$8,025,000 for Industrial Warehouse in Phoenix, AZ
JULY 19, 2018
PHOENIX, AZ – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has arranged financing in the amount of $8,025,000 secured by two industrial warehouse buildings totaling 153,900 SF located in Phoenix, AZ. Situated within the Papago Industrial District, adjacent to Interstate 10 and Interstate 17, the subject’s submarket is experiencing low industrial vacancy, making this asset a good candidate for a value-add business plan.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged this acquisition / rehab loan through a debt fund. At loan closing, the subject property was 66% occupied, due to a tenant’s departure a few months prior to close. The borrower’s business plan is to make capital improvements to the building, lease the vacant space, and increase the existing tenants to a market rental rate. The Newmark team structured a loan that allowed the borrower to acquire the property using an initial funding. The loan also included a future funding facility which the borrower could use to pay for capital expenditures, tenant improvements and leasing commission costs.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$10,380,000 for Kennewick Apts in Kennewick, WA
JULY 18, 2018
SAN FRANCISCO, CA – Newmark® has arranged $10,380,000 in permanent financing for Lakeside and Crown Village Apartments, two complexes in Kennewick, WA totaling 121 and 89 units, respectively.
Robert Slatt and Demetri Koston, Principals, along with Charlie Kokernak and Abby Kemp, Associates, worked with the borrower in securing the 7-year fixed-rate loans with a reinsurance company lender. The loans were arranged on a non-recourse basis as two first deeds of trust and are cross collateralized. Both loans feature interest-only payments during the first two years, followed by a 30-year amortization, which will provide increased property cash flow to the borrower and allow for property renovations as needed.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$7,700,000 for Industrial Portfolio in Anaheim, CA
JULY 11, 2018
LOS ANGELES, CA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has arranged $7,700,000 in fixed-rate financing for a portfolio of industrial buildings located in Orange County, CA. The portfolio comprises ~149,514 rentable square feet representing historical strong tenancy and sponsorship.
George Mitsanas, Principal, and Chandler Hogue, Associate, of Newmark’s Los Angeles office, arranged the financing on behalf of the borrower. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders.
According to George Mitsanas, “Industrial is presently the product of choice for a number of our capital sources. Whether we are financing smaller industrial buildings in Orange County or the two industrial boxes totaling 2.5M square feet in Dallas we completed last year, Newmark has competitive lenders, where in most cases we will service the loan. As a San Francisco-based, privately held mortgage banking company, our clients appreciate that we are dedicated commercial real estate finance professionals with decades of experience in securing and servicing loans throughout the nation.”
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$16,000,000 for One Polaris in Aliso Viejo, CA
JULY 11, 2018
LOS ANGELES, CA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has arranged $16,000,000 in fixed-rate financing for One Polaris, a three-story Class-A office building located in Aliso Viejo, CA. The property comprises of ~75,341 rentable square feet and is part of a four building office park.
George Mitsanas, Principal, Peter Hillakas, Vice Principal, and Chandler Hogue, Associate, of Newmark’s Los Angeles office, arranged the fixed-rate financing on behalf of the borrower. The 30-year loan was placed with one of Newmark’s correspondent life insurance company lenders. Newmark will also service the loan.
According to George Mitsanas, “Working on an exclusive basis, we showed our loan request to a wide variety of fixed-rate lenders including insurance companies, banks and CMBS. We required flexibility to allow for future development on the subject property. In the end the best source of capital was one of our life insurance company lenders. Over the years we have closed in excess of several billion dollars financing transactions in Orange County.”
Newmark, a privately held company based in San Francisco, is a full-service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $11 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$15,000,000 for Medical Office in Perris, CA
JULY 11, 2018
LOS ANGELES, CA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has secured a $15 million construction-to-takeout loan for a 36,000 SF medical office building in Perris, CA.
Mark Ritchie, Principal, along with Jasmine Polson, Associate, of Newmark’s Los Angeles office, worked exclusively with the Rancho Cordova-based sponsor, Capital Partners Development Company, LLC, a real estate company specializing in build-to-suit projects for government entities and select private-sector clients, in arranging a 100% loan-to-value credit tenant lease (CTL) financing through a correspondent life company. Upon completion, the building will be 100% leased to the County of Riverside for use by its Riverside University Health Systems’ Behavioral Health group as a community clinic providing mental health services for clients in all ages and stages of life.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$33,000,000 for Tower Building in Seattle, WA
JULY 9, 2018
SEATTLE, WA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has arranged $33,000,000 in permanent financing for the Tower Building located in Seattle, Washington. Situated directly across from Nordstrom’s flagship store and 2 blocks away from the new Amazon HQ, the 17-story office building is in the connection point between Seattle’s retail core and the South Lake Union neighborhood.
Originally constructed in 1930, the Tower Building was renovated in 1988 with special care given to preserving the unique period details of the building. The property features over 156,000 square feet of rentable area, ground floor retail, and 2 floors of underground parking.
Working on an exclusive basis, Michael Taylor, Principal, and Patrick Taylor, Associate, of Newmark’s Seattle office arranged the financing for the property owner through John Hancock Life Insurance Company, one of Newmark’s correspondent lenders.
According to Michael Taylor, “The owners needed to refinance to retire an existing loan that was maturing, and due to the health of the Seattle region’s office market and the assets strong fundamentals, there was strong interest from a variety of lenders. Our correspondent lenders have a healthy appetite for allocations to Seattle commercial assets and continue to offer strategic options for various finance structures at historically low rates. Our team works with our owner/investor clients to identify the best structure for their goals. At the end of the day, John Hancock Life Insurance Company was able to provide a competitive loan with terms that best matched the priorities of the borrower.”
Newmark, a privately held company based in San Francisco, is a full-service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$62,000,000 for 624 Yale Apts in Seattle, WA
JULY 2, 2018
SEATTLE, WA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has arranged $62,000,000 in fixed-rate financing for the newly constructed 624 Yale Apartment Building in Seattle, WA. Located in South Lake Union, directly off Interstate 5 and adjacent to numerous lifestyle amenities and employment centers, the 2-building high-rise community comprises of 204 new studio, 1, and 2-bedroom units over parking with one retail suite on the ground floor.
Brian Bonipart, Vice President, and Abby Kemp, Associate, of Newmark’s Seattle office, arranged the financing on behalf of the borrower. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders and was funded at receipt of Certificate of Occupancy.
According to Brian Bonipart, “The borrower was looking to buy out his institutional equity partner. He was concerned about rising interest rates impacting his business plan. He asked us to survey the market for a lender that could close on a permanent loan at Certificate of Occupancy. A majority of the lenders needed the property leased in excess of 50%. We were able to find a life insurance company that was familiar with the market and was able to close at C of O. He was very pleased with the entire process from application through closing.”
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$25,590,000 for Multi-Tenant R&D in San Jose, CA
JUNE 26, 2018
SAN FRANCISCO, CA – Newmark® has arranged $25,590,000 in permanent financing for 5500-5550 Hellyer Ave, a two-story research and development building located in San Jose, California. Demised into three tenant spaces, the 100% occupied property is comprised of both industrial flex and office space.
Robert Slatt and Jeff Wilcox, Principals, and Charlie Kokernak, Associate, worked exclusively with the borrower in securing the 10-year fixed-rate, 30-year amortization with a conduit lender. The long-term financing solution was arranged as a first deed of trust on a non-recourse basis as part of a purchase transaction. This marks the second purchase financing arranged with the same borrower in the last two years.
According to Robert Slatt, “We were hired to make a competitive bidding market for our client and ultimately had two different CMBS shops separate themselves from the pack. The deal closed as applied for, which is a testament to the relationship that Newmark has with their capital sources.”
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$2,910,000 for Carleton Terrace in Prescott, AZ
JUNE 21, 2018
PHOENIX, AZ – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has arranged financing in the amount of $2,910,000 secured by a 32-unit multifamily property located in Prescott, AZ. Originally constructed in 1972, the buyer intends to rehab the subject with interior and exterior improvements. The property is located in downtown Prescott within walking distance to the historic Whiskey Row and Courthouse Plaza.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged this acquisition loan through a regional bank. The borrower’s loan request included maximum leverage with a flexible prepayment structure. Newmark was able to convince the lender to lock the interest rate below 4.0% in early February 2018, even though the closing didn’t occur until late May 2018.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$54,000,000 for Artisan Apartments in Huntington Beach, CA
JUNE 19, 2018
LOS ANGELES, CA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has arranged $54,000,000 in fixed-rate financing for Artisan Apartments in Huntington Beach, CA. Located directly off I-405 and adjacent to numerous lifestyle and employment centers, the 13-building, garden-style community comprises of 277 recently renovated 1 and 2 bedroom units.
George Mitsanas, Principal, and Chandler Hogue, Associate, of Newmark’s Los Angeles office, arranged the financing on behalf of the borrower. The 15-year loan was placed with one of Newmark’s correspondent life insurance company lenders. Newmark will also be the loan servicer.
According to George Mitsanas, “Multi-family in Orange County and throughout the nation is a product type Newmark has tremendous experience in. As a San Francisco-based, privately held mortgage banking company, our clients appreciate that we are dedicated commercial real estate finance professionals with decades of experience in securing and servicing loans throughout the nation. Our capital sources include insurance companies, banks, CMBS, debt funds and GSEs. Regardless if the assignment is for a low LTV long-term loan, a construction loan or highly leveraged capital stack, we have the sources of capital and track record to meet our clients’ needs.”
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$6,450,000 for Old City Hall in Spokane, WA
JUNE 5, 2018
SPOKANE, WA – Newmark® has arranged financing in the amount of $6,450,000 secured by the historic Old City Hall in downtown Spokane, WA. Demetri Koston, a Principal with Newmark’s Spokane office, worked on behalf of the borrower to arrange the fixed-rate loan. Much of the financing was applied to the acquisition, and the remaining balance is available to help fund tenant improvements, leasing commissions, and common areas.
Built in 1913, the building was used as the City Hall in Spokane until the early 80s. The building is uniquely located in the heart of the Central Business District, with convenient access to various downtown amenities, including Riverfront Park. The building is nearly 100,000 square feet of total rentable area, including the ground floor retail space. The building is in a prime location and should benefit from the recent trend of companies moving to downtown.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$28,000,000 for NorthPointe Shopping Center in Modesto, CA
MAY 31, 2018
SAN FRANCISCO, CA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has secured $28,000,000 in long-term, fixed-rate, non-recourse financing for NorthPointe Shopping Center, located in Modesto, California. Anchored by Save Mart Supermarket and shadow-anchored by Costco and Lowe’s, the community shopping center totals 180,300 sf. Located adjacent to CA Highway 99, the subject is a highly successful shopping center, with a tenant line-up including Cost Plus World Market, Starbucks, Jamba Juice, Verizon Wireless, and H&R Block.
Mitchell Zeemont, Principal of Newmark’s San Francisco office, arranged the 15-year fixed-rate term, 30-year amortization with one Newmark’s correspondent life insurance company lenders, Genworth Life Insurance Company.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$43,400,000 for Lakewood City Commons in Lakewood, CO
MAY 30, 2018
LOS ANGELES, CA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has secured $43.4 million in financing for a premier 285,000 sf shopping center in Lakewood, Colorado. Anchored by King Soopers, a supermarket brand of Kroger, and sub-anchored by Ross, Petco, Old Navy, and Michaels, the 95% occupied property is located within the heart of Lakewood’s “Main & Main,” which is one of the strongest retail corridors in the Denver metro area.
Mark Ritchie, Principal, along with Jasmine Polson, Associate, of Newmark’s Los Angeles office, worked closely with the borrower in arranging the 15-year term, 30-year amortization through a correspondent life insurance company, which will be serviced by Newmark. The long term financing will be used to pay off an existing CMBS loan, cover transaction costs, and recoup a portion of the borrower’s equity. Pricing and other terms were not disclosed.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$22,000,000 for Hunter’s Cove in Waxahachie, TX
MAY 22, 2018
NEWPORT BEACH, CA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has secured $22 million in bridge financing for Hunter’s Cove Apartments in Waxahachie, Texas. Located right off the I-35E, less than 30 miles south of Dallas, the subject property features eight 3-story, class-A apartment buildings comprising of 192-units ranging from 1 to 3 bedrooms.
Andy Bratt, Principal, along with Spencer Seibring, Associate, of Newmark’s Newport Beach office, worked closely with the sponsor in arranging the 2-year term with Greystone at 80% loan to purchase price. In addition, Newmark’s and Greystone’s HUD group are simultaneously processing the HUD 233(f) permanent financing, which is anticipated to close within the next six months.
“We were engaged by our repeat sponsor to arrange bridge to HUD financing on this acquisition. The sponsors entered into a 1031 Exchange with the loan request for max proceeds and term. Greystone was able to offer the best overall structure on both the 2-year floating rate bridge loan as well as the 35-year fixed HUD loan, which is set to close later this year.”
Andy Bratt, Principal
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$11,765,000 for Creekside Apartments in Bozeman, MT
APRIL 24, 2018
SPOKANE, WA – Demetri Koston, Principal with Newmark® in Spokane, WA, arranged permanent financing in the amount of $11.765 MM for Creekside Apartments in Bozeman, MT. The new class-A apartment property includes 72 residential units located in a high-growth area of the market. The transaction was structured with a highly competitive fixed-rate term of 12 years. The initial five years of the loan were structured as “interest-only”, followed by an amortization based on a 30-year schedule. The loan is non-recourse and requires no personal guarantees for repayment. Newmark arranged the financing with one of its correspondent lenders based in the Pacific Northwest.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,300 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$29,500,000 for Two Office Buildings in Bellevue, WA
APRIL 18, 2018
SEATTLE, WA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has secured $29.5 million in financing for two office properties located in Bellevue, Washington.
Brian Bonipart, Vice President, along with Michael Taylor, Principal, and Skip Slavin, Vice President of Newmark’s Seattle office, worked exclusively with Spire Real Estate, L.P., a subsidiary of Vancouver-based Nicola Crosby Wealth Management, in arranging the long-term financing through two correspondent lenders.
Mercer Pointe – Bellevue, WA ($15 MM)
Newmark arranged $15 MM in financing for the purchase of Mercer Pointe, a single-tenant office building located in the Bellefield Office Park, five minutes from the Bellevue Central Business District. The 71,329 sf, class-A building is 100% net-leased to OfferUp.com, a rapidly growing Seattle-based online marketplace. Spire Real Estate worked closely with Newmark in arranging the 25-year, fully amortizing, full-recourse loan, which Newmark will service.
Swift Gateway – Bellevue, WA ($14.5 MM)
Located southeast of downtown Bellevue, Newmark secured $14.5 MM in financing for the off-market purchase of Swift Gateway, a 68,766 sf multi-tenant office building. The three-story, class-A building was recently renovated in 2016. The Newmark team was able to negotiate a highly competitive rate with a 5-year term, 30-year amortization, non-recourse loan with one of its correspondent lenders.
About Spire Real Estate
Spire Real Estate LP owns an investment portfolio comprised of office, retail and industrial properties located in Seattle, San Francisco, Denver, Phoenix, Houston and Chicago. The portfolio also includes interests in approximately 14,000 multi-family units located in the South and Southeast US.
About Newmark
Newmark, a privately held company based in San Francisco, is a full-service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$25,500,000 for East Olive Apartments in Seattle, WA
MARCH 26, 2018
SEATTLE, WA – Newmark, the largest independent commercial mortgage banking firm in the U.S., has secured $25,500,000 in financing for 1111 East Olive Apartments located in Seattle, Washington. Working on an exclusive basis for the borrowers, Michael Taylor, Principal, and Patrick Taylor, Associate of Newmark’s Seattle office, arranged the 15-year term financing through Aegon Real Assets US.
Meriwether Partners developed the project for the long-time land owners, consisting of 80 apartment units over ground floor retail. The apartments are situated on floors 2 through 6, which includes a rooftop deck, conference room, gym, secured bicycle storage, and parking for 69 vehicles. The ground floor retail will include a corner coffee shop, and the new home of the Richard Hugo House, a non-profit center for supporting writers.
“The developer was looking to take advantage of the interest rate environment and lock up the permanent financing to take out their construction loan.” said Mike Taylor of Newmark. “Aegon Real Assets US was able to accommodate that request at very attractive loan terms and fund the loan as soon as the property received its Certificate of Occupancy before any significant leasing had occurred.”
About Aegon USA Realty Advisors, LLC (Aegon Real Assets US)
Aegon Real Assets US is a fully integrated real estate asset manager that has provided real estate investment services to institutional clients for more than three decades. Aegon Real Assets US provides real estate asset management and advisory services – including tax credit investments, commercial mortgage loans, affordable housing debt, and various other private equity and debt products – to affiliate and unaffiliated institutional clients. The firm has established a distinguished reputation in the real estate industry for its diverse real estate expertise and strong investment performance. Aegon Real Assets US is a part of Aegon Asset Management, which is an international asset management organization based in The Hague, with offices across North America, Europe and Asia. For more information, visit aegonrealty.com.
About Newmark
Newmark a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$3,000,000 for Extra Space Storage in Phoenix, AZ
MARCH 19, 2018
PHOENIX, AZ – Located within the central corridor of Phoenix, Newmark secured $3.0 MM in financing for Extra Space Self-Storage, a two-story indoor facility with 362 air conditioned units. Situated along West Indian School Road, the property was originally a multi-tenant office but was converted to a self-storage facility in 1995. The immediate area adjacent to the subject property includes a mixture of office, retail, older single family residential subdivisions, and multifamily apartment projects. Mr. Von Berg and his team were able to negotiate a 65% loan-to-value, 15-year fixed-rate term, non-recourse loan. At close, the property was 83% leased.
Newmark, a privately held company based in San Francisco, is a full-service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$10,500,000 for Cochrane Self Storage in Morgan Hill, CA
MARCH 19, 2018
MORGAN HILL, CA – Newmark arranged $10.5 MM in financing for Cochrane Road Self-Storage, a 1,098-unit facility, in Morgan Hill, CA. Located just south of San Jose, adjacent to Highway 101, the facility had all the great qualities that Newmark’s correspondent lenders were looking for: fully developed property in a great location, professionally managed by a highly reputable and experienced sponsor, and at least 90% occupancy. Newmark worked closely with the borrower to arrange the 10-year fixed-rate term, 30-year amortization, non-recourse loan.
“As usual, a great team. This was a first-time deal between Toeniskoetter Development and Newmark’s correspondent lender and it could not have gone smoother. It was a very tight time frame, but Eric, Tom and Cristian performed to meet the challenge.”
-Brad Krouskup, President & CEO of Toeniskoetter Development
Newmark, a privately held company based in San Francisco, is a full-service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$15,000,000 for Paddison Square in Norwalk, CA
JANUARY 24, 2018
NORWALK, CA – Newmark® has arranged permanent financing in the amount of $15,000,000 for Paddison Square, a 118,000 square foot community shopping center in Norwalk, CA. Located along the Imperial Highway, just 17 miles southeast of downtown Los Angeles, the asset benefits from its high traffic location, which is within a densely populated in-fill area with very limited direct retail competition. At close, this diverse retail center was 98% occupied, which includes numerous national and regional tenants like 99 Cent Only, O’Reilly Auto Parts, and Applebee’s.
Braden Turnbull, Jeff Wilcox, and Robert Slatt, Principals of Newmark, along with Jasmine Polson and Erinn Cooke, Associates, worked exclusively with the borrower to arrange the 12-year, non-recourse financing with a correspondent lender, which will be serviced with Newmark. Pricing and other terms were not disclosed.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of over $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$3,750,000 for Three South Bay Assets in South San Francisco, CA
JANUARY 24, 2018
SAN FRANCISCO, CA – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has secured $3.75 million in financing for three separate commercial properties located in the South Bay Area. Eric Von Berg, Principal, along with Tom Dao and Cristian Streeter, Associates, worked on behalf of the two borrowers in arranging the financing through a correspondent life company and a national bank.
Two Industrial Flex Properties, San Jose, CA ($2.25 MM) – Newmark arranged $2.25 MM in refinancing for two industrial flex properties located in San Jose, CA. Located in the heart of Silicon Valley, both properties are 100% leased and total 26,000 sf. Newmark was able to lock rate at application and arrange two separate 25-year, fully amortizing loans with one of its correspondent insurance company relationships.
“Eric and his team were instrumental in helping us navigate favorable market conditions to refinance our properties with a terrific lender at very attractive terms. Overall we were happy with the entire loan process.”
-Harry How, Fornine Investment, LLC.
555 Price Avenue, Redwood City, CA ($1.5 MM) – Located adjacent to Highway 101 in Redwood City, CA, Newmark arranged $1.5 MM to refinance a remodeled 8,200 sf Class-B office building. Currently, the multitenant office building is 100% occupied, with the owner occupying 38% of the property. Newmark arranged a flexible prepayment, fixed-rate, 10-year term, 25-year amortization non-recourse loan with a national bank.
Newmark, a privately held company based in San Francisco, is a full-service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$22,500,000 for Class A Distribution in Fort Worth, TX
JANUARY 17, 2018
FORT WORTH, TX – Newmark® has arranged permanent financing in the amount of $22,500,000 for a brand new, institutional quality, single-tenant distribution building located in Fort Worth, TX.
The subject loan is secured by a 712,000 sf distribution facility that is 100% leased to a credit tenant. The subject sits on just over 43 acres and is located approximately four miles from the Meacham International Airport.
George Mitsanas and Tim Storey, Principals of Newmark, worked exclusively with the borrower to arrange the 10-year, non-recourse financing with a correspondent life insurance company. The loan will be serviced by Newmark. Pricing and other terms were not disclosed.
“This was a great project to work on, given the strength and experience of the borrower in addition to the outstanding quality of the asset. Our lender provided very competitive terms and made the closing a very positive experience for all involved.”
-Tim Storey, Principal of Newmark
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$39,350,000 for Four Arizona Assets in Phoenix, AZ
JANUARY 4, 2018
PHOENIX, AZ – Newmark®, the largest independent commercial mortgage banking firm in the U.S., has secured $39.35 million in financing for four separate commercial properties located throughout Phoenix, Mesa, and Gilbert, Arizona. Tim Storey, Principal, and Chad Metzger, Associate Vice President, worked on behalf of the four borrowers in arranging the financing through various capital sources.
Recent Transactions Include:
-Heritage Marketplace ($15.75 MM) – Newmark has arranged permanent financing in the amount of $15.75 MM for a mixed-use retail/office development located in downtown Gilbert, AZ within the Heritage District. The subject property won the 2016 RED Award for “Best Mixed-Use Project” in the greater Phoenix area. Newmark arranged the 10-year, non-recourse financing with one of its CMBS relationships.
-Jacinto Place Apartments ($11.40 MM) – With an apartment community being built on approximately 5.37 acres, Newmark arranged construction-to-permanent financing for Jacinto Place Apartments in the amount of $11.40 MM. The property will consist of 104 Class-A rental units and is scheduled to be completed in late 2018. Newmark arranged the construction-to-permanent financing with one of its life company lenders, making it the second construction-to-permanent loan arranged for this borrower and lender.
-Clocktower Corporate Center ($7.5 MM) – $7.5 MM in permanent financing was arranged for the acquisition of a 110,000 sf Class-B office building located near South Mountain and Interstate 10 in Phoenix. Originally built in 1987, the property recently completed extensive renovations and is currently 98% occupied. Newmark arranged the 20-year, non-recourse financing with one of its life company correspondent lenders.
-Gateway Executive Center ($4.7 MM) – Located within the 44th street Corridor in Phoenix, Newmark arranged $4.7 MM in permanent financing for the acquisition of Gateway Executive Center, a 40,000 sf Class-B office building. The property features excellent frontage along 44th street and immediate freeway access to the Loop 202 and State Route 143. The building was built in 2006 and is currently 100% occupied by six tenants. Newmark arranged the 7-year, non-recourse financing with one of its life company correspondent lenders.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$51,800,000 for Six Building Portfolio in Los Angeles, CA
LOS ANGELES, CA – Newmark™, the largest independent commercial mortgage banking firm in the western U.S., has secured $51.8 million in new financing for six Los Angeles multifamily properties. The portfolio is located in the University Park, Hollywood, Westlake and Korea Town submarkets.
“This portfolio was a diverse mix of property types and location requiring significant underwriting to assess its collective value,” said George Mitsanas, principal with Newmark. “We were able to generate significant interest from the institutional lending community due to excellent sponsorship, each assets’ strategic location and the strong fundamentals of the Los Angeles apartment housing market.”
George Mitsanas, principal, Peter Hillakas, vice president, and Chandler Hogue, associate, with Newmark’s Los Angeles production office worked with the borrower to arrange the 10-year, non-recourse financing through one of Newmark’s correspondent life company lenders. Other terms were not disclosed. Newmark will also service the loan.
“We originate and service multifamily loans for a wide variety of institutional national lenders, including insurance companies, banks, agencies, and pension funds. Throughout the years we have arranged construction and permanent loans nationwide. A number of our financing vehicles are higher leveraged participating loans or joint ventures. In certain situations, the agencies offer the best terms but in most deals, we are able to provide a competitive structure and pricing that will win the deal. Nevertheless, Newmark has tremendous experience in financing multifamily projects of all sizes, product type and leverage points,” said George Mitsanas.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of nearly $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$13,265,000 for La Ronde Centre in Sun City, AZ
DECEMBER 18, 2017
SUN CITY, AZ – Newmark® has arranged permanent financing in the amount of $13,265,000 secured by the La Ronde Centre in Sun City, AZ.
Adam Parker, Principal, from Newmark’s Phoenix office, arranged the financing on behalf of the borrower. The loan includes a $920,000 TI/LC facility which will be used to pay for obligations related to three new leases. The non-recourse loan, arranged through a regional bank, also includes flexibility to sell off a piece of collateral without triggering a prepayment penalty.
The La Ronde Centre includes approximately 110,000 SF of medical office and retail space. Earlier this year, the property was awarded 2016 NAIOP Medical Redevelopment of the Year. At present, the property has one surgery center in operation while another surgery center has signed a lease and will start their tenant improvements in the near future. La Ronde Centre is located just over a mile from Boswell Medical Hospital Campus.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$26,000,000 for Retail Development in Manhattan Beach, CA
New Project 100 Percent Pre-Leased to Gelson’s Markets and First Republic Bank; Development of 34,000 Square Foot Infill Property Fronting Sepulveda Boulevard to Commence Immediately
LOS ANGELES, CA – Newmark™, the largest independent commercial mortgage banking firm in the western U.S., has secured $26 Million of development financing for a new infill retail center in Manhattan Beach.
The leading owner and developer of value-add and infill retail centers in high barrier to entry California markets, has pre-leased the strategically located 34,000 square-foot development to Gelson’s Markets and First Republic Bank. Designed by the Los Angeles office of DLR Group, the project site is located on approximately 2.2 acres of high profile street frontage on one of the area’s major arterials at 707 N. Sepulveda Blvd. in Manhattan Beach, CA. Construction is set to begin immediately, with completion anticipated by November 2018.
In the transaction, a Newmark team from its Los Angeles production office featuring principals George Mitsanas and Braden Turnbull arranged the $26 million, 8-year loan with a correspondent life insurance company. Newmark will also service the loan.
“The borrower is an experienced retail owner and developer with an extensive track record of success,” said Mitsanas. “Their ability to secure agreements with two high quality tenants in Gelson’s and First Republic made this project extremely attractive to the top tier of institutional capital sources. This type of strategic assemblage, where a premier location meets top-performing tenants, is critical to successfully funding retail projects in the contemporary market cycle. While challenges face the retail industry at large in an era of evolving consumer preferences, projects with these characteristics continue to find abundant capital resources at what remain as historically low interest rates. Newmark has extensive experience in arranging construction loans throughout the nation. Developers are attracted to our ability to provide capital sources where our financing vehicles typically include both construction and permanent loans taking all interest rate risk off the table. In addition, because we service most loans we arrange, our clients know who to call if issues ever arise during the life of a loan we arrange.”
$23,500,000 for Park Pacific in Santa Cruz, CA
SANTA CRUZ, CA – Newmark® has arranged $23,500,000 in financing for a ground-up, mixed-use development in Santa Cruz, CA.
Jeff Wilcox and Robert Slatt, Principals, along with Charlie Kokernak, Associate – of Newmark’s San Francisco office, worked on an exclusive basis in arranging the construction financing. The financing was structured as a first deed of trust with Wells Fargo Bank. Park Pacific is anticipated to be completed in mid-2019 and will consist of 79 multifamily units over ground floor retail.
“Jeff, Rob, and Charlie have been instrumental in arranging financing for Park Pacific from day one. They did a great job not only in securing a bridge lender when the site was acquired, but have since been integral to locating and closing our construction loan after receiving city approval.”
-Senior Development Manager, Swenson Builders
Located in Downtown Santa Cruz, the market rate property will provide ample parking to residents and high visibility to the retail tenants. Park Pacific will offer a blend of studio, one, and two-bedroom units and is anticipated to be quickly absorbed given the demand for housing in the county.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$4,630,000 for 454 West Apartments in Mesa, AZ
NOVEMBER 21, 2017
MESA, AZ – Newmark® has arranged financing in the amount of $4,630,000 secured by an 80-unit multifamily property located in Mesa, AZ. Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged this acquisition loan through a small balance agency lender. The borrower’s loan request included maximum leverage with a flexible prepayment penalty. The 7-year fixed-rate, non-recourse loan included two years of interest-only payments followed by a 30-year amortization.
Originally constructed in 1972, the buyer intends to fully renovate the subject with extensive interior and exterior improvements. The property is located adjacent to the Banner Health Corporate Center and is approximately 2 miles east of the Mesa Riverview shopping mall and Sloan Park, the Chicago Cubs spring training facility.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$5,675,000 for Arizona Heart Building in Phoenix, AZ
NOVEMBER 9, 2017
PHOENIX, AZ – Newmark® has arranged financing in the amount of $5,675,000 secured by a 30,797 SF medical office building in Phoenix, AZ.
Adam Parker, Principal of Newmark’s Phoenix office, arranged the short-term financing on behalf of the borrower. With four new tenants occupying the building, the borrower’s total cost included the purchase price and the reimbursement of tenant improvements and leasing commissions. The financing was arranged to maximize leverage, which included a flexible prepayment structure. Other terms were not disclosed.
Built in 2006, the subject property is located in the central area of the city, just minutes away from Sky Harbor Airport and downtown Phoenix. Located adjacent to the Arizona Heart Hospital and across the street from the Phoenix Children’s Hospital (ranked as one of U.S. best Children’s Hospital), both hospitals are experiencing significant growth and expansion.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$14,250,000 for Interlake Medical in Couer d'Alene, ID
NOVEMBER 1, 2017
COEUR D’ALENE, ID – Newmark® has arranged permanent financing in the amount of $14,250,000 secured by the Interlake medical office building located in Coeur d’Alene, ID.
Demetri Koston, Principal, and Skip Slavin, Vice President, both from Newmark’s Washington’s offices, arranged the financing on behalf of the borrower. The loan includes a highly competitive long term interest rate, a very flexible prepayment program, and requires no ongoing reserves, all of which were very important to the borrower. In addition, closing costs were very reasonable. Other specific terms of the loan remain confidential.
Interlake is a stabilized, multi-tenant medical office property that anchors the medical community in Coeur d’Alene. The property includes 86,000 sq ft of net rentable area, and is located across the street from the main hospital on a main arterial thru the submarket.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$5,000,000 for Office Park in Henderson, NV
OCTOBER 10, 2017
LAS VEGAS, NV – Newmark® has arranged financing in the amount of $5,000,000 for a office park in Henderson, NV. Chris Funai, Vice President in Newmark’s Las Vegas office, worked with the borrower on an exclusive basis to arrange the 10-year, 25-year amortization, refinancing with a correspondent life insurance company. Pricing and other terms were not disclosed.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$5,000,000 for Verizon Retail Pad in Las Vegas, NV
OCTOBER 10, 2017
LAS VEGAS, NV – Newmark® has arranged financing in the amount of $5,000,000 for a Verizon retail pad in Las Vegas, NV. Chris Funai, Vice President in Newmark’s Las Vegas office, worked with the borrower on an exclusive basis to arrange the 10-year, fully amortizing, cash-out refinancing with a correspondent life insurance company. Pricing and other terms were not disclosed.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$5,800,000 for Bel-Red Medical in Bellevue, WA
OCTOBER 5, 2017
BELLEVUE, WA – Newmark® has arranged permanent financing in the amount of $5,800,000 secured by the Bel-Red medical and dental office building located in Bellevue, WA. Demetri Koston, Principal, and Skip Slavin, Vice President, both from Newmark’s Washington’s offices, arranged the financing on behalf of the borrower. Newmark was able to refinance the existing CMBS debt, which was put in place 10 years ago through a correspondent life insurance company. Specific terms of the loan remain confidential.
Built in 2006, the two-story, multi-tenant property consists of approximately 26,000 square feet of Class-A medical office space. The property is currently 100% leased with a complimentary mix of tenants. Situated along the Bel-Red corridor, the property is well-located on a major arterial with exceptional visibility and access from the SR-520 and I-405.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$12,000,000 for Empire Mini Storage in Novato, CA
SEPTEMBER 28, 2017
NOVATO, CA – Newmark® has arranged permanent financing in the amount of $12,000,000 for a 70,089 square foot self storage facility located in Novato, CA. Built in 2007, the subject property consists of one and two-story buildings containing 902 units, ranging in size from 25 to 350 square feet. 2,000 square feet of the total rentable area is set aside for temperature-controlled wine storage.
Darren Pacheco, Vice President in Newmark’s San Francisco office, worked with the borrower on an exclusive basis to arrange the 10-year term, 30-year amortization, cash-out refinancing with a correspondent life insurance company.
“This was a unique transaction with a lot of moving parts. The borrower was seeking working capital, so we decided to defease the existing CMBS loan five years early to capture the historically low interest rates. One of our exclusive life company lenders provided market leading terms which included a declining pre-payment structure. The borrower was very pleased with receiving an extremely low rate with the utmost flexibility in the future.”
-Darren Pacheco, Vice President of Newmark
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$15,000,000 for Two Apartments in Phoenix, AZ
SEPTEMBER 5, 2017
PHOENIX, AZ – Newmark®, the largest independent commercial mortgage banking firm in the western U.S., has secured nearly $15 million in new acquisition financing for two separate multifamily properties in Phoenix, Arizona. Adam Parker, Principal, and Chad Metzger, Associate Vice President, worked with the borrowers in arranging one of the acquisition loans through a debt fund and the other through a regional bank. Pricing and other terms were not disclosed.
