loans

Berkadia Arranges $157M Construction Loan for Target-Anchored Mixed-Use Project in Metro D.C.

by Camren Skelton September 15, 2017

ARLINGTON, VA. — Berkadia has secured a $157 million construction loan for 750 North Glebe, a mixed-use project under construction in Arlington, roughly five miles west of Washington, D.C. Upon completion, 750 North Glebe will feature 491 residential units and 61,000 square feet of retail space, which will be anchored by a 41,000-square-foot Target store. J. Tyler Blue, Paul Wallace and Jimmy Meadows of Berkadia secured the 18-year loan through Northwestern Mutual Life Insurance Co. on behalf of the developer, Bethesda, Md.-based Saul Centers.

September 15, 2017

California Industrial Loans Western

Allianz Real Estate of America Provides $55M Refinancing for Riverside Cold Storage Facility

by Nellie Day September 14, 2017

RIVERSIDE, CALIF. — Allianz Real Estate of America has provided $55 million to refinance a 507,000-square-foot cold storage facility in Riverside. The property is located at 1001 Columbia Ave. The asset was developed in 2011 on a 25.3-acre site within Hunter Park. It is fully leased to an investment-grade credit tenant. The 10-year, fixed-rate loan will refinance the property’s existing loan. HFF’s Kevin MacKenzie and AJ Manas represented the borrower in this transaction.

September 14, 2017

Loans New York Northeast Office

Savanna Receives $100M in Construction Financing for Office Development in Manhattan

by Amy Works September 14, 2017

NEW YORK CITY — Savanna has received $100 million in construction financing for an office building development at 106 W. 56th St. in Manhattan. When completed, the 26-story property will feature 90,000 square feet of high-end office space. Designed by Perkins Eastman, the tower is slated for completion in the third quarter of 2018. Kellogg Gaines, Aaron Niedermayer and Douglas Baillie of JLL arranged the financing, which includes a senior construction loan from United Overseas Bank and mezzanine financing from Canyon Partners Real Estate.

September 14, 2017

Loans New York Northeast Retail

Houlihan-Parnes Realtors Secures $2.1M in Refinancing for a Shopping Center in the Bronx

by Amy Works September 14, 2017

NEW YORK CITY — Houlihan-Parnes Realtors has arranged a first mortgage refinancing for a one-story strip shopping center in the Bronx. Located at 3408-3418 Boston Post Road, the property features 12,600 square feet of rentable space. Ed Graf of Houlihan-Parnes secured the loan, which features a fixed rate for five years and a 30-year amortization schedule, for the undisclosed borrower.

September 14, 2017

Affordable Housing Multifamily New York Northeast

Jonathan Rose Cos. Closes $233M Fund for Affordable Housing Preservation

by Amy Works September 13, 2017

NEW YORK CITY — Jonathan Rose Cos., a green real estate investment, development and project management firm, has closed a $233 million impact fund. The fund is the firm’s fourth institutional fund focused on acquiring and preserving affordable multifamily housing, implementing practical green strategies to reduce environmental impacts and operating costs and to fund social, educational and other services for residents. The fund closed with aggregate capital commitments of $233 million, reaching the top end of its $150 to $250 million target. Institutional investors, investment advisors and leading impact-investment managers, as well as family offices and high net-worth investors, contributed to the success of the fund. A key component of the fund’s strategy is to develop “communities of opportunities,” adding programs and facilities to properties including on-site community centers, computer-filled classrooms, health and wellness rooms, social service rooms, exercise facilities and community gardens. The programs and facilities were implemented to develop initiatives to connect residents with a range of health, education and social services. As of July 2017, the fund has deployed more than $64 million equity investments. Among the fund’s initial investments is a portfolio of more than 3,300 apartment units across 18 assets in eight states and the District …

September 13, 2017

Loans Multifamily Northeast Pennsylvania Seniors Housing

KeyBank Arranges $28.5M in Financing for Seniors Housing Property in Suburban Philadelphia

by Amy Works September 13, 2017

PAOLI, PA. — KeyBank Real Estate Capital has arranged a $28.5 million Freddie Mac floating-rate mortgage loan for Daylesford Crossing in Paoli, a northwest suburb of Philadelphia. Built in 2015, the Class A property features 64 assisted living and 14 memory care units, as well as commercial space occupied by Ciao Bella Salon and Spa. Carolyn Nazdin of Key’s Healthcare Group arranged the financing, which features a seven-year term, three-year interest-only period and a 30-year amortization schedule.

September 13, 2017

Loans New York Northeast Retail

Ready Capital Structured Finance Closes $4.7M Loan for Retail Space in Manhattan

by Amy Works September 13, 2017

NEW YORK CITY — Ready Capital Structured Finance has closed a $4.7 million loan for a retail condo located in Manhattan’s Financial District for an undisclosed borrower. The borrower plans to renovate the ground floor and basement space of the 4,900-square-foot property and re-lease the property at market rental rates. The non-recourse, interest-only loan features a 24-month term with one extension option and flexible pre-payment. Additionally, the loan is inclusive of a facility to provide for capital expenditures, leasing costs, interest and carry reserves, as well as an equity earn out if certain performance metrics are achieved.

September 13, 2017

Loans Retail Texas

SunTrust Closes $600M in Financing for Texas Rangers Ballpark

by John Nelson September 13, 2017

ARLINGTON, TEXAS — SunTrust Banks Inc. has closed $600 million in financing for the Texas Rangers to fund the team’s share of construction costs for its new ballpark, known as Globe Life Field. Set to open for the 2020 season, the stadium will feature a retractable roof and typical ballpark amenities. The professional baseball team is building Globe Life Field in a public/private partnership with the City of Arlington. The Rangers transaction was a partnership between several of SunTrust’s business units, including the Southwest Corporate Banking office of SunTrust Robinson Humphrey (STRH); the SunTrust Sports and Entertainment Group, which raises capital and provides financing to professional sports franchises; and the STRH Leveraged Finance Group. MUFG and US Bank served as lead arrangers of the Rangers loan.

September 13, 2017

California Loans Office Western

Anchor Health Properties Receives $68M Acquisition Loan for Medical Office Portfolio in San Diego

by Nellie Day September 12, 2017

SAN DIEGO — Anchor Health Properties has obtained a $68 million loan to purchase a San Diego medical office building portfolio. The portfolio contains a total of 206,000 square feet in the La Jolla/UTC submarket. The acquisition includes the two-building Chancellor Park Medical Campus, which is situated near the UC San Diego Jacobs Medical Center and Scripps Memorial Hospital La Jolla. The properties were built in 1988 as traditional office buildings before they were converted into medical uses. The properties are 94 percent occupied. UC San Diego Health currently leases 44 percent of the buildings, which form the largest outpatient medical campus in UTC and one of the larger outpatient medical campuses in Southern California. The funding will also support future tenant improvements and leasing commissions for the properties. Capital One provided the funds.

September 12, 2017

California Loans Office Western

Berkadia Secures $29M in Financing for Pinnacle Medical Office in San Diego

by Nellie Day September 12, 2017

SAN DIEGO — Berkadia has secured $29 million in financing for Pinnacle Medical Office in San Diego. The office is located at 10670-10672 Wexford St. in the Scripps Ranch submarket. The property provides services like primary care, wellness exams, treadmill stress testing, annual physicals, sports and camp physicals, full laboratory testing, vaccinations and pre-operative clearance. The 10-year, fixed-rate loan features interest-only payments for the full term and features a 4.3 percent interest rate through Wells Fargo. The borrower was LP Scripps Lot 1 LLC.

September 12, 2017

Newer Posts

Older Posts