FORT WORTH, TEXAS — Mark One Capital has arranged financing for a 52-unit apartment property in Fort Worth. The loan amount was not released. Chris Parker of the firm’s Dallas office arranged the loan. The property, Shadowood Apartments, is located on Calmont Avenue along I-30. The non-recourse loan was structured with a 20-year term and amortizes over 30 years with an interest rate of 3.81 percent. The loan-to-value ratio was 75 percent.
DALLAS — Jim Hoopes of NorthMarq Capital’s Minneapolis office and Stephen Whitehead of the firm’s Dallas office arranged $18.2 million in acquisition financing for Alexan Trinity, a 167-unit multifamily property located at 333 E. Greenbrier Lane in downtown Dallas. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The property features unobstructed views of downtown Dallas.
CORPUS CHRISTI, TEXAS — Old Capital has provided a $9.2 million acquisition loan for Embassy House Apartments in Corpus Christi. A local investment group acquired the asset, which was built in 1980. Located only a few miles from the beach, the new owners plan to update the property and then reposition for a long-term hold. Old Capital provided the non-recourse Fannie Mae loan with 80 percent leverage.
LOUISVILLE, COLO. — The Colorado Technology Center Portfolio, which contains a total of 631,135 square feet of light industrial space, has received $59 million in financing. The seven-building portfolio was fully leased, and all are situated within the Colorado Technology Center in Louisville, northwest of Denver. Steve Bye and Conor McCahill of NorthMarq Capital’s Denver office arranged the financing with an undisclosed investment bank. The non-recourse loan structure involved a 10-year, fixed-rate term with interest-only payments for three years, followed by a 30-year amortization schedule.
SAN ANTONIO — Old Capital has provided a five-year loan with a fixed interest rate, a 25-year amortization schedule and one year of interest-only payments for French Chalet Apartments in San Antonio. Local buyers acquired the value-add asset. Using loan proceeds, the new owners will perform exterior and interior renovations to increase the value of the property.
OKLAHOMA CITY — Robert Hervey and Mark Dodson of NorthMarq Capital’s Los Angeles office have arranged the $16.5 million refinancing of Landmark Towers, a 274,656-square-foot office property located at 3335-3555 NW. 58th St. in Oklahoma City. The transaction was structured with a 10-year term, five years of interest-only payments and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender.
SEGUIN, TEXAS — Dougherty Mortgage LLC has secured a $4 million Fannie Mae loan for the refinancing of Early Bird Townhomes, a 104-unit multifamily affordable housing property located in Seguin. The 10-year loan includes a 30-year amortization schedule. Dougherty’s Austin office arranged the financing on behalf of the borrower, Seguin Housing Partners Limited. Early Bird Townhomes offers two-, three- and four-bedroom units with full-size washer and dryer connections and energy-efficient design throughout the units. The property includes a clubroom and playground.
PHOENIX — The 331-room Wigwam Resort in the Phoenix submarket of Litchfield Park has received a $29 million loan. The hotel is located at 300 E. Wigwam Blvd. The resort features 45,000 square feet of indoor meeting space, 55,000 square feet of outdoor meeting space, an Elizabeth Arden Spa, four food and beverage venues, four swimming pools and three 18-hole golf courses. JLL’s Dustin Stolly, Mike Huth and Aaron Niedermayer secured the floating-rate loan. East West Bank provided the funds to JDM Holdings.
DALLAS — HFF has arranged the sale of and acquisition financing for Le Méridien Dallas by the Galleria, a 258-suite hotel in Dallas. HFF marketed the property on behalf of the seller, a partnership between Arden Group Inc. and HEI Hotels & Resorts. NB Holdings purchased the asset for an undisclosed amount. Additionally, HFF worked on behalf of the new owner to place the 10-year, fixed-rate acquisition loan with Principal Commercial Capital. Le Méridien Dallas by the Galleria is an all-suite, 11-story hotel with a European aesthetic. Originally constructed in 2002, the hotel was renovated in 2009 when it was converted into a Le Méridien. Hotel amenities include the recently renovated fitness center, 5,079 square feet of meeting space, indoor heated swimming pool, 24-hour business center and concierge service. Le Méridien Dallas by the Galleria is situated on 2.9 acres in the North Dallas Galleria market, a retail, office and entertainment district. Located at 13402 Noel Road, the hotel is across the street from the Dallas Galleria, a 1.8 million-square-foot mall that is the second most popular tourist attraction in North Texas with approximately 19 million visitors a year. Additionally, the hotel is surrounded by Class A office space serving as …
EUGENE, ORE. — Lancaster Pollard has provided $6.7 million in financing for Benicia Senior Living to fund the acquisition and rehabilitation of River Grove, a 60-unit assisted living and memory care community in Eugene. The funding will be used to renovate three of the community’s four buildings and build a commercial kitchen to serve the campus. Once renovations are complete, the entire campus will be dedicated to memory care. The financing structure, which included senior and mezzanine loans, allowed for the borrower to avoid raising substantial amounts of equity otherwise required for conventional financing. The financing carries five-year terms. Doug Korey, president of Lancaster Pollard, led the financing.
