Western Real Estate Business

JUL 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

Issue link: https://westernrealestatebusiness.epubxp.com/i/1001516

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Page 6 of 32

F I N A N C E 6 • July 2018 • Western Real Estate Business www.REBusinessOnline.com PROPERTY CLASS LOCATION (CITY, STATE) SIZE AMOUNT LENDER ARRANGED BY Castile Apartments Multifamily Henderson, Nev. 498 units $57 million Freddie Mac Walker & Dunlop Artisan Apartments Multifamily Huntington Beach, Calif. 277 units $54 million Undisclosed life insurance company Newmark Ralphs Grocery Retail Santa Monica, Calif. 51,000 SF $21 million John Hancock Life Insurance Co. Venture West Funding Hawaiian Gardens Apartments Multifamily Hawaiian Gardens, Calif. 264 units $12.4 million Fannie Mae Dougherty Mortgage Undisclosed Assisted living Salt Lake City 95 beds $11.5 million Undisclosed Carnegie Capital Centennial Hills Skilled Nursing Facility Assisted living Las Vegas 72 beds $11.3 million Undisclosed national bank NorthMarq Capital Horizon West Apartments Multifamily Anchorage, Alaska 29 units $2.8 million Fannie Mae Hunt Mortgage Group FINANCIAL SCOREBOARD Loans Recently Closed For Western Properties CBRE SECURES $71.5 MILLION IN FINANCING FOR OFFICE CAMPUS SAN JOSE, CALIF. — CBRE Capital Markets' Debt & Structured Finance has secured $71.5 million in refinanc- ing for The Junction at Montague, a four-building office and R&D cam- pus in North San Jose. The borrower is a joint venture between Rockwood Capital and Four Corners Properties. Brad Zampa, Mike Water and Megan Woodring of CBRE's San Francisco office arranged the five-year, float- ing-rate bridge financing at a spread over the 30-day LIBOR. A national mortgage REIT focused on investing in larger, West Coast value-add debt opportunities provided the capital. Located at 2520, 2560 and 2580 Junc- tion Ave. and 541 E. Trimble Road, the 16-acre campus features a total of 262,110 square feet of space. Current tenants include Infineon Technolo- gies AG, a semiconductor design/ manufacturing firm, and Avnet, a distributor of electronic components and subsystems. IPA CAPITAL MARKETS SECURES $63.8 MILLION REFINANCING FOR MULTIFAMILY PROPERTY MARINA DEL REY, CALIF. — In- stitutional Property Advisors (IPA) Capital Markets has arranged $63.8 million for the refinancing of a mul- tifamily property located in Marina del Rey. Danny Abergel of IPA Capi- tal Markets secured the financing for the undisclosed borrower. The debt placement was structured with 10 years of interest-only payments fixed at 4.2 percent. The multifamily property features 268 apartments. CIT FUNDS $15.3 MILLION ACQUISITION LOAN FOR MEDICAL OFFICE BUILDING SAN DIEGO — CIT Group's Health- care Finance business, part of the Commercial Finance division, has funded a $15.3 million loan to fi- nance the purchase of Coast Medi- cal Center, a medical office building in San Diego. The borrower is a joint venture between Kayne Anderson and MB Real Estate. Situated 10 miles from downtown San Diego, the four-story building is occupied by a variety of healthcare tenants offering a range of medical services, including surgery, urology, orthope- dics and dentistry. The Junction at Montague in San Jose features 262,110 square feet of office and R&D space across four buildings. Providing Value To Our Clients By Minimizing Their Property Taxes Are your property taxes too high? We can help lower your taxes Reach Us Today! Over 40 Years Experience in Property Tax Consulting Contact Us Today 800-245-3190 | 206-504-2790 www.property-taxes.com/RETD Let Us File Your Commercial Real Estate Property Tax Appeal

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