Transaction Details:
- Urban Walk Apartments – $8.37 million in acquisition financing secured by a 151-unit, multifamily property located just south of the Biltmore in Phoenix. Originally constructed in 1973, the property has been partially renovated within the past 12 months. The borrower recognized an opportunity to create additional value through upgrading the unit interiors while raising rental rates. At closing, the property was 95% occupied. With the borrower’s desire for a non-recourse execution and a TIC borrowing entity structure, the acquisition financing was arranged through a regional bank.
- Valencia Townhomes – $6.60 million in acquisition financing secured by a Class-A, luxury 36-unit, multifamily property located in the desirable North Central Phoenix neighborhood. Originally constructed in 2008 as townhomes, the average unit size is 1,333 SF, which is noticeably larger in comparison to other nearby rental properties. The borrower recognized the opportunity for value creation without a significant reposition. And the borrower’s desire for a maximum leverage loan with prepayment flexibility, the floating rate acquisition was arranged through a debt fund.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$30,000,000 for Mesa Grand Center in Mesa, AZ
AUGUST 30, 2017
MESA, AZ – Newmark® has arranged permanent financing in the amount of $30,000,000 for a 236,000 square foot “Class A” asset located just off a full-diamond interchange in one of the fastest growing cities in the United States, Mesa, Arizona. The subject offers a diverse shopping experience including numerous national tenants, 92% of the subject’s tenancy, and signature casual dining options. National tenants include Petsmart, Office Max, Michaels, Starbucks, and Party City. In addition, the subject has a long history of being a landmark retail center in the east valley of metropolitan Phoenix.
Tim Storey, Principal in Newmark Realty Capital’s Phoenix office, worked with the borrower to arrange the 10-year, non-recourse, acquisition financing with one of Newmark’s correspondent relationships. In addition, Newmark assisted in arranging the mezzanine loan as part the purchase. Pricing and other terms were not disclosed.
“Newmark is very appreciative for the opportunity to work with the team at DSW again. This transaction had several moving pieces that resulted in a little more structure than normal. In order to close the loan the borrower required both senior debt and mezzanine debt. Newmark was able to arrange for very competitive terms with one of our most trusted CMBS lenders in combination with a very reliable mezzanine lender.”
-Tim Storey, Principal
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$57,550,000 for Two MHP in Apache Junction, AZ
AUGUST 22, 2017
Commercial Mortgage Banking Firm Funds Nearly $360 Million of Transactions in the state of Arizona Since Beginning of Year; $70.5 Million are Manufactured Home Communities
PHOENIX, AZ – Newmark®, the largest independent commercial mortgage banking firm in the western U.S., has secured $57.55 million in new long-term financing for two separate manufactured home communities in Apache Junction, Arizona. Patrick Barkley, Principal, and Chad Metzger, Associate Vice President, worked with the borrower in arranging non-recourse financing with two of Newmark’s agency relationships. Pricing and other terms were not disclosed.
“High quality manufactured home and park model communities have proven year in and year out to be one of the premiere property types in any economic cycle. Our lenders aggressively pursued these loan opportunities and closed ahead of schedule.”
-Patrick Barkley, Principal
Transaction Details:
- $36.66 million in permanent financing secured for a 400+ pad, 55 and older, 5-star manufactured home community located on approximately 72 acres.
- $20.89 million loan for the acquisition of the 55 and older, 730-space RV park model resort located on approximately 42 acres in Apache Junction.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation
$9,000,000 for Multifamily Property in Pullman, WA
AUGUST 21, 2017
SPOKANE, WA – Newmark® has arranged financing in the amount of $9,000,000 secured by a stabilized apartment property with 103 residential units. The property is primarily occupied by students at Washington State University, with the building located off-campus in Pullman, WA. The property is newly built and includes a recreational facility, excess storage, and ample parking. The financing was arranged by Demetri Koston, Principal for Newmark in Spokane, Washington.
The long-term fixed rate loan was arranged to “take-out” the construction financing and lock-in a very competitive interest rate. While interest rates have been very volatile recently, Newmark worked with the lender to hold the quoted rate through the due diligence and approval process without being subject to deposits or margin calls. Newmark arranged the financing with one of its network lenders based in the Pacific Northwest.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$13,000,000 for Port Gardner Office in Everett, WA
AUGUST 15, 2017
SPOKANE, WA – Newmark® has arranged financing in the amount of $13,000,000 secured by the historic Port Gardner Office building located in Everett, WA. Principal, Demetri Koston of Newmark’s Spokane office, arranged the non-recourse, 10-year fixed-rate term on behalf of the borrower. The property includes approximately 100,000 sq ft of office and retail space including an adjacent parking annex. The multi-story property is located in the heart of downtown Everett, WA, a coastal community within the northern boundary of Puget Sound. Built in 1929, the property is architecturally unique and considered iconic to the community.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$27,000,000 for Technology Park in San Carlos, CA
SAN CARLOS, CA – Newmark has arranged $27,000,000 of financing for the six-building, industrial/R&D business park totaling 103,000 square feet. The property is 100% occupied by nine tenants. Principals Robert Slatt, Jeff Wilcox and William Monheit and Associate Vice President Erinn Cooke worked on behalf of the borrower to arrange the non-recourse financing on a 10-year term with a 30-year amortization. Newmark arranged the loan with one of its correspondent lenders and will service the loan on behalf of the lender.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$75,000,000 for TOPA Financial Center in Honolulu, HI
AUGUST 7, 2017
LOS ANGELES, CA – Newmark® has arranged $75,000,000 in fixed-rate financing for TOPA Financial Center, two 23-story Class A office towers in the heart of downtown Honolulu’s central business district. Located on the Island of Oahu, Hawaii, the property comprises of ~508,000 rentable square feet on a full city block and is one of the most widely recognized office developments in Honolulu.
George Mitsanas, Principal, and Jasmine Polson, Associate, of Newmark’s Los Angeles office, arranged the fixed-rate financing on behalf of the borrower. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders.
We have financed a number of projects in the State of Hawaii, including the recently constructed $160MM FBI headquarters in Honolulu. As a privately owned firm with no parent company or outside investors, based out of San Francisco, Newmark is one of the nation’s most prolific mortgage banking firms. Unlike other real estate firms who are owned by banks or Wall Street firms, where chasing IPOs or quarterly earnings seem to be their primary focus, as a privately owned mortgage banking firm we are able to make decisions that best serve our clients. Throughout the decades we have continuously been in the commercial mortgage banking / finance business, we have capitalized income properties throughout the nation. In most cases after procuring the financing vehicle, we stay in the deal with our clients as the loan servicer.
-George Mitsanas, Principal
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$41,000,000 for Creative Office Campus in Culver City, CA
| LOS ANGELES, CA – Newmark™ LOS ANGELES, Calif. (July 31, 2017) – On behalf of Los Angeles-based property owner and operator Olive Hill Group, Newmark has arranged $41 million in fixed-rate refinancing for its Courtyard at Culver Pointe, a Class-A creative office campus in the rapidly growing Culver City submarket of Silicon Beach. The $41 million loan was financed through a life insurance company represented by Newmark Realty Capital. The loan was structured with a ten-year fixed-rate term, seven-year interest-only period followed by a 30 year amortization. An earn-out, allowing up to $10 million in additional funding, is also available during the term of the loan as certain net operating income thresholds are met. The financing was arranged by Principal Andy Bratt and Vice President Amit Tyagi of Newmark™.
Olive Hill Group acquired the office buildings for $65.6 million in May 2016 and recently launched a major redevelopment and rebranding of the property to The Courtyard at Culver Pointe. The redevelopment will include upgraded seating areas throughout the courtyard, food truck loading zones, a bocce ball court, and a new on-site gym facility, among others. “The Courtyard at Culver Pointe’s prime location, strong occupancy, and quality tenant mix made this an attractive property to finance,” explains Newmark’s Amit Tyagi. “The challenge, however, was identifying a lender that understood the asset’s long-term investment potential. Lenders typically look for consistency in historical operating statements and had initial reservations with the recent ramp up in net operating income.” To combat this challenge, Newmark Realty Capital, together with Olive Hill Group, leveraged their local market expertise to prove that the current rent levels were sustainable and on-par with market values. In addition, Newmark Realty Capital prepared a pro-forma outlook and provided a number of rental comps to justify the projected rents that the property would achieve upon completion of the extensive renovations. Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. |
$10,270,000 for Mesa Ridge Apartments in Mesa, AZ
JULY 27, 2017
MESA, AZ – Newmark™, has arranged financing in the amount of $10,270,000, secured by a 151-unit multifamily property in Mesa, AZ. The property was originally constructed in 1974, but it had recently received some upgrades. At closing, the property was 95% occupied.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged this acquisition loan through a regional bank. The borrower’s loan request included a maximum leverage loan as the down payment was coming in the form of a 1031 exchange. The subject is located in an improving submarket and is expected to benefit from the nearby Fiesta District revitalization
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$27,200,000 for Stanford Park Hotel in Menlo Park, CA
JULY 18, 2017
MENLO PARK, CA – Newmark™ has arranged fixed-rate financing in the amount of $27,200,000 for the Stanford Park Hotel in Menlo Park, CA. Principals, Robert Slatt and Jeff Wilcox, along with Associate, Charlie Kokernak, arranged the non-recourse loan with an undisclosed life insurance company. The operator worked closely with Newmark to arrange the new first deed of trust, which was used to refinance existing debt, cover closing costs, and fund scheduled capital improvements.
The 162 room, full-service hotel, is a premier establishment that opened in 1984. Located on a single parcel ground lease from Stanford University, the hotels sits adjacent to the University, the Stanford Shopping Center, and Downtown Palo Alto.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$151,000,000 for Presson Portfolio in Phoenix, AZ
JUNE 29, 2017
PHOENIX, AZ – Newmark™, the largest independent commercial mortgage banking firm in the western U.S., has secured $151 million in new permanent financing for a 30 property, multi-tenant industrial portfolio totaling more than 4 million square feet and in excess of 1,000 tenants.
Tim Storey, Principal, and Chad Metzger, Associate Vice President, with Newmark’s Phoenix production office worked with the borrower to arrange the 15 year, sub 4% rate, non-recourse financing with one of Newmark’s correspondent life company lenders, VOYA. Other terms were not disclosed. All loans will be serviced Newmark.
“Given the high quality of the sponsorship and the underlying real estate, there was significant interest from the institutional lending community in this opportunity,” said Newmark’s Storey. “After a thorough vetting of the market, VOYA ended up offering the best overall solution for the borrower’s portfolio and future plans. The team at VOYA not only delivered superior terms, but executed quickly and decisively on a challenging deal with many moving parts.”
The portfolio is a mix of light industrial / manufacturing buildings with small to medium size bay depths located in Phoenix, Tempe, Mesa, Chandler, Gilbert, Glendale, Goodyear, Surprise and Peoria, Arizona. The properties were constructed between 1966 and 2008 with approximately 25% of the tenants on month-to-month leases and range in size from 52,500 to 260,000 square feet.
“When the time came to consider a fixed rate loan for a large portion of our portfolio, Tim Storey was my first call,” said Coree Peterson, Chief Financial Officer for Presson Companies. “Newmark made every step of the process, from evaluating options through closing, as easy as it could be.”
$16,000,000 for Plaza on Main in Alhambra, CA
JUNE 22, 2017
ALHAMBRA, CA – Newmark™ has arranged $16,000,000 in permanent financing for Plaza on Main located in Alhambra, CA. The six-story, 110-unit multifamily property with 8,600 SF of ground floor retail is situated directly on Main Street in downtown Alhambra. The property features access to numerous retail and entertainment options within walking distance including Target, Costco, Edwards Theater, and LA Fitness.
George Mitsanas, Principal, and Josh Natker, Associate, arranged the fixed-rate financing for the borrower. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders using general account funds. The structured transaction involved numerous hurdles including a tax abatement regulatory agreement, bond encumbrance, and an age restricted covenant.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$9,150,000 for Vintner’s Square Retail in Lodi, CA
LODI, CA – Newmark™ has arranged refinancing in the amount of $9,150,000 secured by a five building, multi-tenant, 9.11 acre, fully occupied retail shopping center in Lodi, CA. Some of the tenants include Chili’s, Round Table Pizza, Pier 1 Imports, and H&R Block. The subject is located at one of the prime retail intersections location in Lodi, with Kettleman Road being one the major retail arterials in Lodi. Major tenants in the immediate area at this intersection include Lowe’s, Wal-Mart, In-N-Out Burger, Bev Mo, Target, Chase, and US Bank.
Mitch Zeemont, Principal, and Darija Walker, Associate, in Newmark’s San Francisco office, arranged the non-recourse, 10-year term, 25-year amortization financing as correspondent for Genworth Financial. Newmark will service the loan. Pricing and other terms were not disclosed.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$35,800,000 for Oakmead Terrace in Sunnyvale, CA
JUNE 7, 2017
SUNNYVALE, CA – Newmark™ has secured $35.8 Million in financing for the Sunnyvale office campus, originally built in 1980, encompassing four buildings featuring 143,343 square feet of rentable office space. Principal Eric Von Berg of Newmark’s San Francisco office arranged the five year loan features an interest only base period with 30 year amortization and offers a flexible prepay component with non-recourse terms. Newmark will service the loan.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$5,550,000 for Mixed-Use Property in San Francisco, CA
Demetri Koston, Vice President of Newmark Realty Capital, has arranged permanent financing secured by a stabilized mixed-use property in San Francisco’s historic North Beach neighborhood. The $5,550,000 loan has a highly competitive fixed-rate term and a 30-year amortization. The loan was placed with one of Newmark’s banking relationships.
The property is typical for the area with apartment units over retail suites on the ground floor, plus a parking lot. The property is ideally located in the heart of the commercial district of Telegraph Hill, which includes Coit Tower, Washington Square, and the dense retail of Columbus Avenue. The property is in one of the most highly sought-after trade areas of North America. Newmark worked on behalf of the borrower on an exclusive basis and helped identify the most competitive terms available in the market.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$3,250,000 for Super 1 Foods in Whitefish, MT
Demetri Koston, Vice President of Newmark Realty Capital, Inc.’s Spokane, WA office, has arranged permanent financing secured by a Super 1 Foods grocery store in Whitefish, MT. The $3,250,000 loan has a fixed-rate term that fully amortizes over the 15 year period of the loan. The loan was placed with one of Newmark’s correspondent life insurance company lenders.
The property is fully leased by a single tenant grocer located in a retail mall along the main arterial thru the Whitefish area. The grocer has been a strong performer since opening in 2005. In addition to the grocery store, the retail mall includes national tenants such as McDonald’s, GNC, and Postal Annex. Whitefish is a regional hub servicing the fast growing communities of Northwest Montana. Whitefish is considered to be the recreational gateway to nearby amenities including Glacier National Park, Whitefish Mountain Resort, and Flathead Lake. Newmark worked with the lender to lock the rate several months prior to funding the loan.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$5,300,000 for Student Housing in Boone, NC
MAY 18, 2017
SPOKANE, WA – Newmark™ has arranged financing in the amount of $5,300,000 secured by a stabilized student housing property with 33 residential units totaling 132 individual rooms. The property serves students at Appalachian State University in Boone, North Carolina. The property was originally built in 2011, which includes 3 buildings on nearly 4 acres. The financing was arranged by Demetri Koston, Vice President for Newmark in Spokane, Washington.
The loan was arranged to help fund the acquisition, which included a 1031 exchange. As a result, the transaction had a rigid timeline and highly defined requirements. Newmark identified the lender best-suited for the transaction, given the specialized property type in a relatively small metro area. Ultimately, Newmark arranged the financing with one of its correspondent lenders and will service the loan on behalf of the lender.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$6,100,000 for Terra Bella in Mountain View, CA
$9,000,000 for North First Street in San Jose, CA
$10,000,000 for 369 Pine Street in San Francisco, CA
$42,750,000 for Hacienda Commons in Pleasanton, CA
$61,000,000 for Monterey Plaza Hotel in Monterey, CA
DECEMBER 15, 2016
MONTEREY, CA – Newmark’s™ Robert Slatt and Jeff Wilcox, Principals, and Charlie Kokernak, Associate, arranged $61,000,000 in fixed-rate financing for The Monterey Plaza Hotel & Spa, a 290-room full service hotel. The premier establishment is located on Monterey’s Cannery Row on seven contiguous ground leased parcels. The operator worked closely with Newmark to arrange the new first deed of trust, which was used to refinance existing debt, cover closing costs, and fund scheduled capital improvements. The non-recourse financing solution was arranged from one of Newmark’s New York-based correspondent life insurance companies, and will be serviced throughout the remainder of its term by Newmark.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$19,200,000 for Home Depot Center in San Jose, CA
MAY 22, 2017
SAN JOSE, CA – Newmark™ has arranged financing in the amount of $19,200,000 secured by a 134,000 square foot retail center in San Jose, California. Principals Mitch Zeemont, Jeff Wilcox and Robert Slatt, Associate Vice President Erinn Cooke and Associate Darija Walker worked on behalf of the borrower to arrange the refinance. The property is 100% occupied by a three tenants, including Home Depot on a ground lease. The loan was arranged through an undisclosed insurance company.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$13,000,000 for Single Tenant R&D in Fremont, CA
MAY 22, 2017
FREMONT, CA – Newmark™ has arranged $13,000,000 in fixed rate financing for 46723 Lakeview Boulevard, a partial two-story Research and Development building located in Fremont, California. The financing solution was arranged by Robert Slatt and Jeff Wilcox, Principals, and Charlie Kokernak, Production Associate, of Newmark Realty Capital as a first deed of trust on a non-recourse basis from a CMBS lender as part of a sale-leaseback transaction with Genmark Automation.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$12,750,000 for De Ritz Office in San Mateo, CA
MAY 2, 2017
SAN MATEO, CA – Newmark™ has arranged refinancing in the amount of $12,750,000 secured by a 62,661 SF multi-tenant space in San Mateo, CA. The 100% occupied, four-story, Class-B office building is located blocks away from the Highway 92 and sits directly across the El Camino Real from a Safeway anchored shopping center, positioned between numerous small, single-tenant office, and retail buildings.
Jeff Wilcox and Mitch Zeemont, Principals, and Darija Walker, Associate, in Newmark’s San Francisco office, arranged the non-recourse, 10-year term, 25-year amortization with one of Newmark’s correspondent relationships. Newmark will service the loan. Pricing and other terms were not disclosed.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$2,525,000 for Two Retail Strip Centers in Phoenix, AZ
PHOENIX, AZ – Newmark™ has arranged two 10-year fixed-rate loans totaling $2,525,000 secured by two multi-tenant retail strip centers in Phoenix and Tempe. The two non cross-collaterized loans were used to acquire the properties in separate purchase transactions.
Adam Parker, Principal, and Chad Metzger, Assistant Vice President of Newmark, arranged the loans though one of Newmark’s correspondent life insurance Company lenders, which will be serviced by Newmark. Pricing and other terms were not disclosed.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$6,700,000 for Marina Vista Apts in Napa, CA
$1,779,000 for 208 Acres of Farmland in Orondo, WA
APRIL 4, 2017
SPOKANE, WA – Newmark™ has aranged financing in the amount of $1,779,000 secured by approximately 208 acres of farmland in Orondo, Washington. Demetri Koston, Vice President for Newmark in Washington, worked on behalf of the borrower to arrange the new loan facility.
The 208-acre property includes vineyards and other crops such as pears and apples, plus additional land in various stages of development for more vineyards. The property is situated along the Columbia River in the heart of one of Washington’s wine grape growing areas. A portion of the current grape production is directed to a premier wine company in Washington known for its high quality. Newmark arranged the financing with one of its correspondent lenders, and will service the loan on behalf of the lender.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$22,400,000 for Warehouse Distribution in Panorama City, CA
MARCH 29, 2017
PANORAMA City, CA – Newmark™ has arranged financing in the amount of $22,400,000 secured by a 200,000 square foot manufacturing, warehouse and distribution building in Panorama City, California. Principals Braden Turnbull, Jeff Wilcox, and Robert Slatt and Associate Vice President Erinn Cooke worked on behalf of the borrower to arrange the refinance.
Constructed in 2006, the property is 100% occupied by a single tenant and is located in the Van Nuys Center at The Plant, a 68-acre retail and industrial complex.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$15,000,000 for Embarcadero Business in Oakland, CA
-Darren Pacheco, Vice President of Newmark
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$11,700,000 for Homewood Suites in Richland, WA
$1,615,000 for NNN Single Tenant in San Diego, CA
Mitch Zeemont, Principal, and Darija Walker, Associate, in Newmark’s San Francisco office, arranged the fixed-rate, 10-year term, 30-year amortization with one of Newmark’s correspondent life insurance companies. Newmark will service the loan. Pricing and other terms were not disclosed.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$325,000,000 for Mixed-Use Tower in Seattle, WA
JANUARY 31, 2017
SEATTLE, WA – Newmark™, the largest independent commercial mortgage banking firm in the western United States, has structured and secured $325 million of development funding for a 41-story mixed-use multifamily and hotel tower located in the Belltown submarket of downtown Seattle. The project financing includes a $225 million joint-venture partnership and a $100 million construction-to-permanent loan to develop the as yet-to-be-named property, formerly known as Potala Tower.
“This was an extremely complex capital stack and deal structure with many moving parts. The project faced numerous hurdles, including salvaging the principal of original investors who are now represented by the new joint venture. Newmark has decades of experience in arranging complex financing and creating joint ventures for institutional investors, and we applied that experience and stewardship to resurrecting this unique project. We had a talented and dedicated team of people involved in making this transaction a reality.”
-George Mitsanas, Principal of Newmark
Due to circumstances concerning the original developer of the project, the project was put under the control of a court-appointed receiver and construction was suspended on the project for approximately one year. The joint-venture development partnership, arranged by Newmark, acquired the property from the court-appointed receiver in October 2016. Construction has resumed at the project and is now underway, with Denver, CO-based PCL as the general contractor and project design from Seattle’s Weber Thompson architects. The tower will feature 339 apartment units, 142 hotel rooms, and 1,824 SF of ground floor retail space. The project is designed to meet the LEED silver certification standard and is expected to be completed by August 2018.
The Newmark team was led by George Mitsanas, Principal, Peter Hillakas, Vice President, and Doug Tisdale, Associate, from Newmark’s Los Angeles office. Joining them in completing this transaction was Mike Taylor, Principal, and Patrick Taylor, Associate, from Newmark’s Seattle office. The $100 million construction-to-permanent loan was placed with two of Newmark’s correspondent life insurance company lenders on a pari-passu basis with each lender providing $50 million in financing. The 7-year construction-to-permanent loans will be interest-only for a period of time and later amortized over 30 years. Both loans will be serviced by Newmark.
“Both our development team, lending group, and all third-party professionals involved were fantastic companies and people to deal with throughout the process. A first-class group of professionals! This project will also be a significant job creator both during construction and once completed,” said George.
About Newmark:
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$13,775,000 for US Bank Building in Spokane, WA
$8,150,000 for Chavez Grocery Stores in Bay Area, CA
JANUARY 19 2017
SAN JOSE, CA – Newmark has arranged two fixed-rate loans totaling $8,150,000 secured by two Chavez Market grocery stores in San Jose and Hayward, CA. Robert Slatt and Braden Turnbull, Principals, and Charlie Kokernak, Associate, of Newmark, arranged the loans as two separate first deeds of trust on the owner-occupied properties, which were not cross collateralized. The fully amortizing financing solution was arranged from one of Newmark’s correspondent life insurance companies, which will be serviced throughout the remainder of its life by Newmark Realty Capital.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation
$5,700,000 for Smart & Final in Citrus Heights, CA
JANUARY 12, 2017
CITRUS HEIGHTS, CA – Newmark has arranged acquisition financing in the amount of $5,700,000, secured by a 28,243 SF single tenant space in Citrus Heights, CA. The newly constructed space is occupied by a Smart & Final, which opened in May 2016. The property is situated among several shopping centers and suburban housing developments making it a prime location in Citrus Heights.
Mitch Zeemont, Principal, and Darija Walker, Associate, in Newmark’s San Francisco office, arranged the non-recourse, 20-year term, 20-year amortization with one of Newmark’s correspondent life insurance company relationships. Newmark will service the loan. Pricing and other terms were not disclosed.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$21,900,000 for Two Retail Properties in Los Angeles, CA
LOS ANGELES, CA – Newmark Realty Capital, Inc. has arranged permanent financing totaling $21,900,000 for a 38,665 square foot free-standing Whole Foods grocery store in Mar Vista and a 25,496 square foot four-building retail portfolio in Beverly Hills. The total financing includes two separate loans consisting of an $8,600,000 loan on the Whole Foods grocery store and a $13,300,000 loan on the retail portfolio in Beverly Hills. Both loans were refinances. Sales are strong at this particular Whole Foods location in the Mar Vista neighborhood of Los Angeles, which has an average household income in the surrounding trade area in excess of $100,000. The four-building retail portfolio is located in the premiere Beverly Hills retail market with some of the strongest demographics in the country with median home prices in excess of $1 million.
$2,480,000 for 7th & Dunlap Retail in Phoenix, AZ
DECEMBER 29, 2016
PHOENIX, AZ – Newmark has arranged financing in the amount of $2,480,000, secured by a 30,650 SF retail property located in Phoenix, AZ. The subject is positioned on a major intersection in North Central Phoenix. At closing, the property was approximately 13% occupied and 76% leased.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged this acquisition and rehab loan through a regional bank. The loan vehicle provided the borrower with loan dollars at closing to acquire the asset, and it provided the borrower with TI/LC dollars to be spent on a credit tenant that signed a lease prior to closing. Furthermore, the loan was structured to allow the borrower to draw additional TI/LC dollars as additional leases are signed.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$8,500,000 for Menlo Business Park in San Jose, CA
DECEMBER 22, 2016
SAN JOSE, CA – Newmark has arranged financing in the amount of $8,500,000 secured by a 112,151 SF flex office space consisting of five, one-story buildings located in the North San Jose submarket of Silicon Valley. Mitch Zeemont, Principal, and Darija Walker, Associate, in Newmark’s San Francisco office, arranged the non-recourse, 15-year term, 25-year amortization with one of Newmark’s correspondent relationships. Pricing and other terms were not disclosed.
The subject property consists of highly sought after, highly functional, flex office space that is centrally located between Interstate 880 and 680. This deal relied on strong sponsorship; where the sponsors had over 75 combined years of experience in commercial real estate, and currently manage over 850,000 square feet of rentable space.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$11,595,800 for New Multifamily Units in , WA
DECEMBER 15, 2016
SPOKANE, WA – Newmark has arranged take-out financing in the amount of $11,595,800 secured by a new multi-family property located in Washington State. Demetri Koston, Vice President for Newmark Realty Capital in Washington, worked on behalf of the borrower to arrange the 12-year fixed rate term on a non-recourse basis.
The property is well located with high quality construction, which attracted a variety of institutional capital sources. Given the borrower’s objectives, Newmark identified the most competitive options available in today’s capital markets. Ultimately, the borrower selected one of Newmark’s correspondent lenders and the loan was fully funded immediately upon the property reaching stabilization.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$38,800,000 for Two Apartments in Orange County, CA
DECEMBER 13, 2016
ORANGE COUNTY, CA – Newmark has arranged permanent financing totaling $38,800,000 for two 400-unit garden style apartment communities located in the Orange County cities of Santa Ana and Orange. The total refinancing includes two separate loans consisting of a $20,000,000 loan on the Santa Ana property and an $18,800,000 loan on the property in Orange. The properties are in close proximity to the South Coast Plaza shopping center and The Outlets at Orange, as well as notable Orange County attractions Disneyland and Angel Stadium.
Working on an exclusive basis, George Mitsanas, Principal, and Doug Tisdale, Associate, in Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower, a Beverly Hills based developer. The 15-year interest only loans were placed with one of Newmark’s correspondent life insurance company lenders. Newmark will also service the loan.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
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$6,650,000 for Paragon Plaza in Phoenix, AZ
DECEMBER 8, 2016
PHOENIX, AZ – Newmark has arranged permanent financing in the amount of $6,650,000 for a 63,000 square foot multi-tenant office complex ideally located within the 7th Street corridor in the central portion of metropolitan Phoenix. The subject consists of three Spanish-style buildings that feature unique architectural designs including archways, exterior breezeways, balconies and a central courtyard. The property was approximately 92% occupied at the time of close.
Tim Storey, Principal in Newmark’s Phoenix office, worked with the borrower to arrange the 10-year, non-recourse, acquisition financing with one of Newmark’s correspondent relationships. Pricing and other terms were not disclosed.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$20,850,000 for Elevate Apartments in Henderson, NV
$5,362,000 for West 5th Apartments in Tempe, AZ
DECEMBER 5, 2016
TEMPE, AZ – Newmark has arranged financing in the amount of $5,3620,000, secured by a 44-unit multifamily property located in Tempe, AZ. The asset was originally constructed in 1973 and completely renovated in 2015/16. At closing, the property had just recently achieved stabilization which was one of the challenges associated with the assignment.
Adam Parker, Principal, & Chad Metzger, Associate Vice President, arranged this acquisition loan through a regional bank. The borrower’s loan request included a maximum leverage loan as the down payment was coming in the form of a 1031 exchange. The subject is located less than one mile from Tempe’s Arizona State University, the Mill Avenue District, and the newly branded Farmer Arts District.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$4,500,000 for Creek Bridge Apartments in Salinas, CA
DECEMBER 1, 2016
SALINAS, CA – Newmark arranged financing for CreekBridge Apartments, a newly constructed 36-unit project in the CreekBridge master planned community in Salinas, CA. The loan is at a fixed interest rate over its 17-year fully amortizing term. The new loan is unique today in that it allows the borrower to make partial principal repayments (aside from the monthly debt service) periodically with no penalty. At application, the borrower was able to fix the interest rate, six months prior to loan closing. The lender is an insurance company that uses Newmark Realty Capital as its local loan correspondent. Newmark managed the entire process from underwriting, due diligence, and loan funding.
The origination team at Newmark consisted of Eric Von Berg, Principal, and Tom Dao, Associate.
“Tom and Eric were attentive to our concerns, found a lender who could deliver the deal points we required, and tirelessly pushed the loan through closing.”
– Hugh Bikle, CEO of Thrust IV/Creekbridge Homes.
In this time of market volatility, Newmark provides assurance of the best available interest rate and certainty of execution. The entire loan process was smooth and efficient. Newmark will service this loan on behalf of the lender, assuring the borrower of continuity in the relationship with the lender and Newmark as loan servicer.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$1,360,000 for Sherwin Williams in Aurora, CO
NOVEMBER 10, 2016
AURORA, CO – Mitch Zeemont, Principal, and Darija Walker, Associate, of Newmark Realty Capital, Inc., have arranged $1,360,000 in acquisition financing for a newly constructed Sherwin Williams retail store in Aurora, CO. The loan proceeds were used to help the borrower recapitalize an all cash acquisition. The financing was placed with one of Newmark’s correspondent life insurance companies and the loan features a 20-year term that fully amortizes over the life of the loan. Newmark will also service the loan on behalf of the lender.
Sherwin Williams is on a 10-year, NNN lease, with four 5-year options to extend. The subject property is located along the main retail corridor across the street from Southlands Mainstreet Shopping Center and right off the E-470 Public Highway. Sherwin Williams has high expectations for this location as it is located next door to a residential development project which has been approved for 140 new single family homes.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$25,000,000 for Blue Cross & Blue Shield in Columbus, GA
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. Newmark has tremendous experience in credit lease transactions having arranged several billion the past few years.
$2,430,000 for The Filmore Apartments in Phoenix, AZ
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged this cash-out refinance through a regional bank. The borrower’s loan request included a maximum leverage loan inclusive of two years of interest-only payments with some prepayment flexibility during the loan term. The subject property is located within the downtown Phoenix creative district called Roosevelt Row or RoRo.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$6,800,000 for Multi-Tenant Office in Spokane Valley, WA
OCTOBER 31, 2016
SPOKANE VALLEY, WA – Newmark Realty Capital, Inc. has arranged permanent financing secured by a multi-tenant office property in Spokane Valley, WA. The financing was arranged by Demetri Koston, Vice President with Newmark Realty Capital in Spokane. The $6,800,000 permanent loan was made on a non-recourse basis requiring no personal liability to any individuals. The loan was placed with one of Newmark’s correspondent life insurance companies. Newmark will continue to service the loan, and remains primary contact for the borrower throughout the term.
Originally developed in 2006, the property is currently 90% occupied by multi-national companies such as Salesforce and Cielo. The property is located in the Pinecroft Business Park of Spokane Valley, a relatively newly developed area providing office tenants high quality leasing options. The area offers many benefits including ease of access from Interstate 90, close proximity to downtown Spokane, ample parking and a variety of amenities available.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$11,820,000 for Diablo Technology Center in Pleasanton, CA
OCTOBER 28, 2016
PLEASANTON, CA – Robert Slatt and Charlie Kokernak of Newmark Realty Capital, and David Schaffer of Melvin Mark Capital Group, have arranged $11,820,000 in fixed-rate acquisition financing for Diablo Technology Center, a multi-tenant office/R&D building in Pleasanton, CA. The financing solution was arranged as a first deed of trust on a non-recourse basis from one of Newmark’s correspondent life insurance companies and will be serviced throughout the remainder of its life by Newmark Realty Capital.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$11,245,000 for The Meadows in Thornton, CO
OCTOBER 26, 2016
THORNTON, CO – Newmark Realty Capital, Inc. has arranged financing in the amount of $11,245,000, secured by a 104-unit multifamily property, located in Thornton, CO. The property, constructed in 1974, is well located next to the area’s major retailers. At closing, the subject property consisted of below market rents which made the asset a desirable acquisition within the Denver MSA.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged the permanent financing through an agency lender. Newmark was hired to facilitate acquisition financing that included maximum loan proceeds and two years of interest-only payments.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$10,000,000 for Gelson’s Market Store in Laguna Beach, CA
OCTOBER 20, 2016
LAGUNA BEACH, CA – Newmark Realty Capital, Inc. has arranged acquisition financing in the amount of $10,000,000 for a 34,478 square foot free-standing Gelson’s Market grocery store in Laguna Beach. The property is located on Pacific Coast Highway, with an average household income in the surrounding trade area in excess of $160,000. Gelson’s sales are strong at this location and they have ample time remaining on their lease term.
