loans

CBRE Secures $68M Financing for Retail Development in Chappaqua, N.Y.

by Haisten Willis April 20, 2017

CHAPPAQUA, N.Y. — Jeffrey Dunne, Kyle Juszczyszyn and David Gavin of CBRE have secured $68 million in financing for the development of Chappaqua Crossing in Chappaqua. Dunne, Juszczyszyn and Gavin represented The Grossman Co. and Summit Development in arranging the loan for the planned 120,000-square-foot retail center. The team was responsible for procuring the 90 percent institutional joint venture equity partner in addition to securing the new construction financing of $44 million with M&T Bank. Whole Foods will anchor Chappaqua Crossing, which will sit on a 19.1-acre site inside a 114-acre mixed-use development. Other tenants will include Life Time Fitness, Pet Valu, Chase Bank, AT&T and GoHealth Urgent Care.

April 20, 2017

Loans Louisiana Retail Southeast

KeyBank Secures $20.9M CMBS Loan for Retail Power Center in Metro New Orleans

by John Nelson April 20, 2017

HARVEY, LA. — KeyBank Real Estate Capital has secured a $20.9 million CMBS loan for the acquisition of Centre at Westbank, a 174,445-square-foot retail power center in Harvey, less than seven miles south of New Orleans. Built in 2001, the four-building property is fully leased to tenants such as Best Buy, Barnes & Noble, Michaels and Petco. Randy Martin of KeyBank arranged the 10-year loan with three years of interest-only payments and a 30-year amortization schedule.

April 20, 2017

Loans Northeast Pennsylvania Retail

Cronheim Mortgage Closes $50.5M Financing for Retail Center in Easton, Pa.

by Haisten Willis April 19, 2017

EASTON, PA. — Cronheim Mortgage has secured $50.5 million in financing for Northampton Crossings, a 622,000-square-foot power center in Easton. The refinancing loan was structured with a 15-year fixed-rate, which was locked 11 months prior to closing. American General Life Insurance Co., The Variable Annuity Life Insurance Co., National Union Fire Insurance Co. and American Home Assurance Co. funded the loan. Northampton Crossings was constructed in 1995 and anchor tenants include Walmart, Sam’s Club, Kohl’s, Staples and a 14-screen Regal Cinemas. Inline tenants include Hobby Lobby, Lane Bryant, Starbucks, Sleepy’s, GameStop, Panera Bread, Sally Beauty Supply, GNC and Sears Hardware. Andrew Stewart, Dev Morris and Andrew Tsukamoto of Cronheim Mortgage originated the loan.

April 19, 2017

Healthcare Loans Mixed-Use New York Northeast

Houlihan Parnes Secures $2.3M Loan for Medical Office Building in White Plains, N.Y.

by Haisten Willis April 19, 2017

WHITE PLAINS, N.Y. — Jeremiah Houlihan and James Coleman of Houlihan Parnes Realtors have secured a $2.3 million first mortgage loan for a medical office building located at 280 Mamaroneck Ave. in downtown White Plains. The three-story building contains a retail store, medical tenants, a self-service elevator and on-site parking for 60 cars. The 10-year loan features a 30-year amortization schedule and was placed with a savings bank. The lender charged no commitment fee and the loan includes sliding scale prepayment penalties.

April 19, 2017

California Loans Multifamily Western

Universe Holdings Secures $9.2M Financing for the Sycamores Apartments in Inglewood

by Nellie Day April 19, 2017

LOS ANGELES — Universe Holdings has secured a $9.2 million loan for the 50-unit Sycamores apartments in the Los Angeles submarket of Inglewood. The community is located at 875 Victor Ave. The Sycamores was built in 1972. Universe Holdings has renovated and modernized the asset since it acquired the property in 2014. The refinancing retired existing debt and the original principal and improvement capital. It was arranged by HFF’s Charles Halladay.

April 19, 2017

California Loans Multifamily Western

Hunt Mortgage Group Provides $5M Acquisition Loan for Arden Villas in Sacramento

by Nellie Day April 19, 2017

SACRAMENTO, CALIF. — Hunt Mortgage Group has provided a $5 million loan to Promise Keeper LLC for the acquisition of the 72-unit Arden Villas apartment community in Sacramento. The community is located at 2043-2045 Wyda Way. Arden Villas is currently 96 percent occupied. Units were recently updated with new flooring, countertops, cabinetry and hardware. Select units also contain a washer and dryer, central HVAC and/or small yards and patio spaces. The loan was a Freddie Mac Small Balance Loan.

April 19, 2017

Loans Multifamily Seniors Housing Texas

KeyBank Arranges $15.4M Financing for Skilled Nursing Facility in Harlingen, Texas

by Taylor Williams April 18, 2017

HARLINGEN, TEXAS — KeyBank Real Estate Capital has arranged $15.4 million in first mortgage financing for Regency-Windsor Atrium View, a skilled nursing facility in the south Texas city of Harlingen. Located at 1814 Atrium Place Drive, the facility, which was built in 2012, offers 120 beds. John Randolph of KeyBank arranged the loan, which has a 35-year amortization schedule, to refinance existing debt on the property.

April 18, 2017

Loans New Jersey Northeast Office

G.S.Wilcox & Co. Secures $16.5M Financing for Office Property in Morristown, N.J.

by Haisten Willis April 18, 2017

MORRISTOWN, N.J. — G.S. Wilcox & Co. has secured a $16.5 million loan for the Hampshire Cos.’ newly constructed office building located at 49 Market St. in Morristown. The 44,000-square-foot property is a build-to-suit for law firm Fox Rothschild LLP, allowing the company to consolidate its Morristown and Roseland offices. The Morristown-based mortgage banker secured the financing over a 15-year term from a life insurance company headquartered in Alabama. Gretchen S. Wilcox and Al Raymond of G.S. Wilcox handled the transaction.

April 18, 2017

California Loans Multifamily Western

PSRS Arranges $80M Loan for 266-Unit Apartment Complex in Goleta

by Nellie Day April 17, 2017

GOLETA, CALIF. — PSRS has arranged an $80 million loan for a 266-unit apartment complex in Goleta. The luxury complex is situated on a 13.7-acre lot. It features 18 buildings and amenities such a business center, clubhouse, fitness center, swimming pool, barbecue, fire‐pits and spa. The loan was used to pay off construction costs. PSRS’ Mike Thorp arranged the financing. The 10‐year, fee-simple loan will amortize in 30 years. One of PSRS’ correspondent life companies provided the capital for the loan.

April 17, 2017

Loans Massachusetts Multifamily Northeast

CBRE Arranges $56.3M Loan for Multifamily Portfolio in Massachusetts

by Haisten Willis April 17, 2017

BOSTON & LYNN, MASS. — On behalf of Helge Capital, CBRE New England’s multifamily debt and structured finance team has secured a $56.3 million first mortgage loan to finance the recapitalization of a 19-building multifamily portfolio in metro Boston and Lynn, Mass. The assets consist of workforce housing of both market-rate and affordable apartments. CBRE’s John Kelly arranged the financing through a national lender on behalf of Helge Capital, a commercial real estate investment and operating company specializing in multifamily and development properties in the greater Boston area.

April 17, 2017

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