| Historic Fairmont San Francisco Lands $150 Mil Refi
The historic, 606-key Fairmont San Francisco has been refinanced with a new loan for $150 mil. The iconic hotel, listed on the National Register of Historic Places, is owned by an affiliate of Mirae Asset Global Investments.
| Two Sacramento Multifamily Properties Refinanced in Transactions Totaling $42.6 Mil
Two Sacramento area multifamily properties were refinanced in separate loan transactions totaling $42.6 mil. The deals were arranged by Greystone Real Estate Advisors’ Todd Vitzthum, Simon Hermann and Cody Field on behalf of ...
| EPI Limited Partnership Wraps Up 300-Unit AZ Res Buy
EPI Limited Partnership has acquired Riata, a 300-unit, Class A multifamily community in Chandler, AZ. Although we don’t have the purchase price, we can tell you that the acquisition was financed with a loan for $43 mil.
| Glencrest Group Buys 106-Unit Multifamily Property in NoCal
Berkshire Laurel Creek, a 106-unit, garden-style multi-housing property in the northeastern San Francisco Bay Area, was acquired by Glencrest Group. The deal was financed with a $19.11 mil Freddie Mac loan.
Located at 2751 P...
| Janone Development Starts Work on 39-Unit Res Project Adjacent ot L.A.’s Koreatown
Los Angeles-based Janone Development has begun work on a six-story, 39-unit apartment project in Los Angeles. The project is being financed with a $16.6 mil construction loan provided by Parkview Financial.
The development i...
| Commercial Real Estate Financing Briefs
CBRE CAPITAL MARKETS DEBT & STRUCTURED FINANCE - Dana Summers, Doug Birrell, Robert Ybarra, Bruce Francis and Shaun Moothart with CBRE arranged a $39.7 mil loan for the purchase of two multifamily properties in Phoenix, The V...
| Pacific West Communities Lands Tax-Exempt and Taxable Bond Financing for 75-Unit Res Project in Brawley, CA
Pacific West Communities, out of Idaho, has obtained $22 mil in tax-exempt and taxable bond financing for the $28.7 mil construction of a 75-unit affordable housing property in Brawley, CA. The financing was provided by Ameri...
| Res Project North of DTLA Secures $37 Mil in Construction Financing
Parkview Financial has provided construction funding of $37.3 mil for a 112-unit residential development in the Elysian Valley of Los Angeles, just north of Downtown by Glassell Park. The project, a joint venture of River She...
| Phoenix Multifamily Property Lands $21.3 Mil Refi
Next Wave Investors locked up a $21.285 mil refi loan on Westover Parc, a 160-unit, multi-housing property in Phoenix. Jamie Kline, Charlie Vorsheck and Tim Brousse with JLL arranged the 10-year, floating-rate loan through Fr...
| Nakhshab Development & Design Obtains Refi Loan on San Diego Res Project
Nakhshab Development & Design (NDD) has secured a $10.25 mil refi loan for Truax Lofts and Truax House, a newly constructed, 36-unit, modern residential community built with eco-friendly materials in San Diego’s Bankers Hill ...
| Acquisition of Two SoCal Properties Financed with $28.3 Mil Loan
An unnamed, high-net-worth investor has obtained $28.3 mil in financing for the purchase of two SoCal properties, one a medical office building in Tustin, and the other an industrial property in San Diego. The assets had a co...
| ELK Development Locks in $14 Mil for Development of Hollywood Micro-Unit Res Project
ELK Development has secured $14.1 mil in construction financing for an 86-micro-unit development located in the Hollywood opportunity zone census tract. Construction of the project, located at 502 S. Harvard, north of Wilshir...
| Watt Investment Partners-Led Venture Secures $70 Mil on Two Office Buildings in the Culver City Area
In a recent office financing transaction, a venture between Watt Investment Partners and an unidentified institutional investor has obtained a $70 mil refi loan on two recently renovated office properties in the Culver City a...
| The Luzzatto Company to Renovate Industrial Property in L.A.’s West Adams District into Creative Office Space
The Luzzatto Company Inc has locked in $48.7 mil in construction financing for Exposition 3, a 94.1k sf, creative office property that when complete will serve as the new headquarters for a fast growing company in Los Angeles...
| CAI Investments LLC Buys Harrah’s Hotel and Casino in Reno with $26 Mil Loan Arranged by Highland Capital
CAI Investments LLC has acquired the Harrah’s Hotel and Casino in an opportunity zone in downtown Reno.
CAI plans on redeveloping the 1.3 msf, 900-room, two tower hotel and casino/commercial space into 528 multi-family uni...
| CRE Development Investments Starts Work on 115-Unit Denver Multifamily Development
CRE Development Investments has begun work on Art District Lofts, an eight-story, 115-unit res development located at 1275 Santa Fe Drive in Denver, CO. Construction of the project, which also includes 2.6k sf of ground-floor...
| Seattle Seniors Housing Property Refinanced with $13.9 Mil HUD-Insured Loan
The Savoy at Lake City Senior Living, an 80-unit, seniors housing complex in Seattle, was refinanced with a $13.9 mil HUD-insured loan. The property, constructed in 2017, is owned by Lake City Project Associates LLC.
| San Jose Mobile Home Community Lands $52 Mil Fannie Mae Refi Loan
Chateau La Salle, a mobile home community in San Jose, was just refinanced with a new, $52.25 mil Fannie Mae loan. Built in 1980, the property consists of 434 pads set across 58 acres of well-manicured grounds. The loan was a...
| Pacific Heritage Communities Locks Up $54 Mil in Permanent Financing on New Ventura Res Community
Pacific Heritage Communities has secured a $54 mil permanent loan on Parklands Apartments, a newly completed 173- unit multifamily community in the city of Ventura.
Located at 10940 Bajo Rd, at Telegraph Rd, a few blocks fro...
| R&V Management Buys 129-Res Property in San Diego’s Downtown Area
An affiliate of San Diego-based R&V Management has acquired AV8, a 129-unit multifamily property in the city’s Little Italy neighborhood. The purchase was financed with a loan of $43 mil.
Located at 2175 Kettner, AV8 was ori...