DENTON, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $2.6 million acquisition loan for a 55-unit multifamily property located in Denton. The loan featured an 80 percent loan-to-value ratio, a seven-year term, 4.75 percent interest rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.
SEATTLE — The 328-unit Leilani on Greenwood apartment complex in Seattle has received $47.8 million in acquisition financing. The community is located at 10215 Greenwood Ave N. Leilani on Greenwood contains two mid-rise apartment properties that feature a mix of studio, one- and two-bedroom apartments, in addition to live/work spaces. Common-area amenities include concierge services, a resident lounge, business center, fitness facility, resident theater, and multiple indoor and outdoor community gathering areas. The property was developed by Weidner Apartment Homes. The 10-year, fixed-rate loan was closed by Joe DeCarlo and Sean Sunderland of M&T Realty Capital Corporation. It features a 3.45 percent interest rate and a 59.8 percent loan-to-value.
LAS VEGAS — NorthMarq Capital has arranged the $16.85 million refinance of Trop Dec Plaza, a 74,824-square-foot retail property located on Tropicana Avenue in Las Vegas. The transaction was structured with a 10-year term, and has a 30-year amortization schedule. Scott Monroe of NorthMarq arranged financing for the borrower with a CMBS lender.
ODESSA, TEXAS — NorthMarq Capital’s Denver office has arranged $29.3 million in financing for Andalucía Villas located at 5075 E. 52nd St. in Odessa. Constructed between 2012 and 2013, the community consists of 402 units contained in 17 two- and three-story residential buildings. Property amenities include gated access, business and 24-hour fitness centers, putting green, bocce ball court, splash pad, three onsite dog parks, outdoor pool and fireplace along with four barbecue areas. Units have washer/dryers, tile flooring, built-in decks and, in select units, garages, and garden bathtubs. Greg Benjamin and Jeff DeHarty of NorthMarq arranged the financing for the borrower, a division of Weidner Investment Services Inc.
VICTORVILLE, CALIF. — Cambridge Realty Capital Companies has arranged a $12.3 million HUD Lean loan to refinance Knolls West Post Acute, a skilled care nursing facility located in Victorville. The fully amortized, 30-year loan was arranged for the owner, a California limited liability company, using the HUD Section 232 funding program. Cambridge Realty Capital Ltd. of Illinois underwrote the transaction.
DALLAS — NXT Capital has provided a $22.3 million first mortgage loan to finance the acquisition of two multifamily properties located in Dallas. The two properties total 394 units. Both properties provide access to I-635, eastern Dallas and Uptown Dallas. One of the properties offers two swimming pools and a fitness center, and the other property offers a swimming pool and a clubhouse. Andy Scott of HFF’s Dallas office placed the loan. NXT Capital’s real estate finance group primarily serves experienced real estate investors with non-recourse first mortgages of $10 million to $40 million for major-market properties.
GRANITE BAY, CALIF. — Cain Brothers Funding LLC, the mortgage banking affiliate of Cain Brothers, has arranged a $13.7 million mortgage loan for Eskaton Lodge Granite Bay, a 105-unit nonprofit assisted living facility in Northern California. The proceeds of the FHA loan were used to retire existing bank debt and an interest rate swap. As a result of the refinancing, Eskaton was able to eliminate the risks associated with the bank debt/swap structure and replace it with a 35-year fully amortizing loan with a fixed mortgage note interest rate of 3.07 percent.
DALLAS, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $924,000 purchase loan for a 16-unit apartment property located in Dallas. The five-year loan includes a 3.9 percent interest rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent bank relationships.
LEANDER, TEXAS — Dougherty Mortgage LLC has secured a $7.7 million Fannie Mae loan for the refinancing of Merritt Legacy Apartments, a 208-unit multifamily affordable housing property located in Leander. The 15-year loan includes a 35-year amortization schedule and was arranged by Dougherty’s Dallas office. Amenities include Energy Star appliances, washer and dryer connections, large closets and private patios or balconies with extra storage. Property features include a pet-friendly environment with pet stations, a pet park, library, fitness center, covered parking, swimming pool, barbecue grills and picnic tables.
SANTA CLARA, CALIF. — Parkview Financial has funded a $10.7 million construction loan for a mixed-use project located in Santa Clara. The new project will feature more than 6,500 square feet of retail space and 28 condominiums. The sponsor is an experienced developer, which began purchasing the development parcels for the project in 2012. Paul Rahimian of Parkview Financial arranged the financing.