Working on an exclusive basis, George Mitsanas, Principal, and Doug Tisdale, Associate, in Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower, a Beverly Hills based developer. The 10- year loan was placed with one of Newmark’s correspondent life insurance company lenders and provides for interest only during the first five years followed by a 30-year amortization. Newmark will also service the loan.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$7,100,000 for Single Tenant Portfolio in San Francisco, CA
OCTOBER 13, 2016
SAN FRANCISCO, CA – Jeff Wilcox, Robert Slatt, and Erinn Cooke of Newmark Realty Capital have arranged $7,100,000 in fixed-rate financing for a portfolio of NNN assets located throughout the Midwestern and Northeastern United States. The financing solution was arranged as seven individual first deed of trust transactions, all cross-collateralized. The borrower used the financing to recapture equity after acquiring the assets in all cash transactions. The loans were provided on a recourse basis from one of Newmark’s correspondent life insurance companies. The borrower was motivated by the long term fifteen-year fixed-rate at a very competitive interest rate.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$4,280,000 for Village Square Apartments in Detroit, MI
OCTOBER 12, 2016
DETROIT, MI – Mitch Zeemont, Principal, and Darija Walker, Associate, of Newmark Realty Capital, Inc., have arranged $4,280,000 in financing for a 9 building, 189-unit apartment complex located in the Schulze District of Detroit. The Freddie Mac financing was placed with an agency lender that features a 10-year term, at 4.48% that fully amortizes in 30 years. After a solicitation on Strategic Alliance Mortgage (SAM), Newmark was able to co-sponsor the deal with Bernard Financial. The property sits on a 5.5-acre lot and is comprised of 96,420 leasable square feet with a unit mix of one and two bedroom apartments. The surrounding neighborhood is primarily residential with Marygrove College just a few blocks away.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$5,400,000 for Los Gatos Gateway in Los Gatos, CA
OCTOBER 11, 2016
LOS GATOS, CA – Newmark Realty Capital, Inc. has arranged $5,400,000 in permanent financing for Los Gatos Gateway, an 18,500 square foot mixed-use medical office and retail building. The property contains ground floor retail with credit tenants and two floors of Medical Office use, which benefits from its proximity to The Good Samaritan Hospital. Andy Bratt, Vice President, from Newmark’s Newport Beach office arranged the non-recourse financing and was able to provide a fully amortizing loan fixed for 20 years at an incredibly low interest rate of 3.25%. The property was originally developed by the owner in 2006 and the new financing retired a maturing CMBS loan.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$31,000,000 for Destination Retail Center in Tucson, AZ
OCTOBER 5, 2016
Tucson, Arizona – Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $31,000,000 for a 130,000 square foot “trophy” asset located on a “Main & Main” intersection for retail in Tucson, Arizona. The subject offers a diverse shopping experience including off-price retailers, sporting goods and signature fast casual dining. In addition, the subject has a long history of being a landmark retail center in the central-east corridor of Tucson.
Tim Storey, Principal in Newmark Realty Capital’s Phoenix office, worked with the borrower to arrange the 5-year, non-recourse acquisition financing with one of Newmark’s correspondent relationships. In addition, Newmark assisted in arranging the equity required for the purchase. Pricing and other terms were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$3,800,000 for Single Tenant Office in Coeur d Alene, ID
SEPTEMBER 8, 2016
COEUR D’ALENE, ID – Newmark Realty Capital, Inc. has arranged permanent financing secured by a single-tenant office property in Coeur d’Alene, Idaho. The property is 100% occupied by Mountain West Bank. The financing was arranged by Demetri Koston and Skip Slavin, both Vice Presidents with Newmark Realty Capital in Spokane and Seattle, respectively. The $3,800,000 permanent loan has highly competitive terms including a 10-year fixed-rate and a 25-year amortization, flexible prepayment structure, and assumability. The loan was placed with one of Newmark’s correspondent pension fund advisers.
The office property is adjacent to the headquarters of Mountain West Bank, a division of Glacier Bancorp, a publicly traded bank holding company with stated total assets exceeding $9 BB. The property was originally developed for the tenant in 2009 and serves as support offices for various departments within the bank, including mortgage and SBA loans, and electronic banking services.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$4,500,000 for Scottsdale Design Center in Scottsdale, AZ
SEPTEMBER 7, 2016
SCOTTSDALE, AZ– Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $4,500,000 for a retail design center totaling 52,670 square feet that sits on 4.48 acres. The subject property was built in 1987 and was later renovated in 2001.
Tim Storey, Principal, and Chad Metzger, Associate Vice President, of Newmark Realty Capital, Inc., worked with the borrower to arrange the 10-year, non-recourse financing with a correspondent life company. The loan is interest- only for the full term. Pricing and other terms were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$14,800,000 for Self-Storage Portfolio in Los Angeles, CA
SEPTEMBER 1, 2016
LOS ANGELES, CA – Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $14,800,000 for a three-property Southern California self-storage Portfolio totaling 215,000 SF and over 1,900 units. The facilities are managed by a regional operator. Newmark arranged a loan that allowed the borrower to lock in a low rate six months prior to the open prepayment window for its maturing loan.
The strength of this transaction was based on strong location, sponsorship, excellent property management and modest leverage. Andy Bratt, Vice President, in Newmark’s Orange County office, arranged the fixed-rate, non-recourse financing for the borrower. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$1,300,000 for Single Tenant Office in Campbell, CA
AUGUST 31, 2016
CAMPBELL, CA – Mitch Zeemont, Principal, and Darija Walker, Associate, of Newmark Realty Capital, Inc., have arranged $1,300,000 in cash-out refinancing for a single tenant office building in Campbell, CA. The financing was placed with one of Newmark’s correspondent life insurance companies that features a long term, fixed-rate at 4.10% that fully amortizes over the life of the loan. The 6,392 SF property is located in the heart of downtown Campbell, which is surrounded by a mix of residential, eclectic restaurants, nightclubs, and office space.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$2,850,000 for Sandalwood Square Apts in Phoenix, AZ
AUGUST 30, 2016
PHOENIX, AZ– Newmark Realty Capital, Inc. has arranged acquisition financing in the amount of $2,850,000, secured by a 68-unit multifamily property, located in Phoenix, AZ. The subject property was originally constructed in 1964 & 1967.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged this acquisition loan through a regional bank. The borrower’s loan request included maximum leverage since they plan to fund property improvements to the asset with their own capital. At closing, the property was 100% occupied due to its below market rent rates.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$6,000,000 for Mixed-Use Property in San Mateo, CA
AUGUST 26, 2016
SAN MATEO, CA – Working on an exclusive basis, Robert Slatt, Jeff Wilcox and Charlie Kokernak of Newmark Realty Capital, have arranged $6,000,000 in bridge financing for The Hillsdale Inn, three parcels of land improved by a motel, self-service car wash, and Enterprise Rent-a-car in San Mateo, CA. The financing solution was arranged to recoup development costs and provide funding while the sponsor completes entitlement and seeks approval to redevelop the site. The financing was structured as a first deed of trust with a local bank and features interest-only payments during the three-year term.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$6,300,000 for Power Self Storage in Ventura, CA
AUGUST 23, 2016
VENTURA, CA – Newmark Realty Capital, Inc. arranged the refinancing for Ventura Power Storage with a 20-year, fixed-rate loan. The new loan is fully amortizing, which is a very good match for a leasehold property. The property consists of 1,622 storage units. SKS Management, a top tier self-storage management company, oversees the operation. The borrower locked in a good interest rate 6 months prior to the open prepayment period on its maturing loan. The lender was an insurance-company lender that uses Newmark Realty Capital as its loan correspondent. This type of forward rate lock is especially beneficial in times of interest rate volatility. Newmark will be servicing this loan on behalf of the lender. This arrangement assures the borrower good loan service and continuity of relationship at Newmark and the lender.
The origination team at Newmark consisted of Eric Von Berg, Principal, and Tom Dao, Associate, who provided certainty of execution through a smooth underwriting, due diligence and closing process.
“Tom and Eric provided a seamless process from origination to loan closing, and gave us the confidence that we could complete this refinancing in this environment of interest rate volatility. With the new loan, we were able to avoid impounds, bank charges, and improved our cash flow significantly,”
– Susan Matthews, Managing Partner.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$5,000,000 for Palo Verde Apartments in Colorado Springs, CO
AUGUST 15, 2016
COLORADO SPRINGS, CO – Newmark Realty Capital, Inc. has arranged financing in the amount of $5,000,000, secured by a 72-unit multifamily property, located in Colorado Springs, CO. The property was constructed in 1984 and is currently subject to a Land Use Restriction Agreement (LURA).
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged the permanent financing through an agency lender. Newmark was hired to facilitate acquisition financing that included one year of interest only payments and some prepayment flexibility in the final years of the fixed-rate loan term.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$14,730,000 for Distribution Facility in Phoenix, AZ
PHOENIX, AZ – Newmark Realty Capital, Inc. has arranged refinancing in the amount of $14,730,000, secured by a 335,000 square foot, Class-A distribution facility located in Phoenix, Arizona. Patrick Barkley and Mark Ritchie, Principals of Newmark, arranged the financing through a independent commercial finance company. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$10,000,000 for Flex R&D Building in Menlo Park, CA
$10,200,000 for Distribution Building in Fort Worth, TX
AUGUST 1, 2016
FORT WORTH, TX – Chris Funai, Vice President of Newmark Realty Capital, Inc. has arranged $10,200,000 in purchase financing for a state-of-the-art, 229,840 square foot, Class-A distribution building located in Fort Worth, Texas. The non-recourse, 12-year term, 30-year amortization loan was placed with one of Newmark’s correspondent life insurance company lenders.
Completed in late 2015, the building is currently 100% leased to national and international tenants. It delivers all the features and specifications demanded by industrial users in today’s marketplace, with a 30’ clear height, 360’ building depth, 60’ staging bays, and 125’ truck courts. The property is centrally located within the interior of an established industrial park which is served by rail and Meacham Airport.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$7,250,000 for Class A Office Building in Phoenix, AZ
JULY 26, 2016
PHOENIX, AZ – Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $7,250,000 for a multi-tenant, Class A office building. The property consist of 51,809 SF and was built in 2008.
Tim Storey, Principal and Chad Metzger, Associate Vice President arranged permanent financing through one of Newmark’s servicing relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$4,350,000 for Multi-Tenant Industrial in Salinas, CA
JULY 21, 2016
SALINAS, CA – Working on an exclusive basis, Robert Slatt, Principal, Andy Bratt, Vice President, and Charlie Kokernak, Associate of Newmark Realty Capital, have arranged $4,350,000 in bridge financing for West Market Center, a multi-tenant industrial complex in Salinas, CA. The financing was structured in two parts, a $3,625,000 first deed of trust and a private loan of $725,000 in the second position. To complete the transaction, which refinanced a maturing CMBS loan, the Newmark team engaged a wide array of capital sources. Payoff timing, tenant concentration and lease expiration presented challenges for this transaction; however both financing solutions were placed with a private lending institution on an interest only basis for a three year term.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$44,500,000 for Distribution Center in Fort Worth, TX
JULY 19, 2016
Fort Worth, TX – Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $44,500,000 for the acquisition of a brand new, institutional quality, single-tenant distribution building located in Fort Worth, TX.
George Mitsanas and Tim Storey, principals of Newmark Realty Capital, Inc., worked on an exclusive basis with the borrower to arrange the 10 year, non-recourse financing with a correspondent life company. The loan will be serviced by Newmark. The subject loan is secured by a 1,440,000 sf distribution facility that is 100% leased to a credit tenant. The subject sits on just over 74 acres and is located in North Fort Worth, approximately four miles from the Meacham International Airport. Pricing and other terms were not disclosed.
According to Mr. Storey, “Newmark has a lot of experience in arranging financing for institutional quality assets all over the United States. This was the sixth project we have financed for this client within the last three years totaling nearly $300 million.”
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$6,000,000 for Single Tenant Retail in Longmont, CO
JULY 14, 2016
SAN FRANCISCO, CA – Working on an exclusive basis, Robert Slatt and Charlie Kokernak of Newmark Realty Capital have arranged $6,000,000 in permanent financing for a single tenant building occupied by JC Penney in Longmont, CO. The single tenant and below investment grade credit rating of JC Penney created a challenging financing assignment, which the Newmark team marketed to numerous conduit lenders, life insurance companies, banks, and credit unions. Ultimately, the maturing CMBS loan on the property was refinanced by a local credit union that offered a fixed rate solution that featured a 10 year maturity, 25 year amortization, and zero prepayment penalties.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$15,371,500 for 180 Unit Multifamily Property in Chandler, AZ
JULY 7, 2016
CHANDLER, AZ – Newmark Realty Capital, Inc. has arranged acquisition financing in the amount $15,371,500 secured by a 180 unit multifamily property located in Chandler, AZ. The property was originally built in 1986 and recently received some improvements. The new buyer intends to make additional improvements to the property which will help them increase rental rates.
Adam Parker, Principal, arranged the permanent financing through a regional bank. Newmark was hired to source a maximum leverage acquisition loan with a low interest rate and flexible prepayment penalty. In addition, Mr. Parker sourced a lender that offered a loan with three years of interest only payments, which allows the increased cash flow to be spent on making improvements during the first three years of the loan.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services $9 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In addition to other income property types, Newmark has extensive multifamily experience providing financing for construction, lease-up, and stabilized projects.
$43,800,000 for Three Class “A” Multifamily Properties in Nashville, TN
JULY 5, 2016
NASHVILLE, TN – Newmark Realty Capital, Inc. has arranged $43,800,000 in permanent financing secured by Opus 29, Opus 31 and Note 16, three class “A” multifamily properties totaling 305 units in Nashville.
George Mitsanas, Principal, Mike Taylor, Principal, Chris Funai, Vice President, Patrick Taylor, Associate, and Josh Natker, Associate arranged the fixed-rate, non-recourse financing for the borrower. The 10-year loans were placed with one of Newmark’s correspondent life insurance company lenders using general account funds and provides for interest-only for two years for each loan, followed by a 30 year amortization. There was an immediate funding of $32,500,000 with a forward component of $11,300,000.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services $9 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In addition to other income property types, Newmark has extensive multifamily experience providing financing for construction, lease-up, and stabilized projects.
$40,000,000 for 268 Unit Apartment in Seattle, WA
JUNE 24, 2016
SEATTLE, WA – Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $40,000,000 for a 2009 construction, 268-unit apartment complex with 43,000 square feet of ground floor retail in the Ballard neighborhood of Seattle. The ground floor retail consists of a 42,000 square foot grocery store and another small retail tenant.
George Mitsanas, Principal, in Newmark’s Los Angeles office, and Mike Taylor, Principal, in Newmark’s Seattle office, arranged the fixed-rate, non-recourse financing for the borrower. Newmark has financed this property once before. The 10 year loan provides for interest only for the entire term. Newmark will also service the loan.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $9 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$4,100,000 for 107 Pad Mobile Home Park in Glendale, AZ
JUNE 22, 2016
PHOENIX, AZ – Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $4,100,000 for a 107 pad Mobile Home Park community. The property is situated on 9.6 acres for an average of approximately 11.1 units per acre.
Patrick Barkley, Principal, Chad Metzger, Associate Vice President and Jesse Flagg, Associate, arranged permanent financing through one of Newmark’s correspondent relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $9 billion representing over 1,100 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
$10,200,000 for Lincoln Heights Retail Center in Spokane, WA
$38,000,000 for Class A, Single Tenant Office in San Francisco, CA
JUNE 2, 2016
SAN FRANCISCO, CA – Newmark Realty Capital, Inc. has arranged $38,000,000 in permanent financing for 85 Bluxome, a 57,000 square foot Class A office building leased exclusively to Collective Health. Mark Ritchie and Jeff Wilcox, Principals, along with Charlie Kokernak and Armen Hadjimanoukian, Associates, from Newmark’s Los Angeles and San Francisco offices, arranged the financing. Completed in early 2016, the building features a 360 degree roof deck and both Delos WELL and LEED Gold certification. Located in the heart of the Central SoMa submarket, the asset is the first of many new developments slated for construction along Bluxome Street including TMG’s 501 Brannan development.
“Our team placed the construction financing for this project in 2014 and was very pleased to place the permanent debt this year. It feels great to be involved with a project from start to finish. 85 Bluxome is a gem of a building and we could not have been happier with the execution.”
Jeff Wilcox, Principal with Newmark Realty Capital.
The 10-year, interest-only loan was placed with one of Newmark’s CMBS servicing relationships.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $9 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Mark Ritchie at (310) 846-5303, Jeff Wilcox at (415) 946-6239 or Michael Heagerty at (415) 956-9854.
$44,276,000 for 206-Unit, Class A Multifamily in Seattle, WA
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$4,670,000 for 50-Unit Multifamily in Phoenix, AZ
Newmark Realty Capital, Inc. has arranged financing in the amount $4,670,000 secured by a 50-unit multifamily property located in Phoenix, AZ. The property was developed as a luxury townhome community. Its average unit size is 1,370 SF, and all units have a direct-access garage.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged the permanent financing through a regional bank. Newmark was hired to facilitate a cash-out refinance that would significantly lower the owner’s interest rate. At closing, the property was 100% occupied with a waiting list of tenants.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
$22,900,000 for 555 Pacific in Santa Cruz, CA
Working on an exclusive basis, Robert Slatt, Jeff Wilcox and Charlie Kokernak of Newmark Realty Capital have arranged $22,900,000 in construction financing for 555 Pacific, a ground up mixed-use development in Santa Cruz, CA. The financing was structured as a first deed of trust with a lender. The property, currently under construction with an anticipated completion in late 2017, will consist of 94 multifamily units over 4 ground floor commercial spaces. The project is located in a prime location between the Downtown core and shoreline, and will provide ample parking and high visibility to both residential tenants and retail customers. 555 Pacific is the only mixed use residential project currently under construction in the City of Santa Cruz, and upon completion is anticipated to be quickly absorbed given the demand for housing in the county.
“Jeff, Rob, and Charlie sourced financing for 555 Pacific from a wide variety of bank and private lending sources. Their tireless efforts in working with the lender and our various design and contractor teams ensured that we could secure a loan that met our project and company needs.”
-Director of Development, Barry Swenson Builder
Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
For more information on this transaction, please contact Robert Slatt at (415) 946-6246, Jeff Wilcox at (415) 946-6239 or Michael Heagerty at (415) 956-9854.
$ for Kuakini Self Storage in Kona, HI
Newmark Realty Capital, Inc. arranged the refinancing for Power Kuakini Self Storage with a fixed rate loan. The property consists of 620 storage units. The operation is managed by SKS Management, a top tier self-storage management company. Newmark arranged a loan that allowed the borrower to lock in a low rate six months prior to the open prepayment window for its maturing loan. The lender is an insurance company that uses Newmark Realty Capital as its loan correspondent. This type of forward rate lock was especially beneficial in times of interest rate volatility. Newmark will be servicing this loan on behalf of the lender; this role provides the borrower a constant servicing relationship with a mortgage banking firm that has built an expertise in the self-storage industry.
The strength of this transaction was based on strong location, sponsorship, excellent property management and modest leverage. The origination team at Newmark consisted of Eric Von Berg, Principal, and Tom Dao, Associate, who provided certainty of execution through a smooth underwriting, due diligence and closing process.
“Tom and Eric provided a seamless process from origination to loan closing, and gave us the confidence that we could complete this refinancing in this environment of interest rate volatility. With the new loan, we were able to avoid impounds, bank charges, and improved our cash flow significantly,” – Susan Matthews, Managing Partner.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$2,764,500 for Avante Pointe in Phoenix, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,764,500 secured by a 76 unit multi-family property located in Phoenix, AZ. The property was originally built in 1976 and is currently 100% leased.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged the permanent financing through a regional bank. Newmark was hired to secure a maximum leverage loan for the borrower who wanted to recoup equity that they had recently spent buying the subject property all-cash. Mr. Parker and Mr. Metzger closed the loan in 42 days as the borrower wanted to close quickly.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing approximately 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.
For more information on this transaction, please contact Adam Parker at 602-354-5275 or Michael Heagerty at 415-956-9854
$2,925,000 for Fiesta Square in Mesa, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,925,000 for a 27,549 SF multi-tenant, retail building. The property is currently 91% leased and is located in the redeveloping Fiesta District of Mesa, AZ.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged the permanent financing through a Regional Bank. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services just under $9 billion representing 1,100 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Adam Parker at 602-354-5275 or Michael Heagerty at 415-956-9854
$53,500,000 for Scottsdale Fiesta in Scottsdale, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $53,500,000 for a 494,000 square foot retail center known as Scottsdale Fiesta. Located off Loop 101 at Shea Boulevard, the Fry’s Signature and Home Depot anchored center features a strong lineup of national and credit retail tenants. According to local retail brokers, Scottsdale Fiesta is one of the top retail centers in Arizona.
Mark Ritchie, Adam Parker, Principals, Amit Tyagi, Vice President, and Armen Hadjimanoukian, Associate, from Newmark’s Los Angeles and Phoenix offices, arranged the fixed-rate, non-recourse financing for the borrower. The 12-year term, 30-year amortization loan was placed with one of Newmark’s correspondent life insurance company lenders.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $9 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Mark Ritchie at (310) 846-5303, Adam Parker at (602) 354-5275 or Michael Heagerty at (415) 956-9854.
$8,050,000 for Single Tenant Retail Building in Avondale, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $8,050,000 for a 58,300 SF single-tenant, special-use retail building. The property is situated on ~6.90 acres and is the first property constructed of a 43-Acre mixed-use project. The building is 100% occupied by a family entertainment center called Main Event.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, arranged the permanent financing through one of Newmark’s correspondent relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services just under $9 billion representing 1,100 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Adam Parker at 602-354-5275 or Michael Heagerty at 415-956-9854.
$14,600,000 for Manufactured Home Community in Mesa, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $14,600,000 for a 400+ site manufactured home community. Patrick Barkley, Principal and Chad Metzger, Associate Vice President arranged the fixed-rate financing for the borrower through one of its existing CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$18,250,000 for Mixed Use Retail & Office in Tucson, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $18,250,000 for a mixed-use specialty center that consists of four separate buildings, located around a beautiful central courtyard. The property is designed with approximately 40,000 square feet of office space, two restaurants, and approximately 24,000 square feet of ground-floor retail space. The subject is situated on 7.88 acres of land, built in 2006, and is 100% occupied.
Patrick Barkley, Principal and Chad Metzger, Associate Vice President arranged the interest only financing through one of its existing CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$8,000,000 for Self Storage Facility in Folsom, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $8,000,000 for a Self-Storage facility that consists of nine, one-story, concrete block storage buildings containing approximately 685 self-storage units. In addition, the subject includes 251 open storage spaces for RV’s, boats, etc. The subject was constructed in 1999 and is located on approximately 11.2 acres.
Patrick Barkley, Principal and Chad Metzger, Associate Vice President arranged the interest only financing through one of its existing CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$10,075,000 for Manufactured Home Community in Apache Junction, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $10,075,000 for a 170+ pad manufactured home community. Patrick Barkley, Principal and Chad Metzger, Associate Vice President arranged the interest-only financing with one of its existing CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$4,550,000 for Apartment Complex in Phoenix, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $4,550,000 for a 170+ unit, garden style apartment complex. The subject has an excellent location and features a heated swimming pool, spa, two laundry facilities, controlled access gates, clubhouse, putting green, and full covered parking.
Patrick Barkley, Principal and Chad Metzger, Associate Vice President arranged the fixed rate loan through one of its existing agency relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$21,000,000 for Park Model – RV Resort in Apache Junction, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $21,000,000 for a Park Model/RV Resort with over 650 pads. A majority of the pads are occupied on a year round basis by park-model units. The remaining pads offer seasonable RV users flexible lease terms.
Patrick Barkley, Principal and Chad Metzger, Associate Vice President arranged the financing through one of its existing CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$11,606,250 for Office & Retail in Park City, UT
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $11,606,250 for a six building office and retail property in Park City, Utah. Patrick Barkley, Principal and Chad Metzger, Associate Vice President arranged the financing through one of its existing CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$20,000,000 for Class “A” Apartment Complex in Phoenix, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $20,000,000 for a 216-unit class “A” apartment community. The property is situated on 9.34 acres for an average of approximately 23.1 units per acre. There is approximately 225,220 square feet of rental area with an average unit size of 1,043 square feet.
Tim Storey, Principal, and Chad Metzger, Associate Vice President, arranged permanent financing through one of Newmark’s correspondent relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services just under $9 billion representing 1100 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Tim Storey at 602-374-7854 or Michael Heagerty at 415-956-9854.
$8,000,000 for Creative Office Building in Los Angeles, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $8,000,000 for an 87,283 square foot creative office building located in downtown Los Angeles. The subject property is arguably in the best location in Los Angeles. New residential lofts, restaurants, bars, and retail are on the same block as the subject property. This building is in the heart of the “Restaurant Row” of downtown Los Angeles, located directly across the street from Bottega Louie Restaurant and around the corner from the new Whole Foods. The property has been converted to a creative office and has attracted a diverse group of tenants, all while keeping great synergy in the building.
Andy Bratt, Vice President, in Newmark’s Orange County office, arranged the fixed-rate, non-recourse financing for the borrower. The 10 year loan was placed with one of Newmark’s correspondent life insurance company lenders and provides for 10 year fixed financing with 10 years of interest-only.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $9 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Andy Bratt at (949) 356-6678 abratt@newmarkrealtycapital.com or Michael Heagerty at (415) 956-9854.
$65,000,000 for CHP Headquarters in Sacramento, CA
Newmark Realty Capital, Inc. has arranged $65,000,000 in permanent financing for a 284,000 square foot, single tenant office complex located in Sacramento, CA. George Mitsanas, Fritz Grim, and Armen Hadjimanoukian, arranged the non-recourse, fixed-rate, term loan with one of Newmark’s correspondent life insurance company lenders.
The recently renovated property is leased to the State of California and serves as the headquarters for the California Highway Patrol. “Newmark has closed approximately $2.0 billion of Federal and State leased buildings. We were able to create a unique and secure loan structure which met both borrower and lender’s financing requirements”, said Grim.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services nearly $9 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, Fritz Grim (310) 846-5302 or Michael Heagerty at (415) 956-9854.
$6,082,500 for Multi-Family Property in Wenatchee, WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $6,082,500 secured by a 9 acre multi-family property located in Wenatchee, WA. Demetri Koston, Vice President for Newmark Realty Capital in Washington, worked on behalf of the borrower to arrange the non-recourse loan.
The property is improved with 20 single-story buildings housing 112 individual apartment residences in a campus style setting. The property is located in central Wenatchee, a city known as the “apple capital of the world”. Newmark was hired on an exclusive basis to secure the most competitive terms available to refinance the existing debt plus transaction costs, and provide additional funds to address deferred maintenance. The full leverage loan also includes a two year period of “interest-only”. Newmark coordinated all aspects of the transaction and the loan was ultimately placed with one of Newmark’s correspondent lending relationships.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.
$3,500,000 for Siempre Viva Business Park in San Diego, CA
Newmark Realty Capital, Inc. has arranged financing for Siempre Viva Business Park, a 104,000 square foot warehouse situated on a 5.55 acre parcel in the Otay Mesa area of San Diego. Tom Dudley, Principal in Newmark’s Orange County office, and Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower, a San Diego based investor. The lender is a Newmark correspondent life insurance company. Newmark will be the loan servicer. The lender locked the loan’s interest rate upon receipt of a signed loan application from the borrower which eliminated the borrower’s risk of interest rates rising during the loan process. All other terms and conditions were not disclosed. The subject is located in the heart of Otay Mesa, one of San Diego’s largest industrial submarkets, which is located just 18 miles from downtown and totals 15 million square feet of product. The Otay Mesa Port of Entry is the gateway to Mexico and is California’s largest commercial land border port and one of the busiest commercial land border crossings in the United States. With Phase II of the new Interstate 905 completed in 2011 and the acquisition of State Route 125 by SANDAG, access to Otay Mesa from Interstate 5, 8 and 805 has improved dramatically. Newmark Realty Capital, Inc. is a full service commercial real estate mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $9 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Jamie Dick at (858) 793-8400, or Michael Heagerty at (415) 956-9854.
$8,500,000 for Regal Plaza in Spokane, WA
Demetri Koston, Vice President of Newmark Realty Capital, Inc.’s Spokane, WA office has arranged permanent financing secured by Regal Plaza, a newly constructed multi-tenant retail center in Spokane, WA. The $8,500,000 loan has a fixed-rate term that fully amortizes over the 20 year period of the loan. The loan was placed with one of Newmark’s life insurance company lenders. The retail center is fully leased and anchored by a new Target, which opened in July 2014 (not part of security). The center is located on the South Hill of Spokane, one of the most highly coveted submarkets in the Inland Northwest. The center has a complimentary mix of tenants including PetSmart, Anthony’s Beach Café, MOD Pizza, Numerica Credit Union, and others. Newmark was able to place the permanent loan and lock the rate while the center was still under construction and in lease-up. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Demetri Koston at (509) 720-6364, or Michael Heagerty at (415) 956-9854.
$10,000,000 for The North Canyon Business Center in Livermore, CA
Newmark Realty Capital, Inc. has arranged the refinancing for North Canyon Business Center, a 105,821 square foot multi-tenant flex industrial business center situated on approximately 7.89 acres in Livermore, California. Mitch Zeemont, Principal in Newmark’s San Francisco office, assisted by Production Associate Stephen Scarpulla, arranged the financing for the borrower, a Pleasanton based, family run real estate investment company with Lincoln Financial Group. All other terms and conditions were not disclosed. The subject property is located in the City of Livermore, located on the eastern edge of California’s San Francisco Bay Area, with a population of over 81,000 people. The Livermore Valley is located about 30 miles east of and behind the first coastal range of mountains that surround the San Francisco Bay Area. Livermore is considered part of the Tri-Valley area, including Amador, Livermore and San Ramon, all of which are part of Alameda County. The property is located near I-580, a crucial artery that facilitates commerce and traffic from the San Francisco Bay Area to Central California. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Mitch Zeemont at (415) 956-9885, or Michael Heagerty at (415) 956-9854.
$8,800,000 for Savers Anchored Retail Center in Scottsdale, AZ
Newmark Realty Capital, Inc. has arranged acquisition financing for Northsight Village, a 88,031 square foot Savers anchored shopping center situated on approximately 8.957 acres in Scottsdale, Arizona. Tim Storey, Principal in Newmark’s Phoenix office, and Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associates Jay Dick and Chad Metzger, arranged the financing for the borrower, a Phoenix based real estate investment firm. The lender is a New York based lender. All other terms and conditions were not disclosed. The property is located in the Scottsdale Airpark, which is Arizona’s second largest employment center. The area includes the Scottsdale Airport, WestWorld, TPC Golf Course, Scottsdale Quarter, Perimeter Center, Scottsdale Promenade. It is home to over 55,000 employees, 2,600 businesses and 23,000,000 square feet of office space and is expected to continue growing by over 3,000 employees per year. Many important companies are headquartered or have regional headquarters in the park, including AXA, GE Capital, DHL, Discount Tire Company, Fidelity Investments, JDA Software, GoDaddy.com, and The Vanguard Group. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Tim Storey at (602) 374-7854, Jamie Dick at (858) 793-8400, or Michael Heagerty at (415) 956-9854.
$2,173,000 for Acquisition Financing For Office Condo in San Francisco, CA
Newmark Realty Capital, Inc. arranged the acquisition financing for 733 Front Street, Unit C-2, with a fixed rate loan from one of Newmark’s correspondent lenders. 733 Front Street, Unit C-2, is an office condo located on the first floor of the 7-story residential condominium building. The lender is an insurance company entity that uses Newmark Realty Capital as its lending correspondent. This correspondent relationship allows Newmark to underwrite the loan and manage the closing process, providing the buyer, seller and sale-brokers certainty of execution. Newmark will service this loan on behalf of the lender; this role provides the borrower a constant servicing relationship. The origination team at Newmark consisted of Eric Von Berg, Principal, and Tom Dao, Associate, both of whom oversaw the underwriting, due diligence, and closing process. Certainty of execution on financing is key for any acquisition like this, where a buyer is competing against all-cash offers. Tim Maas, the listing broker and Executive Vice President of Colliers International Investment Services Group commented, “Tom provided a seamless acquisition loan process, and was a key part of this smooth transaction.” Representing the buyer was the firm Kidder Mathews, which included Rico Cheung, Partner, Eric Bluestein, Senior Vice President, and Marty Church, Senior Vice President. “Tom delivered, as promised,” they agreed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$6,100,000 for Two Multi-Family Properties in Spokane, WA
Newmark Realty Capital, Inc. has arranged acquisition financing in the amount of $6,100,000, secured by two multi-family properties with 148 units located in Spokane, WA. Demetri Koston, Vice President for Newmark Realty Capital in Washington, worked on behalf of the borrower to arrange the two non-recourse loans. The two properties are identified as Chateaux Apartments and Randolph Arms, both in Spokane. Both properties are uniquely located; Chateaux is near downtown, Riverside Park, and Gonzaga University, while Randolph is adjacent to Spokane Community College. Both locations offer simple access to a variety of local amenities. Further, both properties have unique history; Chateaux was built at the time of Expo ’74, while Randolph was converted from a military housing facility many years ago. Working on an exclusive basis, Newmark provided several competitive options to the borrower. Final loan placement was with one of Newmark’s correspondent lending relationships. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854
$75,000,000 for Mixed-Use Property in Seattle, WA
Newmark Realty Capital arranged combination construction and permanent financing in the amount of $75,000,000 for the Stack House Apartments and Supply Laundry Building located in Seattle, Washington. The project is a mixed-use apartment community with 278 apartment units and approximately 35,000 square feet of commercial space plus structured underground parking located on a full city block in the emerging South Lake Union neighborhood. The project received LEED platinum certification at completion. Michael Taylor and Patrick Taylor, of Newmark’s Seattle office, arranged the financing for the property owner, Vulcan Real Estate, through State Farm Life Insurance Company, one of Newmark’s correspondent lenders. “The developer was looking to take advantage of the interest rate environment and lock up the financing for both the construction and the permanent loan up front” said Mike Taylor of Newmark, “and State Farm was able to accommodate that request at very attractive loan terms.” At completion in early 2015 the project was sold for $151million and the buyer assumed the existing loan. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Michael Taylor at (206) 816-6816 or Patrick Taylor at (206) 816-6808
$36,000,000 for Wells Fargo Office Building in Tacoma, WA
Newmark Realty Capital, Inc. has arranged financing in the amount of $36,000,000 for the Wells Fargo Plaza Office Building located in Tacoma, Washington. Wells Fargo Plaza is a Class-A, 308,000 square foot, LEED®-EB Silver, 25-story office building located in downtown Tacoma. Owned by Unico Properties LLC, a real estate investment and operating company, the building was 98% leased and anchored by Wells Fargo Bank, Tacoma’s leading law firms, Gordon Thomas Honeywell and Eisenhower & Carlson and a number of national and regional tenants including Merrill Lynch and Bratrud Middleton (Now “Propel”) Insurance. Michael Taylor, a Principal in Newmark’s Seattle office arranged the financing for Wells Fargo Plaza to replace the maturing loan that he had placed for Unico Properties ten years earlier. Due to the quality of the asset, the strength of the sponsorship and the modest leverage request the ownership was able to secure very competitive terms for the financing. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Michael Taylor at (206) 816-6816, Patrick Taylor at (206) 816-6808 or Michael Heagerty at (415) 956-9854.
