Sara Havlena
Bernard Financial Group
20700 Civic Center Drive, Suite 240
Southfield, MI 48076
Joshua Bernard, Principal
(248) 799-9200
jbernard@bernardfinancial.com
Bernard Financial Group closed a $6.5M permanent loan for a 23,500-s.f. Class A+ office building in Birmingham, Mich. American United Life Insurance Company provided the loan.
Cushman & Wakefield
1290 Avenue of the Americas
New York, NY 10104
Christopher Moyer, Senior Managing Director
(212) 841-9220
chris.moyer@cushwake.com
Cushman & Wakefield closed $34M for Laguna Creek Apartments in Elk Grove, Calif., with HIMCO. Moyer also closed $71M for Peloton Apartments in Portland, Ore., with Hangang Asset Management on behalf of a Korean bank syndicate.
EagleBridge Capital
1 Boston Place, Suite 2600
Boston, MA 02108
Ted Sidel, Founder/Principal
(617) 292-7177
tsidel@eaglebridgecapital.com
EagleBridge Capital arranged a $26M acquisition loan for a two-building, 210,000-s.f. two-story office to R&D conversion in Wilmington, Mass.
Grandbridge Real Estate Capital
2200 W. Loop S., Suite 600
Houston, TX 77027
Robert LaRue, SVP
(713) 993-1333
rlarue@grandbridge.com
Grandbridge recently closed a $31.4M bridge loan for a student deal that had encountered construction delays and overruns due to the pandemic. Grandbridge also just locked rate at 4.4% for the acquisition of a three-property multifamily portfolio in the Rio Grande Valley.
JLL
67 E. Park Place, Fourth Floor
Morristown, NJ 07960
Thomas Didio, Senior Managing Director
(973) 549-2008
thomas.didio@am.jll.com
JLL secured a $88M construction/perm loan for a 23-story 317-unit apartment building in Jersey City, N.J., with AIG. The loan is locked for 15 years, which will cover the construction and the balance of the term for a perm loan and the borrower will have the ability to earn out more proceeds.
One Front St., Suite 2100
San Francisco, CA 94111
Charles Halladay, Senior Managing Director
(415) 276-6085
charles.halladay@am.jll.com
Rick Salinas, Director
(415) 510-6960
rick.salinas@am.jll.com
JLL arranged $80M in acquisition financing for Stone Cliff, a multifamily property in Denver with a life company lender.
Marcus & Millichap Capital Corporation
250 Pehle Ave., Suite 501
Saddle Brook, NJ 07663
Gerald Kray, First VP, Capital Markets
(201) 742-6165
gkray@marcusmillichap.com
Marcus & Millichap secured a $13.5M construction loan for a 121,500-s.f. industrial project in East Windsor, N.J., a suburb of Trenton. The project is fully preleased to a logistics firm. The loan had a 3.75% interest rate and 70% LTC.
PSRS
11911 San Vicente Blvd., Suite 390
Los Angeles, CA 90049
Michael Tanner, President/Principal
(310) 440-2304
mtanner@psrs.com
PSRS arranged the $4.3M refi of an industrial property in Garden Grove, Calif. This single-story building contains 60 parking spaces and 18’ ceiling height. Financed with a life company, PSRS was able to secure a non-recourse loan with a 10-year term and 30-year amortization.
Thomas D. Wood and Company
8470 Enterprise Circle, Suite 300
Lakewood Ranch, FL 34202
Brad Cox, SVP
(941) 552-9731
bcox@tdwood.com
Thomas D. Wood secured $5M for a Hampton Inn in West Melbourne, Fla., with Symetra. The LTV was 49% and the rate was 3.79%. The loan has a 15-year term and 20-year amortization. Symetra required full recourse.
Tower Capital
15333 N. Pima Road, Suite 375
Scottsdale, AZ 85260
David Stull, Associate
(480) 426-0560
david@towercapllc.com
Tower Capital recently facilitated $5.85M in JV equity financing from an institutional private equity firm for the development of a 120,000-s.f. spec industrial warehouse in Goodyear, Ariz. Tower Capital was able to find a JV partner that would close and begin funding during predevelopment.
