LUBBOCK, TEXAS — Marcus & Millichap Capital Corp. (MMCC), a provider of commercial real estate financing and capital markets expertise, has arranged a bridge loan to refinance an apartment complex in Lubbock. Peter Muntz, a director in MMCC’s Chicago Downtown office, arranged the debt placement. The non-recourse, interest-only debt placement was structured with a 14-month term and a fixed interest rate. The property is a garden-style apartment complex with more than 300 units.
LOS ANGELES — Capital Funding Group has provided a $6.5 million bridge-to-HUD loan and a $2 million mezzanine loan for the acquisition of Bloohmfield East, a 130-bed skilled nursing facility in Lynwood. A group of private real estate investors bought the property and leased it to a new operator, Reliant Management. Capital Funding Group is a Baltimore-based lender for healthcare properties, especially skilled nursing facilities, assisted living communities and hospitals.
ALBUQUERQUE, N.M. — Houlihan-Parnes has arranged a $9.1 million refinancing for Ladera Shopping Center, a 128,712-square-foot shopping center located in Albuquerque. Ed Graf of Houlihan-Parnes secured the five-year loan. The center is currently 95 percent occupied by 23 tenants including John Brooks Supermarket, Dollar Tree, Taco Cabana, Bank of Albuquerque, Planet Fitness, the UPS Store, Supercuts, H&R Block and T-Mobile. Burger King occupies a pad site.
FORT COLLINS, COLO. — NorthMarq has arranged a $3.7 million refinancing for 3636 and 3700 S. College Ave. in Fort Collins. The collateral consists of two freestanding retail buildings totaling 35,211 square feet. The center is home to a mix of local and regional tenants including Men’s Wearhouse. Mark Jeffries and Conor McCahill of NorthMarq arranged the financing for the borrower.
SAN DIEGO — CBRE has arranged a $65 million loan for the refinance of The Village at Pacific Highlands Ranch, a 147,716-square-foot shopping center located in the Pacific Highlands Ranch community of San Diego. Bill Chiles, Scott Peterson and Brian Cruz of CBRE secured the 11-year, fixed-rate loan. Tenants at the center include Trader Joe’s, Starbucks Coffee, Panera Bread, Crunch Fitness and Wells Fargo.
DALLAS — Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, has closed an $18 million loan for the recapitalization and stabilization of an office building in Dallas. The 18-story, 183,000-square-foot property is located on Ervay Street in downtown Dallas’ central business district. Known locally as Alto 211, the building originally catered to traditional office users but has undergone substantial renovations transforming it into modern, creative office space. The non-recourse, three-year loan features flexible pre-payment options and two one-year extension options, including a facility to provide future funding encompassing tenant improvements, leasing commissions and capital expenditures.
PLEASANT VIEW, UTAH — Wasatch Capital Group and Dougherty Mortgage LLC have arranged an $11.8 million refinancing for The Cove at Pleasant View, an 88-unit multifamily community in Pleasant View, approximately 40 miles north of Salt Lake City. The community is located at 255 E. 2700 N. in Pleasant View. The Fannie Mae loan features a 12-year term and a 30-year amortization schedule. The borrower is Westates Investments LLC.
LOS ANGELES — NorthMarq Capital has arranged a $48 million refinancing for Olympic Plaza, a 244,448-square-foot office property in Los Angeles. The property is located at 11500 West Olympic Blvd. The loan features a 10-year term and 25-year amortization schedule. Blake Melstrom of NorthMarq Capital’s Los Angeles office arranged the financing through a life insurance company.
WOODLAND HILLS, CALIF. — Newmark Realty Capital Inc. has arranged $43.5 million in permanent financing for a 122,523-square-foot grocery-anchored shopping center located in the Woodland Hills submarket of Los Angeles. The center is anchored by Ralphs and located adjacent to Warner Center. George Mitsanas and Doug Tisdale of Newmark’s Los Angeles office arranged the fixed-rate, non-recourse financing on behalf of the borrower. The 10-year loan was placed with a life insurance company and provides interest-only payments during the first five years, followed by a 30-year amortization.
PLAINVIEW, TEXAS — Q10 KDH’s Larry Peters has arranged $2 million in permanent financing for Plainview Apartments in Plainview. The property consists of 15 one-bedroom units, 97 two-bedroom units and 18 three-bedroom units with an average unit size of 924 square feet. The units are situated throughout 49 one- and two-story buildings spanning 120,132 square feet. The fully occupied property is situated on 9.3 acres at 2504 W. 16th St.