$25,000,000 for Two Mid-Rise Office Buildings in San Francisco, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $25,000,000 for two mid-rise office buildings totaling 102,028 square feet in the North Waterfront area of downtown San Francisco. Both buildings were extensively renovated by the borrower in 1999. Tenants include a publisher of educational materials as well as technology tenants. George Mitsanas, Principal, and Doug Tisdale, Associate, in Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower, a San Francisco based developer. George Mitsanas has financed this property for the borrower once before. The 15-year loan was placed with one of Newmark’s correspondent life insurance company lenders. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$Confidential for SOMA Self Storage in San Francisco, CA
Newmark Realty Capital, Inc. arranged the refinancing for SOMA Self Storage with a fixed rate loan. SOMA Self Storage is a best-in-class, self-storage facility. The property consists of 1,288 storage units, in a 7-story tower with a basement. The operation is managed by SKS Management, a top tier self-storage management company. SOMA Storage locked in a low rate in January 2015, and closed the refinancing loan on May 1st, when its maturing loan was open for prepayment. The lender was an insurance-company lender that uses Newmark Realty Capital as its loan correspondent. This type of forward rate lock was especially beneficial in times of interest rate volatility. Newmark will be servicing this loan on behalf of the lender; this role provides the borrower a constant servicing relationship with a mortgage banking firm who has built an expertise in the self-storage industry.
The strength of this transaction was based on strong location, sponsorship, performance and excellent property management. The origination team at Newmark consisted of Eric Von Berg, Principal, and Tom Dao, Associate, who provided certainty of execution through a smooth underwriting, due diligence and closing process. “Tom and Eric were instrumental in helping us take advantage of favorable market conditions to refinance our property with a terrific lender at very attractive terms. We were very happy with the loan process,” commented Alastair Mactaggart, general partner of SOMA Self Storage and a Principal at Emerald Fund. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$12,000,000 for Multi Family Property in Spokane, WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $12,000,000 secured by a 62 acre multi-family property located in Spokane, WA. Skip Slavin and Demetri Koston, Vice Presidents for Newmark Realty Capital in Washington, worked on behalf of the borrower to arrange the non-recourse loan. The property is improved with a subdivision of homes and duplexes, all located within 10 minutes from downtown Spokane. The location offers residents a suburban environment with simple access to urban amenities nearby. However, the unique layout and history of the property required some significant structure in the loan terms. Newmark helped arrange a loan structure to help lenders get comfortable without losing the long term objectives required by the borrower. Ultimately, final placement was with one of Newmark’s correspondent lending relationships. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Skip Slavin at 206-816-6814 or Michael Heagerty at 415-956-9854
$5,200,000 for Neighborhood Retail Center in Mesa, AZ
Newmark Realty Capital, Inc. has arranged acquisition financing in the amount of $5,200,000 for an 80,800 square foot neighborhood retail center located in Mesa, Arizona. Constructed in the early to mid-1980’s, the property enjoys excellent access and visibility along two major thoroughfares in the East Valley. Upon acquisition, the borrower has plans to significantly renovate the center by improving the exterior, roof and parking lot. Timothy W. Storey, Principal in the Phoenix office, along with James M. Dick, Vice President of Newmark’s San Diego office, and Production Associates, Chad Metzger and Jay Dick, arranged the acquisition bridge loan for the borrower. The 36-month loan was placed with one of Newmark’s existing bridge lending relationships. All other terms and conditions of the loan were not disclosed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact Tim Storey at 602-374-7854, Jamie Dick at 858-793-8400 or Michael Heagerty at 415-956-9854.
$12,500,000 for Newly Constructed Medical Office in Los Alamitos, CA
Newmark Realty Capital, Inc. has arranged the financing of Los Alamitos Medical Plaza, a three-story, 70,000 square foot multi-tenant medical office building located on the campus of Los Alamitos Medical Center in Los Alamitos, CA. Mark Ritchie, Principal in the Los Angeles office, along with Jamie Dick, Vice President of Newmark’s San Diego office, and assisted by Production Associate Jay Dick, arranged the refinancing for the borrower, a private medical office building developer and operator. The lender is a Newmark correspondent life insurance company. All other terms and conditions were not disclosed. In addition to attractive loan terms, Newmark’s client was able to fund at project at the time of the Certificate of Occupancy. At closing, Los Alamitos Medical Plaza was 68% leased. The combination of a low loan-to-value loan, a high quality asset and excellent track record of the owner with medical office buildings provided comfort to the lender to fund the loan prior to the property being full stabilized. The project is Phase I of the hospital’s master plan, a part of an integrated medical campus. When complete, the plan will include a 167-bed acute care facility, three medical office buildings and the Total Care Pavilion, home to the area’s cancer, imaging and infusion services. Phase II of the master plan will include a new 92-bed patient care building plus expanded services. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Mark Ritchie at (310) 846-5303, Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$4,800,000 for Office Property in Spokane, WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $4,800,000 secured by a beautiful, historic, multi-tenant office property located in Spokane, WA. Demetri Koston and Skip Slavin, Vice Presidents for Newmark Realty Capital in Washington, worked on behalf of the borrower to arrange the 15-year term. The property is ideally located in the vibrant University District along the Spokane River near downtown. Initially built as a brewery, the historic property offers tenants a unique experience in one of the most progressive locations in the Inland Northwest. Nearby amenities include immediate access to downtown college campuses and businesses, simple ingress/egress, ample parking, sports trails, river access, and much more. Newmark was engaged by the borrower to identify the most competitive non-recourse loan available and secure an attractive long-term fixed rate. Newmark presented several possible options to the borrower for consideration, and final placement was with one of Newmark’s life insurance company lending relationships. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Skip Slavin at 206-816-6814 or Michael Heagerty at 415-956-9854.
$10,600,000 for Class A Office Building in Phoenix, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $10,600,000 for a two-story, Class “A” office building in Chandler, Arizona. The subject property is a multi-tenant LEED office building totaling 68,400 square feet located within a 70-acre master planned development. The newly acquired building was 100% occupied by a mix of high quality tenants and located near four major freeways that transverse the East Valley. George Mitsanas, Principal, Tim Storey, Principal, and Chad Metzger, Associate Vice President, arranged the fixed-rate, non-recourse financing for the borrower. Newmark arranged the 10 year loan through one of its existing CMBS relationships. Specific terms of the loan were not disclosed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact George Mitsanas at 310-846-5299, Tim Storey at 602-374-7854 or Michael Heagerty at 415-956-9854.
$64,000,000 for Portfolio of Four Retail Properties in Seattle , WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $64,000,000 for a four property portfolio in the greater Seattle area. The transaction includes acquisition financing for a 49,000 SF shopping center in Bellevue, anchored by Walgreens and Trader Joe’s, the refinancing of Mill Creek Town Center, a 182,000 SF grocer anchored lifestyle center in Mill Creek, and two retail properties located in Kirkland and Bellevue. Mike Taylor, Principal, and Patrick Taylor, Associate Vice President, in Newmark’s Seattle office arranged financing for the borrower. The financing consists of fully amortizing, cross collateralized loans which were placed with one of Newmark’s correspondent life insurance company relationships. All other terms and conditions of the loan were not disclosed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact Mike Taylor at 206-816-6816 or Michael Heagerty at 415-956-9854.
$125,000,000 for 28-Story, Class-A, Trophy Office Tower in Century City, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $125,000,000 for a 28-story, 596,856 square foot Class A office tower in Century City. Constructed in 1969, the property is a trophy asset with a strong line-up of F.I.R.E. (Finance, Insurance, Real Estate) and legal tenants. George Mitsanas, Principal, and Doug Tisdale, Associate, in Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower. George Mitsanas has financed this property for the borrower twice before. The 10-year loan was placed with one of Newmark’s correspondent life insurance company lenders and provides for interest-only for the entire loan term. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$99,488,000 for Veteran Affairs Health Care Center in Los Angeles, CA
George Mitsanas, Principal, Peter Hillakas, Vice President, and Michelle Hsieh, Associate, of Newmark Realty Capital, Inc.’s Los Angeles office along with Mesirow Financial, have arranged the construction to permanent financing for the Monterey VA Health Care Center located in Marina, California, in the former Fort Ord military base. The non-recourse, fixed rate loan totals $99,488,000 and will amortize over a 20-year term. Newmark will service this loan for its life company correspondent lender. The planned LEED Certified, 141,000 SF health care center is currently under construction and will be completed in the Fall of 2015. Veteran Affairs will occupy the majority of the building, with the remaining space occupied by the Department of Defense, for 20 fixed years. The center will provide primary and specialty care and serve tens of thousands of patients in the surrounding area. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact George Mitsanas at (310) 846-5299, or Michael Heagerty at (415) 956-9854.
$15,500,000 for Verizon Wireless Call Center in San Diego, CA
Newmark Realty Capital, Inc. has arranged the refinancing of a Verizon Wireless Call Center located in Chandler, Arizona. The property consists of a 170,647 square foot, two-story tilt-up building located in Chandler, Arizona. Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associate Jay Dick, arranged the refinancing for the borrower, a private investment company in Southern California. The lender is an east coast based institutional lender. All other terms and conditions were not disclosed. Chandler is located in Maricopa County, Arizona, which is a prominent suburb of the Phoenix Metropolitan Statistical Area. It is bordered to the north and west by Tempe, to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community, and to the east by Gilbert. As of July 2012, the population was 240,101 according to the United States Census Bureau. Computer chip manufacturer Intel has had an influential role in city growth strategies with four locations in the municipal area, including its first factory to be designated “environmentally sustainable” under current Leadership in Energy and Environmental Design (LEED) criteria. Other high-technology manufacturing firms have partnerships with the local government, with their operations employing approximately twenty-five percent of non-government workers in 2007. Since the early 1990s, the City of Chandler has experienced exponential growth, ranking among the fastest-growing municipalities in the country. Indeed, nearly 100,000 homes dot the landscape today and the population has surged to more than 238,000 residents. The heart of Chandler remains its revitalized historic downtown, which includes the award-winning Chandler City Hall and a Center for the Arts. In 2010, Chandler was named as an All-America City, bestowed by the National Civic League. In 2012, the City celebrated its 100th Birthday. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$12,100,000 for Prime Retail Assets in Los Angeles, CA
George Mitsanas, Principal, and Michelle Hsieh, Associate, of Newmark Realty Capital, Inc.’s Los Angeles office, have arranged two loans to refinance 44,336 SF of premier retail space in the neighborhoods of Brentwood and Westwood in Los Angeles, California. Both low levered loans were locked at a fixed rate, are non-recourse, and placed on a 10-year term- one being interest only, the other being on a 30-year amortization schedule. The refinancing replaced debt that was originally arranged by Mr. Mitsanas. Both loans were placed with one of Newmark’s correspondent lenders and will be serviced by Newmark. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders that utilize Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact George Mitsanas at (310) 846-5299, or Michael Heagerty at (415) 956-9854.
$38,600,000 for Office Building in Palo Alto, CA
Newmark Realty Capital, Inc. arranged financing in the amount of $38.6 million ($850/sf) for Menlo Equities on a 45,319 square foot Palo Alto office building that was converted to an internet exchange. The property is strategically located in downtown Palo Alto, a critical nexus at the heart of Silicon Valley. The loan terms are 10-year, fixed rate, amortized over a 30-year schedule after a five and one-half year interest-only period. The loan is non-recourse. Eric Von Berg, Principal, and Tom Dao, Associate, at Newmark Realty Capital, sourced the loan through Wells Fargo’s CMBS program. “We were pleased with the execution on this financing.” Said Kevin Kujawski, CFO for Menlo Equities. “For several reasons, this financing needed to go the conduit route. Newmark was able to offer several CMBS choices, where Newmark retains the Primary Servicing roll for the life of the loan. That was important to us. The loan was placed quickly and the closing went very smoothly.” Newmark Realty Capital as Primary Servicer is working through Wells Fargo as the Master Servicer. In this type of servicing arrangement, Newmark performs all of the functions they perform for their life insurance servicing clients; holding and releasing escrows, reviewing new leases, making routine property inspection, conduction tax and insurance reviews, etc. As Primary Servicer, Newmark remains the borrower’s principal point of contact with Newmark working with the Master and Special servicer on unusual items that require higher levels of approval. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 900+ loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854. By Joe Gose A $38.6 million conduit refinancing of 529 Bryant St. in Palo Alto that provided owner Menlo Equities the opportunity to take a long-term position in a coveted downtown property represents a harbinger of the commercial real estate lending environment. Not only does it signal the willingness of commercial mortgage-backed securities (CMBS) lenders to more aggressively go after deals, but it also highlights an effort to improve loan servicing, which has largely been a source of angst among borrowers that have tapped CMBS debt over time. Palo Alto-based Menlo Equities, in fact, wanted to secure a loan from a portfolio lender such as a life insurance company due to its past experiences with CMBS loans and servicers, said Eric Von Berg, a principal in the San Francisco office of mortgage banker Newmark Realty Capital, Inc., which facilitated the CMBS loan through Wells Fargo Bank. Yet given the pricey neighborhood, it became apparent that a conduit loan was the best option available for the company, which wanted to pay off investors amid its aim to take a long-term stake in the 84-year-old building. The 45,319-square-foot property, also referred to as the Palo Alto Internet Exchange, went through a major renovation a decade ago after becoming an Internet colocation data center and Internet exchange in 1996. While a life insurance company was willing to lend $599 per square foot in proceeds on the property, Von Berg said, it wanted fast amortization to protect its exposure at lease expiration. According to a prospectus filed with theSecurities and Exchange Commission, Redwood City-based colocation and data center provider Equinix, Inc. holds a master lease in the building until May 2025 (and one 10-year extension option) and subleases the space to other tenants. Alternatively, Wells Fargo provided financing totaling $850 per square foot, he said. Additionally, the 10-year loan features a 30-year amortization schedule, a 70.2 percent loan-to-value ratio, a 4.47 percent interest rate and five-anda- half years of interest-only payments. That’s a significant departure from five years ago when CMBS lenders would not consider financing the building, he said. “It’s just night and day how the CMBS world has changed over the last five years,” Von Berg added. “Downtown Palo Alto properties are hard to find, so it made a lot of sense to hold this property for the long term.” Newmark Realty’s intent to assume the role of primary servicer after the loan was bundled and sold with other mortgages also served as a key to locking down the transaction, said Von Berg and Kevin Kujawski, CFO for Menlo Equities, a privately held commercial real estate investor and developer focused on value add properties in technology markets. “Newmark was able to offer several CMBS choices, where Newmark retains the primary servicing role for the life of the loan,” Kujawski said in a statement. “That was important to us.” Newmark Realty has built up its servicing business over the last few years and oversees a servicing portfolio of more than $8 billion. It bills the service as a new business model in which Newmark Realty essentially oversees a CMBS loan from placement to the last loan payment. While other mortgage banks may offer similar services in other parts of the country, Von Berg said that Newmark Realty is virtually the only one providing it in the California, Washington, Nevada and Arizona markets. The primary servicer’s role typically includes reviewing leases, taxes and insurance, conducting annual inspections and handling borrower requests, among other functions. CMBS borrower gripes about servicers in the past have stemmed from the notion that the servicers have often acted more like debt collection agencies and were ill-suited to handle all the moving parts associated with a commercial property, Von Berg said. What’s more, he added, servicers generally land the job by being the lowest bidder and have largely been considered unresponsive to borrower needs. He likened the situation to the buyer of an expensive high-performance sports car that later discovers that warranty work must be done by a cut-rate mechanic—whose primary business might be repossessions—that happened to be the lowest bidder among a pool of similar shops. “So many real estate investors have wrestled with the headaches of dealing with servicers over the life of their loan,” Von Berg said. “The general real estate community found it to be an untenable situation.”
$3,300,000 for A New Grocery Store in Spokane, WA
Demetri Koston, Vice President of Newmark Realty Capital, Inc.’s Spokane, WA office has arranged permanent financing secured by a newly constructed grocery store in Spokane Metro. The $3,300,000 loan has a fixed-rate term of 25 years and the loan fully amortizes over the 25 year period. The loan was placed with one of Newmark’s life insurance correspondent lenders. The loan will be serviced by Newmark. The property is over 5 acres of land and located on the main highway thru the local submarket known as Suncrest. The new grocery store is full-service and includes a meat and seafood counter, bakery and deli with seating area, fireplace, and wifi. In addition, there is a fuel center, which will be included in the Commercial Fueling Network, or CFN. The new store has hired about 50 new employees from the local area. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Demetri Koston at (509) 720-6364, or Michael Heagerty at (415) 956-9854.
$1,355,000 for 733 Unit Self Storage in Phoenix, AZ
Newmark Realty Capital, Inc. arranged $1,355,000 in financing for a 733 unit self-storage facility in Phoenix. The property was refinanced on behalf of a California based client alongside two other self-storage facilities in California. The portfolio of three self-storage facilities totals 1,995 units, and all properties were refinanced with the same term from one of Newmark’s correspondent insurance company lenders. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Robert Slatt at (415) 946-6246, or Michael Heagerty at (415) 956-9854.
$3,700,000 for 1,124 Unit Self Storage Facility in Bellevue, WA
Brian Bonipart, a Vice President in Newmark’s Seattle office, has arranged a $3,700,000 loan secured by a 1,124 unit self-storage facility in Bellevue, about 10 miles from Seattle. The loan was used to refinance the client’s maturing CMBS loan. The loan featured a 30 year amortization with a declining % prepayment penalty. The borrower’s conservative loan request gave them a wide variety of options. The loan was placed with one of Newmark’s correspondent lending relationships. No additional terms were made available.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Brian Bonipart at (206) 816-6807, or Michael Heagerty at (415) 956-9854.
$22,475,000 for New Multi-Family Units in Spokane Valley, WA
Newmark Realty Capital, Inc. has arranged take-out financing in the amount of $22,475,000 secured by a new multi-family property located in Washington State. Demetri Koston, Vice President for Newmark Realty Capital in Washington, worked on behalf of the borrower to arrange the 12-year term.
The property is well located with high quality construction, which attracted a variety of institutional capital sources. Newmark worked on behalf of the borrower to identify some of the most competitive options available in today’s marketplace. Ultimately, the borrower selected a correspondent lender (of Newmark), and the loan was fully funded immediately upon the property reaching stabilization.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.
$5,900,000 for Lowe’s Ground Lease in Rancho Cucamonga, CA
George Mitsanas, Principal, Braden Turnbull, Principal, and Michelle Hsieh, Associate, of Newmark Realty Capital, Inc.’s Los Angeles office, have arranged the acquisition financing for the fee interest of a Lowe’s ground lease. The $5,900,000, fixed-rate, interest only loan is for a 10-year term and was placed with one of Newmark’s life insurance correspondent lenders. The loan will be serviced by Newmark.
The property is nearly 15 acres of land and located on a main intersection in the city of Rancho Cucamonga, in the Inland Empire of Southern California. Lowe’s has approximately six years remaining on their lease with options to extend. The fee interest is part of a larger center that leases to an Islands, Farmer Boys, and Union Bank.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, or Michael Heagerty at (415) 956-9854.
$123,000,000 for FBI Building in Greater Boston, MA
George Mitsanas, Principal, Peter Hillakas, Vice President, and Michelle Hsieh, Associate, of Newmark Realty Capital, Inc.’s Los Angeles office, have arranged the construction to permanent financing for the FBI Building in Chelsea, Massachusetts in the amount of $123,000,000. The to-be-built LEED Certified, 220,000 SF office building will complete construction in September 2016 and will be fully occupied by the FBI for 20 years. The non-recourse loan was placed with one of Newmark’s correspondent lenders. Servicing will be done by Newmark. Mr. Mitsanas has completed $2B in construction/permanent loans during the past five years.
“Our firm has a tremendous amount of income property lending experience including credit lease transactions. In most cases, we service our loans. The ownership of this FBI development is a joint venture between two very well respected development families located on opposite ends of the nation. Each had their own preferred mortgage banker so for this transaction we teamed up with CTL Capital, LLC for the assignment. Together, we successfully put together the high profile finance for our mutual clients.”
– George Mitsanas, Principal of Newmark
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, or Michael Heagerty at (415) 956-9854.
$19,500,000 for Two Anchored Shopping Centers in San Diego, CA
Newmark Realty Capital, Inc. assisted with the refinancing of two shopping centers, including the coordination of a defeasance process for one of the original loans. The properties consist of a 49,311 square foot Petco anchored shopping center located in the Grantville neighborhood of San Diego, California, and a 96,624 square foot Ralphs Fresh Fare shadow-anchored shopping center located in Indio, California.
Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associate Jay Dick, coordinated the refinancing and defeasance processes for the borrower, a private investor in Southern California. The lender is a national bank. All other terms and conditions were not disclosed.
Grantville is one of the oldest communities in San Diego and the state of California. Mission San Diego de Alcalá was moved in 1774 to what is now the Grantville area. The restored mission is listed on the National Register of Historic Places and is a major landmark and tourist destination in Grantville. Primarily a commercial and light industrial neighborhood, Grantville contains businesses ranging from recording studios to a Home Depot, as well as dozens of small retail business, service firms, and factories. The Kaiser Permanente Hospital and its associated clinics and offices are a major employer. Grantville is home to several craft breweries including San Diego Brewing Company, Benchmark, and Groundswell.
Indio, a city in Riverside County, California, is located in the Coachella Valley. It lies 23 miles east of Palm Springs, 77 miles east of Riverside, and 127 miles east of Los Angeles. Indio is about 98 miles north of Mexicali, Baja California on the U.S.-Mexican border. The two major sectors of the local economy are year-round agriculture and tourism, although the majority of tourist activity is seasonal between October and May. Because of the numerous festivals and special events held annually in Indio, the Chamber of Commerce deemed Indio’s official nickname to be “The City of Festivals.” Indio’s most well-known festivals are the annual Coachella Valley Music and Arts Festival, and the country music oriented Stagecoach Festival.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$300,000,000 for Portfolio of 50 Self-Storages in Various, CA
George Mitsanas, Principal, and Michelle Hsieh, Associate, of Newmark Realty Capital, Inc.’s Los Angeles office have arranged permanent financing in the amount of $300,000,000 (Canadian) for a portfolio of 50 self-storage facilities. The security includes nearly 37,500 storage units, or 3.65M square feet, located in the Canadian provinces of British Columbia, Alberta, Ontario, and Quebec.
The non-recourse loan fully amortizes over a term of 15 years. Newmark originated the financing on an exclusive basis for the borrower, the leading self-storage owner/operator of Canada, with a US-based life insurance company.
“The sponsor founded one of the world’s most prominent self-storage brands. We are proud to have arranged this complex financing structure. The life company lender we selected is among the best in our nation and their team did a first class job in handling all aspects of the transaction. Newmark has significant self-storage experience with a wide variety of owners and capital sources throughout North America.” – George Mitsanas, Principal of Newmark
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $8 billion representing over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, or Michael Heagerty at (415) 956-9854.
$31,000,000 for 280 Unit, Class-A, Luxury Apartment in Northwest Las Vegas, NV
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $31,000,000 for a 280 unit, Class A, luxury apartment community located in northwest Las Vegas in the master-planned community of Summerlin.
George Mitsanas, Principal, and Doug Tisdale, Associate, in Newmark’s Los Angeles office, and Chris Funai, Vice President, in Newmark’s Las Vegas office, arranged the fixed-rate, non-recourse financing for the borrower, a Las Vegas based developer and manager of high-end multi-family properties in the southwestern U.S. The 10 year loan was placed with one of Newmark’s correspondent life insurance company lenders and provides for interest only for the first 2 years followed by a 30 year amortization.
Located in northwest Las Vegas, Summerlin is a 22,500-acre master planned community just 20 minutes from the Las Vegas Strip and McCarran Airport. The master plan’s population is expected to double to 200,000 when fully developed and is expected to have an average household income of $128,000. Summerlin is among the most affluent communities in Nevada.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, Chris Funai at (702) 304-0437 or Michael Heagerty at (415) 956-9854.
$137,500,000 for Office Building in the Financial District in San Francisco, CA
Newmark Realty Capital, Inc. has arranged permanent acquisition financing in the amount of $137,500,000 for a 25-story, 379,328 square foot Class A office tower in the South Financial District of San Francisco. Constructed in 2002 and LEED-Gold certified, the property has a strong line-up of F.I.R.E., legal and technology tenants.
Mark Ritchie and George Mitsanas, Principals in Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower, a large institutional investor. The 12 year loan was placed with one of Newmark’s correspondent life insurance company lenders and provides for interest only for the entire loan term.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Mark Ritchie at (310) 846-5303, George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$28,500,000 for Class A Office Building Construction in San Francisco, CA
Working on an exclusive basis, Mark Ritchie, Jeff Wilcox, Bahman Mirhashemi and Charlie Kokernak of Newmark Realty Capital have arranged $28,500,000 in construction financing for 85 Bluxome, a ground up office development in the SoMa submarket of San Francisco. The financing was structured as a first deed of trust with Washington Capital Management and mezzanine financing with TDA, Inc. The combined facility was non-recourse and represented 70% of total cost. Additional terms of the financing were not disclosed.
85 Bluxome will be a Class A, 55,000 SF office building, a rarity for both its size and class in the SoMa district. The property will feature floor to ceiling windows throughout its front façade which will take advantage of the planned revitalization of Bluxome Street per the Western SoMa Community Plan. The official ground breaking ceremony will be in October with construction completion scheduled for the end of 2015.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jeff Wilcox at (415) 946-6239, Mark Ritchie at (310) 846-5303, Bahman Mirhashemi at (949) 777-9030, or Michael Heagerty at (415) 956-9854.
$15,000,000 for Holiday Inn and Comfort Inn & Suites in Mira Mesa, CA
Newmark Realty Capital, Inc. has arranged financing in the amount of $15,000,000 for the refinance of a 69 room hotel and a 132 room hotel located in Mira Mesa, a suburban community in the San Diego, California.
Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower, a private investor in southern California. The lender is an east coast based institutional lender. All other terms and conditions were not disclosed.
Since its inception, Mira Mesa was largely influenced by the military located at adjacent NAS Miramar. Mira Mesa was the northernmost community of San Diego and was separated from the rest of the city by NAS Miramar for many years. For nearly 30 years the Navy’s Top Gun School was located in Mira Mesa and most of the pilots made their homes in the area. Beginning in the late 1990s the Mira Mesa area has undergone extensive expansion to accommodate the thousands of new residents attracted by its close proximity to major employers like UC San Diego, MCAS Miramar, Qualcomm, and dozens of biotech and pharmaceutical companies. Several commercial and industrial centers have been built within the Mira Mesa area.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$7,100,000 for Staples Anchored Shopping Center in Kent, WA
Newmark Realty Capital, Inc. has arranged financing in the amount of $7,100,000 for the refinance of a 47,062 square foot Staples anchored shopping center located in Kent, Washington, a suburban community in the Seattle-Tacoma metropolitan area. The center is comprised of three separate buildings housing 15 tenant suites.
Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower, a private investor in southern California. The lender is an east coast based CMBS lender, which agreed to a 10 year, fixed-rate loan with 4 years of interest only payments. Other terms and conditions were not disclosed.
Kent is in the heart of the Seattle-Tacoma metropolitan area, situated 19 miles south of Seattle and 19 miles northeast of Tacoma. Nearby cities include Renton and Tukwila to the north, Covington and Maple Valley to the east, Auburn to the south, and Federal Way, Des Moines and SeaTac to the west.
Once a thriving agricultural area, Kent is now home to hundreds of companies. Among the many corporations headquartered in Kent are REI (Recreational Equipment Inc.), Oberto Sausage Company (a leading nationwide beef jerky manufacturer), and the two largest water-jet companies in the United States: Flow International Corporation and Omax Corporation.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$75,500,000 for Skypark Office and Medical Center in Torrance, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $75,500,000 for the refinance of Skypark Office and Medical Center located adjacent to Torrance Memorial Medical Center in Torrance, CA.
Braden Turnbull, Principal, George Mitsanas, Principal, and Amit Tyagi, Associate, of Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower, a major Los Angeles-based owner/developer/operator of primarily office properties. The 15 year loan, with a 25 year amortization, was placed with one of Newmark’s correspondent life insurance company lenders. The loan will be serviced by Newmark. According to George Mitsanas, “Sky Park has evolved into one of the South Bay’s premier addresses for medical office use. The campus is walking distance from Torrance Memorial Hospital and a few minutes by car from Little Company of Mary Hospital.”
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $8 billion representing over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Braden Turnbull at (310) 846-5301, George Mitsanas at (310) 846-5299, or Michael Heagerty at (415) 956-9854.
$17,000,000 for Hotel Hospitality Financing in Tucson, AZ
Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $17,000,000 for an Embassy Suites located in Tucson, AZ.
Patrick Barkley, a Principal of Newmark along with Associate Vice President, Chad Metzger, arranged the financing on behalf of one of its CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $8 billion representing over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Patrick Barkley at (602) 374-7806, Chad Metzger at (602) 374-7268, or Michael Heagerty at (415) 956-9854.
$31,200,000 for Hotel Financing in Tucson, AZ
Patrick Barkley, a Principal along with Associate Chad Metzger in Newmark’s Phoenix office, have arranged permant financing totaling $31,238,300 for a 295-room DoubleTree Hotel located near Reid Park in Tucson, AZ. The hotel is strategically located in the center of Tucson and occupies approximately 12 acres of land. The financing was arranged on behalf of one of its CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $8 billion representing over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Patrick Barkley at (602) 374-7806, Chad Metzger at (602) 374-7268, or Michael Heagerty at (415) 956-9854.
$26,500,000 for Hotel Hospitality Financing in Phoenix, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $26,500,000 for an Embassy Suites Hotel in Phoenix, AZ. Patrick Barkley, a Principal of Newmark located in the Phoenix office, arranged the financing through a CMBS lender. The subject is a 229-all suite hotel that features a four-story courtyard corridor and resort style pool. Financing was provided through one of Newmark’s CMBS lending relationships.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $8 billion representing over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Patrick Barkley at (602) 374-7806, Chad Metzger at (602) 374-7268, or Michael Heagerty at (415) 956-9854.
$28,900,000 for Goodyear Centerpointe in Goodyear, AZ
On behalf of a major Southern California shopping center developer, Newmark’s Braden Turnbull, Patrick Barkley and Chad Metzger have arranged a $28.9 million long-term permanent loan to finance the acquisition of Goodyear Centerpointe, a 324,000 square foot regional power center with I-10 frontage in Goodyear, Arizona. Major tenants include Toys “R” Us, Babies “R” Us, Conn’s HomePlus, Bevmo!, Party City, Goodwill and Sport Chalet. The property is also subject to an unsubordinated ground lease. Financing was arranged through one of Newmark’s life insurance company relationships.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $8 billion representing over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Braden Turnbull at (310) 846-5301, Patrick Barkley at (602) 374-7806, Chad Metzger at (602) 374-7268, or Michael Heagerty at (415) 956-9854.
$100,000,000 for Class-A, Luxury Apartment in Los Angeles, CA
Newmark Realty Capital, Inc. has arranged construction-to-permanent financing in the amount of $100,000,000 for two to-be-constructed, class A, luxury apartment communities located in Portland, OR and Glendale, CA.
George Mitsanas, Principal, Peter Hillakas, Vice President, and Amit Tyagi, Associate, of Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse (during permanent loan term) financing for the borrower who is an experienced luxury apartment developer and operator. The 12 year loan was placed with one of Newmark’s correspondent life insurance company lenders and provides for interest-only during the three year construction term followed by a 30 year amortization. The loan will be serviced by Newmark.
“Newmark’s team has decades of experience in raising capital for apartment projects throughout the west coast and beyond. Over the years we have capitalized projects ranging from affordable housing to high-end residential towers. A large number of these residential projects are part of our servicing portfolio which really helps understand our markets, with regard to actual performance.”
-George Mitsanas, Principal of Newmark
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $8 billion representing over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, Peter Hillakas at (310) 846-5315, or Michael Heagerty at (415) 956-9854.
$5,700,000 for a 203-Unit Multifamily Property in Colorado Springs, CO
Fritz Grim, a Vice President in Newmark’s Los Angeles office, has arranged a $5,700,000 acquisition loan secured by a 203-unit multifamily property in Colorado Springs, CO. The loan features a partial interest-only period over its 15-year term then is amortized over a 30-year period.
The property is located in northeast Colorado Springs, CO and is situated on 4.18 acres. Constructed in 1971, the property offers one and two-bedroom floor plans, indoor and outdoor pools, and detached garages. The loan was placed with one of Newmark’s correspondent lending relationships. No additional terms were made available.
“The acquisition of this asset was the sponsor’s first in Colorado. Strong market fundamentals paired with the property’s stabilized operating history and desirable location offer a solid investment for the sponsor.”
-Fritz Grim, Vice President of Newmark Realty Capital, Inc.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Fritz Grim at 310-846-5302 or Michael Heagerty at 415-956-9854.
$2,300,000 for Automotive Retail Portfolio in Los Angeles, CA
Fritz Grim, a Vice President in Newmark’s Los Angeles office, has arranged $2,300,000 in acquisition loans for an automotive retail/specialty use portfolio in Washington, Oregon, and New Mexico. The collateral for the 10-year term financings included two Jiffy Lube centers and a standalone O’Reilly Auto Parts retail store. Each lessee had recently executed new long term market rate leases.
“The sponsor purchased all three properties as part of a 1031 exchange and timing was extremely important to both buyer and seller. Newmark’s strong relationship with one of its correspondent life company lenders allowed for a quick, streamlined closing of the multi-state portfolio.”
