loans

Pillar Originates $59.4M in Refinancing for 138-Unit Multifamily Property in Hoboken, New Jersey

by Amy Works January 30, 2017

HOBOKEN, N.J. — Pillar, a subsidiary of SunTrust Banks, has originated a $59.4 million Freddie Mac loan for the refinancing of The North Constitution at The Shipyard. Jessica McGuire of Pillar originated the fixed-rate, 10-year loan, which features a 30-year amortization schedule and 60 percent loan-to-value, for the sponsors, Michael Barry and David Barry of Hoboken-based Ironstate Holding Co. Built in 1999, the 14-story multifamily property features 138 apartments in one-, two- and three-bedroom layouts. On-site amenities of the waterfront property include views of the Hudson River, a waterfront park, elevated courtyards, a fitness center and parking garage.

January 30, 2017

Loans Multifamily New Hampshire Northeast

NorthMarq Arranges $4.8M in Acquisition Financing for Multifamily Property in New Hampshire

by Amy Works January 30, 2017

MANCHESTER, N.H. — NorthMarq Capital has arranged $4.8 million in acquisition financing for the purchase of an apartment complex located in Manchester. Mark Whelan of NorthMarq secured the 10-year loan, which features a 30-year amortization schedule, for the undisclosed borrower. The multifamily property features 67 apartment units.

January 30, 2017

Loans Maryland Office Southeast

ACORE Capital Provides $46.6M Acquisition Loan for Office Portfolio in Metro D.C.

by John Nelson January 27, 2017

GREENBELT, MD. — ACORE Capital has provided a $46.6 million acquisition loan for Capital Office Park, a seven-property office portfolio totaling 806,531 square feet in the Greenbelt suburb of Washington, D.C. Cary Abod and Michael Gigliotti of HFF worked on behalf of the borrower, Morning Calm Management, to arrange the floating-rate loan. Located at 6301-6421 Ivy Lane, the portfolio is currently 60 percent leased to tenants including Bozzuto & Associates, Whiting Turner and the U.S. District Attorney’s Office. Morning Calm, who will be moving its primary office to Capital Office Park, plans to upgrade the property’s lobbies, elevators, windows and amenity spaces.

January 27, 2017

Hospitality Loans Texas

Grandbridge Arranges $12.9M in Refinancing for 117-Room Hotel in The Woodlands

by Amy Works January 27, 2017

THE WOODLANDS, TEXAS — Grandbridge Real Estate Capital has closed a $12.9 million first mortgage loan for Hilton Garden Inn-Woodlands, a 117-room hotel located in The Woodlands, a northern suburb of Houston. Bill Mattice and Phillip Cox of Grandbridge originated the refinancing for the undisclosed borrower. The Bancorp provided the 10-year, fixed-rate loan, which features a 30-year amortization schedule.

January 27, 2017

Loans New Jersey Northeast Retail

Houlihan-Parnes Places $18M Loan for 400,000 SF Shopping Center in Lawrence, New Jersey

by Amy Works January 27, 2017

LAWRENCE, N.J. — Houlihan-Parnes Realtors has placed an $18 million first mortgage and credit facility for Lawrence Shopping Center, located at 2495-2421 Brunswick Pike and Harding Avenue in Lawrence. Acme Supermarket, Burlington Coat Factory and Staples are major tenants at the 400,000-square-foot property. A joint venture between JJ Operating Inc. and principals and investors from Houlihan-Parnes Realtors recently acquired the property.

January 27, 2017

Industrial Loans New Jersey Northeast

G.S. Wilcox & Co. Secures $12.7M in Financing for Two New Jersey Properties

by Amy Works January 27, 2017

WAYNE AND SOMERSET, N.J. — G.S. Wilcox & Co. has secured two loans totaling $12.7 million for two industrial properties in New Jersey. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. arranged the financing for the borrowers. In the first transaction, the firm secured a $10 million loan for a 311,813-square-foot warehouse distribution center in Wayne. The borrower was an undisclosed developer. In the second deal, the company secured $2.7 million loan for the refinancing for a warehouse facility located in Somerset for an undisclosed developer borrower.

January 27, 2017

Loans Multifamily New York Northeast

Cushman & Wakefield Closes $21.8M in Loans for Two Multifamily Properties in Queens

by Amy Works January 26, 2017

NEW YORK CITY — Cushman & Wakefield has secured two loans, totaling $21.8 million, for two multifamily properties in Queens. The loans feature a 3.25 percent fixed rate for a five-year term. Proceeds of the loans will be used to recapture equity on the properties. The properties are located at 108-20 62nd Drive in the Forest Hills section of Queens and 136-42 Maple Ave. in Flushing. Totaling 130,000 square feet, the properties offer a total of 135 residential units. Morris Betesh, Justin Boruchov, Daniel Belecen and Omar Ferreira of Cushman & Wakefield handled the financing. Dime Savings Bank provided the loans for the undisclosed borrower.

January 26, 2017

Arizona Multifamily Western

Walker & Dunlop Originates $47.2M in Construction Financing for Apartment Complex in Mesa

by Nellie Day January 26, 2017

MESA, ARIZ. — Walker & Dunlop has originated $47.2 million in HUD financing for construction of the 325-unit Aviva apartment complex in Mesa. The affordable housing community is located at 8350 E. Baseline Road. Aviva will contain one- to three-bedroom units. Construction recently commenced with a scheduled opening in the third quarter of 2018. The total development cost is $63 million.

January 26, 2017

Loans Multifamily Washington Western

Parkview Financial Closes $16.2M Loan for Multifamily Property in Vancouver

by Nellie Day January 26, 2017

VANCOUVER, WASH. — Parkview Financial has secured a $16.2 million loan for a 124-unit multifamily development in Vancouver. The community is being developed along 134th Street.

January 26, 2017

Florida Loans Multifamily Southeast

NorthMarq Capital Arranges $31.5M Construction Loan for Multifamily Project in Tampa

by John Nelson January 26, 2017

TAMPA, FLA. — NorthMarq Capital has arranged a $31.5 million construction loan for Cortona South Tampa, a 300-unit multifamily property located at 5145 S. Dale Mabry Highway in Tampa. The gated development will feature a two four-story apartment buildings and 20 two-story townhome buildings, as well as a 6,000-square-foot clubhouse with a resort-style swimming pool and recreation areas. Robert Hernandez of NorthMarq Capital’s Tampa office arranged the 3-year loan with a two-year extension option through a regional bank. The loan features interest-only payments for the primary term and a 25-year amortization schedule for the extension.

January 26, 2017

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