| Empire Group Secures $88.5 Mil for Development of 354-Unit BTR project in Phoenix
Tower Capital has arranged $88.5 mil in construction financing for a Build-to-Rent (BTR) community in the Phoenix market. The financing is for Village at Bronco Trail, a 354-unit project planned for development by Scottsdale-...
| Commercial Real Estate Financing Briefs
BANDON CAPITAL ADVISORS - Bryan Kenny with Bandon Capital Advisors arranged an $11.5 mil refi loan for a 3.11-acre covered-land industrial site with space for Industrial Outdoor Storage (IOS) in Costa Mesa, and secured $5 mi...
| BH Properties Introduces Affordable Housing Investment Initiative
BH Properties (“BH”) has launched a new investment initiative into affordable housing with a goal of ultimately building a $1 bil portfolio of assets. The new initiative will be led by veteran affordable housing executive Wi...
| Here’s a Quick Update on Two Hotel Financing Deals Worth Over $40 Mil
In recent hotel financing news, Tucson-based Khangura Development has obtained a $19.1 mil bridge loan for the Residence Inn by Marriott Phoenix Mesa East. The loan was provided by Dallas-based HALL Structured Finance.
| Gantry Arranges $30 Mil in Two Recent Apartment Financing Deals
Here’s news of a couple of apartment financing deals, both arranged by Gantry. The deals – an acquisition loan in Tempe, AZ and a refi in Auburn, WA -- total $29.8 mil.
The larger transaction was a $17.7 mil acquisition loan...
| Prime Residential Lands $947 Mil Refi on L.A.’s Park La Brea Res Complex
Prime Residential has secured a $947 mil refi loan on Los Angeles’ historic Park La Brea, the largest apartment community on the West Coast. The financing, arranged by Newmark, is to retire existing debt. Freddie Mac expects...
| Dekel Capital Introduces Multifamily Credit Platform
Dekel Capital has launched a new credit platform offering multifamily owners and investors mezzanine and preferred equity capital between $2 mil and $10 mil for the acquisition and refinancing of assets throughout the United ...
| Bay Area Office Building Lands $11.3 Mil Refi
In a recent Bay Area office financing deal, a six-story, 83.6k sf multitenant tower in Berkeley was refinanced with a new permanent loan for $11.3 mil. The building, originally built in the 1960s, is currently home to more th...
| Riverside Shopping Center Lands $37 Mil in Financing
Regional Properties has obtained $37 mil in financing for Mission Grove Plaza, a 248.1k sf shopping center in Riverside. The property is located at 121 – 383 East Alessandro Blvd, east of I-215 at Trautwein Rd.
| Blatteis & Schnur Secures $27 Mil to Build Spec Retail Project Along Santa Monica’s Third Street Promenade
Here’s news of a spec retail development along Santa Monica’s iconic Third Street Promenade. The three-story, 25k sf project is being developed by Blatteis & Schnur, who are replacing a 77-year-old mixed-used building that th...
| The McBride Cohen Company Secures $385 Mil in Debt and Equity for Construction of AZ Mixed-Use Project
The McBride Cohen Company has secured $385 mil in debt and equity for the construction of South Pier at Tempe Town Lake Phase I, a 737.6k sf, waterfront, trophy mixed-use project in Tempe, AZ. The development will include 724...
| Landmark Companies Lands $45 Mil for TX Res Development
Landmark Companies has secured $45 mil in construction financing for Arden at Corinth, a 296-unit multifamily project in Corinth, TX. The total project cost is $63.3 mil.
The project, a ground-up, Class A res development co...
| Investor Lands $53 Mil Loan on AZ Retail Center
An unnamed private investor has obtained $53.4 mil permanent loan to retire construction debt for the first phase of a multi-phase retail project. The project, The Village at Prasada, is a 700k sf retail power center located ...
| Kennedy Wilson Acquires Initial Tranche of Loans Valued at $3.25 Bil in Total Commitments
Kennedy Wilson has acquired an initial tranche of loans as part of a $5.7 bil loan portfolio purchase from Pacific Western Bank. This first tranche of loans acquired by Kennedy Wilson and certain controlled affiliates of Fair...
| Empire Group Obtains $120 Mil in Financing on Two AZ Build-to-Rent Projects
Scottsdale, AZ-based Empire Group has secured $120.5 mil in financing for two Build-to-Rent (BTR) communities in the Phoenix market. The lease-up bridge and construction financing is for the newly developed Village at Pioneer...
| East Bay Industrial Park Secures $19.4 Mil Refi
Central Avenue Center, a five-building, 150k sf multi-tenant industrial park in the East Bay city of Richmond, was refinanced with a $19.4 mil permanent loan. It was used to take out a maturing CMBS loan.
The park serves a d...
| Milan Capital Lands $12 Mil Refi on Oceanside Retail Center
Milan Capital Management has obtained a $12.05 mil refi loan on Mission Promenade, a 105.7k sf, dual grocery-anchored shopping center in Oceanside.
Built in 1972 and renovated in 1999, Mission Promenade is currently 97% occu...
| New Mountainside Fitness-Leased Retail Building in the Phoenix Area Secures $7.65 Mil in Financing
A new 40k sf retail building in the greater Phoenix area that is 100% leased to Mountainside Fitness, a health club operator with 19 Phoenix Region locations, has been financed with $7.65 million of construction-to-permanent ...
| Welcome Group Secures $37 Mil in Construction Money for Pasadena Hotel Project
Welcome Group Inc has secured $36.8 mil in financing for the construction of a 194-key, six-story hotel development in the Playhouse District of Pasadena. The project is located at 550-566 E Colorado Blvd, south of the 210 Fw...
| Recently Completed Washington Multifamily Development Lands $14 Mil Fannie Mae Refi
Kōz on Weaver Road, a 100-unit senior housing community located just outside of downtown Snohomish, WA, was refinanced with a new Fannie Mae DUS® loan for $14 mil. In the transaction, Cushman & Wakefield served as the ex...