home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.

Apartment, Office & Retail Buildings Financed

Recent commercial mortgage transactions

November 16, 2007


photo of Coco Salazar

Multifamily activity again dominated the latest commercial mortgage activity, though multiple office transactions were originated. Deals tracked in this edition totaled nearly $200 million.

Lehman Brothers provided a $7.1 million first mortgage for the acquisition of Pleasant Run Apartments, a 240-unit property in Lancaster, Texas, NorthMarq Capital Inc. announced.

Villa Vincennes, an 80-unit apartment community in San Fernando Valley, Calif., collateralized a $13.3 million construction loan by Principal Global Investors, Holliday Fenoglio Fowler LP announced. Southbrook Equity agreed to a 12-year term and fixed rate on the construction-to-permanent loan for the property, which is due for completion in 2009.

photo of New York luxury multifamily highrise

A 31-story luxury apartment building in New York with 156 units secured a $61.0 million loan arranged for Lalezarian Properties, Meridian Capital Group announced. The building also has 1,800 square feet of commercial space.

In retail property financing, PNC Bank funded a $2.3 million first mortgage for Tractor Supply, which fully occupies the 19,104-square-foot building in Millersburg, Ohio, NorthMarq reported. The 10-year loan has a 30-year amortization schedule.

Over in Chicago, a Loehmann's Department Store secured $12.0 million in financing from Citigroup Global Markets Realty Corp. The loan for the two-story property of 27,385 square feet has a 10-year term with interest only for 3 years then a 30-year amortization schedule, NorthMarq said.

In the world of office building financing, First National Bank & Trust Co. funded a $4.7 million construction/mini-permanent loan secured by to-be-built Doctor's Hospital Medical Office Building in Bridgeport, Texas. The three-story, Class A building is due for completion at the end of 2008 and is 70 percent pre-leased. The loan borrower is West 380 Medical Office Building LLC, according to Holliday, a subsidiary of Pittsburgh, Penn.-based HFF Inc.

Joint venture equity placement of $12.0 million was secured by 18301 Von Karman Avenue, a 230,600 square foot office property purchased by The Hearn Co. and Diversified Real Estate Capital, NorthMarq reported. Major tenants of the Irvine, Calif., property are Golden State Foods and Compuware Corp.

In Washington, D.C., 1900 M Street NW secured a $53.0 million loan by Anglo Irish Bank. Dweck Properties agreed to a 5-year, fixed-rate loan. The fully-leased 111,531-square-foot building has eight stories of office space, ground floor restaurants and retail shops, an underground valet parking garage and houses Grant Thornton, the American Society of Hematology and Levick Strategic Communications, Holliday reported.

Northline Industrial received a $1.4 million loan secured by a 21,600-square-foot, multi-tenant, industrial property in Cornelius, N.C. JPMorgan Specialty Assets funded the 10-year loan with a 30-year amortization schedule, Minnesota-based NorthMarq said.

Meridian said it arranged a $3.4 million refinance loan for a Trinity International University building in Davie, Fla. The non-recourse mortgage, which was made to StreamLine Management through GE's SMART program, had a 6.84 percent rate and a 10-year term. Total costs reportedly were $6,500.

Best Western Sea Wake Beach Resort in Clearwater Beach, Fla., collateralized a 10-year fixed-rate mortgage of $21.1 million, which features interest-only payments for the first two years and replaces a full-recourse, floating-rate mortgage. An affiliate of a Wall Street investment bank funded the first mortgage for the 110-room resort of six stories nestled on 500 feet of private beach land, Santa Monica, Calif.-based Vista Capital Co. announced.

Coco Salazar is an associate editor and staff writer for MortgageDaily.com.

e-mail: [email protected]

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders