Calmwater Issues $44M Refi for Lake Business Center

Calmwater Capital issued a $44 million refi bridge loan to Simborg Development for its Lake Business Center in Munster, IN. The loan will be used to refinance existing debt, recapitalize the partnership, and leave enough capital to lease up the 993,017-square-foot facility at 9100-9200 Calumet Ave. The property is nearly 83% occupied. Simborg has owned the

Continue Reading

Capital One Arranges $143M Loan for 51-Property Portfolio Play

A joint venture between Boston-based Taurus Investment Holdings and Venture One Real Estate secured $142.5 million in funding to acquire a portfolio of 51 Class B properties spread across Chicago submarkets in Illinois and Indiana. Capital One served as administrative agent, sole lead arranger, and sole bookrunner for the senior secured term loan. The facility consists of

Continue Reading

Milhaus Secures $320M for Four-State MF Portfolio

CBRE Capital Markets arranged the $320.5-million sale and recapitalization of Milhaus’s Urban Core Portfolio, a nine-property multifamily portfolio located in Indianapolis, Memphis, Oklahoma City and Cincinnati. Properties included: Indianapolis: – Artistry – 258 units – Mentor & Muse – 242 units – Mosaic – 54 units – Circa – 265 units – Mozzo – 65 units

Continue Reading

Pebblebrook Divests Capitol Hill Hotel in $111M Deal

Pebblebrook Hotel Trust sold the Liaison Washington Capitol Hill, a 343-room hotel in the Capitol Hill submarket of Washington, D.C. A partnership between Metrovest Equities Inc. and BLDG Management purchased the hotel unencumbered of existing brand and management for $111 million. The buyer plans to convert the property into the Yotelpad Capitol Hill, a purposefully-designed

Continue Reading

Columbus Pacific Secures $165M loan for Pendry Park City

Mosaic Real Estate Credit provided $165 million in construction financing to Columbus Pacific for development of Pendry Park City in Utah. Pre-construction work on the residential resort has begun. An official groundbreaking is scheduled for summer, and completion is anticipated for winter 2021. Situated in the Canyons Village on Sundial Court, the residential resort will

Continue Reading

Trammell Crow’s D.C. Retail Center Recapitalized

The Shops at Dakota Crossing, a 140,000-square-foot trophy retail center in Washington, D.C., received $61 million in recapitalization. The project was developed by a Trammell Crow Company-led team that included Fort Lincoln New Town Corporation and CSG Urban Partners. Walker & Dunlop’s Jamie Butler led the structured finance team that replaced the existing construction capital stack

Continue Reading