{"id":1004097411,"date":"2014-05-29T10:02:11","date_gmt":"2014-05-29T18:02:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004097411"},"modified":"2022-12-05T11:24:31","modified_gmt":"2022-12-05T19:24:31","slug":"june-briefsfinance-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/june-briefsfinance-2\/","title":{"rendered":"June – Briefs\/Finance"},"content":{"rendered":"

HSBC Provides $332M for Miami Condo<\/strong><\/p>\n

\"0614_CPE_Finance\"In what is being dubbed the largest loan for a residential project since the 2008 economic downturn, a consortium of banks led by HSBC Holdings PLC has provided Consultatio with $332 million for the construction of a 240-unit ultra-luxury condo project in Miami known as Oceana Bal Harbor. Slated for completion in 2016, the 28-story project will be valued in the $1.2 billion range, thanks to an average price of $1,875 per square foot. The building is located at 10201 Collins Ave. on 5.6 acres adjacent to 400 feet of beach. There is already more than $390 million worth of signed contracts to buy units, and a total of more than $460 million in commitments, including reservations.<\/p>\n

CIT Provides Kushner with $36M for Brooklyn Acquisition\/Renovation<\/strong><\/p>\n

Kushner Cos. is starting a new venture in Brooklyn, thanks to a $36 million senior secured loan from CIT Real Estate Finance. The funding allows Kushner to acquire and renovate a portfolio of single-family townhomes and multi-family rentals being sold by Brooklyn Law School. The facility includes an $8 million renovation reserve to rehab the properties, which comprise 56,000 square feet in Brooklyn Heights. This was the third deal between Kushner and CIT Real Estate Finance since 2012.<\/p>\n

HFF Sources $204M for Boston M-U Development<\/b><\/p>\n

HFF has arranged $204 million in construction financing for the development of Two Harbor Shore Drive, a 516,000-square-foot office building on Fan Pier in Boston\u2019s Seaport District. The borrower is a venture between The Fallon Co. and an institutional client advised by Cornerstone Real Estate Advisors L.L.C. RBS Citizens provided the loan. The 17-story glass tower is due for completion in the spring of 2016. Global law firm Goodwin Procter L.L.P. will fill approximately 380,000 square feet at the site.<\/p>\n

NorthMarq Negotiates $173M Refi for San Francisco TOD<\/strong><\/p>\n

NorthMarq Capital\u2019s San Francisco-based regional office has arranged a $173 million senior debt refinancing for Park Place Apartments and Mountain View City Center, two adjacent downtown properties located at 851 Church St. and 650 Castro St. in Mountain View, Calif. Park Place totals 373 units and saw refinancing in the amount of $118 million. Mountain View City Center is a five-story Class A office building with 116,205 square feet of space. It landed a $55 million refinance.<\/p>\n

Walker & Dunlop Arranges $75M for Virginia Development<\/strong><\/p>\n

Walker & Dunlop Inc. has arranged $75 million in construction-permanent financing for the development of Park Meridian at Eisenhower Station in Alexandria, Va. The design for the 25-story Class A apartment community meets LEED building standards and will have 505 multi-family units, 31 of which will meet affordable housing standards. Walker & Dunlop worked on behalf of Paradigm Development Co. to secure the 12-year, fixed-rate, interest-only loan with Quadrant Real Estate Advisors L.L.C.<\/p>\n

KTR Capital Partners Lands $115M for Industrial Portfolio Acquisition<\/strong><\/p>\n

Cushman & Wakefield\u2019s Atlanta-based equity, debt & structured finance group has arranged a $115 million loan for an affiliate of KTR Capital Partners to acquire a 15-property industrial portfolio in Los Angeles and suburban Chicago. The 2.1 million square feet of space includes 13 industrial properties and two flex assets. Wells Fargo provided the bridge loan to KTR Industrial Fund III L.P.<\/p>\n

Vornado Completes $350M Refi of Manhattan\u2019s 909 Third Ave.<\/strong><\/p>\n

Vornado Realty Trust has completed a $350 million refinancing of 909 Third Ave., a 33-story, 1.3 million-square-foot Midtown Manhattan office building. The Paramus, N.J.-based REIT said the seven-year loan is interest only at 3.9 percent. The company realized net proceeds of approximately $145 million after repaying the existing 5.6 percent, $193 million mortgage, defeasance and other closing costs.<\/p>\n

Meridian Arranges $200M in Financing for M-U Commercial Property in NYC<\/strong><\/p>\n

Meridian Capital Group L.L.C. has arranged $200 million in acquisition financing for the mixed-use commercial building at 530 Broadway in New York on behalf of a venture led by Jeff Sutton\u2019s Wharton Properties. The three-year financing was provided by a national balance-sheet lender and features a competitive LIBOR-based spread and two one-year extension options. It was negotiated by Meridian managing director Ronnie Levine and vice president Tal Savariego.<\/p>\n","protected":false},"excerpt":{"rendered":"

HSBC Provides $332M for Miami Condo; CIT Provides Kushner with $36M for Brooklyn Acquisition\/Renovation; HFF Sources $204M for Boston M-U Development; NorthMarq Negotiates $173M Refi for San Francisco TOD; Walker & Dunlop Arranges $75M for Virginia Development; KTR Capital Partners Lands $115M for Industrial Portfolio Acquisition; Vornado Completes $350M Refi of Manhattan\u2019s 909 Third Ave.<\/p>\n","protected":false},"author":1335,"featured_media":1004097412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743],"tags":[],"class_list":["post-1004097411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals"],"acf":[],"yoast_head":"\nJune - Briefs\/Finance - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/june-briefsfinance-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"June - Briefs\/Finance\" \/>\n<meta property=\"og:description\" content=\"HSBC Provides $332M for Miami Condo; CIT Provides Kushner with $36M for Brooklyn Acquisition\/Renovation; HFF Sources $204M for Boston M-U Development; NorthMarq Negotiates $173M Refi for San Francisco TOD; Walker & Dunlop Arranges $75M for Virginia Development; KTR Capital Partners Lands $115M for Industrial Portfolio Acquisition; Vornado Completes $350M Refi of Manhattan\u2019s 909 Third Ave.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/june-briefsfinance-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-05-29T18:02:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T19:24:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/05\/0614_CPE_Finance.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"547\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"michaelratliff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/june-briefsfinance-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/june-briefsfinance-2\\\/\"},\"author\":{\"name\":\"michaelratliff\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e3587e458e21524ccf71ab97d31c045c\"},\"headline\":\"June – Briefs\\\/Finance\",\"datePublished\":\"2014-05-29T18:02:11+00:00\",\"dateModified\":\"2022-12-05T19:24:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/june-briefsfinance-2\\\/\"},\"wordCount\":660,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/june-briefsfinance-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/05\\\/0614_CPE_Finance.jpg\",\"articleSection\":[\"Deals\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/june-briefsfinance-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/june-briefsfinance-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/june-briefsfinance-2\\\/\",\"name\":\"June - 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