loans

Hartford Investment Provides $25M Loan for Refinancing of 706,487 SF Distribution Center in Secaucus

by Taylor Williams September 28, 2020

SECAUCUS, N.J. — Hartford Investment Management Co. has provided a $25 million loan for the refinancing of a 706,487-square-foot distribution center located at 500 Meadowland Parkway in the New York City metro of Secaucus. Built in 1977 and renovated multiple times over the years, the property is situated within the 750-acre Harmon Cove development, about three miles from Manhattan and proximate to Newark Liberty International Airport. Building features include 24- to 26-foot clear heights, 200 loading docks and ample car and trucking parking spaces. Thomas Didio led a JLL team that placed the fixed-rated debt with Hartford on behalf of the borrower, 500 Meadowland Parkway LLC.

September 28, 2020

Loans Multifamily New Hampshire Northeast

Cornerstone Arranges $13.6M Loan for Refinancing of New Hampshire Multifamily Portfolio

by Taylor Williams September 28, 2020

MANCHESTER, N.H. — Cornerstone Realty Capital has arranged a $13.6 million loan for the refinancing of a 242-unit multifamily portfolio in Manchester, located near the New Hampshire-Massachusetts border. The portfolio consists of 10 buildings offering a mix of studio, one-, two- and three-bedroom units, as well as several retail spaces. The nonrecourse loan was structured with a 10-year term and an unspecified period of interest-only payments. The borrower and direct lender were not disclosed.

September 28, 2020

Connecticut Loans Multifamily Northeast

JLL Provides $107.2M Agency Loan for Acquisition of Waypointe Apartments in Norwalk, Connecticut

by Taylor Williams September 25, 2020

NORWALK, CONN. — JLL has provided a $107.2 million Freddie Mac acquisition loan for The Waypointe, a 464-unit apartment community in Norwalk that also houses 56,000 square feet of retail and restaurant space. Units come in one-, two- and three-bedroom floor plans, and amenities include a fitness center, game room, saltwater pool and two parking garages totaling 1,027 spaces. Scott Aiese, Peter Rotchford, Alex Staikos and Brendan Collins of JLL arranged the loan on behalf of the borrower, Invictus Real Estate Partners. The Waypointe was 93 percent occupied at the time of the loan closing.

September 25, 2020

Loans Multifamily Northeast Pennsylvania

Aquinas Realty Receives $13.2M Loan for Refinancing of Philadelphia Multifamily Asset

by Taylor Williams September 25, 2020

PHILADELPHIA — An affiliate of Aquinas Realty Partners LLC has received a $13.2 million loan for the refinancing of AQ Overbrook, a 128-unit multifamily asset in Philadelphia. The borrower acquired the property, which formerly served as a student housing complex for St. Joseph’s University, in 2018 and implemented a capital improvements program to reposition the asset as a market-rate apartment community. Cronheim Mortgage arranged the loan, which carries a five-year term and a fixed interest rate, through an undisclosed local bank.

September 25, 2020

Development Hospitality Loans Northeast Pennsylvania

CHC Arranges $10.5M Construction Loan for Hotel Project in Wilkes-Barre, Pennsylvania

by Taylor Williams September 24, 2020

WILKES-BARRE, PA. — CHC Hotel Capital has arranged a $10.5 million construction loan for a Home2 Suites by Hilton property in Wilkes-Barre, located south of Scranton. The property will feature 107 rooms and is expected to be complete in late spring of next year. The loan was structured with a 30-month term and a 75 percent loan-to-value ratio. The borrower and lender were not disclosed.

September 24, 2020

Loans Multifamily Northeast Pennsylvania

JLL Arranges $33.3M in Financing for Multifamily Redevelopment Project in Philadelphia

by Taylor Williams September 22, 2020

PHILADELPHIA — JLL has arranged $33.3 million in financing for International House, a project that will convert a 14-story office building located at 3701 Chestnut St. in Philadelphia into a 400-unit apartment complex. The borrower, CSC Coliving LLC, will use the funds to acquire the 1.3-acre site, which is located in the University City area, and to begin construction. The two lowest floors will continue to house office and retail users. Chad Orcutt and Blaine Fleming of JLL arranged the financing through PostRoad Group. Completion is slated for summer 2021.

September 22, 2020

Loans Multifamily Texas

Colliers Provides Fannie Mae Acquisition Loan for 128-Unit Apartment Community in Seguin, Texas

by Taylor Williams September 22, 2020

SEGUIN, TEXAS — Colliers Mortgage has provided an undisclosed amount of Fannie Mae acquisition financing for 10Forty8 Modern Living, a 128-unit apartment community located in the San Antonio suburb of Seguin. The property was built in 1973 and consists of two 16-story buildings and a single-story leasing office. Amenities include a pool, fitness center, outdoor grilling area and onsite laundry facilities. Colliers originated the loan, which carried a 10-year term and a 30-year amortization schedule, through a partnership with Old Capital Lending for the borrower, an entity doing business as TFE 321 LLC.

September 22, 2020

Affordable Housing Loans Multifamily Texas

Bellwether Provides $32.6M Agency Loan for Austin Affordable Housing Project

by Taylor Williams September 18, 2020

AUSTIN, TEXAS — Bellwether Enterprise Real Estate Capital has provided a $32.6 million Freddie Mac permanent loan for the construction of Austin Colorado Creek, a 240-unit affordable housing project at 2917 Falwell Lane on the city’s east side. The property will offers one-, two-, three- and four-bedroom units and amenities such as a pool, clubhouse, business center and a playground. A majority of the units (192) will be reserved for renters earning 60 percent or less of the area median income (AMI) and 48 will be reserved for renters earning 50 percent or less of AMI. Phil Melton and Cindy Hannon of Bellwether originated the financing. The borrower was not disclosed.

September 18, 2020

Loans Multifamily New Jersey Northeast Walker & Dunlop

Walker & Dunlop Provides $87.4M Fannie Mae Loan for New Jersey Workforce Housing Portfolio

by Taylor Williams September 18, 2020

NEPTUNE CITY, RED BANK AND MATAWAN, N.J. — Walker & Dunlop has provided an $87.4 million Fannie Mae loan for the refinancing of a 792-unit workforce housing portfolio located in northern and coastal New Jersey. The portfolio includes Brighton Arms Apartments in Neptune City; Grandville Towers in Red Bank; and Tree Haven Apartments in Matawan. John Banas, Kris Wood, John Wilson and Rhett Saltiel of Walker & Dunlop originated the financing on behalf of the borrower, The PRC Group.

September 18, 2020

Industrial Loans New Jersey Northeast

Seagis Receives $65M Loan for Refinancing of Industrial Building in Kearny, New Jersey

by Taylor Williams September 18, 2020

KEARNY, N.J. — Pennsylvania-based investment firm Seagis Property Group has received a $65 million loan for the refinancing of a 415,533-square-foot industrial building located at 50 Central Ave. in Kearny, located west of New York City. The newly built property features 40-foot clear heights and 88 overhead doors and was fully leased at the time of the loan closing. New York Life Real Estate Investors provided the loan.

September 18, 2020

Newer Posts

Older Posts

Upcoming Events

Aug
06