|
|
|
|
10/18/23
|
Village at Golden Triangle, Fort Worth, TX |
 |
|
TOWER CAPITAL - Kyle McDonough and George Maravilla with Tower Capital arranged more than $135 mil in construction financing for the development of two projects in Texas on behalf of Empire Group, an Arizona-based developer. In the latest deal, the firm arranged $72.9 mil in financing for the Village at Golden Triangle, a 317-unit BTR community in Fort Worth, TX. Tower Capital also arranged $62.4 mil in non-recourse construction financing for the development of the Village at Hutto Station, a 276-unit BTR community north of Austin, TX. The Village at Golden Triangle is situated on 30 acres near North Riverside Dr and Golden Triangle Blvd in Fort Worth. The community includes a mix of one- to three-bedroom layouts and distinctive features such as private walkways in private yards, parking that is convenient to resident’s front doors, along with pet doors, pet parks, and dog washing stations. Amenities include a pool, outdoor grilling areas, a fitness center, community clubhouse and areas where residents can wash their cars. The units will feature solid surface quartz countertops, stainless steel appliances, premium kitchen backsplashes, full-size washers and dryers, and upgraded smart-home features and technology. Construction on the Village at Golden Triangle is anticipated to commence in October 2023.
JLL CAPITAL MARKETS - Matt Stewart, Ace Sudah and Daniel Skerrett with JLL Capital Markets arranged $84 mil in post-close acquisition financing for Azusa Industrial Center, a three-building industrial park totaling 432.5k sf located in Azusa, on behalf of the borrower, IDS Real Estate Group. The four-year, floating-rate loan was funded through PGIM Real Estate’s debt fund focused on transitional bridge lending. The PGIM Real Estate team was led by Jace Bertges. Built between 1986 and 1987, the 432.5k sf, three-building industrial property is 100% leased to four tenants and features institutional-grade industrial specs. Spanning 23.6 acres, the property features a total of 73 dock-doors, seven grade-level doors, truck courts ranging from 130 to 160 feet, and clear heights ranging from 24 to 30 feet. Azusa Industrial Center offers a ground-zero industrial logistics location with close access to Southern California’s robust freeway network, located minutes from the I-210 and I-605 Freeways. The Property is also located near other key nodes of transit, such as Ontario International Airport, the Los Angeles & Long Beach Ports, and Los Angeles International Airport.
BWE - Steve Perricone and Tom Mazlo with secured a $32.6 mil loan to provide first mortgage financing for First Street Village, a newly constructed mixed-used development in downtown Burbank. First Street Village has 94 residential units and 6.1k sf of 100% pre-leased commercial space. The new market-rate housing development is six stories tall and boasts excellent highway access, covered on-site parking, and proximity to a major regional shopping district. Other amenities include an outdoor swimming pool, a fitness center, a spa, a sundeck, a business center, and a landscaped courtyard. The building’s split of studio, one-, two-, and three-bedroom apartments feature quartz countertops, Energy Star rated appliances, European cabinetry, nine-foot ceilings, and in-unit washer/dryers. The loan has a 15-year term with a 30-year amortization and is open to prepayment at par after nine years. The borrower used the proceeds to pay off an existing high-interest construction loan. The loan was provided by a life company.
27741 Crown Valley Pkwy, Mission Viejo |
|
|
MARCUS & MILLICHAP CAPITAL CORPORATION - Rick Judge with Marcus & Millichap Capital Corporation arranged $21.8 mil in financing for the purchase of Kaleidoscope Center, a retail shopping mall with office space located at 27741 Crown Valley Pkwy in Mission Viejo. Terms of the five-year loan include one year of interest-only payments at 7.5% followed by 25-year amortization. Major tenants include L.A. Fitness, Edwards Theatres, Mariners Church, DMV, and Buffalo Wild Wings.
|
|
 Return to the Archive page
|
|
|
|
|
|
Printer-friendly Version
Email an Associate
