BURLINGTON, MASS. — Colliers International has arranged $45 million in refinancing for Third Avenue, a newly constructed Class A retail walking street in located off Middlesex Turnpike in Burlington. Colliers secured the 22.5-year loan, which features a fixed-rate, for Nordblom Co. through Sun Life Assurance Company of Canada, a correspondent life company lender. Jeff Black and Kevin Phelan of Colliers represented the borrower in the transaction.
INDIANAPOLIS — HFF has secured a $70.6 million refinancing loan for Axis, a 435,894-square-foot mixed-use property in downtown Indianapolis. Flaherty & Collins Properties was the borrower. HFF placed the 10-year, fixed-rate loan with Allianz Life Insurance Company of North America through Allianz Real Estate of America LLC, a correspondent life company lender. Axis is a 336-unit luxury, mid-rise building that was completed in 2015. Units at Axis average 914 square feet, and the building contains 47,117 square feet of retail space, which features a 42,000-square-foot Marsh Supermarket. Community amenities include a saltwater swimming pool, aqua lounge with kitchenette, grilling stations, a pet wash and walk area, a Zen garden, Sky Bar, 24-hour club room, two-story fitness center with a yoga and Pilates studio, catering kitchen, gaming lounge, bike room, study lounges, conference room and library. Dave Keller of HFF arranged the financing for the development located at 401 N. Senate Ave.
CHICAGO — Aries Capital has arranged a $9.3 million permanent loan for a 23-unit apartment building in Chicago. Douglas Crocker II and partners was the borrower The newly constructed six-story building is located at 858 N. Franklin St. The apartment building consists of one-, two- and three-bedroom units and features a fitness center. The 10-year, fixed-rate, non-recourse loan with 30-year amortization was secured at 100 percent of the total cost basis. Eric Jones of Aries Capital arranged the financing. PNC provided the Fannie Mae loan.
AUSTIN, TEXAS —Hank Crane of BMC Capital’s Austin office has arranged a $1.7 million loan for the refinancing of Woodland Corners, a 63-unit apartment community in Austin. The loan features a five-year fixed term at 4 percent interest and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent agency relationships.
OVERLAND PARK AND SHAWNEE, KAN. — NorthMarq Capital has arranged a total of $13.3 million in refinancing loans for two multifamily properties in Kansas. Fiesta Square Apartments is located at 9551 W. 85th St. in Overland Park, and Haverford West Apartments is located at 11309 W. 75th St. in Shawnee. The two properties contain a total of 231 units and were built in 1972 and 1984 respectively. NorthMarq arranged financing for the undisclosed borrower through its relationship with Freddie Mac. The transactions were both structured with a 10-year term and 30-year amortization schedule. Greg Duvall of NorthMarq arranged the financing.
BETHESDA, MD. — Berkeley Point Capital has closed $1.4 billion in Freddie Mac acquisition loans for a 25-property, five-state portfolio on behalf of long-time client Starwood Capital Group. The portfolio’s properties total 8,597 units located in California, Colorado, Florida, Maryland and Virginia. The properties were built between the mid-1960s and late 2000s and include amenities such as clubhouses, fitness centers, dog parks, business centers, hot tubs, barbecue areas, saunas, playgrounds, and basketball, tennis, racquetball and volleyball courts. The 10-year, floating-rate loans include a five-year interest-only period with a 30-year amortization schedule. All loans closed on Jan. 26. “The closing of the portfolio was a huge success and was driven by the very focused and coordinated efforts of Starwood, Freddie Mac and Berkeley Point,” says Charlie Haggard, managing director of Berkeley Point Capital’s Irvine, Calif. office. “The relationships and familiarity between the various parties allowed for a smooth and timely closing.” Haggard and Kevin Mignogna led the financial effort for Berkeley Point Capital. Berkeley Point Capital is a multifamily capital provider with a portfolio of over $50 billion including 2,800 loans in 49 states. The firm offers Fannie Mae, Freddie Mac, FHA, CMBS and life company loans. Commercial real estate financing …
BOSTON — NorthMarq Capital has arranged $4.5 million in acquisition financing for an office property located at 44-46 Plympton St. in Boston’s South End. The transaction was structured with a 10-year term and a 30-year amortization schedule. The property features 28,600 square feet of office space. Ed Riskstins of NorthMarq Capital’s Boston regional office secured the financing for the undisclosed borrower through NorthMarq’s relationship with a national bank.
SEATTLE — Columbia Pacific Advisors has provided $50 million in first-mortgage financing for the 425-acre Weyerhaeuser corporate campus in the Seattle submarket of Federal Way. The campus is located at 33663 Weyerhaeuser Way S. The loan will allow the borrower, Industrial Realty Group (IRG), to purchase the campus. IRG plans to redevelop and lease or sell parts of the high-profile property to industrial and office users. Columbia Pacific Advisors manages more than $1.1 billion across a variety of alternative investment strategies, including real estate lending, private real estate equity, growth capital, private equity and distressed debt.
LAS VEGAS — NorthMarq Capital has secured the $26 million refinance of Desert Marketplace, a 251,785-square-foot mixed-use property located on West Warm Springs Road in Las Vegas. Scott Monroe of NorthMarq secured the financing, which is structured with a 3-year, interest-only term with two one-year extensions. The center is composed of six buildings occupied by tenants including Walgreens, TJ Maxx, Glazier’s Food Marketplace, Petco and Big 5.
CLEVELAND —Cleveland, Ohio-based KeyBank Real Estate Capital has provided a total of $11.7 million in first mortgage loans for multiple parking garages in Indiana and Missouri. MVP REIT sponsors the properties. KeyBank provided an $8.2 million loan for a portfolio consisting of City Park Garage and Surface Parking Lot, both located in the central business district of Indianapolis. KeyBank also provided an additional $3.5 million loan for three surface parking lots, two in St. Louis and one in Kansas City. Randy Martin of KeyBank arranged the CMBS, non-recourse loans.
