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MOMENTUM PARTNERS ACQUIRES 318 APARTMENT UNITS IN HOUSTON WITH CMBS: ARA NEWMARK

 HOUSTON — Holly Minter, David Schwarz (CCIM) and Tip Strickland of ARA Newmark have closed a 7-year, fixed-rate, commercial mortgage-backed securities (CMBS) loan on behalf of Momentum Real Estate Partners for the acquisition of Provenza at Barker Cypress Apartments in Houston. The 318-unit garden style multifamily community was built in 2014 and offers 1-, 2- and 3-bedroom units.

Since April 2015, the ARA Newmark Houston Capital Markets team has capitalized more than 5,500 multifamily units totaling more than $550 million. The firm is marketing and closing another 11,000 units in Texas and across the US.

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TEXAS FIRM PROVIDES $44M TO PURCHASE HOUSTON RETAIL CENTER

HOUSTON – Q10 KDH Vice President Matt Franke has arranged $44 million in financing for Centre at Bunker Hill in Houston. The multi-anchor retail center measures 430,820 square feet and is 100% occupied.

“A healthy tenant roster and an ideal location made this property attractive to Northwestern Mutual,” said Franke. “Northwestern Mutual proved to be the best match for this transaction in which we consolidated existing loans held by three separate lenders.”

Q10 KDH is a commercial mortgage banking company with offices in Houston and San Antonio.

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HFF SECURES $41.8M FINANCING FOR COLORADO APARTMENT COMMUNITY

AURORA, Colo. – Holliday Fenoglio Fowler, L.P., has arranged $41.8 million in financing for Del Arte Lofts and Flats, a 351-unit multifamily housing community located at 151 South Joliet Circle, Aurora, Colo.

The development, situated nine miles southeast of Denver’s central business district, is 93% leased.

HFF worked on behalf of the borrower, Advenir, Inc., based in Aventura, Fla., to place the seven-year, 2.28%, adjustable-rate loan with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  Advenir will rebrand the property as Advenir at Del Arte and will make improvements.

The HFF debt placement team was led by Josh Simon and Eric Tupler.

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GREYSTONE CLOSES $86M IN LOANS FOR GEORGIA, COLORADO PROPERTIES

NEW YORK — Greystone, a real estate lending, investment and advisory firm, has provided $86 million for two commercial mortgage-backed securities (CMBS) loans for properties in Atlanta, Ga., and Avon, Colo.

The first, a $50 million loan originated by Greystone’s Robert Russell, is for the acquisition of two properties — Rosemont City View and Dawson Forest — in suburban Atlanta. The multifamily developments are being acquired by a Midwest-based borrower.

The second loan, for $36 million, and originated by Ted Nasca of Greystone, is for an upscale, mixed-use project in Avon, Colo. The property includes nearly 200,000 square feet of office/retail space and is 99.7% leased, with 44 tenants.

Proceeds were used to refinance two adjoining properties, Chapel Square and Benchmark Shopping Center.

Both loans are commercial mortgage-backed securities (CMBS) transactions with 10-year terms and a 30-year amortization. Russell is head of production for Greystone’s CMBS team.

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CBRE ARRANGES FINANCING TO BUY HOUSTON AREA APARTMENTS

 SPRING, Texas – CBRE Capital Markets’ Debt & Structured Finance team has secured financing for Waterstone Apartments, a 276-unit multifamily community just north of Houston at 2111 Old Holzwarth Road in Spring, Texas.

Charles Foschini, CBRE vice chairman, along with Christopher Apone and Christian Lee, all of CBRE’s Miami office, arranged a fixed-rate loan on behalf of Miami-based private equity real estate investment manager Momentum Real Estate Partners.  J.P. Morgan provided the loan.

Built in 2012, Waterstone Apartments is a gated community.

Realty News Report is a Texas-based publication. Editor: Ralph Bivins

Oct. 1, 2015

 

 

 

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