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3/04/10
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NEWMARK REALTY CAPITAL -- Newmark Realty Capital Inc has arranged permanent financing in the amount of $12 mil to facilitate the purchase of Petaluma Marina Business Center. The subject property consists of three inter-connected Class A office buildings totaling approximately 116k sf and is located adjacent to the award-winning Sheraton Sonoma County-Petaluma Hotel and Marina. Newmark’s Thomas Dudley, Jr. and James McConnico secured the financing with one of Newmark’s correspondent life insurance company lenders. The fixed rate loan is amortized over 30 years.
JOHNSON CAPITAL -- Kevin Burkhalter of Johnson Capital arranged $4.5 mil in permanent financing on a 113k sf industrial building in the city of Carson. Completed in 1999, the property consists of a concrete tilt-up industrial warehouse and distribution building that is 100% leased. Financing was arranged through a major insurance company that was able to rate-lock 90 days prior to closing. The loan has fixed-rate of 6.30% and a 15-year term with interest-only payments for the first five years and a 30-year amortization for the remaining 10 years.
HOLLIDAY FENOGLIO FOWLER – The San Diego office of HFF (Holliday Fenoglio Fowler L.P.) has arranged $3.335 mil in refi money for Silver Oaks Apartments, a 57-unit multi-housing community in El Cajon. Silver Oaks Apartments is located at 945 Estes St, close to I-8 and approximately 12 miles northeast of downtown San Diego. The property has one- and two-bedroom units and is currently 98% occupied. Community amenities include a pool and on-site laundry and storage facilities. HFF’s Rob Hinckley and Tim Wright secured a 10-year, 5.90% fixed-rate Fannie Mae loan through Centerline Capital Group. This loan was originated to pay off a seller’s note and secure historically low-priced long-term debt. The borrower is a Linda Vista, CA-based private investor.
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