Finance
Transactions: June 2019
A selection of noteworthy deals announced between 23 April – 13 May 2019.
San Francisco Office Asset Secures $100M in Financing
ASB Real Estate Investments has obtained the loan for 795 Folsom St., a six-story property in the city’s SOMA district that the company acquired in 2013.
Midcoast Properties Facilitates SC Portfolio Sale
The firm brokered the sale of two storage properties comprising a total of 1,310 units in Lexington and North Augusta. Citi Real Estate Funding provided the buyer with acquisition financing.
NJ Power Center Lands $47M Refi
JPMorgan Chase provided Sun Equity Partners the loan for Greenleaf at Howell, a 343,354-square-foot shopping center in Howell that the company acquired six years ago.
Downtown Orlando Hotel Scores $18M Refi
The 118-key hotel is an adaptive reuse project completed in 2013. Owner GDC Properties intends to use loan proceeds to retire existent debt and fuel reinvestments.
Proffitt Dixon Partners Buys Nashville Storage for $16M
HFF represented the seller, Provident Realty Advisors, in the deal, and arranged acquisition financing on behalf of the buyer.
Noble Secures $31M Construction Loan for Nashville Eco-Hotel
Regions Bank is financing the construction of the 169-key Element by Westin, near Cambridge Holdings’ OneC1TY mixed-use urban community. The development is set to include street-level retail space.
JV Lands $25M Loan for Charlotte Office Campus
HFF facilitated the six-year financing for a partnership between Childress Klein and Gottesman Real Estate Partners to acquire, renovate and re-lease Rexford Park I and II.
Metro Storage Lands $78M Refi for 8-Property Portfolio
The bridge loan is for Class A facilities situated in suburban areas of Illinois, New Jersey and Pennsylvania. Talonvest Capital negotiated the financing.
Founders Properties Buys Raleigh Office Portfolio for $23M
The three-building Class C office campus contains nearly 155,000 square feet. The buyer landed $14.5 million in financing for the deal.