-Fritz Grim, Vice President of Newmark Realty Capital, Inc.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Fritz Grim at (310) 846-5302 or Michael Heagerty at 415-956-9854.
$16,700,000 for 216 Multi-Family Units in Spokane Valley, WA
Newmark Realty Capital, Inc. has arranged take-out financing in the amount of $16,700,000 secured by a new 216 unit multi-family property located in Spokane Valley, WA. Skip Slavin and Demetri Koston, Vice Presidents for Newmark Realty Capital in Washington, worked on behalf of the borrower to arrange the 7-year term.
The property is ideally located along the Spokane River, with excellent access to area employment centers, destination retail, and nearby recreational amenities. Newmark has had an office located in Spokane since 2009, which greatly enhanced the ability to attract favorable institutional financing options for the borrower. Newmark presented several possible options to the borrower for consideration, and final placement was with one of Newmark’s correspondent lending relationships. No additional terms were made available.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Skip Slavin at 206-816-6814 or Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.
$8,000,000 for An Industrial Building in Santa Ana, CA
Fritz Grim, a Vice President in Newmark’s Los Angeles office, has arranged an $8,000,000 loan for an industrial/flex building in Santa Ana, CA. Centrally located in the heart of Orange County, the project resides in one of the strongest industrial markets in country. The two-story asset was constructed in 2000, consists of 94,988 square feet, and is situated on 5.36 acres. The property offers 24’ clear heights, 34,196 square feet of office, has three truckwell loading positions, and two ground level loading doors.
“The property was purchased all cash in early 2013, subsequently the owners secured a new tenant for over 60% of the space. The debt placed on the property has allowed the buyers to recapture their cash equity and will allow them to continue expanding their real estate portfolio. Orange County’s robust industrial market, access to a vast labor pool, and the property’s centralized location were all strengths recognized by the property’s owner, its tenants, and the lender.
-Fritz Grim, Vice President of Newmark Realty Capital, Inc.
Newmark arranged the financing with one of their correspondent life company lenders. Additional terms of the transaction were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Fritz Grim at (310) 846-5302 or Michael Heagerty at (415) 956-9854.
$24,000,000 for Mixed-Use Condo Development in Palo Alto, CA
Jeff Wilcox, a Principal in Newmark’s San Francisco office, has arranged a $24,000,000 construction loan for a mixed-use condo development in downtown Palo Alto. Located directly off of University Ave., the new development is located in one of the hottest submarkets in the country. The new four-story asset is divided into two condos, one office and one residential. The Class A office condominium consists of 30,000 SF of rentable space across the first three floors of the building. The residential condominium is one, 5,000 square foot luxury unit on the fourth floor of the building. The unique condominium design of the building coupled with the high loan per square foot posed significant hurdles when securing a construction loan.
“Lenders in general are still wary of condominium development despite the strength in the current market. The 2008 downturn has made “condos” a four letter word and it is tough to shake that stigma. The strong location within Palo Alto and the borrower’s track record of successful development played a large part in securing the financing. It will be a great pleasure to watch the building come out of the ground over the next 12 months.”
-Jeff Wilcox, Principal of Newmark Realty Capital, Inc.
Working on an exclusive basis, Newmark arranged the financing with a local bank. Additional terms of the transaction were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jeff Wilcox at (415) 946-6239 or Michael Heagerty at (415) 956-9854.
$12,750,000 for Downtown Albertsons in San Diego, CA
Newmark Realty Capital, Inc. has arranged financing in the amount of $12,750,000 for the refinance of a 42,973 square foot Albertsons supermarket located in the East Village neighborhood of downtown San Diego. The supermarket occupies the ground floor of a 7-story, mixed-use development, which includes a 229-unit luxury apartment complex.
Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower, a southern California based investment management company. The lender is an east coast based bank, which agreed to a 10 year, fixed-rate loan. Other terms and conditions were not disclosed.
Located west of Interstate 5, the East Village neighborhood, originally intended for industrial and warehouse development, is now a thriving urban enclave. Beginning with redevelopment, and particularly after 2004, after the opening of Petco Park – home to the San Diego Padres MLB team, the area is now home to more than 700 businesses including upscale restaurants, hotels, trendy shops, and art galleries. The neighborhood has become a hub of construction projects, including condominiums and other public spaces, including the recently completed $185 million San Diego Central Public Library.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$6,300,000 for Pear Tree Center in Ukiah, CA
Newmark Realty Capital, Inc. arranged a 10-year, $6,300,000 loan for the Pear Tree Center, a 134,100 SF Shopping Center anchored by Ross, Big 5 and Lucky’s.
Eric Von Berg and Tom Dao, from Newmark’s San Francisco office, received an exclusive assignment to refinance a maturing CMBS loan for this property. The borrower was looking for a loan that was non-recourse, with maximum repayment flexibility and priced at a competitive rate.
According to the owner, Len Garrison,“Eric and Tom listened to our objectives and priorities and helped matched us with a lender who offered the flexibility we needed.”
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders that utilize Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $7.5 billion that represent over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$5,375,000 for 117 Multi-Family Units in Nampa, ID
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $5,375,000 secured by a 117 unit multi-family property in Nampa, ID, located near Boise. Demetri Koston, Vice President for Newmark Realty Capital in Spokane, worked on behalf of the borrower to arrange the 15-year loan.
The borrower engaged Newmark directly to arrange the acquisition financing. Given the borrower had recently traded out of another property, the timeline for closing was especially critical. Newmark presented several possible options including agency financing, life insurance companies, banks, and other sources. Mr. Koston worked closely with the borrower to select a lender and a structure providing the most attractive non-recourse solution available. Additional terms of the financing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.
$20,500,000 for Four Property Portfolio in San Francisco, CA
Newmark Realty Capital Inc. has arranged permanent financing in the amount of $20,500,000 for a mixed-use portfolio consisting of office, retail and apartments located in the Bay Area, in California, including San Jose, Cupertino, and Santa Cruz.
Jeff Wilcox and Robert Slatt, Principals, and Charlie Kokernak, Associate, of Newmark’s San Francisco office, worked on behalf of a California based client to refinance their portfolio with one of Newmark’s correspondent insurance company lenders. To provide flexibility to the borrower, the team ensured that favorable substitution of collateral provisions were included. Newmark will continue to work directly with their client to service this loan throughout the remainder of its life.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders that utilize Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $7.5 billion that represent over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Robert Slatt at 415-946-6246, Jeff Wilcox at 415-946-6239, Charlie Kokernak at 415-956-9961, or Michael Heagerty at 415-956-9854.
$21,630,000 for Two GSA Buildings Developed by Astani in Los Angeles, CA
On behalf of Astani Enterprises, Newmark Realty Capital, Inc. arranged two permanent loans totaling $21,630,000 for two GSA buildings located in OH and CA. The collateral consists of a GSA ICE office building in Blue Ash, Ohio and a courthouse that is currently being constructed in Eureka, California. The financing was led by George Mitsanas, Principal, Peter Hillakas, Vice President, and Michelle Hsieh, Associate, in Newmark’s Los Angeles office.
The ~36,000 square-foot ICE office building was acquired by Astani Enterprises and renovated with new energy efficient features on behalf of the GSA. Improvements include a new roof, state-of-the-art HVAC system, ceiling insulation, lighting, plumbing, and landscaping, which all work towards a LEED certification. The GSA recently took occupancy of the building and leased the space on a 20-year firm term. The construction of the ~23,000 square-foot courthouse is currently underway and will be occupied by the GSA in October, 2014 on a 20-year firm term. Newmark will service both loans for the lender; the lender is a long-time correspondent of Newmark.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark is a rated Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact George Mitsanas at 310-846-5299, Peter Hillakas at 310-846-5315, or Michael Heagerty at 415-956-9854.
$3,000,000 for NNN Ground Lease McDonald’s / Shell in Oceanside, CA
Newmark Realty Capital, Inc. has arranged acquisition financing in the amount of $3,000,000 for a NNN ground lease McDonald’s/Shell Gas Station. The subject consists of a 6,243 square foot stand-alone McDonald’s and Shell Gas station combination located in Oceanside, California, a coastal city in north San Diego County.
Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower/buyer, a private individual. The lender, Standard Insurance of Portland, Oregon, is a Newmark correspondent life insurance lender. Standard agreed to a fully amortizing 25-year loan. Other terms and conditions were not disclosed. Total processing time was 45 days.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$ for Five Walgreens Stores in San Francisco, CA
Newmark Realty Capital, Inc. refinanced five Walgreens stores in various locations across the country. Eric Von Berg and Tom Dao at Newmark received an exclusive assignment to refinance a portfolio of Walgreens, all on a non-recourse structure and fully amortized over the terms of the loans which matched the remaining terms of the investment-grade credit lease. The borrower, a thirty year client of Newmark Realty Capital, was looking to rebalance the portfolio to take advantage of long term, low rate loans offered by Newmark’s life insurance correspondent lenders.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$8,500,000 for Sun Shadow Square in Sun City, AZ
Timothy W. Storey, Principal of Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $8,500,000 for Sun Shadow Square in Sun City, Arizona. The financing was arranged on behalf of the borrower through one of Newmark’s CMBS relationships. The loan will be serviced by Newmark. Pricing and other terms of the loan were not disclosed.
Located within Maricopa County, Sun City is a retirement community known for the active lifestyle of its senior citizens. Sun Shadow Square, which is approximately 84,000 square feet, is located in the heart of Sun City where many of its residents benefit from its ease of access. This property is also easily accessible for non-residents of the community since it sits between two major thoroughfares, the Agua Fria Loop 101 and the U.S. Highway 60. Built in 1986, this neighborhood retail center is home to many notable tenants including Subway, Pizza Hut, Edward Jones & Co. and H&R Block. At closing, this property was 85% occupied. Surrounding the property, but are not included in the subject collateral of the loan, are other well-known tenants like McDonald’s, Arby’s, Wells Fargo, Chase, and Big O Tires.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Tim Storey at 602-374-7854 or Michael Heagerty at 415-956-9854.
$16,000,000 for Rancho Bernardo Plaza in San Diego County, CA
Newmark Realty Capital, Inc. has arranged financing in the amount of $16,000,000 for the refinance of Rancho Bernardo Plaza, a 160,174 square foot, shadow-anchored retail center located in Rancho Bernardo, California, a suburban community in northeastern San Diego County.
Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Associate Vice President Bahman Mirhashemi, and Production Associate Jay Dick, arranged the financing for the borrower, a family trust. The lender, Lincoln Financial, is a Newmark correspondent life insurance lender. Lincoln agreed to a 10-year loan with fixed rate and provided the borrower with an extended early rate lock of 9 months. At funding, the plaza was about 95% occupied with a submarket vacancy rate of 6% (Voit’s 2013-3Q). Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$39,400,000 for Distribution Building in Indianapolis, IN
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $39,400,000 for the refinance of an institutional quality, single-tenant distribution/packaging building located in Indianapolis, Indiana.
George Mitsanas and Tim Storey, Principals of Newmark Realty Capital, Inc. worked on an exclusive basis with the borrower to arrange the 15 year fully amortizing, non-recourse financing with a correspondent life company. The loan will be serviced by Newmark. Pricing and other terms were not disclosed.
The subject loan is secured by a 1,119,195 sf distribution and packaging facility that is 100% leased to a credit tenant. The subject sits on just over 68 acres and is located on the west side of Indianapolis, one half mile from the Indianapolis International Airport.
“Newmark has a lot of experience in arranging financing for institutional quality assets all over the United States. This is the fifth project we have financed for this client within the last two years totaling over $250 million.”
-George Mitsanas, Principal of Newmark Realty Capital, Inc.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact George Mitsanas at 310-846-5299, Tim Storey at 602-374-7854 or Michael Heagerty at 415-956-9854.
$12,000,000 for Multi-Tenant Retail Center in Petaluma, CA
Newmark Realty Capital Inc. has arranged permanent financing in the amount of $12,000,000 for a 191,309 square feet multi-tenant retail center in Petaluma, CA, located approximately 40 miles north of San Francisco.
Robert Slatt, Principal, and Charlie Kokernak, Associate, of Newmark’s San Francisco office, worked on behalf of a California based client to refinance Plaza North Shopping Center with one of Newmark’s correspondent insurance company lenders. The Center is easily accessible from the Highway 101 north-south corridor and anchored by CVS and Kmart, in addition to 35 in-line tenants. Newmark will continue to work directly with their client to service this loan.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders that utilize Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $7.5 billion that represent over 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Robert Slatt at 415-946-6246, Charlie Kokernak at 415-956-9961, or Michael Heagerty at 415-956-9854.
$4,300,000 for Lakeview Apartments in Santee, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $4,300,000 for the Lakeview Park Apartments, a 51,816 square foot, 72 unit apartment complex located in Santee, California, a suburban community in eastern San Diego County.
Jamie Dick, Vice President of Newmark’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower, a southern California based Children’s Charitable Trust. The lender, Lincoln Financial of Greensboro, North Carolina, is a Newmark correspondent life insurance lender. Lincoln agreed to a fully amortizing 25-year loan with fixed rate and provided the borrower with an extended early rate lock. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$10,000,000 for Multi-Tenant Retail in Inglewood, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $10,000,000 secured by nearly 60,000 square feet of prime multi-tenant retail space. The security is located in Inglewood, CA, and tenants include Walgreens and LA Fitness. In addition, the security is part of a larger retail center anchored by Target and Home Depot. The center is considered to be the premier retail shopping destination for the region. Peter Welsh, Principal of Newmark Realty Capital in Los Angeles, and Demetri Koston, Vice President of Newmark Realty Capital in Spokane, worked on behalf of the borrower to arrange the long-term, fixed rate, non-recourse financing through a correspondent life insurance company. The loan will fully amortize over the fixed rate term. Newmark will service the loan.
While Walgreens corporate credit is highly sought after in the capital markets, this transaction posed some unique and significant financing challenges. In particular, the loan term extends beyond the lease terms for all the tenants, which was unsettling for some lenders. Regardless, Newmark effectively identified the lender best suited to overcome the challenges and meet the borrower’s objectives. Furthermore, as is typical with Newmark’s other correspondent lenders, there were no lender fees incurred by the borrower for this transaction.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact Peter Welsh at 310-846-5298, Demetri Koston at 509-720-6364, or Michael Heagerty at 415-956-9854.
$62,000,000 for Apartment Renovation in Bellevue, WA
On behalf of a major private West Coast investor, Newmark has arranged a $62,000,000, 12-year fixed-rate loan facility, for a 334-unit 1970s vintage apartment community located in Bellevue, Washington. Within the loan facility are funds to complete a “deep” renovation and upgrade of the project’s interiors, exteriors and common areas, as well as an earn-out component to be funded post-renovation as the projected rents are achieved. The rate is fixed on the entire loan facility and interest does not accrue on the unfunded commitment. Newmark’s Peter Welsh, Braden Turnbull, Peter Hillakas, Skip Slavin and Doug Tisdale arranged this facility through one of Newmark’s life insurance company correspondent lenders.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Pete Welsh at 310-846-5298, Braden Turnbull at 310-846-5301, Peter Hillakas at 310-846-5315, Skip Slavin 206-816-6814, or Michael Heagerty at 415-956-9854.
$16,300,000 for Multi-Tenant Office/Retail Building in Beverly Hills, CA
Newmark Realty Capital, Inc.’s Principal, George Mitsanas, Vice-President, Peter Hillakas, and Associate, Michelle Hsieh, have arranged permanent financing in the amount of $16,300,000 for the refinance of a recently constructed, three-story, multi-tenant office/retail building. Newmark originally arranged the subject’s 2008 construction loan and now has arranged a 10 year permanent loan with a regional bank.
The loan is secured by a 32,000 SF building, with three and a half levels of subterranean parking, and was presented an award for Architectural Design by the Architectural Commission of Beverly Hills. The building is well located in the heart of Beverly Hills in the Golden Triangle and is situated on a largely trafficked street with great visibility and access. The property is fully leased with retail on the first floor and office on the second and third.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact George Mitsanas at 310-846-5299, Peter Hillakas at 310-846-5315, or Michael Heagerty at 415-956-9854.
$7,000,000 for Shopping Center in Casa Grande, AZ
Newmark Realty Capital, Inc has arranged permanent financing in the amount of $7,000,000 for a 94,000 square foot neighborhood shopping center situated on the main arterial in Casa Grande, Arizona.
The subject property enjoys excellent access and visibility along Florence Boulevard. It has been recently renovated by the borrower and features several well-known national tenants. The property was 90% leased by thirteen (13) tenants at closing, many of whom have been located at the center for 10+ years.
Tim Storey, a Principal in Newmark’s Phoenix office secured the financing for the borrower through one of Newmark’s CMBS relationships. Specific terms of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Tim Storey at 602-374-7854 or Michael Heagerty at 415-956-9854.
$9,700,000 for 120 Multi-Family Unit Property in Spokane Valley, WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $9,700,000 secured by a new 120 unit multi-family property located in Spokane Valley, WA. Demetri Koston, Vice President for Newmark Realty Capital in Spokane, worked on behalf of the borrower to arrange the 10-year term.
The Spokane-based borrower engaged Newmark to explore take-out financing for the new project. Newmark presented several possible options including agency financing, local lenders, Wall Street, life insurance companies, and others. Mr. Koston worked closely with the borrower to select a lender and structure the most attractive solution available. While specific terms of the financing were not disclosed, all property debt was successfully refinanced.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.
$17,500,000 for 370 Unit, Luxury Apartment in South Tempe, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $17,500,000 for a 370 unit, class A, luxury apartment community located in South Tempe, Arizona.
George Mitsanas, Principal, Peter Hillakas, Vice President, and Doug Tisdale, Associate, of Newmark’s Los Angeles office, and Tim Storey, Principal, and Chad Metzger, Associate Vice President, in Newmark’s Phoenix office, arranged the fixed-rate, non-recourse financing for the borrower, a San Diego based development and management company with an emphasis on class A multi-family apartment communities located in California and Arizona. George Mitsanas has financed this property for the borrower twice before. The 10 year loan was placed with one of Newmark’s correspondent life insurance company lenders and provides for interest only during the first 5 years followed by a 30 year amortization.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, Peter Hillakas at (310) 846-5315, Tim Storey at (602) 374-7854, or Michael Heagerty at (415) 956-9854.
$6,500,000 for Two Medical Office Properties in Henderson, NV
Newmark Realty Capital has arranged permanent financing in the amount of $6,500,000 secured by two medical office properties totaling 50,000 square feet and located in Henderson, Nevada. Christopher Funai, Vice President for Newmark Realty Capital in Las Vegas, procured the loan from a CMBS lender who closed the non-recourse loan despite the very turbulent markets of July 2013.
This loan was Newmark’s second over the last nine months with the same borrower/lender combination. Despite the volatile conditions in the bond-market, the lender closed with a 10-year fixed rate that remains well below historical levels. The borrower is a strong, local operator and has been able to maintain excellent occupancy in both properties despite the prolonged weak office market in Southern Nevada. The lender did not assess an origination fee and the interest rate was below 5.60%.
Newmark Realty Capital is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Chris Funai at 702-304-0437 or Michael Heagerty at 415-956-9854.
$1,700,000 for RV Park in Yuma, AZ
$42,000,000 for Mobile Home Park in Casa Grande, AZ
$9,300,000 for RV Park in Apache Junction, AZ
$18,387,000 for RV Park in Apache Junction, AZ
$2,700,000 for RV Park in Camp Verde, AZ
$10,635,000 for RV Park in Mesa, AZ
$1,000,000 for Multifamily Student Housing Project in Tucson, AZ
Newmark Realty Capital, Inc. has recently arranged a 10-year term, 25-year amortization permanent loan in the amount of $1,000,000 in connection with the refinance of a multifamily student housing project located 0.6 miles north of the University of Arizona campus. Ryan Johnson, Vice President in Newmark’s Tucson office, secured the financing on behalf of the borrower through one of its lending relationships. Specific terms of the loan were not disclosed.
The security consists of a 58 unit multifamily property, with a concentration of student tenants. Since acquisition of the property in 2012, the property has gone through extensive renovations including new landscaping, the exterior of each building being re-painted and individual unit remodels. The amenities within the community include a pool, high speed internet throughout the property, a credit card operated laundry facility, on-call maintenance, and copy and fax services.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Ryan Johnson at 520-305-3222 or Michael Heagerty at 415-956-9854.
$148,500,000 for Multi-State Portfolio in Los Angeles, CA
Newmark Realty Capital has arranged permanent financing in the amount of $148,500,000 on behalf of one of its institutional clients. The cross collateralized properties consisted of a multi-state portfolio of diverse property types including high quality office, neighborhood and community retail assets which generated significant lender interest.
Mark Ritchie, Principal, and Amit Tyagi, Associate, of Newmark’s Los Angeles office, arranged the financing for the borrower, a private real estate fund. The loan was placed with one of Newmark’s correspondent insurance company lenders. The lender was able to structure a full term interest-only loan at competitive pricing. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Mark Ritchie at 310-846-5303 or Michael Heagerty at 415-956-9854.
$4,180,000 for RV Resort in Rockport, TX
Newmark Realty Capital, Inc. has recently arranged permanent financing in the amount of $4,180,000 in connection with the refinance of an RV resort community located in the Coastal Bend area of southern Texas. Patrick Barkley, a Principal in Newmark’s Phoenix office, secured the financing on behalf of the borrower through one of its lending relationships. Specific terms of the loan were not disclosed.
The security consists of 318-spaces, which include a combination of RV pads, park models, cottages, and condos. These spaces are available for rent and come equipped with full kitchens and spacious living areas. Within the community, there are several amenities including clubhouses, laundry facilities, recreation halls, swimming pools/spas, game rooms, and many more.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$97,000,000 for Prime Retail Portfolio in Los Angeles,, CA
Newmark Realty Capital Inc. has arranged permanent financing in the amount of $97,000,000 for a portfolio of 15 retail, office, and mixed-use properties totaling 381,372 SF. All properties are located in stable, high demand, retail districts.
George Mitsanas, Principal, Peter Hillakas, Vice President, and Michelle Hsieh, Associate, of Newmark’s Los Angeles office, worked on behalf of the borrower to arrange the long-term, fixed-rate, non-recourse financing through a correspondent life insurance company. This arrangement succeeds a 39 property portfolio of similar assets from the same borrower that closed in December 2012. Proceeds totaled over $110 million for that loan.
“As we considered the various financing options for the portfolio, we selected a general account life company who has an excellent track record in dealing with portfolio loans. Having Newmark as the loan servicer was important to all involved. We intend on being by the borrower’s side throughout the term of the loans.”
-George Mitsanas, Principal of Newmark Realty Capital, Inc.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact George Mitsanas at 310-846-5299, Peter Hillakas at 310-846-5315, or Michael Heagerty at 415-956-9854.
$16,000,000 for Plaza De Oro Shopping Center in Murrieta, CA
Newmark Realty Capital, Inc. has arranged for the $16,000,000 refinance of the 99,102 square foot Plaza De Oro Shopping Center located in Murrieta, California.
Jamie Dick, Newmark’s Vice President in San Diego, arranged the financing for the borrower, a San Diego-based repeat client of Newmark. The lender, a major East Coast-based bank, agreed to a 10-year term, 30-year amortization loan. Additionally the non-recourse loan is interest-only for the first two years of its term. Mr. Dick and his San Diego-based team were able to process the loan in 41 days in order to accommodate the owner’s desired funding date.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Jamie Dick at 858-793-8400 or Michael Heagerty at 415-956-9854.
$9,000,000 for 144 Multi-Family Units in Spokane Valley, WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $9,000,000 secured by a new 144 unit multi-family property located in Spokane Valley, WA. Demetri Koston, Vice President for Newmark Realty Capital in Spokane, worked on behalf of the borrower to arrange the 10-year term.
The Spokane-based borrower engaged Newmark Spokane to explore take-out financing for the recently stabilized property. Newmark presented several possible options including agency financing, local lenders, Wall Street, life insurance companies, and others. Mr. Koston closely worked with the borrower to select a lender and structure the most attractive solution available. While specific terms of the financing were not disclosed, all property debt was successfully refinanced.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.
$18,000,000 for Multi-Tenant Office Building in San Francisco, CA
Newmark Realty Capital, Inc. Principal Terri Slocombe has arranged permanent financing in the amount of $18,000,000 for the refinance of a multi-tenant professional office building located in San Francisco. Working on an exclusive basis with the borrower, Newmark arranged the 7-year term, fixed-rate financing with a correspondent life insurance company. The loan will be serviced by Newmark. Pricing and terms were not disclosed.
The subject loan is secured by a nine-story building totaling 54,407 square feet. The first and second floors are occupied by MaxMara, diPietro Todd Salon and TSE Cashmere while the upper floors are occupied by professional office tenants, including notable law and architectural firms. The property is well located in the famous Union Square.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Newmark production teams take on consulting, acquisition and mortgage brokerage assignments. Established in 1991, the company services over $7.0 billion with over 900 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s; one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$7,057,586 for Build-to-Suit Building in San Diego, CA
Newmark Realty Capital, Inc. has arranged construction/permanent financing in the amount of $7,057,586 for a single-tenant, build-to-suit 71,486 square foot industrial building. The tenant, which is a subsidiary of a large international industrial conglomerate, will utilize the building as a manufacturing and distribution facility.
Thomas Dudley Jr., Principal in Newmark’s Irvine office, arranged the financing for the borrower, who is a San Diego-based industrial developer and investor. The 15 year loan was placed with one of Newmark’s correspondent insurance company lenders and provides for interest-only during the construction phase followed by 20 year amortization. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact Thomas Dudley, Jr. at (949) 777-9033 or Michael Heagerty (415) 956-9854.
$15,000,000 for SAF Keep Storage in Redwood City, CA
Newmark Realty Capital, Inc. arranged a $15,000,000 10-year, fixed rate loan to refinance a 1,786 unit, SAF Keep Storage facility in Redwood City, about 30 miles south of San Francisco. Eric Von Berg, Principal, and Tom Dao, Associate, of Newmark Realty Capital, introduced SAF Keep to the capital markets including Newmark’s extensive network of life insurance companies. SAF Keep Storage, with its strong track record of ownership and management, found they had a wide range of lenders interested in quoting this loan. As a result, the borrower choose from a variety of rates and terms to pick the loan which suited their unique portfolio requirements.
“Tom and Eric listened to our needs. They found a flexible lender interested in the self-storage industry that wanted to build a relationship with our firm. We were pleased with the smooth closing of our first loan with this lender. We are very satisfied with the process.”
-Ed Roach, co-owner of SAF Keep Storage
Click below to see more self-storage mortgages placed by Newmark Realty Capital:
Newmark Realty Capital: Self-Storage Finance Expertise
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Newmark production teams take on consulting, acquisition and mortgage brokerage assignments. Established in 1991, the company services over $7.0 billion with over 900 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s; one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$13,750,000 for Multi-Family Residential Communtiy in Los Altos, CA
Newmark Realty Capital has arranged permanent financing in the amount of $13,750,000 for Los Altos Gardens, a multi-family residential community located in Los Altos, California.
The project consists of 25 one and two-bedroom flats, 24 two-bedroom townhomes and 8 single-family houses situated on approximately 6.5 acres.
Terri Slocombe and Mitch Zeemont of Newmark’s San Francisco office arranged the financing for the property owner through a national bank on a non-recourse basis.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Terri Slocombe at (415) 956-9898, Mitchell Zeemont at (415) 956-9885, or Michael Heagerty at (415) 956-9854.
$984,000 for 7-Eleven Anchored Retail Center in Sebastopol, CA
Newmark Realty Capital, Inc. has arranged permanent acquisition financing in the total amount of $984,000 for the purchase of a 7-Eleven anchored retail center located in Sebastopol, California.
Terri Slocombe, a Principal in Newmark’s San Francisco office, arranged the acquisition financing for the property with a correspondent life insurance company who was able to lock the loan’s interest rate at application signing, thereby eliminating the risk that the rate would potentially increase during the loan processing and purchase/sale escrow period. Newmark will service the loan, which was fixed for 10 years with a 25 year amortization period. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$1,000,000 for Portion of a Ralph’s Anchored Center in Grass Valley, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $1,000,000 for a 15,750 square foot portion of a Ralph’s anchored retail center located in Grass Valley, California. The 15,750 square feet are occupied by AutoZone, Blockbuster, Port of Subs and Launderland.
Terri Slocombe, a Principal in Newmark’s San Francisco office, arranged the financing for the borrower through one of Newmark’s correspondent life insurance companies. Newmark will service the loan, which was fixed for 15 years with a 15 year amortization period. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$900,000 for Helm of Sun Valley Retail Center in San Jose, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $900,000 for Helm of Sun Valley, a 21,600 square foot snow sports, outdoor furniture, lifestyle and beach accessories retailer located in San Jose, California.
Terri Slocombe, a Principal in Newmark’s San Francisco office, arranged the financing for the borrower through one of Newmark’s correspondent life insurance companies. Newmark will service the loan, which was fixed for 10 years with a 25 year amortization period. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$1,991,000 for Plaza Sobrante Retail Center in El Sobrante, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $1,991,000 for the Plaza Sobrante retail center, a 30,954 square foot shopping center located in El Sobrante, California.
Terri Slocombe, a Principal in Newmark’s San Francisco office, arranged the financing for the borrower through one of Newmark’s correspondent life insurance companies. Newmark will service the loan, which was fixed for 10 years with a 25 year amortization period. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$1,900,000 for Mixed-Use Retail and Office Property in San Francisco, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $1,900,000 for a mixed-use retail and office property located in downtown San Francisco, California.
Terri Slocombe of Newmark’s San Francisco office arranged the financing for the property owner through a national bank. The loan was fixed for 5 years with a 25 year amortization period. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$59,000,000 for CMBS Loan for Shopping Center in Las Vegas, NV
Newmark Realty Capital has completed a $59,000,000 CMBS financing for a major destination retail center in Southwest Las Vegas. Blue Diamond Crossing is a 530,000 square foot community shopping center anchored by Kohl’s and Target. The new financing replaced the life insurance company construction take-out financing arranged by Newmark in 2006.
This transaction was complex due to the participating structure of the project’s unsubordinated Clark County ground lease. Over the last fifteen years Newmark has arranged financing involving Clark County ground leases for numerous properties with multiple lenders. Newmark’s team of Producers, Chris Funai, Braden Turnbull, and Peter Welsh, were able to complete this financing on behalf of the borrower.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Chris Funai at (702) 304-0437, Braden Turnbull at (310) 846-5301, Peter Welsh at (310) 846-5298, or Michael Heagerty at (415) 956-9854.
$5,500,000 for Village Shopping Center in San Ysidro, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $5,500,000 for the San Ysidro Village Shopping Center, an 86,200 square foot shopping center located in San Ysidro, California.
James Dick, Vice President of Newmark’s San Diego office, arranged the financing for the borrower, a San Diego based investor. Advantus Capital Management agreed to a 10 year term loan with a 25 year amortization period. The loan is non-recourse. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$3,500,000 for Mobile Home Park in Mesa, AZ
Patrick M. Barkley, Principal of Newmark Realty Capital, Inc. has recently arranged permanent financing in the amount of $3,500,000 in connection with the refinance of a senior mobile home park and RV community in Mesa, Arizona. Newmark secured the financing on behalf of the borrower through its lending relationship with Wells Fargo Bank, NA. Specific terms of the loan were not disclosed.
The security consists of over 240-spaces, most of which are rented on a year-round basis, while some of the spaces are used for seasonal RV use with flexible lease terms. The amenities within the community include clubhouses, laundry facilities, shuffleboard courts, swimming pools/spas, craft room, billiards room, and library among others.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees throughout the western United States. The company services approximately $7 billion with over 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$4,200,000 for Three StoragePro Facilities in San Francisco, CA
Newmark Realty Capital, Inc. arranged three 10-year, fixed rate loans to refinance maturing loans on properties owned by StoragePro, a highly respected and successful self-storage owner, operator and third-party manager of self-storage facilities on the West Coast. The three loans ranged from $2,200,000 to $4,200,000. Over the last two years, Newmark arranged five loans for StoragePro with the same life insurance lender that uses Newmark Realty Capital as their loan correspondent. Newmark will be servicing these loans on behalf of the lender; this role provides the borrower, StoragePro, a constant servicing relationship with a mortgage banker who has built an expertise in the self-storage industry.
The strength of these transactions were based on the relationship that StoragePro developed with the lender, through Newmark’s stewardship. Eric Von Berg, Principal, and Tom Dao, Associate, at Newmark helped foster smooth transactions that led to better pricing with each subsequent loan.
“Tom and Eric helped us build a relationship with this life insurance company gaining a reputation as the one of the best lenders for the self-storage industry. Newmark helped us take advantage of historical low mortgage rates and guided us through three smooth loan closings,”
-Steve Mirabito, President of StoragePro and incoming President of the California Self Storage Association.
Click below to see other self-storage mortgages placed by Newmark Realty Capital:
Newmark Realty Capital: Self-Storage Finance Expertise
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$6,300,000 for L Street Self-Storage Park in Chula Vista, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $6,300,000 for the L Street Self Storage Park, an 86,770 square foot self-storage facility, located in Chula Vista, California.
James Dick, a Vice President of Newmark, arranged the financing for the borrower, a San Diego based investor. The lender, a New York based institutional lender agreed to 10 year term loan with a 30 year amortization period. The loan is non-recourse. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.
$12,000,000 for Marketplace in Santa Fe Springs, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $12,000,000 for the refinance of a grocery shadow-anchored and drug store anchored shopping center known as Santa Fe Springs Marketplace in Santa Fe Springs, CA.
Thomas Dudley, a Principal of Newmark Realty Capital, Inc. worked on an exclusive basis with the borrower to arrange the 10 year term, fixed rate, non-recourse financing from a CMBS lender. The loan was recently pooled as part of a securitization. Newmark will be subservicing and cashiering the loan. Pricing and terms were not disclosed.
The subject loan is secured by a 100,133 SF shopping center which was developed by the borrower more than 20 years ago and is anchored by a Rite Aid drug store. It is part of a larger center shadow-anchored by a Food-4-Less grocery store.
“Even though there were two years left on the existing loan, the borrower, one of the largest and most successful developers in California, refinanced now to take advantage of today’s low interest rate environment.”
-Thomas Dudley, Principal of Newmark Realty Capital, Inc.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Thomas Dudley at 949-777-9033 or Michael Heagerty at 415-956-9854.
$21,675,000 for Five Multifamily Assets in Phoenix, AZ
Newmark Realty Capital, Inc. has arranged financing in the amount of $21,675,000 for five multifamily assets located in the Tucson and Phoenix areas. Adam Parker, Vice President for Newmark Realty Capital, Inc., worked on behalf of multiple borrowers, to arrange the separate transactions.
