REBusinessOnline

JLL Arranges $14.3M in Financing for New Jersey Industrial Portfolio

EDISON, N.J. — JLL has arranged $14.3 million in financing for a portfolio of industrial buildings totaling approximately 430,000 square feet within Raritan Center Business Park in the Northern New Jersey community of Edison. The buildings were constructed between 1980 and 1991 and were 99 percent leased to a roster of 20 tenants at the time of sale. Michael Klein and Max Custer of JLL arranged three fixed-rate loans through an undisclosed life insurance company to retire existing debt on the …

NorthMarq Arranges $30M Loan for Refinancing of Retail Asset in Queens

NEW YORK CITY — NorthMarq has arranged a $30 million loan for the refinancing of Springnex Plaza Shopping Center, a 96,019-square-foot retail asset located in the Springfield Gardens area of Queens. The grocery-anchored retail property was built in 2000. Robert Delitsky of NorthMarq arranged the fixed-rate loan through an undisclosed credit union on behalf of the borrower, an affiliate of New York-based Mattone Investors LLC that originally developed the

Parkview Financial Provides $42.5M Loan for Multifamily Development in Nashville’s Germantown District

NASHVILLE, TENN. — Parkview Financial has provided a $42.5 million construction loan for the development of Artist Lofts, a multifamily property located at 1217-31 2nd Ave. N in the Germantown submarket of Nashville, about one mile outside of downtown. The non-recourse loan has a 24 month-term with two three-month extensions.Situated on a 0.9-acre parcel, the Artist Lofts project will offer 210 multifamily units, 3,800 square feet of ground-floor retail space and a parking garage with 250 …

KeyBank Secures $40.2M Refinancing for Three Apartment Properties in Southeast, Michigan

CLEVELAND — KeyBank Real Estate Capital has secured $40.2 million in Fannie Mae financing for three multifamily properties in Michigan, South Carolina and Florida. Dirk Falardeau and David Pyc of KeyBank structured the fixed-rate refinancing on behalf of the borrower, The Benchmark Group, a New York-based real estate developer, investor and manager. The properties include Autumn Woods in Sterling Heights, Mich.; Huntington Place in Columbia, S.C.; and Village at University Square in Tampa, …

ASC Arranges $17.3M Bridge Loan for Apartment Community in Metro Atlanta

JONESBORO, GA. — American Street Capital (ASC) has arranged a $17.3 million bridge loan for Flint River, a 200-unit multifamily community located in Jonesboro, about 18.3 miles south of downtown Atlanta. Thorofare Capital, a correspondent debt fund lender, provided the loan to the undisclosed current owner of Flint River.Built in 1971, Flint River Apartments includes 17 buildings on 13 acres with a mix of one-, two- and three-bedroom apartments. Community amenities include a putting …

ACRES Capital Provides $31.5M Construction Loan for Multifamily Project in Yonkers, New York

YONKERS, N.Y. — ACRES Capital has provided a $31.5 million construction loan for a 126-unit multifamily project located at 56 Prospect St. in Yonkers, a northern suburb of New York City. Units will feature modern appliance packages, high-end finishes and private balconies in select units, and amenities will include a rooftop terrace, courtyard and 130 parking spaces. Completion is slated for July 2023. Marty Reasoner of ACRES Capital provided the 30-month loan, and Andrew Milbank of Berko …

Tremont Mortgage Trust Provides $50M Acquisition Loan for Dallas Office Building

DALLAS — Metro Boston-based Tremont Mortgage Trust (NASDAQ: TRMT) has provided a $50 million first mortgage bridge loan for the acquisition of 10000 NCX, a 15-story, 296,000-square-foot office building located at 10000 North Central Expressway in Dallas. Colliers International arranged the loan on behalf of the sponsor, Charter Holdings. The loan was structured with a three-year initial term and two one-year extension options that are subject to the borrower meeting certain conditions. …

PCCP Provides $39.8M Loan for Refinancing of Metro Boston Life Sciences, Office Portfolio

WATERTOWN AND NEWTON, MASS. — PCCP LLC has provided a $39.8 million loan for the refinancing of a portfolio of three life sciences and creative office buildings totaling 124,946 square feet in Watertown and Newton, two western suburbs of Boston. The two Watertown properties were built in the 1940s and total 43,344 square feet. The Newton property was constructed in 1900, renovated in 2017 and consists of 81,602 square feet. The borrower, Massachusetts-based KS Partners LLC, will use a portion …

Berkadia Secures $51.2M Financing for Affordable Housing Acquisition, Redevelopment in Metro Atlanta

JONESBORO, GA. — Berkadia has secured $51.2 million in financing for the redevelopment of Riverwood Townhouses, a 282-unit affordable housing development in Jonesboro, about 18.3 miles south of downtown Atlanta. Vitus, a national developer and owner of affordable housing, recently acquired the property for $30.5 million from an entity doing business as RWood Holdings LLC.Tim Leonhard of Berkadia secured both $25.9 million in acquisition bridge financing and $25.3 million in permanent …

Lument Provides $29.4M Acquisition Loan for San Antonio Apartment Community

SAN ANTONIO — Lument has provided a $29.4 million bridge loan for the acquisition of Limestone Oaks, a 401-unit apartment and townhome community in northwest San Antonio. The property was originally built in 1981, renovated in 2007 and acquired by the undisclosed seller in 2013. Colin Cross and John Sloot led the transaction for Lument. John Brickson of Old Capital Lending arranged the debt. The borrower was locally based owner-operator DJE Texas Management

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