Finance
Cleveland-Area Massive Project Lands $49M in Financing
Preston Hollow Capital completed financing of Pinecrest, a $240 million development currently underway in Cleveland’s suburb Orange Village. Developer Fairmount Properties plans to complete the project by mid-2018.
50 Broadway Lands $62M in Financing
Cushman & Wakefield arranged the financing on behalf of the UFT, who purchased the building in 2002 for $54 million and is currently leasing 90,000 square feet.
NYC’s Lipstick Building Lands $272M in Financing
HFF arranged the first mortgage from an affiliate of Credit Suisse on behalf of Ceruzzi Holdings LLC and SMI USA.
Spirides Arranges $8M Loan for Hilton Hotel
The Tampa-based financing company arranged the senior construction loan for a new 98-key Hilton in Florence, S.C., from a U.S. bank.
A10 Capital Secures $33M for San Diego Office Tower
The company is refinancing a short-term loan that funded Gemini Rosemont’s 2016 acquisition of the only office tower in San Diego’s Little Italy area.
Quantum Capital Secures $34M Financing for DTLA Outpatient Facility
The firm acted on behalf of Robhana Group, which purchased the site in 2012. Developer Inception Property Group broke ground on the 60,000-square-foot medical office building in February.
Raith Capital Lands $22M in Financing for 2 Assets
The company plans on using the equity to renovate Avera Commerce Center, an industrial campus in Texas and recapitalize The Centre at La Quinta, a shopping center in California.
Fort Myers-Area Shopping Center Lands $23M in Financing
The construction of Daniels Marketplace will commence this spring, with the opening projected as soon as summer 2018.
Webster Bank Closes on $7M Financing Deal
The portfolio financing for a craft beer cooperative includes a partnership with the U.S. Small Business Administration in conjunction with their 504 Program.
Blackstone Grants $100M Refi for Iconic Florida Office Asset
Douglas Entrance is owned by a joint venture between Miami-based Banyan Street Capital and Oaktree Management of Los Angeles.