|
5/31/17
|
MERIDIAN CAPITAL GROUP -- Ari Adlerstein, Ari Dobkin, and Josh Simpson with Meridian Capital Group arranged $39 mil in bridge financing for the refinance of a 355-bed, two-property skilled nursing home portfolio located in Southern California. The three-year loan, provided by a national balance sheet lender, features interest-only payments for the first two years and allowed for an 85% loan-to-value ratio. The borrower, who owned both properties for over 10 years and maintained them with the utmost attention, was looking for a substantial cash-out in a short time frame with a lender that wouldn't require syndication as a condition of the deal.
WALKER & DUNLOP – Stuart Wernick of Walker & Dunlop structured an $8.8 mil loan for SOCO Apartments, a Class A, garden-style community in Austin, TX. The multifamily complex is located in SoCo, or South Congress Avenue District, which is one of the most trendy and up-and-coming addresses south of downtown Austin. SOCO Apartments has 122 one-, two-, and three-bedroom units, which are over 95% occupied. The 103.6k sf property consists of 16 two-story buildings plus a clubhouse, fitness center, pool, and covered and open-air parking. The development is in close proximity to the entertainment and cultural district as well as education hubs including the University of Texas and St. Edwards University. The 10-year loan is interest-only for the full term.
PACIFIC SOUTHWEST REALTY SERVICES (PSRS) -- Kostas Kavayiotidis with PSRS arranged $5.1 mil in financing on a 149.7k sf, single-tenant industrial building located on Geary Ave in Santa Fe
Springs. The building, situated on 293k sf of land, is utilized as a warehouse and heavy‐manufacturing facility with 29 loading bays. The loan, funded through a life company, has a 15‐year term, which amortizes in 30 years and includes seven years Interest Only.
|
|
Return to the Archive page
|
|
|
|
|