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| The Corsicana Brothers
Last week's commercial loan originations
April 24, 2002
By SAM GARCIA |
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| Holliday Fenoglio Fowler, L.P. arranged financing for a Dallas 16-story office tower through Aegon USA Realty Advisors, a life insurance company lender. The $19 million loan is secured by 8333 Douglas Avenue, a Class A property built in 1975.
Holliday also provided $18.3 million in financing for 100 Southgate Parkway, a 150,000 square foot building located in Morris Township, New Jersey. The loan was secured from an undisclosed midwest life insurance company for an undisclosed borrower.
PW Funding Inc. provided $3.2 million in mortgage financing for two Oklahoma apartment complexes under Fannie Mae's Multifamily Affordable Housing program. The first complex, Chapel Ridge Apartments in Pauls Valley, is a 149 unit garden apartment complex. A Regulatory Agreement on that property indicates that some
| of the units are to be rented to low income residents. The 7.93% loan on Chapel Ridge has a debt service coverage ratio (DSCR) of 1.20 times (x) and a loan to value (LTV) of 77%. The second complex, Brookstone Park Apartments in Bristow, is a 31 unit garden apartment complex also with a regulatory agreement requiring some of the units be rented to low income residents. The 8.03% loan has a DSCR of 1.20x and an LTV of 80%. |
Brookstone Park Apartments
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MortgageDaily.com 
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| GlobeSt.com reported the following transactions:
Broker
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Lender
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Borrower
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Property (ies)
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Loan Amount
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Term
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Rate
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Fleet Bank |
Newark Renaissance House |
abuse treatment facility, Newark, NJ |
$3.6 mil |
constr loan converts to mortgage |
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| Welsh Capital |
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- Pine Tree Apartments, St. Paul, a 199-unit residential complex
- Emerald Point Apartments, St. Paul, a 164-unit residential complex
- 1111 Seventh Ave South, Minneapolis, a 42-unit residential complex
- 1414 Third Street South, Minneapolis, a 70-unit residential complex
- Beverly Apartments, Anoka, a 52-unit residential complex
- Robert Square Shopping Center, St. Paul, a 24,000-sf retail center
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$18 mil |
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| NorthMarq Capital |
Citywide Banks of Denver |
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Clear Creek Commons, a 45-unit senior housing/independent living facility in Golden, CO |
$6.5 mil |
constr loan |
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| Holliday Fenoglio Fowler, L.P. |
JP Morgan Mortgage Capital |
Windrose Housing LP |
Windrose Apartments, Kansas City, MO |
$9.8 mil |
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| Holliday Fenoglio Fowler, L.P. |
American United Life |
Acme Supermarket |
Retail property in Randolph, NJ |
4.35 mil |
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| Tremont Realty Capital |
Northwestern Mutual |
Kimco Realty Corp. of Florida |
350,000-sf warehouse leased to Kohl's, Corsicana, TX |
$8.5 mil |
19.5 years |
6.6% |
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| NorthMarq Capital |
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150,873-sf office bldg at 11080 Circle Point Rd, Westminster, CO, & 89,739-sf warehouse 4520 Florence St, Denver, CO |
$19.25 mil |
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| Sam Garcia has been in mortgage lending since 1980, and is managing editor of MortgageDaily.com. He also owns and operates CloseNow.com, a real estate portal site.
email: [email protected]
Copyright © 2002 Sam Garcia
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