The security for the multiple loans includes Class A, B, and C multifamily assets. All five apartment buildings are stabilized. Mr. Parker arranged the five separate loans through four separate lenders illustrating his ability to source the right lender for different loan scenarios.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders that utilize Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $7 billion that represent over 875 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Adam Parker at (602) 354-5275 or Michael Heagerty at (415) 956-9854.
$9,000,000 for Two Apartment Buildings in Burlingame, CA
Robert Slatt and Jeff Wilcox in Newmark Realty Capital’s San Francisco office have arranged two loans totaling $9,000,000 for two apartment buildings located blocks from each other in downtown Burlingame, CA. One of Newmark’s life insurance correspondent lenders provided two 30-year fixed loans to win the business. Terms of the transaction were not disclosed.
“The Borrower’s unique financing request provided some challenges for the assignment…The lender recognized that the quality of the assets and the quality of the ownership was second to none which allowed them to offer the most competitive long term financing terms in the market.”
-Jeff Wilcox, Vice President of Newmark Realty Capital, Inc.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders that utilize Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services approximately $7 billion that represent over 875 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Robert Slatt at (415) 946-6246, Jeff Wilcox at (415) 946-6239 or Michael Heagerty at (415) 956-9854.
$110,850,000 for Southern California Retail Portfolio in Los Angeles, CA
Working on an exclusive basis, Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $110,850,000. The financing is secured by a portfolio of trophy retail properties located primarily along Melrose Avenue, in the Beverly Hills triangle and along Montana Avenue and Main Street in Santa Monica. The portfolio also included several high-end retail buildings in Newport Beach, San Diego, Ventura, and Paso Robles.
George Mitsanas, Principal, Peter Hillakas, Vice President, and Michelle Hsieh, Associate of Newmark’s Los Angeles office worked on behalf of the borrower to arrange the long-term, fixed rate, non-recourse financing through a correspondent life insurance company. Originally, the borrower was seeking financing for only a portion of their portfolio. Pleased with the rate, terms, and Newmark’s execution, the borrower then engaged Newmark to arrange $100 million in financing for an additional portfolio of similar quality assets. Closing for this second portfolio is scheduled for February, 2013.
“Newmark has a tremendous amount of experience in portfolio financing. Putting a deal like this together requires much knowledge in dealing with all of the players involved and a comprehensive understanding of the client’s needs and what options are available in the marketplace. “
-George Mitsanas, Principal of Newmark Realty Capital, Inc.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders that utilize Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services approximately $7 billion that represent over 875 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact George Mitsanas at 310-846-5299, Peter Hillakas at 310-846-5315, or Michael Heagerty at 415-956-9854.
$7,000,000 for Sam’s Club Ground Lease in Corona, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $7,000,000 secured by a 12 acre lot. The security is located in Corona, CA and is leased on a long-term basis to Sam’s Club. Peter Welsh, Principal of Newmark Realty Capital in Los Angeles, and Demetri Koston, Vice President of Newmark Realty Capital in Spokane, worked on behalf of the borrower, to arrange the long-term, fixed rate, non-recourse financing through a correspondent life insurance company. The loan will fully amortize over the fixed rate term. Newmark will service the loan.
While Sam’s/Walmart corporate credit is highly sought after in the capital markets, this transaction posed some unique and significant financing challenges. In particular, the loan term extends beyond the lease term and the presence of an onsite gas station is unsettling for some lenders. Regardless, Newmark effectively identified the lender best suited to overcome the challenges and meet the borrower’s objectives. Furthermore, as is typical with Newmark’s other correspondent lenders, there were no lender fees incurred by the borrower for this transaction.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Peter Welsh at 310-846-5298, Demetri Koston at 509-720-6364, or Michael Heagerty at 415-956-9854.
$2,300,000 for Somerset Place Apartments in Tucson, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,300,000 for Somerset Place Apartments. The subject property located north of the Davis Monthan Air Force base and less than one mile from Gene C. Reid Park Zoo, consists of 160 one bedroom standard and deluxe units. The property features a pool, spa, barbecue area, controlled access, and laundry facility and was 92% occupied at closing.
Adam Parker, a Vice President of Newmark’s Phoenix office, arranged the financing on behalf of the borrower through a banking relationship. The loan will be used to refinance the borrower’s impending Fannie Mae loan maturity. Specific details of the financing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
$16,000,000 for Marketplace in El Dorado Hills, CA
Robert Slatt, a Principal in Newmark’s San Francisco office, has arranged $16,000,000 in permanent refinancing for Marketplace at Town Center in El Dorado Hills, California. The subject property is located within a 318,458 square foot lifestyle center located in the residential suburbs of El Dorado Hills.
The collateral property is located on the north side of the center consisting of 112,644 square feet of retail space of which 52,029 square feet is anchored by a Nugget Grocery Store.The new financing replaced existing debt on the property and was secured through Ladder Capital. Terms of the transaction were not disclosed, although Newmark will service this loan for Ladder Capital and the property owner.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a best in class lineup of correspondent lenders utilizing Newmark’s production, closing, and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the Western United States. The company services over $7 billion representing over 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Robert Slatt at 415-946-6246 or Michael Heagerty at 415-956-9854.
$5,250,000 for Rite Aid Anchored Retail Center in Napa, CA
Newmark Realty Capital, Inc. has arranged bridge financing in the amount of $5,250,000 secured by a Rite Aid-anchored retail center located in Napa, CA. Demetri Koston, Vice President for Newmark Realty Capital, worked on behalf of the Borrower, to arrange the short term loan on an interest-only basis.
The security is a Class C multi-tenant neighborhood retail center. The retail center is currently in transition with future improvement and development under consideration, and outstanding legacy environmental issues being addressed. Newmark was able to secure financing due to the excellent location, consistent historical performance, strong sponsorship, and relatively low LTV.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.
$6,600,000 for Grocer-Anchored Retail Center in Liberty Lake, WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $6,600,000 secured by an Albertson’s-anchored retail center located in Liberty Lake, WA. Demetri Koston and Skip Slavin, Vice Presidents for Newmark Realty Capital, worked on behalf of the Borrower, to arrange the 10-year fixed rate term.
While grocery-anchored retail is highly desirable security in the debt markets, this particular transaction posed some significant financing challenges; the anchor’s (Albertson’s) credit-related concerns and the market size was a limiting factor. However, strong operating history and experienced sponsorship worked in the Borrower’s favor, and Newmark identified various options and programs to best meet the Borrower’s objectives.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364, Skip Slavin at (206) 816-6814, or Michael Heagerty at 415-956-9854.
$10,200,000 for Mixed-Use Property in Las Vegas, NV
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $10,200,000 secured by 112,000 SF mixed-use property located in southeast Las Vegas. Christopher Funai, Vice President for Newmark Realty Capital in Las Vegas, procured the loan from a CMBS lender who provided the non-recourse loan which refinanced the borrower’s loan on the property at a substantially lower rate.
Newmark’s long-standing relationship with the lender was pivotal to the approval process, noting many capital sources, including banks, are not interested in investing in the Southern Nevada market. Because the borrower was able to maintain good occupancy on the property through a weak real estate market, the lender got comfortable with the project and funded the loan. No origination fees were charged to the borrower and the interest rate was below 5.0%.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6.5 billion representing 900 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Chris Funai at 702-304-0437 or Michael Heagerty at 415-956-9854.
$7,000,000 for Distribution Center in Chula Vista, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $7,000,000 for the South Bay Distribution Center, a 116,834 sq.ft. industrial park located in Chula Vista, California.
Jamie Dick, a Vice President of Newmark in their San Diego office, arranged the financing for the borrower, a San Diego based development and investment company. The lender, a New York based institutional lender, agreed to a 10 year term loan with a 30 year amortization period. The loan is non-recourse. Other terms and conditions were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
$2,300,000 for Somerset Place Apartments in Tucson, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,300,000 for Somerset Place Apartments. The subject property located north of the Davis Monthan Air Force base and less than one mile from Gene C. Reid Park Zoo, consists of 160 one bedroom standard and deluxe units. The property features a pool, spa, barbecue area, controlled access, and laundry facility and was 92% occupied at closing.
Adam Parker, a Vice President of Newmark’s Phoenix office, arranged the financing on behalf of the borrower through a banking relationship. The loan will be used to refinance the borrower’s impending Fannie Mae loan maturity. Specific details of the financing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
$200,000,000 for California Storage Financings in Los Angeles, CA
Newmark’s Los Angeles office has placed $200,000,000 of self-storage financing with four life insurance companies. The recent transactions include 25 loans secured by 28 storage facilities located throughout California. All of the non-recourse loans involved fixed interest rates as low as 4.0% and included a variety of loan structures such as forward commitments, long-term fully amortized loans, bridge to stabilization and acquisition. Arranging the financing on behalf of three private storage owners/operators were Newmark’s Peter Welsh, Braden Turnbull and Peter Hillakas.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
$42,000,000 for Commons in Palo Alto, CA
Jeff Wilcox, a Vice President in Newmark’s San Francisco office, has arranged $42,000,000 in construction and permanent financing for Palo Alto Commons, a premier Assisted Living facility in Palo Alto. The new financing replaced existing debt on the property and provided construction funds for the development of a new, 44 unit, 90 bed expansion wing. The financing was secured through HUD’s LEAN 232 Substantial Rehabilitation Program. It was underwritten and sourced through Prudential Huntoon Paige, LLC. The $42MM loan is one of the largest Substantial Rehabilitation financing facilities ever completed.
“It was a long process, but in the end, the terms of the deal were the best in the market. The combination of a sophisticated Borrower and a very experienced Lender made the process extremely smooth. It will be exciting to see the new building go up as there is a great demand for senior housing in Palo Alto.”
-Jeff Wilcox, Vice President of Newmark Realty Capital, Inc.
Terms of the transaction were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
$7,500,000 for Lowe’s Ground Lease in Spokane, WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $7,500,000 secured by a 13.20 acre lot. The security is located in Spokane,WA and is leased on a long-term basis to Lowe’s. Demetri Koston, Vice President for Newmark Realty Capital in Spokane, worked on behalf of the borrower, to arrange the 20-year term, fixed rate, non-recourse financing through a correspondent life insurance company. The loan will fully amortize over the 20 year fixed rate term. Newmark will service the loan.
While Lowe’s corporate credit is highly sought after in the capital markets, this particular transaction posed some unique and significant financing challenges related to the lessee, timing of occupancy, and relatively smaller market. Newmark effectively identified the lender best suited to overcome the challenges and meet the borrower’s objectives. Furthermore, the lender is a “par lender”, meaning no lender fees were incurred.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.
$15,000,000 for Signature Place Apartments in Tempe, AZ
Tim Storey, Principal of Newmark Realty Capital’s Phoenix office, arranged permanent financing in the amount of $15,000,000 in connection with the refinance of 300 units within a 440 unit luxury condominium project located in Tempe, Arizona. Newmark secured the financing on behalf of the borrower through a life insurance company. Specific terms of the loan were not disclosed.
The Class A, garden-style apartment/condominium complex was constructed in 1996 and converted to condos in 2006. All units are condo-platted and a total of 140 units were sold between 2006 and 2008. The subject property consists of one, two, and three bedroom units and features gated access, state-of-art fitness center, clubhouse, covered parking, detached garages, a resort style pool and spa, indoor racquet ball court, lighted tennis court, putting green, and professional landscaped grounds.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Tim Storey at 602-374-7854 or Michael Heagerty at 415-956-9854.
$4,087,000 for Timberline Place in Phoenix, AZ
Working on an exclusive basis, Newmark Realty Capital, Inc. has arranged a 5 year, $4,087,000 loan for the acquisition of 102-units within the 204-unit Timberline Place.
Tim Storey and Patrick Barkley, Principals of Newmark’s Phoenix office, worked with the buyer and arranged the acquisition financing with a local bank. Specific terms of the loan were not disclosed.
The Class A apartment/condominium complex was developed in 2000 and converted to condominiums in 2006 after an extensive upgrade. 102 of the units were sold from 2006 to 2010. The subject offers four different floor plans and each unit features 9-foot ceilings, alarm system, ceiling fans, full size washer/dryer, gas fireplace, complete kitchen and a private patio or balcony. Community amenities offered include heated pool and spa, outdoor fireplace and lounge, clubhouse with kitchen, flat screen television and java bar, fitness center, yoga studio, indoor basketball court, sauna and covered ramadas with barbecues and golf course views.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Tim Storey at 602-374-7854, Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.
$44,500,000 for 10 GSA’s in Michigan, Ohio, & Florida in Los Angeles, CA
Newmark has secured permanent financing in the amount of $44,500,000 for the refinance of ten properties housing various government agencies in Michigan, Ohio, and Florida. George Mitsanas, Braden Turnbull, and Amit Tyagi worked on an exclusive basis, on behalf of the borrower, to arrange the 10 year term, fixed rate, non-recourse financing through a CMBS loan execution. Loan proceeds were sufficient to refinance the properties’ existing debt together with substantially recapturing the borrower’s equity. Newmark will subservice the loan.
Developed on a build-to-suit basis, all of the ten properties are leased to the General Services Administration (“GSA”) and house federal agencies including the Social Security Administration, Internal Revenue Service, Immigration and Customs Enforcement, and Border Patrol. While the GSA’s US government credit is highly sought after in the capital markets, GSA lease financing presents significant financing challenges relating to special purpose improvements, secondary and tertiary market locations, high loan-basis and lease termination provisions among other issues. By structuring the subject financing to diversify these risks across a diverse portfolio of properties the borrower was able to achieve maximum loan proceeds together with an amortization that extends over 10 years beyond the portfolio’s weighted average lease maturity.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact Braden Turnbull at 310-846-5301, George Mitsanas at 310-846-5299 or Michael Heagerty at 415-956-9854.
$4,660,000 for Office Building On West Bayshore Rd. in Palo Alto, CA
$4,660,000 For Office Building On West Bayshore Rd in Palo Alto
San Francisco, CA
Newmark Realty Capital, Inc. arranged a 3-year, $4,660,000 bridge loan for 3600 West Bayshore Road, a 36,000 SF office building in Palo Alto.
Eric Von Berg and Tom Dao, both from Newmark’s San Francisco office, are working with Tarlton Properties, one of the building’s lead owners and its property manager, on repositioning the property. The new bridge loan provides time and flexibility so that Tarlton Properties and the owners can execute their strategy and take advantage of the upswing the in the Palo Alto office market.
“Our long working relationship with Eric and Tom and their close rapport with the funding source helped ensure a smooth closing.”
-John Tarlton, CEO of Tarlton Properties
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$15,600,000 for Coventry Health Care Building in Scottsdale, AZ
George Mitsanas and Tim Storey, Principals of Newmark Realty Capital, Inc., working on an exclusive basis, arranged a four year bridge loan for a repeat borrower. The loan carried a variable rate and was non-recourse. The loan included a provision for “good news” funds to cover tenant improvements and leasing commissions as new leasing occurs. The loan was funded by a large national bank.
The property is a 150,900 square foot, three-story, Class B office building located along Scottsdale Road in the heart of Scottsdale, Arizona. The property was 70% leased at closing. The subject was constructed in 1985 and features brick-clad exterior and wide open courtyards with generous amounts of shade, landscaping, and sitting areas that are spread throughout the courtyards. Parking is provided to the property via a subterranean parking garage.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact George Mitsanas at 310-846-5299, Tim Storey at 602-374-7854, or Michael Heagerty at 415-956-9854.
$91,000,000 for Retail Portolio in Seattle, WA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $91,000,000 on a portfolio of 13 retail properties located throughout the greater Seattle area for a private investor.
The 500,000 square foot portfolio of properties includes four grocery anchored centers and several well-located neighborhood retail properties. Properties within the portfolio range from QFC, Albertson’s and Whole Foods anchored shopping centers to a single tenant bank branch.
Michael Taylor, Dan Lowen and Patrick Taylor in Newmark’s Seattle office, worked together to arrange the financing for the property owners through Principal Real Estate Investors, one of the largest institutional real estate investors in the United States.
“We were attracted to the strong geographic and leasing characteristics of the 13 properties in this portfolio very early on in the process,” said Jeremy Driscoll, Investment Officer at Principal Real Estate Investors. “The Newmark team, borrower and our staff did an excellent job, ensuring everything went smoothly from start to finish.”
Because of the low leverage loan request, strong sponsorship and quality of the assets, there were multiple lenders interested in providing the financing. “Principal Real Estate Investors pursued the loan from the start,” said Mike Taylor, a principal with Newmark, “The borrowers had a very high level of confidence that Principal Real Estate Investors would get the deal funded per the terms quoted. All sides were very happy with the transaction.”
Principal Real Estate Investors manages or sub advises $38.4 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark originates loans through seven regional offices throughout the western United States. The company services a portfolio of over $6.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Michael Taylor at (206) 816-6816, Patrick Taylor at (206) 816-6808, Dan Lowen at (206) 816-6805 or Michael Heagerty at (415) 956-9854.
$8,000,000 for Acquisition Financing for the Atrium in Azusa, CA
Newmark Realty Capital, Inc. arranged a 10-year, $8,000,000 loan for The Atrium, a 124,228 SF office/industrial complex in Azusa, California.
The buyer of this property, Joe Blum of Rawson, Blum & Leon, involved his Newmark team in reviewing a number of assets for the acquisition. The loan for this purchase was lined-up prior to the property going under contract.
The Newmark Team: Eric Von Berg, Tom Dao and Kana Yujuico received a loan commitment from one of Newmark Realty Capital’s correspondent lenders and closed the loan 55 days later. Newmark worked with the lender and buyer to conduct their due diligence in a coordinated effort to achieve a successful and timely loan closing. Joe Blum remarked, “I thank Newmark for making this happen.” Newmark Realty Capital will be servicing this loan.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, the company services over $6.5 billion with over 800 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$8,300,000 for Shopping Center Bridge Financing in Carson, CA
Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged an acquisition/bridge loan for an extremely active southern California based retail developer. The 84,000 sq. ft. Albertson’s anchored Center is 50 years old and in need of updating. Both banks and bridge lenders were interested in providing financing on a very competitive basis and ultimately a local Bank loaned $8.3MM at a competitive interest rate.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with over 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Mark Ritchie at (310) 846-5303.
$26,000,000 for Apartment Complex in Portland, OR
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $26,000,000 for the Timber Ridge Apartments located in Portland, Oregon.
Built in 2010 by Polygon (a prominent northwest home builder) as part of the Timberland master-planned community, Timber Ridge Apartments include 238 units among 16 buildings. Originally planned as for-sale housing, all units have high-end finishes and amenities including wood burning fireplaces, granite countertops, 9’ ceilings, stainless appliances, and double vanities. Situated in Northwest Portland, the location features convenient access to Downtown Portland and the new Intel Campus.
Michael Taylor, a Principal in Newmark’s Seattle office, led a team which included George Mitsanas, a Principal in Newmark’s Los Angeles office and Patrick Taylor, an Associate in Newmark’s Seattle office. Together, they secured financing for the property owner, Guardian Timber Ridge LLC, with one of Newmark’s correspondent lenders.
With offices in Seattle, San Francisco, Sacramento, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full services mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Michael Taylor at (206) 816-6816, Patrick Taylor at (206) 816-6808, George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$40,000,000 for On The Park in Seattle, WA
Newmark Realty Capital has arranged permanent financing in the amount of $40,000,000 for On the Park Apartments located in Seattle, Washington.
On the Park is a mixed-use apartment community with 268 units located on 6 floors above a 44,598 square foot QFC grocery store.
Situated one block north of Ballard’s restaurant and shop scene and 10 minutes north of the Seattle CBD, On the Park is located in one of Seattle’s most desirable residential neighborhoods.
Michael Taylor, a Principal in Newmark’s Seattle office led a team which included George Mitsanas, a Principal in Newmark’s Los Angeles office and Patrick Taylor, an Associate in Newmark’s Seattle office. Together, they worked on an exclusive basis to secure financing for the property owner, SP/BIT Ballard on the Park, LLC, with one of Newmark’s correspondent lenders. Due to the quality of the asset, the strength of the sponsorship, and the modest leverage request, lender interest in the financing was extremely competitive.
With offices in Seattle, San Francisco, Sacramento, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full services mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Michael Taylor at (206) 816-6816, Patrick Taylor at (206) 816-6808, George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$6,000,000 for Long-Term Ground Lease in Escondido, CA
Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged a $6,000,000 forward funding commitment for a long term ground lease in Escondido, CA. The credit tenant was not going to take possession of the project for months after the loan closed, nor may not occupy the building for as long as a year after the loan funded. Mark structured this facility which enabled his client, a well-known southern California based retail developer to lock rate well in advance of funding, but also to fund long before tenant’ construction and occupancy of its 80,000 sq. ft. building.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with over 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Mark Ritchie at (310) 846-5303.
$50,000,000 for Ground Lease Financing in Foster City, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $50,000,000 for the refinance of four unsubordinated ground leases located in Foster City, California.
George Mitsanas and Tim Storey, Principals of Newmark Realty Capital, Inc. worked on an exclusive basis with the borrower to arrange the 20 year term, fixed rate, non-recourse structured financing with a correspondent life company. The loan will be serviced by Newmark. Pricing and terms were not disclosed.
The subject loan is secured by the fee interest in four separate parcels of land totaling 14.2 acres and located in the master-planned development known as Metro Center. The four parcels are home to multiple Class A office buildings, a Safeway anchored shopping center and a Wells Fargo bank branch. Metro Center is considered to be one of the Peninsula’s premier office addresses.
According to Mr. Mitsanas, “Newmark has a lot of experience in arranging financing for ground lease deals. We have financed both the fee and leasehold interests for major office parks like Metro, hotels, apartments, regional malls and unique income property facilities.” According to Mr. Storey, “A number of major life companies expressed interest in our assignment. We ultimately went with the life company who stepped up and provided both flexibility and excellent terms.”
With offices in Los Angeles, San Francisco, Phoenix, Sacramento, Seattle, Irvine and Las Vegas, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, please contact George Mitsanas at 310-846-5299, Tim Storey at 602-374-7854 or Michael Heagerty at 415-956-9854.
$140,000,000 for Six Properties in Los Angeles, CA
Newmark Realty Capital’s Los Angeles office arranged a $140MM refinancing of six multi-family properties totaling 1,906 units. The six apartment projects are located in Los Angeles, CA, Portland, OR, Denver, CO, Chicago, IL, Dallas, TX and Raleigh, NC.
Mark Ritchie, a Principal of Newmark, arranged this financing on behalf of his west coast based real estate fund client through Newmark’s 20 year correspondent, Great West Life. The financing had a seven year fixed rate and interest only component.
According to Mr. Ritchie, “The apartments were 95%+ occupied, institutional grade complexes at a 50% loan to value which made this an extremely competitive financing.” Great West’s combination of competitive rate, early rate lock and structure separated them from other market participants.
Assisting on the transaction were Newmark’s Associate Vice President, Bahman Mirhashemi, and Production Associate, Stacey Matwijiw-Coxon.
With offices in San Francisco, Los Angeles, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western united states. The company services $6 billion of nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with the designation.
For more information on this transaction please contact Mark Ritchie at 310-846-5303 or Michael Heagerty at 415-956-9854.
$9,000,000 for Apartment in Springfield, IL
Robert Slatt, a Principal, and Jeff Wilcox, a Vice President, both of Newmark’s San Francisco office, arranged financing in the amount of $9,000,000 for an Active Senior Living Apartment Building located in Springfield, IL.
The 129 unit building had a maturing CMBS loan that came due in early January. Newmark was able to secure the financing through Ladder Capital Finance, which met the borrower’s closing time requirements. Pricing and terms of the transaction were not disclosed.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services $6 billion of nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with the designation.
For more information on this transaction please contact Robert Slatt at 415-946-6246, Jeff Wilcox at 415-946-6239 or Michael Heagerty at 415-956-9854.
$41,500,000 for Shopping Center in Los Angeles, CA
George Mitsanas, a Principal of Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $41,500,000, with a 10 year term, amortized over 30 years, for the Wilshire Union Shopping Center. Mr. Mitsanas worked on an exclusive basis to arrange the financing with a correspondent life company. He also assisted with the construction financing during the late 1990s and arranged the previous permanent loan in 2001.
The subject property is a 213,000 square foot seasoned retail center generating store sales at the top of their respective chains. The subject is anchored by Home Depot, Food-4-Less and Rite-Aid. Some strengths behind the property are its excellent occupancy history and experienced LA based private borrower. The retail center is located on Wilshire Boulevard, just west of downtown Los Angeles. Arguably, the location is one of most dense neighborhoods in Los Angeles. Newmark will service this loan.
Over the past two decades, Mr. Mitsanas has arranged a wide variety of retail transactions including construction, permanent and joint ventures for single tenant, strip centers, neighborhood centers, power centers, community centers and regional malls.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$244,000,000 for Office Building in San Diego, CA
Newmark Realty Capital, Inc. has arranged $120,000,000 in construction and $124,000,000 in permanent financing for a 248,882 square foot Class A office complex leased by the US Government in San Diego, CA.
Working on an exclusive basis, George H. Mitsanas, a Principal of Newmark, along with Associate Vice President, Peter Hillakas, arranged the financing with a correspondent pension fund. Both the construction and permanent loans will be serviced by Newmark. Specific terms of the financing were not disclosed. Including this transaction, Newmark arranged over $1,000,000,000 in financing for GSA leased properties owned by its clients over the past two years. The properties are located throughout the Continental US and Hawaii and were leased by a variety of US federal agencies. According to Mr. Mitsanas, “The project will create hundreds of jobs for the San Diego area. Over the years we have financed billions of dollars of office buildings throughout the nation but during these economic times, we know this fine project will provide a much needed economic boost to the area.”
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with nearly 800 loans. In addition to credit lease transactions, Newmark has extensive experience in providing capital for office, retail, industrial, hospitality and muli-family projects. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$12,500,000 for Mission Gorge Shopping Centre in San Diego, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $12,500,000 for the refinance of the Mission Gorge Shopping Center located in San Diego, California.
James Dick, a Vice President in Newmark’s San Diego office, arranged the 10 year term, fixed rate, non-recourse financing for a private client. The lender was a national bank. Pricing and terms were not disclosed.
Newmark Realty Capital Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders which utilize Newmark’s loan origination, closing and loan servicing capabilities. Established in 1991, Newmark is currently staffed by approximately 50 employees located in offices throughout the western United States. The company services over $6 Billion in mortgages for various lender / investor clients. Newmark is a Standard and Poor’s rated Primary Servicer and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick, License # 01149466 at (858) 793-8400 or Michael Heagerty, License # 1106381 at (415) 956-9854. Newmark Realty Capital, Inc. License # 01188877.
$12,000,000 for Shopping Center Refinancing in San Diego, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $12,000,000 for the refinance of Independence Square Shopping Center located in the Kearny Mesa area of San Diego, California.
James Dick, a Vice President in Newmark’s San Diego office, arranged the 10 year term, fixed rate, non-recourse financing for a private client. The lender was a national bank. Pricing and terms were not disclosed.
Newmark Realty Capital Inc. is a full service mortgage banking firm headquartered in San Francisco, California. Newmark has a strong lineup of correspondent lenders which utilize Newmark’s loan origination, closing and loan servicing capabilities. In addition to arranging loans for income property borrowers, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in 1991, Newmark is currently staffed by approximately 50 employees located in 10 offices throughout the western United States. The company services over $6 Billion in mortgages with nearly 800 loans for various lender/investor clients. Newmark is a Standard and Poor’s rated Primary Servicer and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick, License # 01149466 at (858) 794-1418 or Michael Heagerty, License # 1106381 at (415) 956-9854. Newmark Realty Capital, Inc. License # 01188877.
$12,230,000 for Industrial Building in Sylmar, CA
Newmark Realty Capital, Inc. has arranged financing in the amount of $12,230,000 for the Sylmar Cascades industrial building located in Sylmar, CA.
Terri Slocombe, a Principal in the San Francisco office, and Braden Turnbull, a Principal in the Los Angeles office, arranged the permanent financing for the 200,632 square foot building that was constructed in 2001 and is currently occupied by three tenants.
The financing provides a 10-year fixed rate term with a 25-year amortization, and was placed with State Farm Life Insurance Company.
With offices in San Francisco, Los Angeles, Irvine, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Terri Slocombe, License # 976248 at (415) 956-9898, Braden Turnbull, License # 01132723 at (310) 846-5301 or Michael Heagerty, License # 1106381 at (415) 956-9854. Newmark Realty Capital, Inc. License # 01188877.
$10,500,000 for 2 Mixed Use Buildings in San Francisco, CA
Newmark Realty Capital, Inc. has arranged $10,500,000 in financing for two mixed use buildings located in the San Francisco Bay Area.
The first building, located at 2111 Mission Street in San Francisco, is a 100,000 SF office over first floor retail building that caters to local non-profit, creative and technology companies. The $5.5MM loan was structured on a 10 year term with a 30 year amortization. The loan was funded by one of Newmark’s correspondent insurance company lenders.
The second building, located at 270 University Avenue, is within the heart of downtown Palo Alto. Built in 2005, the property won a Design Merit Award in 2006 from the American Institute of Architects. The non-recourse, $5MM loan was structured on a 10 year term with a 30 year amortization. Newmark placed the loan with a national bank. Jeff Wilcox, a Vice President in Newmark’s San Francisco office, secured financing for both projects.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its debt advisory group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with the designation.
For more information on this transaction please contact Jeff Wilcox, License # 01843180 at (415) 946-6239 or Michael Heagerty, License # 1106381 at (415) 956-9854. Newmark Realty Capital, Inc. License # 01188877
$6,300,000 for Stand-Alone Retail Project in Palm Desert, CA
Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged $6,300,000 in financing for the purchase of a to-be-vacated Toys R’ Us building in Palm Desert, CA. The Borrower, a Southern California based retail developer required acquisition financing for a replacement tenant for the 46,000 sq. ft. box with the new tenant not taking possession until months after loan closing. According to Ritchie, this $6.3MM financing combined the best elements of a bridge facility and a long term loan rolled into one. The name of the new tenant was unavailable.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with over 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Mark Ritchie at (310) 846-5303.
$10,010,000 for Multi-Family Complex in Tucson, AZ
Newmark Realty Capital, Inc. recently arranged financing in the amount of $10,010,000 for The Woods Apartments in Tucson, Arizona.
Adam Parker, a Vice President, and Patrick Barkley, a Principal, both of Newmark’s Phoenix office, arranged the permanent financing for the 359-unit, Class “B” apartment complex built in 1985. The Woods Apartments is located in the heart of Midvale Park, a well established master planned community. The financing was placed with a correspondent lender for Newmark.
With offices in Phoenix, Los Angeles, San Francisco, Sacramento, Seattle, Irvine and Las Vegas, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion comprised of approximately 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Adam Parker at (602) 354-5275 or Michael Heagerty, License # 1106381 at (415) 956-9854. Phoenix License number: CBKBR 0116671
$4,830,000 for Walgreens in Phoenixville, PA
Newmark Realty Capital, Inc. has arranged permanent acquisition financing in the total amount of $4,830,000 for the purchase of the Walgreen’s Store and Pharmacy building located in Phoenixville, Pennsylvania.
James Dick, a Vice President of Newmark, working with a New Jersey based buyer, arranged the acquisition financing with CUNA Mutual Life Insurance, one of Newmark’s correspondent lenders. CUNA was selected due to their willingness to lock the rate at loan application signing and structure the loan as a fixed rate, fully amortizing loan, which is co-terminus with the Walgreen’s lease. Further terms and pricing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders which utilize Newmark’s production, closing and loan servicing capabilities. In addition to arranging loans for income property borrowers Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in 1991, Newmark is currently staffed by approximately 50 employees located in offices throughout the western United States. The company services over $6 Billion in mortgages for various lender/investor clients. Newmark is a Standard and Poor’s rated Primary Servicer and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick, License # 01149466 at (858) 794-1418 or Michael Heagerty, License # 1106381 at (415) 956-9854. Newmark Realty Capital, Inc. License # 01188877.
$1,450,000 for Retail Center in Mesa, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $1,450,000 for the Coppertree Plaza in Mesa, Arizona.
Adam Parker, a Vice President in Newmark’s Phoenix office, arranged the financing through one of its correspondent life insurance company lenders. The subject property is a 34,500 square foot, single-story retail center that was 92 percent occupied at closing. The center enjoys excellent access and visibility along Baseline Road, one of Mesa’s busiest thoroughfares.
With offices in Phoenix, Los Angeles, San Francisco, Sacramento, Seattle, Irvine and Las Vegas, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Adam Parker at (602) 354-5275 or Michael Heagerty at (415) 956-9854. License Number: CBKBR 0116671
$47,500,000 for CA & NV Apartment Complexes in West Los Angeles, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $47,500,000 for two apartment buildings in Nevada and California.
$26,000,000 in financing for The Positano, a 360 unit complex in Las Vegas.
$21,500,000 in financing for The Poinsettia, a 136 unit complex in West Los Angeles.
Working on an exclusive basis, the Newmark financing team, headed by Principal George Mitsanas, along with Associate Vice President Monique Monzon and Associate Victor Gavallos, arranged the financing with a life company and agency lender. Both loans will be serviced by Newmark. Specific terms of the financing were not disclosed.
Over the past two decades, Mr. Mitsanas has arranged a wide variety of Multi-Family transactions including construction, permanent, joint venture, REIT OP unit and sales, totaling several billion dollars.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services nearly $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$6,000,000 for Rehabilitation Facility in Las Vegas, NV
Newmark Realty Capital, Inc. has arranged construction and permanent financing in the amount of $6,000,000 for a 38-room, 28,870 square foot freestanding transitional rehabilitation facility located in Las Vegas, Nevada.
The subject property is leased to a single-tenant operator on a long-term basis. The center is one of several operated by the tenant in the region. The rehabilitation facilities are specifically designed for patients recovering from acute health issues such as mild strokes and hip replacements.
Demetri Koston and Chris Funai, both Vice Presidents of Newmark, represented the developer and arranged the financing through a bank. In addition to securing the construction loan, Demetri and Chris were able to arrange a mini-permanent loan to take-out the construction loan upon project completion.
With offices in Las Vegas, San Francisco, Sacramento, Seattle, Los Angeles, Irvine and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Demetri Koston at (509) 720-6364, Chris Funai at (702) 304-0437 or Michael Heagerty at (415) 956-9854.
