site personal trainer.

December 19, 2017

Arizona Industrial Loans Western

Globe Corp. Receives $86M in Financing for Arizona Office, Industrial Portfolio

by Nellie Day December 18, 2017

PHOENIX — Globe Corp. has obtained $86 million in financing for a four-property office and industrial portfolio based in Arizona. The portfolio contains two Class A office buildings and two industrial warehouses in Phoenix, Tempe and Scottsdale. The loan for one property, 101 Corporate Center, served as acquisition financing and the remaining were refinancings. Debt for the two industrial warehouses, 8990 S. Kyrene Road and Riverside Commerce Park, was consolidated into a single loan structure. Each of the three long-term, fixed-rate loans were closed with separate life insurance companies. Walker & Dunlop arranged the loans.

December 18, 2017

Colorado Loans Multifamily Western

Crestone Partners Obtains $70.6M in Financing for 10-Story Office Tower in Denver

by Nellie Day December 18, 2017

DENVER — Crestone Partners has obtained $70.6 million in financing for Granite Place at Village Center, a 299,568-square-foot office tower in the Denver submarket of Greenwood Village. The 10-story building is located at 6165 S. Willow Drive. The property is fully leased to Charter Communications and CSG International. HFF secured the six-year, fixed-rate, interest-only loan through Principal Real Estate Investors. Loan proceeds were used to acquire the property. The borrower was not disclosed.

December 18, 2017

Loans Multifamily Northeast Pennsylvania

Hunt Mortgage Group Provides $28.4M Acquisition Loan for Multifamily Property in Reading, Pennsylvania

by Amy Works December 18, 2017

READING, PA. — Hunt Mortgage Group has provided a $28.4 million conventional Fannie Mae loan for the acquisition of Reed Farm Apartments, a multifamily property located in Reading. Loan terms include a 12-year term with a 30-year amortization period and an 11.5-year yield maintenance period. The Reading-based sponsor purchased the subject as part of a 1031 exchange. Reed Farm Apartments is a 242-unit garden-style apartment complex consisting of 35 two-story residential structures, including a farm house that was built pre-1930 and converted into an apartment unit in 2003. The property was built in two phases between 2003 and 2005. Jame Conley of HFF represented the undisclosed sponsor in the financing.

December 18, 2017

Loans Multifamily New York Northeast

KeyBank Arranges $11.6M in Financing for 108-Unit Multifamily Property in Troy, New York

by Amy Works December 18, 2017

TROY, N.Y. — KeyBank Real Estate Capital has arranged an $11.6 million Freddie Mac first mortgage loan for Summit Apartments in Troy. Situated on 10 acres, the property comprises four three-story apartment buildings offering a total of 108 units. Hayley Suminski of Key’s Commercial Mortgage Group arranged the financing with a seven-year term, two-year interest-only period and 30-year amortization schedule. The undisclosed borrower used the loan to refinancing existing debt.

December 18, 2017

Florida Loans Mixed-Use Southeast

Trez Forman Capital Provides $74.8M Construction Loan for Mixed-Use Project in Orlando

by Camren Skelton December 18, 2017

ORLANDO, FLA. — Trez Forman Capital Group has provided a $74.8 million construction loan for Church Street Plaza, a 26-story mixed-use development in downtown Orlando. Trez Forman is a joint venture between Palm Beach-based Forman Capital and Vancouver-based Trez Capital Group. Plans for the new development include 200,000 square feet of Class A office space, a 180-room hotel, a ground-floor restaurant and a rooftop bar/lounge area. Kolter Hospitality will acquire the hotel portion of the project, which is located on the northeast corner of South Garland Avenue and West South Street. The building’s parking garage will connect to the Church Street Station SunRail stop.

December 18, 2017

Arizona Loans Multifamily Seniors Housing Western

Greystone Arranges $25.8M Construction Financing for Seniors Housing Community in Arizona

by Nellie Day December 15, 2017

GILBERT, ARIZ. — Greystone has arranged $25.8 million in financing for the construction of a seniors housing community in Gilbert. The borrower was Fort Worth, Texas-based developer Aspens Senior Living. A publicly traded bank provided the loan for the construction of The Aspens at Mariposa Point in the Phoenix suburb of Gilbert. The community is restricted to residents age 55 and older, and will feature 204 units. The project is a joint venture between Aspens Senior Living, McFarlin Group and Pennybacker Capital. Construction began on the community in May 2017.

December 15, 2017

Loans New Jersey Northeast Office

Cushman & Wakefield Secures $26.2M in Financing for Office Building in Woodcliff, New Jersey

by Amy Works December 15, 2017

WOODCLIFF, N.J. — Cushman & Wakefield has arranged $26.2 million in financing on behalf of Hudson Equities Management. The financing is secured by 300 Tice Boulevard, a 240,291-square-foot office property. Streamline Realty Funding provided the four-year, floating-rate financing. At the time of financing, the property was 78.5 percent occupied by a variety of tenants in the auto, pharmaceutical and financial services industries. John Alascio, Sridhar Vankayala and Andre Hass of Cushman & Wakefield represented the sponsor in the transaction.

December 15, 2017

Newer Posts

Older Posts