SANTA MONICA. CALIF. — Mesa West Capital has provided a $283.3 million loan for the acquisition and renovation of the Lantana Media Campus, a 478,713-square-foot office complex in Santa Monica. The campus contains four Class A office buildings on a 12-acre site on Olympic and Exposition boulevards in Santa Monica’s Media District. It is leased to a variety of entertainment and media companies. A joint venture between Brightstone Capital Partners and Artisan Realty Advisors owns the campus. The seven-year, floating rate, non-recourse financing was originated out of the private lender’s open-ended Mesa West Core Lending Fund. Steve Fried and Jason Bressler led the origination for Mesa West.
AURORA, COLO. — KeyBank Real Estate Capital has arranged $55.3 million in acquisition financing to the 467-unit Highline Village Apartment Homes in Aurora. The community is located at 490 S. Joplin St. It was built in 1984. Tim DeWispelaere arranged the financing.
GAINESVILLE, FLA. — Arcis Capital Partners LLC has provided a $70 million revolving facility for the development of Celebration Pointe, a more than 1 million-square-foot mixed-use project in Gainesville. Arcis Capital funded the facility on behalf of the borrower, Gainesville-based Celebration Pointe Holdings LLC, the sponsor and owner of Celebration Pointe. The 125-acre development is located along I-75 at Archer Road and features a newly built multi-modal bridge over the interstate. The developer, Celebration Pointe Development Partners, opened a new Bass Pro Shops at Celebration Pointe on Wednesday, Nov. 9. Anchoring the next phase, which is scheduled to open in November 2017, is a Regal Cinemas theater, a second Class A office building and over 350 luxury apartments. Additionally, a 137-room Hotel Indigo and the final phase of the main street retail are slated for a 2018 opening.
JACKSONVILLE, FLA. — Trillium Capital Resources has arranged a $4.1 million acquisition loan for Southside Square Apartments, a 108-unit community located in Jacksonville. Trillium Capital arranged the 10-year, fixed-rate loan through one of the company’s affiliate Freddie Mac Small Balance Lenders on behalf of the New York-based borrower. The loan features 80 percent loan-to-value and three years of interest-only payments.
NORTON, MASS. — On behalf of NorthBridge Partners, CBRE/New England’s Debt & Structured Finance team has arranged $19 million in acquisition financing for a warehouse and distribution facility located at 192 Mansfield Ave. in Norton. The 347,000-square-foot property is fully leased to Advance Auto Parts Inc. Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE secured the financing for the borrower.
WASHINGTON, D.C. — New York Life Real Estate Investors has originated two 15-year loans totaling $90 million for a pair of office buildings in downtown Washington, D.C.’s central business district. The properties include a recently renovated, 10-story building at 1620 Eye St. N.W. and a 12-story building at 1156 15th St. N.W. New York Life Real Estate Investors originated the loans on behalf of the borrower, TF Cornerstone Inc.
NEW YORK CITY — Meridian Capital Group has arranged $30 million in financing for the refinance of an office property located at 264-268 W. 40th St. in Manhattan’s Garment District. The 10-year loan, provided by a national balance sheet lender, features a competitive fixed rate of 3.5 percent. Avi Weinstock, Josh Rhine and Luke Hingson of Meridian secured the financing for the borrower, Renaissance Properties. The 20-story, 120,000-square-foot office building is occupied by 40 tenants, including two restaurants as retail tenants.
HOUSTON — ARA Newmark has secured a $22.2 million construction loan for The Icon, a 380-bed student housing development located within walking distance of the University of Houston campus. David Schwarz and Spencer Hough of ARA Newmark secured the loan on behalf of the borrower, Tier One Group, through an undisclosed regional debt fund. The five-story property will feature a resort-style pool, business center, conference room, game room, lounge area, fitness center, fire pit and a covered outdoor bar with gas grills and a refrigerator. Tier One expects to deliver the project in time for fall 2017 classes.
NEW YORK CITY — Eastern Union Funding has secured a $15 million non-recourse loan to refinance an office building located at 201 Edward Curry Ave. in Staten Island. The borrower, Addwel LLC, occupies 40 percent of the three-story, 82,528-square-foot office building. Additional tenants include ADCO Electric, IDB Bank, TCE Insurance Services and Vaslas Lepowsky Hauss & Danke. Meir Kessner of Eastern Union Funding arranged the financing, which was provided by Bethpage Federal Credit Union.
OCEAN CITY, MD. — Washington, Del.-based Applied Bank has provided a $21 million construction and permanent loan for a new Hyatt Place Hotel located at 16th Street and Boardwalk in Ocean City. The new 105-room, seven-story hotel will replace the existing Seascape Motel, which opened in the 1950s. The property will feature a restaurant, bar, outdoor veranda, meeting rooms, room service, indoor and outdoor swimming pools and a fitness center, as well as six shops fronting Boardwalk. The owner, PRBR Hospitality LLC, has owned the site since 1978.