$10,563,000 for Apartment Complex in La Mesa, CA
Newmark Realty Capital, Inc. has arranged refinancing in the amount of $10,563,000 for the Murray Manor Apartments located in La Mesa, California. The subject property is a 218 unit walk-up apartment complex built in 1971.
Thomas Dudley, a Principal in Newmark’s Irvine office, arranged the financing under the HUD Section 223(a)(7) program as the borrower was looking to take advantage of current historically low rates. Terms and pricing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in offices throughout the western United States. The company services nearly $6 billion comprised of approximately 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-bank / insurance chartered companies with this designation.
For more information on this transaction please contact Thomas Dudley at (949) 777-9033, or Michael Heagerty at (415) 956-9854.
$4,800,000 for CVS Drugstore in Redondo Beach, CA
Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged $4,800,000 in financing for the CVS Drug Store on Pacific Coast Highway in Redondo Beach, CA. The lender for this fully amortizing $4.8MM loan was financed with Newmark’s life company correspondents.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services nearly $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Mark Ritchie at (310) 846-5303.
$163,000,000 for US Government Building in Kapolei, HI
Newmark Realty Capital, Inc. has arranged $83,000,000 in construction and $80,000,000 in permanent financing for a 155,000 square foot, LEED Gold, office complex leased by the U.S. Government in Kapolei, Hawaii.
The Newmark financing team, headed by Principal George Mitsanas, along with Associate Vice President Peter Hillakas, Principal Mark Ritchie and Vice President James Dick, arranged the financing with a correspondent lender. Both the construction and permanent loans will be serviced by Newmark. Specific terms of the financing were not disclosed.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services nearly $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, Mark Ritchie at (310) 846-5303, James Dick at (858) 794-1418 or Michael Heagerty at (415) 956-9854.
$2,000,000 for Entertainment Venue Acquisition in San Diego, CA
Newmark Realty Capital, Inc. has arranged permanent acquisition financing in the total amount of $2,000,000 for the purchase of the 4th & B entertainment venue located in downtown San Diego, California.
James Dick and Adam Parker, both with Newmark, arranged the acquisition financing for the property with a correspondent insurance company who was able to lock the loan’s interest rate at application signing thereby eliminating the risk that the rate would potentially increase during the loan processing and purchase/sale escrow period. Terms and pricing of the loan were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and loan servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees located in offices throughout the western United States. The company services over $5.5 billion in mortgages for various lender/investor clients. Newmark is a Standard and Poor’s rated Primary Servicer and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick at (858) 794-1418, Adam Parker at (602) 354-5275 or Michael Heagerty at (415) 956-9854.
$39,000,000 for Retail Center Acquisition Financing in Seattle, WA
Newmark Realty Capital, Inc. has arranged acquisition financing in the amount of $39,000,000 for the $78,100,000 purchase of Westwood Town Center located in Seattle, Washington.
Westwood Village is a ‘lifestyle center’ with a gross leasable area of over 400,000 square feet located in the heart of West Seattle. In addition to a 100,000 square foot Target store, the center includes QFC, Barnes and Noble, Bed, Bath and Beyond, Staples, Marshalls and Rite Aid. The property was originally built in the 1960’s and was extensively remodeled and expanded between 2002 and 2005.
Michael Taylor, a Principal in Newmark’s Seattle office, arranged the new financing with TIAA for the purchaser of the property, MEPT Westwood Village, LLC. Mr. Taylor had arranged financing for the previous owners in 2004 and he was able to negotiate new loan terms that worked for TIAA and accommodated the requirements of the new owner.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its debt advisory group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-bank / insurance chartered companies with this designation.
For more information on this transaction please contact Michael Taylor at (206) 816-6816, or Michael Heagerty at (415) 956-9854.
$3,000,000 for San Diego Apartment Building in San Diego, CA
Newmark Realty Capital, Inc. has arranged permanent refinancing in the total amount of $3,000,000 for a 49-unit apartment complex located in San Diego, California.
James Dick, a Vice President with Newmark, arranged the refinancing for the property with a correspondent insurance company. The insurance company was able to lock the rate at the loan application signing, thereby eliminating the risk that the rate would increase while the loan request was being processed. Terms and pricing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and loan servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees located in seven regional offices throughout the Western United States. The company services over $5.5 billion in mortgages for various lender/investor clients. Newmark is a Standard and Poor’s rated Primary Servicer and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick at (858) 794-1418 or Michael Heagerty at (415) 956-9854.
$6,250,000 for Mixed-Use Building in San Francisco, CA
Newmark Realty Capital, Inc. has arranged a $6,250,000 loan for the Audiffred Building, a 25,000 square foot mixed-use building located one block south of the Ferry Building along the Embarcadero in downtown San Francisco. The Audiffred Building is a San Francisco landmark and is home to the Boulevard restaurant, which is once again a finalist for the city’s best restaurant presented by the James Beard Foundation.
Robert Slatt, a Principal at Newmark, worked on an exclusive basis to secure a forward commitment to refinance the borrower’s impending CMBS loan maturity. The loan was funded by one of Newmark’s correspondent insurance company lenders.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its debt advisory group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with the designation.
For more information on this transaction please contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$23,200,000 for Office Complex Refinancing in Palo Alto, CA
Newmark Realty Capital, Inc. arranged a 5-year, $23,200,000 loan secured by a 45,319 square foot building in downtown Palo Alto. The subject property is leased to Switch & Data, who use the building as a collocation facility.
Eric Von Berg, a Principal at Newmark, and Tom Dao, an Associate Vice President at Newmark, created a competitive market for this transaction showing the loan opportunity to 55 lenders: life insurance companies, conduits and banks. Competition for this deal allowed the borrower, Menlo Equities, to achieve the best rate and flexible terms. Ken Wong, Chief Financial Officer at Menlo Equities, commented: “Eric did his homework becoming very knowledgeable about this property and its unique value as an internet exchange site. We are happy with the loan terms and lender we selected.”
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$20,250,000 for Retail Center in Omaha, NE
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $20,250,000 for a 243,456 square foot power center located in Omaha, Nebraska. The center is anchored by Best Buy, Sports Authority and Michael’s and shadow anchored by a 175,000 square foot Super Target store.
George Mitsanas, a Principal of Newmark, and Ted Norman, head of the firm’s Debt Advisory practice, arranged the financing for the property. The sponsors acquired the construction loan for the project from a bank and immediately acquired the deed from the original developer. The permanent financing completed the recapitalization of the project. The lender was a correspondent insurance company of Newmark. Terms and pricing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299, Ted Norman at (817) 885-8010 or Michael Heagerty at (415) 956-9854.
$2,800,000 for San Francisco Industrial Property in San Francisco, CA
Newmark Realty Capital, Inc. arranged a 10-year, $2,800,000 loan secured by a 51,300 square foot light industrial building leased to the iconic Torani flavored syrup company.
Eric Von Berg, a Principal at Newmark, and Tom Dao, an Associate Vice President at Newmark, placed this loan with Symetra Life Insurance Company. Brad Skepner, one of the property owners, commented about the transaction: “Eric and Tom helped us navigate through the application, approval and documentation process. We are very happy with the result.”
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$11,800,000 for Business Center Refinancing in Orinda, CA
Newmark Realty Capital, Inc. arranged a 15-year $11,800,000 loan, with payments amortized over 25 years, for Pine Grove Business Center, an 88,000 square foot office building located in Orinda, CA.
Eric Von Berg, a Principal at Newmark, and Tom Dao, an Associate Vice President at Newmark, called on many lenders to source the best rate and terms. The selected life insurance company lender was impressed with the excellent tenancy history, well managed property and strong sponsorship. Using creative structuring, the lender got comfortable with near-term rollover risk in the rent roll. The borrower was happy to get this loan refinanced at a historically low market rate that will be fixed for 15 years. Brad Skepner, one of the property owners, commented, “Eric and Tom started looking at this transaction early and persisted through many months in developing the right structure that attracted the right lender for us.”
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$38,000,000 for San Jose Apartment Complex in San Jose, CA
Newmark Realty Capital, Inc. arranged financing in the amount of $38,000,000 for the Fruitdale Station Apartment Complex located in San Jose, CA.
Terri Slocombe and Mitch Zeemont, Principals of Newmark Realty Capital, Inc.’s San Francisco office, arranged the permanent financing for the 246-unit, Class A apartment complex. Completed in 2008, the first phase of the project was designed by the award-winning architectural firm Seidel Holzman and offers spacious units all overlooking park or landscaped courtyard settings.
Fruitdale Station is located across the street from the VTA light transit rail, which offers one-stop access to downtown San Jose. The financing provides a 10-year fixed rate term and a 30-year amortization, and was placed with a life insurance company.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information regarding this transaction please contact Mitch Zeemont at (415) 956-9885, Terri Slocombe at (415) 956-9898 or Michael Heagerty at 415-956-9854.
$7,300,000 for Storage Center in Mountain View, CA
Newmark Realty Capital, Inc. arranged a fixed-rate, 15-year $7,300,000 loan for Peninsula Storage Center, a 789-unit, one and two-story public storage facility in Mountain View.
Eric Von Berg, a Principal at Newmark, and Tom Dao, an Associate Vice President at Newmark, were able to get aggressive quotes from a number of life insurance companies due to the project’s in-fill location, excellent maintenance and strong sponsorship. John Hancock Life Insurance won the deal with excellent pricing and flexibility. “We’re very pleased with the loan and the timely closing” said Scott Ward, Vice President of Classic Communities, who developed and owns the property. This loan adds to a growing relationship between John Hancock and Newmark Realty Capital.
John Hancock, combined with its parent company, Manulife Financial Corporation, comprises one of the largest life insurers worldwide. The Real Estate Finance Group invests money nationally, on behalf of the John Hancock’s General Account. At year end 2010, the Group managed a commercial property loan portfolio in excess of $12 billion.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$3,500,000 for Industrial Building in Vista, CA
Newmark Realty Capital, Inc. has arranged permanent refinancing in the total amount of $3,500,000 for a 96,745 square foot, single tenant industrial property located in Vista, California.
James Dick, a Vice President of Newmark, arranged the refinancing for the property used primarily by the tenant as a cold-storage facility. The property includes a 50,000 square foot freezer, a 10,000 square foot refrigerator and a 5,000 square foot USDA meat and seafood prep facility as well as office space and 136 parking spaces. The lender was a correspondent insurance company of Newmark. Terms and pricing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick at (858) 794-1418 or Michael Heagerty at (415) 956-9854.
$163,000,000 for Apartment Portfolio in Orange County, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $163,000,000 on a four property, 1,057 unit, class A apartment portfolio located in Orange County, California for a major privately held investor.
Peter G. Welsh, a Principal of Newmark, along with Associate Vice President Peter Hillakas, arranged the financing with a correspondent life insurance company. The loans will be serviced by Newmark. Peter Welsh was quoted as saying, “we are currently seeing plenty of capital chasing high quality multi-family properties, in good locations with strong sponsors at yields competitive with or superior to the agency lenders.”
With offices in Los Angeles, San Francisco, Irvine, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Peter Welsh at (310) 846-5298, Peter Hillakas at (310) 846-5315 or Michael Heagerty at (415) 956-9854.
$10,000,000 for Industrial Building in San Diego, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $10,000,000 for a 149,226 square foot, single-tenant, light industrial / research & development building. The subject property is located in the University Towne Centre area of San Diego County. The building serves as a major R&D and manufacturing facility for a publicly-traded biopharmaceutical company.
Thomas Dudley, a Principal of Newmark, arranged the financing on behalf of one of Newmark’s insurance company correspondents. Specific terms of the loan were not disclosed.
With offices in Los Angeles, Irvine, San Francisco, Sacramento, Seattle, Phoenix, and Las Vegas, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information regarding this transaction please contact Thomas Dudley at (949) 777-9033 or Michael Heagerty at (415) 956-9854.
$4,650,000 for Spokane Valley Offices in Spokane, WA
Newmark Realty Capital, Inc. has arranged total financing in the amount of $4,650,000 for properties in the Pinecroft Business Park located in Spokane Valley, Washington. Pinecroft Business Park is one of the premier suburban office centers in the Spokane metro area.
The security for the loans includes two stabilized Class A office properties, together totaling over 75,000 square feet of prime office space. The two properties are located in a highly desirable area off Pines Avenue, a main arterial through Spokane Valley. Pinecroft Business Park was developed in several phases by the borrower, and the Park will continue to offer excellent opportunities to tenants seeking reasonable alternatives to space in Spokane’s CBD.
Demetri Koston, a Vice President of Newmark in Spokane, secured non-recourse financing for the borrower with Newmark’s correspondent life insurance companies. The interest rates for the loans were fixed for a period of 10-15 years, but additional loan terms were not disclosed. Mr. Koston has worked in Spokane since 2009.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction contact Demetri Koston at (509) 378-8596 or Michael Heagerty at (415) 956-9854.
$6,600,000 for Office Building in San Diego, CA
Newmark Realty Capital, Inc. has arranged permanent refinancing in the total amount of $6,600,000 for a multi-tenant office building in downtown San Diego. The building, managed by Cethron Property Management Company, is located at 1111 6th Avenue. The six-story building contains 54,761 square feet and includes 25 parking spaces.
James Dick, a Vice President of Newmark, arranged the refinancing for the property. The lender was a correspondent insurance company of Newmark. Terms and pricing were not disclosed.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick at (858) 794-1418 or Michael Heagerty at (415) 956-9854.
$7,482,000 for Chavez Markets in San Jose, CA
Newmark Realty Capital, Inc., working on an exclusive basis, has arranged acquisition financing in the amount of $7,482,000 for a freestanding Chavez Markets Grocery Store located in the newly constructed Umbarger Square Shopping Center in San Jose, California. Chavez Markets is a family-owned company that operates seven locations throughout the Bay Area.
Braden Turnbull and Robert Slatt, Principals in the Los Angeles and San Francisco offices respectively, worked with Chavez Markets to obtain financing from a regional bank. The bank provided $4,082,000 on a 25 year fully amortizing loan while the remaining $3,400,000 was funded through the Federal Government’s 504 SBA lending program on a 20 year fully amortizing basis. The borrower was able to qualify for the SBA’s increased energy efficiency program which allowed the SBA to lend more than their maximum $2,000,000 legal limit.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Braden Turnbull at (310) 846-5301, Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$2,000,000 for R&D Building Financing in Carlsbad, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,000,000 for a single tenant R&D building located in Carlsbad, California. The 41,626 square foot building has been occupied by the same tenant since the building was constructed in 1995.
Thomas Dudley, a Principal at Newmark, arranged the financing on behalf of one of its insurance company servicing correspondents. Specific terms of the loan were not disclosed.
With offices in Irvine, Los Angeles, San Francisco, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Thomas Dudley at (949) 777-9033 or Michael Heagerty at (415) 956-9854.
$2,700,000 for Retail & Office Portfolio in Sacramento, CA
Newmark Realty Capital, Inc. arranged the refinancing of three properties in Sacramento and Placer Counties owned by the same borrower. The occupancy levels for the three properties ranged from 80% to 100%. The refinancing efforts allowed the borrower to reduce the interest rates by more than 1.5%
Eric Von Berg, a Principal of Newmark, and Tom Dao, an Associate Vice President of Newmark, took the financing request to market. Newmark’s correspondent, StanCorp Mortgage Investors, LLC, offered the borrower a menu of options including fixed rates from 3 years to 10 years and a variety of amortization schedules. Newmark will service these loans for its correspondent lender, which means the borrower can contact Newmark with any loan or property related issues during the life of the loan.
Mike Franzoia, Vice President for the borrower, said, “Newmark efficiently packaged the loan applications and managed them through approval and closing all within 60 days. We were extremely satisfied with the smooth closing process.”
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark is rated as a Primary Servicer by Standard and Poors and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$527,000,000 for GSA Portfolio Financing in Los Angeles, CA
Newmark Realty Capital, Inc. has arranged $271,000,000 in construction and $256,000,000 in permanent financing for an 880,523 square foot, four-building portfolio of office/industrial buildings leased by the US Government.
Working on an exclusive basis, George H. Mitsanas, a Principal of Newmark, along with Associate Vice President, Peter Hillakas, arranged the financing with a correspondent pension fund. Both the construction and permanent loans will be serviced by Newmark. Specific terms of the financing were not disclosed. The properties consist of the new National Archive and Records Administration Headquarters in St. Louis, MO and three new Regional FBI facilities located in Cincinnati, OH, Minneapolis, MN and Portland, OR. The St. Louis Headquarters will be the largest national archives facility outside of Washington D.C. housing documents on both military and civil service employees.
Due to the numerous parties involved and the complexities of each location, the first financing closed in the 4th Quarter of 2009 with the final property closing in October 2010. Challenges in the transaction included a ground lease, option on a facility bond and tight timeframes upon awarding the contract. Completion dates are estimated to be June 2011 through June 2012. According to local officials in the four states where the projects are located, on a cumulative basis, the portfolio will generate several thousand construction jobs and a similar amount of permanent jobs once the facilities are opened. According to Mr. Mitsanas, “We dealt with a first class family owned development company and a top notch general account pension fund who succeeded where others previously failed. Although our firm has provided capital for many portfolios throughout the years, capitalizing this transaction in today’s weak economy is particularly special due to the number of jobs it created.”
With offices in Los Angeles, San Francisco, Irvine, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. Newmark is a S&P rated servicing company. In addition to credit lease transactions, Newmark has extensive experience in providing capital for office, retail, industrial, hospitality and multi-family projects.
For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$3,700,000 for Marymount College Financing in San Pedro, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $3,700,000 for Marymount College’s student housing project located in San Pedro, California. The 30-unit residential project just underwent a major remodel which is scheduled to be completed in December. George H. Mitsanas, a Principal at Newmark, arranged the financing on behalf of one of its servicing correspondents. Specific terms of the loan were not disclosed.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$4,000,000 for Apartment Building in San Francisco, CA
Newmark Realty Capital, Inc. arranged financing in the amount of $4,000,000 for a 53-unit, seven-story Art Deco apartment building located at 640 Mason Street, in the Nob Hill neighborhood of San Francisco. Built in 1932, the property is one of the prime examples of Art Deco architecture in San Francisco, and is owned and managed by local investor George Orbelian.
Eric Von Berg, a Principal of Newmark, and Tom Dao took the financing request to market among Newmark’s life insurance and Fannie Mae / Freddie Mac correspondents as well as all direct lenders.
Lincoln Financial Group came in with the lowest rate and met the borrower’s preference for a 25-year, fully amortizing loan. George Orbelian’s expert management and attention to detail saw the meticulously maintained, restored and upgraded property sail through inspections allowing the efficient team of third party consultants put together by Newmark to work together with the lender and borrower to expeditiously close the loan in less than 40 days. Newmark will be servicing this loan for its correspondent lender, which means the borrower can call Newmark with any loan or property related questions or issues that may come up during the life of the loan.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$4,627,000 for Five Restaurant Portfolio in San Diego, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the total amount of $4,627,000 for a multi-state portfolio of five restaurant properties located in California and Texas.
James Dick, a Vice President of Newmark, arranged the financing for the portfolio which consisted of Jack-in-the-Box and IHOP restaurants. The lender, a correspondent insurance company of Newmark, agreed to 5 separate loans all of which amortize over a 25 year schedule. The lender also allowed for different loan terms which allowed the borrower to structure their loan maturities and prepayment windows in concert with the maturities of the respective restaurant leases in place. All five loans are fixed rate and were closed simultaneously.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick at (858) 794-1418 or Michael Heagerty at (415) 956-9854.
$6,500,000 for Multi-Family Complex in Tempe, AZ
Newmark Realty Capital, Inc. recently arranged permanent financing in the amount of $6,500,000 in connection with the refinance of a 160-unit apartment complex located in Tempe. Adam Parker of Newmark’s Phoenix office secured the financing on behalf of the borrower through Freddie Mac. Specific terms of the loan were not disclosed.
The garden style apartment complex was built in 1988 and consists of 160-units within seventeen (17) buildings. The subject property contains both one bedroom and two bedroom units and features a fitness center, clubhouse, covered parking, swimming pool and spa and professionally landscaped grounds.
With offices in Phoenix, San Francisco, Sacramento, Los Angeles, Irvine, Las Vegas and Seattle, Newmark Realty Capital, Inc. is a full-service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-bank / non-insurance chartered companies with this designation.
For more information on this transaction please contact Adam Parker at (602) 354-5275 or Michael Heagerty at (415) 956-9854.
$3,200,000 for Arroyo Plaza in Livermore, CA
Newmark Realty Capital, Inc. arranged a 10-year $3,200,000 loan for Arroyo Plaza in Livermore, California. The subject property is a 30,000 square foot, single-story retail center anchored by OfficeMax and shadow anchored by Home Depot, Walmart and Kohl’s.
Eric Von Berg, a Principal of Newmark, sought a solution that was specifically tailored for this acquisition, which was 86% occupied at loan closing. Eric found a lender that understood the quality of the real estate and in place- income from two tenants and was willing to provide the flexibility required by the borrower. Marcus & Millichap’s Senior Vice President of Investments, Ted Kokernak, the agent for the buyer commented that “Newmark was excellent to work with.” Newmark will be servicing this loan for its correspondent lender, which means the borrower can call Newmark with any loan or property related questions or issues that may come up during the life of the loan.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$8,125,000 for Sunnyvale and Concord Office Buildings in Sunnyvale, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $8,125,000 for two multi-tenant office buildings in the Bay Area.
Robert Slatt, a Vice President in the San Francisco office, arranged a $4,600,000 refinance on a high end office / R&D building in Sunnyvale, California. The lender, a correspondent insurance company of Newmark, agreed to finance the new loan on a 10 year fixed rate term amortizing over 25 years. The $4,600,000 loan reflected a 75% LTV based on both lender and appraised value.
In addition, Robert Slatt arranged permanent financing with cash out in the amount of $3,525,000 on a multi-tenant office building located in Concord, California. The lender, a correspondent insurance company of Newmark, structured the new loan on a 20 year term amortizing over 22 years with the initial interest rate fixed for 5 years.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its debt advisory group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a primary servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on these transactions, contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$4,900,000 for FedEx & National Oilwell Varco Buildings in Carson, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $4,900,000 for two single tenant industrial buildings in Southern California and Eastern Utah.
Robert Slatt, a Vice President in the San Francisco office, arranged a $2,400,000 refinance on a single tenant industrial building leased to FedEx Corporate in Carson, California. The lender, a national bank, agreed to finance the new loan on a 10 year fixed rate term amortizing over 30 years. FedEx has 9 years remaining on their current lease term.
In addition, Robert Slatt arranged permanent acquisition financing in the amount of $2,500,000 on a single tenant industrial building leased to National Oilwell Varco, LP in Vernal, Utah. National Oilwell Varco, LP services a variety of downhole tools and rents them to the oilfield industry. The lender, a national insurance company, financed the acquisition on a 15 year fully amortizing loan.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its debt advisory group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a primary servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on these transactions, contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$2,550,000 for R&D Facility in Poway, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,550,000 for a 50,780 square foot multi-tenant light industrial / R&D building. The subject property is located in the city of Poway, in northeast San Diego County, California.
Thomas Dudley, Jr., a Principal of Newmark, arranged the financing on behalf of one of its insurance company correspondents. The project has maintained strong historic occupancy since project completion about ten years ago. Specific terms of the loan were not disclosed.
With offices in Irvine, Los Angeles, San Francisco, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, contact Thomas Dudley Jr. at (949) 777-9033 or Michael Heagerty at (415) 956-9854.
$19,000,000 for Medical Office Financing in San Francisco, CA
Newmark Realty Capital, Inc. has arranged a 20-year fully amortizing $19,000,000 loan for 1635 Divisadero in San Francisco, California. The subject property is a 66,122 square foot, 6-story medical office building, with an adjacent 6-story parking structure located across from the UCSF Medical Center at Mount Zion.
Eric Von Berg, a Principal of Newmark, was brought in by Ken Hirsch of Brownstone Investment Company to jointly take this financing request to market among Newmark’s life insurance correspondents as well as all direct lenders. Because of the quality of the building and the strength of the borrower there was intense competition among lenders quoting this transaction. John Hancock won the competition by offering a competitive rate, longer loan term and a flexible loan structure.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
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$2,500,000 for Office Building in Milpitas, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,500,000 for the Proxim Wireless building in Milpitas, California.
Robert Slatt, a Vice President in the San Francisco office, arranged the loan through one of Newmark’s insurance company correspondents. The loan is fixed for 10 years and is amortizing over a 30 year period.
The 44,815 square foot building is leased to Proxim Wireless until October 2013. The purpose of this loan was to recapitalize the borrower’s equity after they acquired the building in February of this year, all cash.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilitzing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its debt advisory group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a primary servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$3,625,000 for Retail/Office Building in San Diego, CA
Newmark Realty Capital, Inc. has arranged long term, fixed rate, permanent financing in the amount of $3,625,000 for the 23,578 square foot retail/office building located at 939 4th Avenue in downtown San Diego. The property is situated at the gateway to San Diego’s Gaslamp District on 4th Avenue near its intersection with Broadway and faces Horton Square.
James Dick, a Vice President of Newmark, arranged the refinance loan through one of Newmark’s life insurance company correspondents. The loan has a 25 year term and amortization and was funded at an amount equal to 71% of appraised value.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
Please visit Newmark’s new website at www.newmarkrealtycapital.com
For more information on this transaction please contact James Dick at (858) 794-1418 or Michael Heagerty at (415) 956-9854.
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$11,310,000 for Office Acquisition in Palo Alto, CA
Newmark Realty Capital, Inc. arranged the acquisition of 420/430 Cowper Street, Palo Alto, California. The property was acquired by HATCO Associates for $11,310,000.
Eric Von Berg, a Principal of Newmark, representing the buyer, arranged the acquisition of the 17,363 square foot, 2-story office building currently 100% occupied by Wells Fargo.
“This property was not on the market, but Newmark had arranged the financing for the seller, an affiliate of the Matteson Companies, and was able to convince them to entertain our offer” said Fred Thoits, who led the acquisition team for HATCO.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction, contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$33,350,000 for Office Acquisition in Cupertino, CA
Newmark Realty Capital, Inc. has arranged the acquisition of 10495 North De Anza Blvd, in Cupertino, CA. The property was acquired by HATCO Associates for $33,350,000.
Eric Von Berg, a Principal of Newmark, representing the buyer, arranged the acquisition of this 60,000 SF, 3-story office building currently occupied 100% by Apple Inc.
The seller was an affiliate of Sand Hill Property Company, run by Peter Pau who said: “We appreciate working with Eric and his client, and the discreet and targeted approach. The property was not on the market. Eric came to us with a fair price, and the process went very smoothly. We are sorry to let this go, because we really like Cupertino and the building, and Apple is a great tenant.”
“Eric knew the owner and, through careful structuring, was able to make this purchase a part of a larger 1031 Exchange with a simultaneous closing,” said Fred Thoits, who led the acquisition team for HATCO.
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking and investment firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$7,200,000 for Plaza Del Lago in Escondido, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $7,200,000 for the 31,933 square foot Plaza Del Lago Shopping Center. The property is located at the intersection of Del Lago Boulevard and Via Rancho Parkway in the city of Escondido, in northeast San Diego county.
James Dick, a Vice President of Newmark, arranged the acquisition loan through one of Newmark’s life insurance company correspondents. The loan has a 25 year term and amortization and was funded at an amount equal to 74% of appraised value.
With offices in Irvine, Los Angeles, San Francisco, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact James Dick at ((858) 794-1418 or Michael Heagerty at (415) 956-9854.
$16,400,000 for Luxury Apartment Complex in Las Vegas, NV
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $16,400,000 for the Shadow Hills at Lone Mountain apartments located at 3501 Shady Timber Street, Las Vegas, Nevada. Christopher Funai, a Vice President in the Las Vegas office, procured the loan which was funded through an FHA-sponsored program and refinanced a mini-perm loan that had matured in late 2009. Terms of the 35-year, fully amortizing loan include a fixed interest rate of 5.20% and allowed the borrower to pull cash out of the project. The garden-style property was built in 2002 and includes a large clubhouse with a fully-equipped gym, a luxurious entertainment room, and a business center. The complex also has a large, central pool with spa, cabanas and barbeques. With offices in Las Vegas, San Francisco, Sacramento, Seattle, Los Angeles, Irvine and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction, please contact Christopher Funai at (702) 304-0437 or Michael Heagerty at (415) 956-9854.
$41,250,000 for San Antonio Retail Center in Mountain View, CA
Newmark Realty Capital, Inc. has arranged the purchase of the San Antonio Shopping Center. The center is located at 445 San Antonio Road, Mountain View, California. Eric Von Berg, a Principal of Newmark, working as a representative for the buyer, MerloneGeier Partners (MGP), arranged the $41,250,000 purchase of this 180,000 square foot shopping center. The center is anchored by Sears. MGP plans to redevelop the property. We appreciated Eric.s targeted approach. He learned our capabilities and advocated our firm as able to close for cash in this difficult environment. In addition, he recognized our ability to ultimately create a higher density, retail-driven development the City of Mountain View can be proud of , said Brad Geier, Co-Managing Partner of MerloneGeier Partners. MerloneGeier Partners is a private investment firm focused on the acquisition and active ownership of retail properties on the west coast. With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$1,875,000 for 2-Story Office Building in Scottsdale, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $1,875,000 for Scottsdale Executive Square. Timothy W. Storey, a Principal in the Phoenix office, arranged the loan through one of Newmark’s life insurance company correspondents. The five year loan carries an interest rate of 5.43% and will amortize over a 25 year period. The property is a 30,000 square foot, two-story, multi-tenant office building located along Scottsdale Road, adjacent to the Scottsdale Airpark in Scottsdale, Arizona. With offices in Phoenix, San Francisco, Sacramento, Seattle, Los Angeles, Irvine and Las Vegas, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction, contact Timothy W. Storey at (602) 374-7854 or Michael Heagerty at (415) 956-9854.
$18,387,000 for Mobile Home Park in Apache Junction, AZ
Newmark Realty Capital, Inc. has recently arranged permanent financing in the amount of $18,387,000 in connection with the refinance of a five-star, senior mobile home park community in Apache Junction, Arizona. Patrick M. Barkley, a Principal of Newmark, secured the financing on behalf of the borrower through its correspondent lending relationship with Walker and Dunlop, LLC. Specific terms of the loan were not disclosed. The security consists of over 500 units, all of which can accommodate a multi-section (double-wide) mobile or manufactured home. The amenities within the community include an assembly room, service kitchen, game room, craft room, billiards room, fitness center, a chapel, a heated pool and spa, shuffleboard courts, and a chip and putt golf course. Approximately 400 of the pads are occupied on a year round basis, while the remaining pads are used for seasonal RV use with flexible lease terms. With offices in Phoenix, San Francisco, Sacramento, Seattle, Los Angeles, Irvine and Las Vegas, Newmark Realty Capital, Inc. is a full-service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark.s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-bank / non-insurance chartered companies with this designation. For more information on the transaction please contact Patrick M. Barkley at (602) 374-7806 or Michael Heagerty at (415) 956-9854.
$130,000,000 for John Hancock Life Insurance in Seattle, WA
Newmark Realty Capital, Inc. has been appointed as a loan correspondent for John Hancock Life Insurance Company (U.S.A.) in the Seattle metropolitan area. After arranging financings of nearly $130,000,000 with John Hancock during 2008 and 2009, Newmark’s Seattle office was appointed as a formal non-exclusive loan correspondent. Newmark will provide loan servicing functions on Hancock’s behalf as well as continue to source new lending opportunities. Michael Taylor, a Principal with Newmark in its Seattle office, who was responsible for arranging the recent loans with Hancock stated, “The people at John Hancock have been great to work with. Their process is very user-friendly and our clients for whom we have arranged loans with Hancock have been very pleased with the experience. We look forward to building upon the success we have had thus far with John Hancock with our expanded role as a loan correspondent in our markets”. According to Susan Pickrell at Hancock, “Hancock has been very pleased with the quality assets we have had the opportunity to finance through Newmark, and this new relationship should facilitate the continuation of that trend into the future.” John Hancock comprises one of the largest life insurers in the United States, and one of the largest worldwide when combined with its parent company, Manulife Financial Corporation. The Company offers a broad range of financial products and services, including life insurance, annuities, mutual funds, 401(k) plans, long term care insurance, college savings, and other forms of business insurance. The Real Estate Finance Group invests money nationally, on behalf of the Company’s General Account. At year end 2009, the Group managed a portfolio in excess of $12 billion. With offices in Seattle, San Francisco, Sacramento, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full-service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark.s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor.s and is one of a select few non-bank / non-insurance chartered companies with this designation. For more information please contact Michael Taylor at (206) 816-6816 or Michael Heagerty at (415) 956-9854.
$3,230,000 for Medical Office Building in Sunnyvale, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $3,230,000 as a correspondent for one of its life insurance companies. Eric Von Berg, a Principal of Newmark, secured non-recourse financing for the owners. The loan provided a fixed rate of 6.50% for 10 years and is amortized over 25 years. The property is a two-story, 24,000 square foot medical office building located in Sunnyvale, CA. At the time of financing, the building was 100% leased. With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$12,000,000 for Business Center in Petaluma, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $12,000,000 to facilitate the purchase of Petaluma Marina Business Center. Thomas Dudley, Jr. a Principal of Newmark, and James McConnico, Vice President, secured the financing with one of Newmark’s correspondent life insurance company lenders. The fixed rate loan is amortized over 30 years. The subject property consists of three inter-connected Class A office buildings totaling approximately 116,000 SF and is located adjacent to the award-winning Sheraton Sonoma County-Petaluma Hotel and Marina. With offices in San Francisco, Sacramento, Irvine, Los Angeles, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction, contact Thomas Dudley, Jr. at (949) 777-9033, James McConnico at (916) 565-4453 or Michael Heagerty at (415) 956-9854.
$3,800,000 for Property in Spokane, WA
Newmark Realty Capital, Inc. has arranged financing in the amount of $3,800,000 for Rosauers Plaza located in Spokane, Washington. Rosauers Plaza is one of the premier commercial properties in the South Hill area of Spokane. The security for the loan includes both Rosauers Plaza and Hastings Plaza, together totaling over 120,000 SF of prime retail space. The two adjacent retail centers are located on almost 10 acres along 29th Avenue, a main arterial through the South Hill area. The land was developed in several phases by the owner’s family beginning in 1978. Demetri Koston, a Vice President for Newmark, opened a Spokane office in 2009 as an expansion of its Seattle office to serve the Inland Northwest. Mr. Koston secured non-recourse financing for the owners with one of Newmark’s correspondent life insurance companies. The interest rate for the loan was fixed for a period of 15 years, and is amortized over a 15 year period. Additional loan terms were not disclosed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction contact Demetri Koston at (509) 378-8596 or Michael Heagerty at (415) 956-9854.
