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February 15, 2019
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Commercial Real Estate Financing Briefs


NORTHMARQ CAPITAL - North Marq Capital’s Scott Monroe arranged a $27.56 mil Freddie Mac refi of Element, a 46-unit student housing property located at 2595 S. Hoover St in Los Angeles. The brand new complex is in a prime position on the University of Southern California’s (USC) campus and offers numerous modern amenities to comfort all USC students. The transaction was structured with a 10-year term on a 30-year amortization schedule.

NEWMARK - George Mitsanas and Tim Storey with Newmark® arranged $22.5 mil in permanent financing for a brand new, institutional quality, single-tenant building located in Fort Worth, TX. The loan is secured by a 712k sf distribution facility that is 100% leased to a credit tenant. The subject sits on just over 43 acres and is located approximately four miles from the Meacham International Airport. The 10-year, non-recourse financing was funded through a correspondent life insurance company and will be serviced by Newmark.

Radiator Building, Portland
Radiator Building, Portland
HFF - Jordan Angel and Zachary Kersten with HFF arranged $8 mil in financing for the Radiator Building, a 34.3k sf office property in Portland, OR. Completed in 2014, the Radiator Building is a five-story, all-timber office building, the first of its scale built within a century in Portland. The Radiator Building is anchored by The Kartini Clinic, an internationally recognized pediatric eating disorder treatment program. On-site amenities at the fully leased property include ground floor retail space, secured bike parking, showers on every floor and on-site parking. The Radiator Building is located at 3530 North Vancouver Ave, at its intersection with North Fremont St. The 11-year, fixed-rate acquisition loan was funded through a life company on behal of the borrower, Manchester Capital Management. HFF will also service the loan.

ARCHWAY FUND - Archway Fund has financed a $5 mil acquisition loan secured by two multi-family properties located in the Congress Park sub-market of downtown Denver. The properties total 47.3k sf of space and contain a combined 50 units. The sponsor was under contract to purchase both properties off-market and needed to close quickly in order to execute on their PSA. The sponsor is an experienced real estate investor who saw this as a value-add opportunity with plans of increasing rents by 20% on day one. Exit is a traditional refi once property is stabilized.

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