The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
April 14, 2021
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC... NEWS
Printer-friendly Version   Email an Associate
Commercial Financing Briefs

2/03/21

BERKADIA -- Allan Freedman and Nick Provost with Berkadia secured a $65.6 mil refi loan on Laguna Serrano Apartments, a garden-style multifamily property located in Laguna Niguel, on behalf of an undisclosed California-based borrower. Located at 30001 Golden Lantern, Laguna Serrano Apartments features one-, two- and three-bedroom floor plans with walk-in closets, private patios or balconies, stainless-steel appliances and quartz countertops. Community amenities include a fitness center and a swimming pool. Residents are afforded convenient access to Salt Creek Beach, Laguna Heights Marketplace and Saddleback College. The 10-year Fannie Mae, fixed-rate loan features a 2.84% interest rate and is full-term interest-only. The loan has a flexible prepayment schedule with no prepayment penalty for the last three-years.

NORTHMARQ CAPITAL -- NorthMarq’s Dennis Williams and Tom Wight, along with colleagues Jackie Goldsmith, Anika Sachse-Tiglao and Soraya Rios, arranged a $59 mil, non-recourse refi loan on Ilara Apartments, a mid-rise luxury multifamily community located in Milpitas. The 200-unit luxury apartment community is conveniently located in Silicon Valley, and features community amenities such as a state-of-the-art fitness and conditioning club, social lounge with kitchen and gaming room, pool and spa with fireside lounge, and common-area WiFi. Units feature open floor plans with nine-foot ceilings, stainless steel appliances, gas stoves, in-home washer and dryer, central heating and air conditioning, and private patios and balconies. The loan was funded through a correspondent life insurance company on behalf of the Sponsor, JB Matteson Inc. of San Mateo. The loan bears a fixed 3.10% interest rate with interest-only debt service payments for the full 10-year term.

VENTURE WEST FUNDING -- Matt Douglas of Venture West Funding secured $56.5 mil for the refinance of six apartment buildings located in prime areas of Los Angeles. The Class A portfolio is owned and managed by a local real estate investor/developer, and consists of 210 total units, with buildings ranging from 13 to 92 units. The borrower acquired the six properties in the last 15 years and extensive upgrades have been completed on most of the units. The well-maintained properties feature first-class amenities, spacious units with upgraded kitchens, bathrooms and exteriors. The loan was funded through First Foundation Bank. The non-recourse, cash-out loans were secured at a very competitive, five-year, interest-only fixed rate.

Timbers at Jackson Hole, WY
Timbers at Jackson Hole, WY


























GANTRY -- Adam Parker and Chad Metzger with Gantry’s Phoenix production office arranged $20.7 mil in financing for the Timbers at Jackson Hole in Jackson Hole, WY. The 85-unit multifamily property is conveniently located less than two miles from Downtown Jackson. The 10-year loan was funded through an agency lender. According to Gantry’s Parker, “Jackson Hole is known for its stunning natural beauty and being a world renowned ski and resort destination. Under normal conditions, the Timbers at Jackson Hole property benefits from significant demand in a supply-constrained market. However, the COVID-19 pandemic temporarily slowed rental demand for a couple of months in the spring of 2020.” By the fall of 2020, the property was operating at near 98% occupancy with three (3) solid months of elevated rental collections which allowed the loan to be executed as planned.

CUSHMAN & WAKEFIELD’s EQUITY, DEBT & STRUCTURED FINANCE GROUP -- Baxter Fain, Christina Grimme and Sarah Dinning with Cushman & Wakefield’s Equity, Debt & Structured Finance Group has arranged the acquisition debt and joint venture equity financing for Glenwood Village Apartments, a 48-unit apartment complex located at 2747 Glenwood Ct in Boulder, CO. The purchase transaction closed with an equity investment of $11 mil and debt financing of $7 mil, with a 30-month term of interest-only payments, a fixed coupon of 3.25% and non-recourse.

CBRE CAPITAL MARKETS DEBT & STRUCTURED FINANCE -- Andrew Behrens and Jesse Weber of CBRE Capital Markets’ Debt & Structured Finance team in San Francisco has arranged a $13.8 mil, 10-year fixed rate acquisition loan for the purchase of The Township, a 92-unit multifamily community in Canby, OR. Located at 700 SE 5th Ave, The Township contains 13 buildings and was 98% leased at the time of sale. The unit mix is comprised of one-, two- and three-bedroom floorplans with an average unit size of 987 sf. Apartment amenities include decks, patios and washer-dryer units. Community amenities include a clubhouse, fitness center, playground, storage units and 166 parking spaces. The site is located approximately 25 miles south of Portland. The buyer is San Francisco-based Glencrest Group. Josh McDonald with CBRE’s Portland office represented the seller of the property.




Return to the previous page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2021 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media