loans

Landmark Arranges $100M Financing for Multifamily Community in California

by Nellie Day September 25, 2015

LAKE FOREST, CALIF. — Landmark Capital Advisors has arranged $100 million in financing for Portola Center South, a 626-building multifamily community in Lake Forest. The owner, SunRanch Capital Partners, began improving the land this past June. It plans to begin selling the lots to builders by early 2016. The site contains five planning areas. The improvements will commence in one phase, which will take seven to nine months to complete. Portola Center South will eventually include 569 for-sale units and 57 affordable units. Adam Deermount and Terry Ruckle of Landmark Capital Advisors structured the financing.

September 25, 2015

Industrial Loans Western

HFF Arranges $42M Financing for Perris Circle Industrial Park Project

by Nellie Day September 25, 2015

PERRIS, CALIF. — HFF has arranged $42 million in joint venture equity and construction financing for Perris Circle Industrial Park. The Class A industrial facility will contain two buildings totaling 594,000 square feet. The new project is situated on a 31-acre site at 278-290 Markham St., near Harley Knox Boulevard and Interstate 215. Perris Circle Industrial Park will be complete in early 2016. HFF worked on behalf of the developer, Circle Industrial, to arrange the joint venture equity partnership with Cigna Realty Investors. The firm also secured the construction financing for the partnership with Wells Fargo Bank. Anthony Brent, Kevin Mackenzie and Ryan Martin led HFF’s equity placement team. Todd Sugimoto and Mark Wintner led the debt placement team.

September 25, 2015

Loans Multifamily Texas

Berkadia Originates $15.7M Acquisition Loan for Multifamily Property in San Antonio

by Haisten Willis September 24, 2015

SAN ANTONIO — Berkadia has secured $15.7 million in financing for The Parq on the Boulevard, a multifamily property located at 5655 UTSA Blvd. in San Antonio. Andy Hill of Berkadia’s Austin office secured the loan through Berkadia’s Freddie Mac program. The borrower, Mosaic Marq LP, will use the seven-year, floating-rate financing for the acquisition of the property. Loan terms include two years of interest-only payments followed by a 30-year amortization schedule. The Parq on the Boulevard is a 208-unit property that features one-, two- and three-bedroom floor plans. Community amenities include a pool with a tanning deck, barbeque grills, fitness center, pet park and a business center. Situated on more than 11 acres, the property was 94 percent occupied at the time of closing.

September 24, 2015

Loans Multifamily Texas

ARA Newmark Completes Acquisition Financing for Apartment Complex in Houston

by Haisten Willis September 23, 2015

HOUSTON — Holly Minter, David Schwarz and Tip Strickland of ARA Newmark have closed a seven-year CMBS loan with a fixed interest rate and full-term interest-only payments on behalf of Momentum Real Estate Partners for the acquisition of Provenza at Barker Cypress Apartments in Houston. The Class A, 318-unit multifamily community was built in 2014 and offers one-, two- and three-bedroom apartment units.

September 23, 2015

California Industrial Loans Western

Century Business Center in Hawthorne Receives $57M in Financing

by Nellie Day September 23, 2015

HAWTHORNE, CALIF. — HFF has arranged $57 million in senior financing for Century Business Center, a 1.4-million-square-foot industrial manufacturing facility in Hawthorne. The center is located at 3901 Jack Northrop Ave. The seven-building campus is fully leased to Triumph Aviation Group and SpaceX. Triumph produces fuselages for Boeing’s 747 passenger and freighter commercial jets, while SpaceX is the largest private space transport company in the world. HFF’s Paul Brindley, Anthony Brent and Ryan Martin arranged the 10-year, fixed-rate loan on behalf of Zelman Development Co. It was placed with AIG Investments. The proceeds were used to recapitalize the property.

September 23, 2015

Loans Oregon Retail Western

HFF Arranges $23M Refinancing for Timberland Town Center in Portland

by Nellie Day September 23, 2015

PORTLAND, ORE. — Holliday Fenoglio Fowler (HFF) has arranged $23 million in financing for Timberland Town Center, a 91,901-square-foot retail center anchored by boutique grocer Market of Choice, in Portland. Casey Davidson of HFF worked on behalf of the borrower, Timberland Town Center LLC, to secure the 10-year, fixed-rate loan with AXA Equitable Life Insurance Co. through its advisor Quadrant Real Estate Advisors. Loan proceeds were used to take out the construction loan, as the property just reached stabilization. Other tenants include Pharmaca, Clutch Sausagery, H&R Block, La Belle Nail, Mud Bay, Zucari Home and Garden, Gentle Dental, Urban Wax, Star Cycle and Barre3 Fitness.

September 23, 2015

California Loans Office Western

HFF Arranges $7.2M Refinancing for Office, Retail Property in San Diego

by Nellie Day September 22, 2015

SAN DIEGO — Holliday Fenoglio Fowler (HFF) has arranged a $7.25 million refinancing for the majority of the Schiefer & Sons Building in downtown San Diego. Bank of America provided the 10-year, fixed-rate loan. The loan proceeds will be used to refinance existing debt. The property features 15,221 square feet of office and retail space. Located at 815 J St., the building is divided into six office units and two ground-level retail spaces. Kevin MacKenzie and Greg Brown of HFF secured the financing for the borrower, Capital Real Estate Ventures Inc.

September 22, 2015

Loans Multifamily Seniors Housing Texas

RED Capital Group Closes $17.2M Loan for Prevarian Senior Living

by Haisten Willis September 22, 2015

BROKEN ARROW, OKLA. — RED Capital Partners, the proprietary debt and equity banking arm of RED Capital Group, has closed a $17.2 million balance sheet construction loan for Prevarian Senior Living to build Prairie House Assisted Living and Memory Care, located on the campus of St. John Medical Center Hospital in Broken Arrow. Prairie House will be a 93,000-square-foot, two-story seniors housing community and will accommodate more than 100 senior citizens. The facility will include 73 alcove, one- and two-bedroom floor plans for assisted living. There will also be 32 suites designed for memory care residents. Construction began Sept. 9 and the project is expected to open in November 2016. The 105-unit, 117-bed assisted living and memory care property will operate under a long-term ground lease from an affiliate of St. John Medical Center Hospital. LifeCare Services, based in Des Moines, Iowa, will operate the property.

September 22, 2015

California Loans Multifamily Seniors Housing Western

CBRE Arranges $12M Fannie Mae Loan to Refinance Independent Living Community in California

by Nellie Day September 21, 2015

CARMICHAEL, CALIF. — CBRE National Senior Housing has arranged a $12 million, fixed-rate loan from Fannie Mae to refinance Winding Commons, a 100-unit independent living community in metro Sacramento. The borrower is Sacramento-based Ray Stone Inc. (RSI), the community’s operator since it opened in 2003. RSI manages six communities in California comprising over 800 units. Aron Will, executive vice president of CBRE National Senior Housing, and Kevin Randles, senior vice president of CBRE’s Debt and Structured Finance office in Sacramento, led the transaction.

September 21, 2015

Arizona Loans Multifamily Seniors Housing Western

Grandbridge Arranges $10.5M Refinance of Community in Phoenix

by Nellie Day September 21, 2015

PHOENIX — Grandbrige Real Estate Capital’s seniors housing and healthcare finance team has arranged a $10.5 million refinancing for Avista North Mountain, an assisted living, memory care and independent living community in Phoenix. The community comprises 134 units. BB&T Real Estate Funding provided the capital.

September 21, 2015

Newer Posts

Older Posts