loans

Grandbridge Provides $12.2M Acquisition Loan for Apartment Complex in Arkansas

by John Nelson April 12, 2016

FAYETTEVILLE, ARK. — Grandbridge Real Estate Capital has provided a $12.2 million acquisition loan for Garden Park Apartments, a 246-unit apartment community in Fayetteville. Alan Tapie of Grandbridge originated the 10-year, non-recourse loan with a 30-year amortization schedule through Freddie Mac’s CME program. The loan was structured with an interest rate fixed below 4 percent and featured an interest-only period, according to Tapie. The non-student housing property is primarily occupied by University of Arkansas students and features a business center, swimming pool with sundeck, hot tub, fitness studio and a basketball court.

April 12, 2016

Loans Massachusetts Multifamily Northeast

Fantini & Gorga Secures $5.2M Loan for Boston Apartment Property

by Amy Works April 11, 2016

BOSTON — Fantini & Gorga has arranged $5.2 million in permanent financing for South Huntington Apartments, a multifamily property located at 46-82 S. Huntington Ave. in Boston. Casimir Groblewski and Despina Hatzipetrou of Fantini & Gorga arranged the refinancing with RiverSource Life Insurance Co. for the borrower, a local real estate developer and manager. Consisting of 10 three-story, connected buildings, the property features 108 residential units in a mix of oversized studios and one-bedroom layouts.

April 11, 2016

Loans Office Texas

NorthMarq Secures Loan for Office Property in San Antonio

by Haisten Willis April 11, 2016

SAN ANTONIO — Bryan Leonard of NorthMarq Capital’s San Antonio office has arranged acquisition financing for a 25,379-square-foot office property located at 7540 Louis Pasteur Drive in San Antonio. The 10-year loan includes a 25-year amortization schedule and 75 percent loan-to-value ratio. NorthMarq Capital arranged financing for the borrower through its relationship with a local bank. The property is located in the South Texas Medical Center and is 100 percent occupied.

April 11, 2016

Loans Midwest Missouri Multifamily Seniors Housing

Cain Brothers Arranges $51.8M in Bond Financing to Reposition Seniors Housing Community in Kansas City

by Christina Cannon April 11, 2016

KANSAS CITY, MO. — Cain Brothers has arranged $51.8 million in bond financing for Kingswood Senior Living Community, a continuing care retirement community in Kansas City. The bonds will fund the repositioning of the community, which Life Care Services operates. The campus was built in 1982. LCS Development has formulated a turnaround plan that includes converting the obsolete independent living units to new assisted living and memory care units. Renovations will also be performed throughout the remaining units, common areas and amenities. In addition to the 35-year, non-rated, fixed-rate bonds, Cain Brothers arranged $2 million of mezzanine financing to execute the development plan.

April 11, 2016

Illinois Loans Multifamily

Dougherty Mortgage Closes $9.4M Fannie Mae Loan for Apartment Property in Chicago Suburb

by Christina Cannon April 11, 2016

WILLOWBROOK, ILL. — Dougherty Mortgage LLC has closed a $9.4 Fannie Mae loan to refinance Willowbrook Apartment Homes, approximately 25 miles west of Chicago. The apartment property features 140 market-rate apartments. Amenities at Willowbrook Apartment Homes includes walk-in closets, walk-through kitchens, separate dining areas and private balconies or patios. The five-year interest-only loan features a 10-year term and 30-year amortization schedule. Heartland Willowbrook LLC was the borrower.

April 11, 2016

Georgia Loans Multifamily Southeast

Walker & Dunlop Closes $19.9M Acquisition Loan for Apartment Community in Central Georgia

by John Nelson April 11, 2016

KATHLEEN, GA. — Walker & Dunlop has closed a $19.9 million acquisition loan for Houston Lake, a 300-unit, Class A apartment complex in Kathleen, roughly 20 miles south of Macon. Dustin Swartz of Walker & Dunlop’s Bethesda, Md., office led the team that structured the 10-year, fixed-rate loan through Freddie Mac’s CME program on behalf of the borrower, Denver-based Miller Frishman Group. The loan features three years of interest-only payments. Approximately 35 percent of the community’s residents are active and civilian military employees at nearby Robins Air Force Base, which is located about 14 miles southwest of Houston Lake. Built in 2008, the property features gated access, walking trails, poolside grills, a clubhouse, fitness center, playground, basketball court and a tennis court.

April 11, 2016

Loans Multifamily Texas

Dougherty Secures $1.5M Loan for Bristol Square Apartments in Dallas

by Haisten Willis April 8, 2016

DALLAS — Dougherty Mortgage has secured a $1.5 million Fannie Mae supplemental loan for Bristol Square Apartments, a 341-unit apartment property located in Dallas. Bristol Square’s unit interiors include ceiling fans, oversized walk-in closets, exterior lockable storage units and washer and dryer connections. Sunrooms, patios and balconies are available in select units. Dougherty’s Minneapolis office arranged the 8.5-year loan for the borrower, McGuire Family Taraval Property LLC.

April 8, 2016

Loans New York Northeast Office Retail

Equicap Secures $55M Loan for 80,000 SF Commercial Property in Manhattan

by Amy Works April 8, 2016

NEW YORK CITY — Equicap has arranged a $55 million permanent mortgage for a commercial property located in Manhattan’s Meatpacking district. The non-recourse five-year loan features a 2.63 percent fixed interest rate and is full-term interest-only. Developed in 2008, the 80,000-square-foot property is occupied by Arhaus, a furniture retailer, and a California-based tech company. Ricky Aryeh of Equicap originated the loan for the undisclosed borrower.

April 8, 2016

Loans Multifamily New York Northeast

Cushman & Wakefield Arranges $38M Construction Loan Recap for Brooklyn Multifamily Property

by Amy Works April 8, 2016

NEW YORK CITY — Cushman & Wakefield has arranged $38 million in financing to increase proceeds on the existing construction loan for a multifamily property at 33 Lincoln Road in Brooklyn’s Prospect Lefferts Gardens neighborhood. The borrower, Lincoln Park Partners, will use the loan to complete the development of a nine-story residential building featuring 141 apartment units and retail space. The loan was provided by Santander Bank. Preston Flammang of Cushman & Wakefield arranged the two-year loan for the borrower.

April 8, 2016

Connecticut Loans New York Northeast Retail

Cronheim Mortgage Arranges Two Loans Totaling $9.5M for Retail Properties in Connecticut, New York

by Amy Works April 8, 2016

NEW BRITAIN, CONN., AND POUGHKEEPSIE, N.Y. — Cronheim Mortgage has arranged two loans totaling $9.5 million for two retail properties in New Britain and Poughkeepsie. Andrew Stewart and Dev Morris of Cronheim secured both 10-year loans, which feature a 4.22 percent fixed rate and 25-year amortization schedule. The loans were placed with Fidelity & Guaranty Life Insurance Co. In New Britain, an undisclosed borrower received $3.5 million in financing for Brittany West Plaza, a 39,438-square-foot retail property. The property is currently 100 percent leased to a variety of national and regional tenants, including Subway, TD Bank, Hair Cuttery, Gloria’s Nails and Arthur Murray Dance Studio. In Poughkeepsie, an undisclosed borrower received $6 million in financing for Poughkeepsie Plaza, a 170,966-square-foot community shopping center. Originally constructed in 1958, the property was partially enclosed in 1978, with various additions from 1983 to 2004.

April 8, 2016

Newer Posts

Older Posts

Upcoming Events

Aug
06