loans

Fantini & Gorga Arranges $2.5M Refinancing Loan for Retail Center in Brookline, Mass.

by Haisten Willis May 1, 2017

BROOKLINE, MASS. — Fantini & Gorga has arranged $2.5 million in first mortgage financing for a 7,700-square-foot retail center located at 1427-1431 and 1441 Beacon St. in Brookline. A former Massachusetts resident who has relocated to California was the borrower. The retail property is 100 percent occupied and anchored by East Boston Savings Bank. Fantini & Gorga’s Derek Coulombe and Chris Miller arranged the refinancing on behalf of the borrower. The loan was placed with a Massachusetts-based financial institution.

May 1, 2017

California Healthcare Loans Western

Sims Mortgage Funding Closes $30.1M Loan to Expand Parkview Community Hospital in Riverside

by Jeff Shaw May 1, 2017

RIVERSIDE, CALIF. — Sims Mortgage Funding has closed a $30.1 million loan for Parkview Community Hospital in Riverside. The hospital is located at 3865 Jackson St. The loan will finance the expansion of Parkview’s emergency department. The loan was insured under the HUD Section 242/241 program.

May 1, 2017

Loans Multifamily Texas

Q10 KDH Secures $5.7M in Financing for Apartment Complex Near Texas A&M

by Taylor Williams May 1, 2017

COLLEGE STATION, TEXAS — Houston-based lender Q10 KDH has secured $5.7 million in financing for Cedar Ridge Apartments, a 166-unit multifamily property located less than one mile from Texas A&M University in College Station. The loan features a 20-year term, 20-year amortization schedule and an interest rate of roughly 4 percent. Amenities at the property include two pools, a basketball court, a community garden and a shuttle that runs to and from the property and the university. The planned use of the capital was not disclosed.

May 1, 2017

Loans Multifamily Texas

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

by Taylor Williams April 28, 2017

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

Loans Multifamily Texas

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

by Taylor Williams April 28, 2017

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

California Hospitality Loans Western

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

by Nellie Day April 27, 2017

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, non-recourse loan was priced at a spread over the 30-day LIBOR. It includes structure for reserves to cover renovation costs, debt service and operating deficits prior to stabilization, according to Thorofare’s Felix Gutnikov, who originated the financing. The New York City office of Mission Capital Advisors LLC arranged the loan. The seller was a local family.

April 27, 2017

Loans Office Southeast Tennessee

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

by John Nelson April 27, 2017

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 Pinnacle at Symphony Place represents the first commercial mortgage in Nashville for Allianz Real Estate of America, which manages a $10.7 billion debt portfolio. Allianz Real Estate of America is the U.S. real estate lending arm of Allianz Group, a global asset management firm based in Munich.

April 27, 2017

Loans Office South Carolina Southeast

Grandbridge Arranges $51M Refinancing for Office Building in Charleston

by John Nelson April 27, 2017

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 the loan through AIG Global Real Estate on behalf of Charleston Financial Center LLC, a subsidiary of Oceanside Resorts Inc., which purchased Bank of America Place in 2004.

April 27, 2017

Loans Multifamily New York Northeast Retail

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

by Haisten Willis April 27, 2017

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 ensure that at least 20 percent of the units are reserved for low-income families or individuals. Jim Gillespie of Bellwether Enterprise’s New York office arranged the loan for The Lemle & Wolff Cos.

April 27, 2017

Healthcare Loans New York Northeast Office

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

by Haisten Willis April 26, 2017

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 percent of the buildings. The HFF team representing TRITEC included Andrew Scandalios, Jose Cruz and Michael Gigliotti.

April 26, 2017

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