$5,150,000 for Multiple Properties in Los Angeles, CA
Newmark Realty Capital, Inc. has arranged a permanent refinance in the amount of $5,150,000 for a portfolio of apartment buildings located in Southern California. Mark Ritchie, a Principal with Newmark, and Robert Slatt, a Vice President, secured financing for the properties through Newmark’s correspondent lending relationship with Walker and Dunlop. The Morrison and Huston Park Apartment buildings total 81 units and are located in the North Hollywood area of Los Angeles County. Morrison Park Apartments is a 41 unit building and is located directly behind the 40 unit Huston Park Apartment complex. Both buildings were developed by the current owner in the early 90s. Newmark originated the $3,000,000 loan on the Morrison Park Apartments on a 10 year fixed term with a 30 year amortization schedule. In addition, Newmark originated a $2,150,000 loan on the Huston Park Apartments on a 15 year fully amortizing structure. In both loans, the borrower defeased the existing debt on the properties and was able to pull significant cash out and still keep the debt service at the same levels as the payments on the previous loans. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on these transactions, please contact Mark Ritchie at (310) 846-5303, Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$910,000 for Property in Hartwell, GA
Newmark Realty Capital, Inc. has arranged a permanent refinance in the amount of $910,000 for a retail property located in Hartwell, Georgia. Robert Slatt, a Vice President with Newmark, arranged acquisition financing for an AT&T Cingular Net Leased Investment. The subject property is a 3,500 square foot building located as an outparcel to a Wal-Mart Supercenter. The 65% LTV, $910,000 loan was originated with a national credit union and was structured on a 5 year fixed rate term on a 30 year amortization schedule. With offices in San Francisco, Los Angeles, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on these transactions, please contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$21,000,000 for Class A Office in Palo Alto, CA
Newmark Realty Capital, Inc. arranged permanent financing in the amount of $21,000,000 as correspondent for one of its life insurance company lenders. 100 Hamilton is one of the premiere addresses in downtown Palo Alto, containing 72,000 square feet of office space in four stories with underground parking. Eric Von Berg and Tom Dudley, both Principals of Newmark, lead the team, underwriting and closing for this loan. The non-recourse loan provided a long-term, fixed rate of 6.35% amortized over 27 years. With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction, contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$3,350,000 for Apartment Complex in Austin, TX
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $3,350,000 for the Bluff Springs Apartment Complex, a 104 unit apartment community in Austin, Texas. Jamie Dick, a Vice President of Newmark, arranged the financing for the borrower, a San Diego based apartment investor, with Fannie Mae through Newmark.s correspondent relationship with Walker & Dunlop LLC. The non-recourse loan provided a fixed rate of 5.52% for the full 10 year term and is amortized over 30 years. The property has been held for investment for a number of years and currently has an occupancy of 98%. With offices in Irvine, Los Angeles, San Francisco, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark.s loan production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees. The company services over $5 Billion with nearly 800 loans. Newmark has been rated as a Primary servicer by Standard &Poors and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction please contact Jamie Dick at (858) 735-5963 or Michael Heagerty at (415) 956-9854.
$6,875,000 for Apartment Complex in Berkeley, CA
Newmark Realty Capital, Inc., recently arranged financing in the amount of $6,875,000 for the El Granada apartment complex. John Rowder, a Principal, and James McConnico, a Vice President, of Newmark secured the loan through its correspondent, StanCorp Mortgage Investors, LLC, a Portland, Oregon based insurance company. Newmark acted as the exclusive financial advisor to the borrower. Located in Berkeley, California, El Granada apartment complex is a 46 unit student apartment building with over 15,000 square feet of retail space below the apartments. The borrowers refinanced the property, which has been family owned for many years. With offices in Sacramento, San Francisco, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction, please contact John Rowder at (916) 565-2650, James McConnico at (916) 565-4453 or Michael Heagerty at (415) 956-9854.
$3,204,500 for Shopping Center in Mesa, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $3,204,500 for the Dobson and Guadalupe Shopping Center, a 35,252 square foot shopping center in Mesa, Arizona. The subject property, located on two heavily traveled thoroughfares, consists of two, multi-tenant retail buildings that are situated on both sides of the anchor tenant, the Goodwill Store. The subject property is 97% occupied by 9 tenants, many of whom have been located at the center for 10+ years. Additional shop space, pads and the Goodwill Store were not included in the security for the loan. Tim Storey, a Principal, and Adam Parker, an Assistant Vice President, both of Newmark Realty Capital’s Phoenix office, were able to structure a 5+5 year term with an attractive interest rate and a 25 year amortization on behalf of the borrower, TMS-Dobson & Guadalupe Center, LLC. With offices in Phoenix, Los Angeles, San Francisco, Sacramento, Seattle, Irvine and Las Vegas, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. Additional information on Newmark can be found at www.e-newmark.com. For more information on this transaction, please contact Tim Storey at (602) 374-7854, Adam Parker at (602) 354-5275 or Michael Heagerty at (415) 956-9854.
$2,300,000 for Motel in Burlingame, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,300,000 for the Vagabond Inn in Burlingame, CA. Terri Slocombe, a Principal of Newmark located in the San Francisco office, arranged the financing through a local bank. The loan provided a favorable fixed rate for 5 years of the 10 year loan term and included a flexible prepayment structure. The Vagabond Inn is located on Bayshore Highway just south of the San Francisco International Airport. The three-story motel contains 90 guest rooms, many of which have views of the San Francisco Bay. The Vagabond Inn offers its guests free parking, airport shuttle, a complimentary continental breakfast, and wireless internet access. With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$64,700,000 for Class A Office Space in Kirkland, WA
Newmark Realty Capital, Inc. has arranged financing in the amount of $64,700,000 for Carillon Point located in Kirkland, Washington. Carillon Point is one of the premier commercial properties in the entire Northwest. Located on 26 acres of waterfront land along Lake Washington, the property includes 445,000 square feet of Class A office space, the boutique 100 room Woodmark Hotel and a 200 slip marina. The land has been owned by the same family since World War II and was developed to its current use between 1989 and 1991. Michael Taylor, a Principal, working out of Newmark.s Seattle office, secured the financing for the owners with John Hancock Life Insurance Company. The loan has a fixed rate, a 20 year term and is amortized over 25 years. Mr. Taylor had arranged financing on the property in 2001 and was hired on an exclusive basis to secure new financing to replace the loan funded in 2001. With offices in Seattle, San Francisco, Sacramento, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Michael Taylor at (206) 816-6816, Patrick Taylor at (206) 816-6808 or Michael Heagerty at (415) 956-9854.
$2,600,000 for Two Retail Properties in San Francisco, CA
Newmark Realty Capital, Inc. has arranged permanent financing for two multi-tenant, NNN leased retail properties in the East Bay. Working on an exclusive basis, Terri M. Slocombe, a Principal in Newmark’s San Francisco office, provided permanent financing through one of Newmark’s life company correspondents, The Standard, for Dempsey Plaza in Milpitas and Irvington Plaza in Fremont. Dempsey Plaza is a 16,268 square foot multi-tenant retail property located near the intersection of Interstate 680 and Landess Avenue in Milpitas. The $1,200,000 permanent loan has a fixed rate and provides for 30 years of financing on a 30 year amortization schedule. Irvington Plaza consists of a recently remodeled Safeway shadow-anchored retail center with a combined 21,000 SF of NRA and is leased to multiple retail tenants. The $1,400,000 financing was structured on a fifteen-year fully amortizing basis. Newmark has worked with and provided loan placement for this client for over 15 years. With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$3,000,000 for Building in Gilbert, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $3,000,000 for a 41,157 square foot, single-tenant office/warehouse building in Gilbert, Arizona. The subject property is located within the Fiesta Commerce Center in the southeast portion of metropolitan Phoenix. The building is 100% occupied by Lockheed Martin, which currently subleases their space. Adam Parker, of Newmark.s Phoenix office, provided favorable financing with an attractive interest rate for his client on behalf of a regional bank. The rate is fixed for five years with a two-way call/rate adjustment after the fifth year. Additional terms of the loan were not disclosed. With offices in Phoenix, Los Angeles, San Francisco, Sacramento, Seattle, Irvine and Las Vegas, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Adam Parker at (602) 354-5275 or Michael Heagerty at (415) 956-9854.
$3,705,800 for Three NNN Lease Investments in San Francisco, CA
Newmark Realty Capital, Inc has arranged permanent financing in the amount of $3,705,800 for three single-tenant NNN leased investments located in California and New Mexico. Robert Slatt, a Vice President in Newmark’s San Francisco office, secured financing for the three properties through national and regional credit unions and a regional bank. The first property, a Romano’s Macaroni Grill restaurant, is located in Folsom, CA. The acquisition financing was structured with a regional bank on a ten-year loan term with the initial interest rate fixed for five years on a twenty-five year amortization schedule. The subject property consists of a 7,000 SF building located as an outparcel to a Home Depot anchored power center. The total debt on the property equaled $1,420,800 representing a 60% loan to value. The second property, a Sweet Tomatoes restaurant, is located in Albuquerque, NM. The permanent refinance was structured with a national credit union on a five-year loan term with a five-year fixed interest rate on a thirty-year amortization schedule. The subject property is a 7,295 SF free standing building located on a main thoroughfare in Albuquerque. The refinance totaled $1,265,000 representing a 70% loan-to-value. The final property, a free standing Burger King restaurant, is located in Hayward, CA. The acquisition financing was structured with a regional credit union on a five-year loan term with a five-year fixed interest rate on a thirty-year amortization schedule with no prepayment penalty. The subject property is a 2,670 SF building located directly adjacent to two of Hayward.s major arterial thoroughfares. The total debt on the property equaled $1,020,000 representing a 60% loan-to-value. With offices in San Francisco, Sacramento, Los Angeles, Irvine, Seattle, Las Vegas, and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on these transactions please contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$21,400,000 for Multi-Family Communities in Chula Vista, CA
Newmark Realty Capital, Inc. has successfully completed the refinancing of two multi-family communities in Wilmington, Delaware and Chula Vista, California with fixed rate permanent financing totaling $21,400,000. The Village at Fox Point in Wilmington, Delaware is a 447 unit apartment community originally built in 1949 and substantially renovated and upgraded over the past 10 years. The low density complex consists of 58 two-story buildings on approximately 42 acres of gently sloping hillside overlooking the Delaware River. Rolling Hills Gardens Apartments is a 116 unit senior apartment complex located in the Rolling Hills Ranch master planned community in eastern Chula Vista, California. Both properties were previously financed by Peter G. Welsh, a Managing Principal of Newmark Realty Capital, Inc. with a correspondent life insurance company. The current assignment included negotiating a discounted prepayment premium with the existing lender and obtaining new 10 year financing. New financing was placed with FNMA through Newmark.s correspondent Walker & Dunlop, LLC. Both loans funded in less than 30 days from the date of the loan application and rate lock. Newmark Realty Capital, Inc., is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Peter Welsh at (310) 846-5298 or Michael Heagerty at (415) 956-9854.
$4,300,000 for Industrial Business Park in Chula Vista, CA
Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $4,300,000 for the South City Business Center. Thomas Dudley, Jr., a Principal of Newmark, arranged the financing on behalf of one of its insurance company servicing correspondents. The loan provided a favorable fixed-rate for a term of ten years. Other specific terms of the loan were not disclosed. South City Business Park is a 168,000 square foot multi-tenant industrial park comprised of six buildings. The property is located in the coastal area of San Diego County, in the rapidly growing city of Chula Vista. During the last several years Newmark has arranged over two billion dollars of financing in Southern California alone. With offices in Irvine, Los Angeles, San Francisco, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Thomas Dudley at (949) 777-9033 or Michael Heagerty at (415) 956-9854.
$43,750,000 for Downtown Shopping Center in Woodinville, WA
Newmark Realty Capital, Inc. has arranged financing in the amount of $43,750,000 for the Downtown Woodinville Shopping Center in Woodinville, Washington. Downtown Woodinville is a 325,000 square foot community center anchored by Top Foods grocery. Other tenants include a 12 screen Cineplex Odeon Theater, Petsmart, Barnes & Noble, Eddie Bauer, Cost Plus and an array of shops. Michael Taylor, working out of Newmark.s Seattle office, secured permanent financing through John Hancock Life Insurance Company. With the objective of obtaining the best possible outcome for the borrower, Newmark worked on this transaction in cooperation with Seattle Mortgage and Glacier Real Estate Finance. The loan has a fixed rate for a 10 year term. With offices in Seattle, San Francisco, Sacramento, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full-service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark.s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor.s and is one of a select few non-bank / non-insurance chartered companies with this designation. For more information on this transaction please contact Michael Taylor at (206) 816-6816 or Michael Heagerty at (415) 956-9854.
$109,000,000 for Advisory Assignment in Los Angeles, CA
Newmark Realty Capital, Inc. has completed a $109,000,000 restructure of four loans on a 785 unit multifamily portfolio located in the Western United States. Newmark was exclusively engaged because of its expertise in apartment lending, loan servicing and workouts. The advisory assignment was headed up by George Mitsanas and Michael Taylor. The Newmark team also included Peter Hillakas and Patrick Taylor. The loans were originated at the height of the market by a portfolio lender specializing in short term bridge loans and were set to mature over the next year. With the capital markets in deep distress the Sponsors realized the properties would be impossible to refinance at maturity. The rental rate decreases and increased concessions prevented them from exercising extension options without a significant re-margining of the loans. While specific terms were not publicly disclosed, Newmark successfully restructured the four loans and provided the Sponsors the additional time, relief and flexibility to complete their investment plan and allow for the market to rebound. Both the Sponsors and the Lender were able to find a solution to ride out todays challenging capital markets. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Phoenix, Irvine, and Las Vegas, Newmark Realty Capital is a full service mortgage banking firm with a strong lineup of correspondent lenders, utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. Additional information on Newmark can be found at www.e-newmark.com. For more information on this transaction please contact George Mitsanas at (310) 846-5299, Michael Taylor at (206) 816-6816 or Michael Heagerty at (415) 956-9854.
$3,100,000 for Medical Office Building in Rancho Bernardo, CA
Newmark Realty Capital, Inc. has arranged financing in the amount of $3,100,000 for the Bernardo Medical Office Building located on Bernardo Center Drive in Rancho Bernardo, California. The subject property is 33,970 square feet and is occupied primarily by medical and dental tenants that service the Rancho Bernardo community. 33,970 James Dick, working out of Newmark.s Irvine office secured the financing for the borrower, the Gilbert Martin Trust with a San Diego based credit union. The loan has a fixed rate, a 15 year term and is amortized over 30 years. Most notably, Mr. Dick was able to process and close the loan with the lender within 30 days. With offices in Irvine, Los Angeles, San Francisco, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for all its correspondent lenders and other insurance companies, pension funds and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact James Dick at (949) 419-3808 or Mike Heagerty at (415) 956-9854.
$88,000,000 for Office Tower in Century City, CA
Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $88,000,000 for an office building located at 1900 Avenue of the Stars. George H. Mitsanas, a Principal of Newmark along with Associate Vice Presidents Monique Monzon and Peter Hillakas, arranged the financing on behalf of one of its servicing correspondents. Specific terms of the loan were not disclosed. The property is a 600,000 square foot, 27 story, Class A office tower located in the heart of Los Angeles’ premier office submarket, Century City. Over the years, Mr. Mitsanas has arranged over $200,000,000 of financing for this asset. During the last several years Newmark has arranged well over one billion dollars of office financing in Los Angeles County. With offices in Los Angeles, San Francisco, Irvine, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street vehicles, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$22,750,000 for Office Building in Sacramento, CA
Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $22,750,000. The loan is secured by a medical office building located in mid-town Sacramento, California. The loan funded in December 2008. Demetri M. Koston and George H. Mitsanas, both of Newmark, arranged the financing on behalf of one of its correspondent life insurance company lenders. Specific terms of the loan were not disclosed. Over the years, Newmark has arranged financing for a wide variety of office properties throughout the nation. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact DemetriKoston at (310) 846-5306, George Mitsanas at (310) 846-5299, or Michael Heagerty at (415) 956-9854.
$13,800,000 for West Counties Center in Los Angeles, CA
Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged a $13,800,000 loan for West Counties Commerce Center I, a 385,000 sq. ft. business park anchored by Quiksilver. The lender was one of Newmark’s life company correspondents. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services nearly $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Mark Ritchie at (310) 846-5303.
$5,400,000 for Properties in Burlingame, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $5,400,000 for two free-standing restaurants located on the waterfront in Burlingame, California Terri Slocombe, a Principal in Newmark.s San Francisco office, secured the financing for the property through StanCorp Mortgage Investors, one of Newmark.s life insurance company correspondents. The financing was structured on a ten-year loan term with a fixed interest rate and a 30-year amortization schedule. The subject property consists of El Torito Grill and Elephant Bar. The borrowers are long-time clients of Newmark. Newmark Realty Capital, Inc. is a full-service commercial mortgage banking firm that provides mortgage loans for income-producing properties. The company has offices in San Francisco, Sacramento, Los Angeles, Irvine, Seattle, Las Vegas and Phoenix. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street Conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.
$30,000,000 for Hotel in Beverly Hills, CA
Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $30,000,000 for the fee interest in the Beverly Hills Four Seasons Hotel. Working on an exclusive basis, George H. Mitsanas, a Principal of Newmark along with Associate Vice President, Monique Monzon, arranged the financing on behalf of one of its servicing correspondents. Specific terms of the loan were not disclosed. The subject property is a 285-room, world-class luxury hotel with unparalleled service and amenities. Located just minutes from renowned Rodeo Drive in the heart of the entertainment industry, this trophy property is widely considered to be one fo the finest hotels in the region. Over the years, Mr. Mitsanas has arranged over $160,000,000 of financing for this asset. With offices in Los Angeles, San Francisco, Irvine, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$11,200,000 for Industrial Building in Costa Mesa, CA
Peter G. Welsh, a Managing Principal of Newmark Realty Capital, Inc. recently obtained financing for the Nissan Building , a 345,410 square foot industrial building located along the north side of the 405 Freeway in Costa Mesa, California. Financing in the amount of $11,200,000 was provided for the owner, a prominent Southern California-based commercial real estate investor/developer by Minnesota Life Insurance Company, one of Newmark.s correspondent lenders. Mr. Welsh had originally arranged permanent financing for this property approximately 10 years ago with another lender. With offices in Los Angeles, San Francisco, Sacramento, Irvine, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street Conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. Newmark Realty Capital, Inc. has a serviced loan portfolio in excess of $4.5 billion . For more information on this transaction please contact Peter Welsh at (310) 846-5298 or Michael Heagerty at (415) 956-9854.
$16,500,000 for Loan in Mountain View, CA
Mike Taylor and George Mitsanas, both Principals of Newmark Realty Capital, Inc. worked on an exclusive basis to arrange bridge financing in the amount of $16,500,000 for a 124 unit multi-family property in Mountain View, CA. Originally constructed in 1966, the property has a mix of one and two-bedroom units with a large average unit size. The borrower acquired the property in 2005 and subsequently performed extensive interior and exterior renovations. With offices in Los Angeles, Seattle, San Francisco, Sacramento, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Mike Taylor at (206) 816-6808, George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$24,000,000 for Construction Loan in Indianapolis, ID
George H. Mitsanas, a Principal of Newmark Realty Capital, Inc. has arranged construction-permanent financing in the amount of $24,000,000 for a to-be-built 525,000 square foot state-of-the-art beverage distribution warehouse facility. The building is leased for a 15-year term to Indiana’s largest beer and wine distributor. The property is under construction and scheduled to be completed in 2009. Newmark arranged the financing on behalf of one of its life company correspondents and will service the loan. Year to date 2008, Mr. Mitsanas has arranged over $100,000,000 in construction loans. Specific terms of the loan were not disclosed. The Newmark Realty Capital team has extensive industrial financing experience with a wide variety of capital sources including banks, life companies and private parties. In addition, our experience includes institutional sales, joint ventures and REIT operating unit transactions. Newmark Realty Capital services over $5 billion in loans and is a Rated Loan Servicer. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$45,000,000 for Construction Loan in Encino, CA
George H. Mitsanas, a Principal of Newmark Realty Capital, Inc. has arranged construction-permanent financing in the amount of $45,000,000 for a fully entitled mixed-use development consisting of 125 Class “A” multi-family residential units. The property consists of prime ground floor retail totaling over 17,000 square feet and located on the high traffic thoroughfare of Ventura Boulevard in Encino, California. The property is under construction and scheduled to be completed in 2010. Working on an exclusive basis, Newmark arranged the financing on behalf of one of its servicing correspondents. Specific terms of the loan were not disclosed. The Newmark Realty Capital team has extensive multi-family financing experience with a wide variety of capital sources including banks, life companies, agencies and private parties. In addition, our experience includes institutional sales, joint ventures and REIT operating unit transactions. Newmark Realty Capital services over $5 billion in loans and is a Rated Loan Servicer. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$5,700,000 for Medical Building in Atlanta, GA
George H. Mitsanas, a Principal of Newmark Realty Capital, Inc. has arranged financing in the amount of $5,700,000 for a 31,000 square foot single-tenant medical office building located in Atlanta, Georgia. The transaction involved a sale/leaseback with a 15-year lease to a major cardiology group. The property is a newly constructed, state-of-the-art medical office building. Working on an exclusive basis, Newmark arranged the financing on behalf of one if its life company servicing correspondents. Specific terms of the loan were not disclosed. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$20,750,000 for Hotel in Newport Beach, CA
George H. Mitsanas and Demetri M. Koston, both of Newmark Realty Capital, Inc. have arranged permanent financing totaling $20,750,000 for a prime 25 acre property located in Newport Beach, California. The property is currently improved with a 405-room Hyatt Regency Hotel plus corresponding amenities including banquet and meeting facilities, a golf course, pools, and restaurants. While the loan funded in August 2008, Newmark arranged the loan in January 2008 via a forward commitment. Newmark arranged the financing on behalf of a life insurance company. Specific terms of the loan were not disclosed. Over the years Newmark has arranged a wide variety of major hotel financings throughout the nation. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas at (310) 846-5299, Demetri Koston at (310) 846-5306 or Michael Heagerty at (415) 956-9854.
$2,250,000 for Four Building Office Complex in Lawrenceville, GA
Newmark Realty Capital, Inc. has arranged permanent acquisition financing in the amount of $2,250,000 for a four building, multi-tenant office complex located in Lawrenceville, Georgia. The four buildings comprise a total of 43,541 SF of leasable space on a parcel of approximately 3.52 acres. The buildings house 21 different regional and local tenants and is currently 92% occupied. Robert Slatt, a Vice President of Newmark, secured the financing on behalf of the borrower through a regional bank. Acquisition financing was structured on a 10 year loan term with the initial interest rate fixed for 7 years on a 30 year amortization schedule and a flexible prepayment penalty. Newmark Realty Capital, Inc. is a full service commercial mortgage banking firm that provides mortgage loans for income-producing properties. The company has offices in San Francisco, Sacramento, Los Angeles, Irvine, Las Vegas, Phoenix and Seattle. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street Conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$4,000,000 for Menlo Park Shopping Center in Tuscon, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $4,000,000 for a 79,306 square foot grocery anchored retail center in Tucson, Arizona. The subject property is anchored by Food City (Bashas’), Family Dollar and Factory 2U. The loan collateral also included four retail/restaurant pads that surround the property. The center is located on 7.53 acres of land and was constructed between 1972 and 1976. A portion of the loan proceeds will be used to update the center’s facade. Timothy Storey, a Principal of Newmark, was able to arrange a 7 year fixed rate loan and a 30 year amortization with a competitive interest rate on behalf of the borrower, Menlo Park Shopping Center Company, LLP. With offices in Phoenix, San Francisco, Los Angeles, Irvine, Sacramento, Seattle and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Timothy Storey at (602) 374-7854 or Michael Heagerty at (415) 956-9854.
$3,100,000 for FedEx Distribution Facility in Carson, CA
Newmark Realty Capital, Inc. and Teachers Insurance and Annuity Association (TIAA-CREF) have arranged financing in the amount of $69,500,000 for the Blue Diamond Crossing retail center. The center is located on Blue Diamond Parkway, southwest of the strip in Las Vegas, Nevada. Anchored by Target, Kohls, Ross, Petco, Cost Plus and Office Depot, the 650,000 square foot center is situated on 69.5 acres and is the key component of the 110 acre master-planned Blue Diamond Business Center consisting of 1.5 million square feet of retail, industrial and office space. The commitment included forward rate lock and earn-out funding provisions to address the need for permanent financing on the center.s final phase of shops and pads currently under development. Financing was arranged by Chris Funai, a Vice President, Peter Welsh, a Managing Principal and Braden Turnbull, a Principal of Newmark, acting as loan correspondent for TIAA-CREF. With offices in Las Vegas, Los Angeles, Irvine, San Francisco, Sacramento, Seattle and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street Conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Chris Funai at (702) 304-0437, Peter Welsh at (310) 846-5298, Braden Turnbull at (310) 846-5301 or Michael Heagerty at (415) 956-9854.
$69,500,000 for Retail Complex in Beverly Hills, CA
Newmark Realty Capital, Inc. and Teachers Insurance and Annuity Association (TIAA-CREF) have arranged financing in the amount of $69,500,000 for the Blue Diamond Crossing retail center. The center is located on Blue Diamond Parkway, southwest of the strip in Las Vegas, Nevada. Anchored by Target, Kohls, Ross, Petco, Cost Plus and Office Depot, the 650,000 square foot center is situated on 69.5 acres and is the key component of the 110 acre master-planned Blue Diamond Business Center consisting of 1.5 million square feet of retail, industrial and office space. The commitment included forward rate lock and earn-out funding provisions to address the need for permanent financing on the center.s final phase of shops and pads currently under development. Financing was arranged by Chris Funai, a Vice President, Peter Welsh, a Managing Principal and Braden Turnbull, a Principal of Newmark, acting as loan correspondent for TIAA-CREF. With offices in Las Vegas, Los Angeles, Irvine, San Francisco, Sacramento, Seattle and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street Conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Chris Funai at (702) 304-0437, Peter Welsh at (310) 846-5298, Braden Turnbull at (310) 846-5301 or Michael Heagerty at (415) 956-9854.
$18,105,000 for Retail Complex in Los Angeles, CA
Newmark Realty Capital, Inc., working on an exclusive basis, has arranged construction financing for an office/retail complex located at 9378 Wilshire Boulevard in Beverly Hills. The loan was funded by a regional bank and the terms included a loan of $18,105,000, a 24 month term with extension options and partial-recourse to the sponsors. The project is the leasehold interest in a spec 30,000 square foot mixed-use (office over retail) complex located near the southeast corner of the Beverly Hills Triangle. It is located near a wide variety of amenities ranging from world class dining and retail shopping to hotels. The assignment was headed up by George Mitsanas, a Principal of Newmark. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held, full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$2,800,000 for Office Building in San Jose, CA
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,800,000 for a single tenant, 16,252 square foot office building in San Jose, CA. The building is located on Bascom Avenue across from the Santa Clara Valley Medical Center. The subject property serves as the County of Santa Clara’s main clerical building for the hospital. Robert Slatt, a Vice President of Newmark, secured the financing on behalf of the borrower, JW Bascom Properties, through one of their correspondent lending relationships. With a 46.67% LTV and three years remaining on the tenant’s lease term, Robert was able to negotiate a 7 year fixed rate loan term amortized over 30 years. To further accommodate the borrower’s loan request, Newmark’s correspondent lender provided a flexible prepayment penalty commencing at the end of the third loan year. With offices in San Francisco, Sacramento, Los Angeles, Irvine, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for it correspondent lenders and other insurance companies, pension funds, Wall Street Conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.
$6,300,000 for Courtyard at 24th Apartment Complex in Phoenix , AZ
Newmark Realty Capital, Inc. has recently arranged permanent financing in the amount of $6,300,000 for a 114-unit apartment complex located one and one-half miles south of the prestigious 24th Street and Camelback Road corridor in Phoenix, Arizona. Patrick M. Barkley, a Principal of Newmark, secured the financing through Green Park Financial (Fannie Mae) on behalf of the borrower, Courtyard at 24th Street, LLC. Specific terms of the loan were not disclosed. The Courtyard at 24th apartment complex is situated between one of the best residential and commercial submarkets of Phoenix and the expanding Sky Harbor Airport corridor. Located just north are the exclusive Biltmore Fashion Park, Arizona Biltmore Resort, Camelback Esplanade, Ritz Carleton, and multiple high-rise condo projects. The security consists of one and two bedroom units surrounded by a lush courtyard and an oversized pool and deck area. Additional amenities include covered parking, security gates, and a tennis and basketball court. With offices in Phoenix, San Francisco, Sacramento, Los Angeles, Irvine, Seattle and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Patrick Barkley at (602) 374-7806 or Michael Heagerty at (415) 956-9854.
$3,800,000 for White Mountain Village Center in Phoenix, AZ
Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $3,800,000 for a 110,354 square foot grocery anchored shopping center located along the east side of Highway 260 (White Mountain Blvd) at Yeager Lane in Pinetop-Lakeside, Arizona. Timothy W. Storey, a Principal of Newmark, arranged this financing on behalf of the borrower through SCF Arizona/JPMorgan Chase, NA. Specific terms of the loan were not disclosed. The security is anchored by a 40,157 square foot remodeled Safeway and an 11,250 square foot Family Dollar Store. The property was approximately 66% occupied at the time of the transaction. The high vacancy is due to two major tenant spaces (19,544 square foot former Sav-Mor Drugs and 10,000 square foot theater). Situated on 10.40 acres, the subject was built in 1982 and includes notable tenants such as Radio Shack, Subway, and Edward Jones. With offices in Phoenix, San Francisco, Sacramento, Los Angeles, Irvine, Seattle and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for incomeproducing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Timothy Storey at (602) 374-7854 or Michael Heagerty at (415) 956-9854.
$230,000,000 for Office Complex in Santa Monica, CA
Newmark Realty Capital, Inc. has arranged financing for Phase I of The Water Garden. The Water Garden is a 1.3MM square foot Class “A” office complex in Santa Monica, CA. The $230MM loan was placed by Mark Ritchie, a Principal of Newmark, on behalf of The Water Garden Company, which is controlled by J. P. Morgan Asset Management. Newmark secured the loan through its correspondent Teachers Insurance and Annuity Association of America (TIAA-CREF), a national financial services organization with more than $406 billion in combined assets under management. Details on the fixed rate loan were not available. With offices in Los Angeles, San Francisco, Sacramento, Irvine, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Mark Ritchie at (310) 846-5303 or Michael Heagerty at (415) 956-9854.
$104,000,000 for Water Authority’s New Headquarters in Las Vegas, NV
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $104,000,000, with a 10 year term, for a 280,000 SF Class “A”, 17 story high rise office tower, located in Las Vegas, Nevada. During 2005, Newmark also assisted with a $96,000,000 construction loan for this asset. Acting as the borrower’s exclusive mortgage banker, Newmark arranged the permanent financing through its servicing correspondent, JP Morgan Real Estate and the construction financing through Wells Fargo Bank. The assignment was headed up by George Mitsanas and the Newmark team included Christopher Funai and Peter Hillakas. The subject property is located in downtown Las Vegas, adjacent to the recently completed IRS Regional Headquarters. The property is a LEED (Leader in Energy & Environmental Design) Gold certified office building. The anchor tenant is the Southern Nevada Water Authority (SNWA), which is responsible for managing the region’s water resources and ensuring adequate water supplies for the Las Vegas Valley. Other tenants include prominent national law firms, government agencies and 24 Hour Fitness. The structure of the financing included three notes and a mezzanine overlay. According to Mr. Mitsanas, “The subject property is Nevada’s premier office building anchored by one of the most important agencies in the western United States. The developer is among the best in our industry. They did a first class job with this project and also spent the extra funds needed to achieve LEED status which will hopefully set an example for others in our industry to follow.” With regard to the actual financing, Mr. Mitsanas added, “The permanent loan was secured on a forward basis in September of 2006 and scheduled to fund in October of 2007. When the capital markets melted down during the summer of 2007 JP Morgan stood tall and closed our deal.” With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas, and Phoenix, Newmark Realty Capital, Inc. is a privately held, full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas at (310) 846-5299, Chris Funai at (702) 304-0437 or Michael Heagerty at (415) 956-9854.
$7,200,000 for Multi Tenant Office in Irvine, CA
Newmark Realty Capital, Inc. has recently arranged permanent financing in the amount of $7,200,000 in connection with the acquisition of a multi-tenant office building in Laguna Niguel, California. Thomas Dudley, Jr., a Principal of Newmark, secured the financing on behalf of the borrower through its correspondent lender Advantus Capital Management. The loan has a 10 year term with a 30 year amortization thereafter and includes a provision for funding upgrades and improvements to the project planned by the borrower. The security consists of approximately 42,000 square feet with units ranging from 550 to approximately 1,100 square feet. At time of funding the property was about 95% occupied. With offices in Irvine, Los Angeles, San Francisco, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Thomas Dudley, Jr. at (949) 777-9033 or Michael Heagerty at (415) 956-9854.
$6,900,000 for Industrial Building in Fontana, CA
Newmark Realty Capital, Inc. has arranged construction and permanent financing in the amount of $6,900,000 for a to-be-built 96,000 square foot freestanding industrial project located in Fontana, California. The property was recently acquired as unimproved land by a family-owned and operated company specializing in manufacturing steel doors, frames and components. The project will ultimately serve as the company’s main manufacturing and distribution facility. Demetri Koston, an Assistant Vice President of Newmark and Thomas Dudley, a Principal of Newmark, represented the company on an exclusive basis and arranged the financing through an institutional lender. In addition to securing the construction loan, Demetri and Thomas were able to fix the interest rate for the permanent loan almost one year prior to completion of construction. Other specific terms of the loan were not disclosed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Demetri Koston at (310) 846-5306, Thomas Dudley at (949) 777-9033 or Michael Heagerty at (415) 956-9854.
$15,100,000 for Retail Center in Irvine, CA
Newmark Realty Capital, Inc. recently arranged permanent financing in the amount of $15,100,000 in connection with the acquisition of the California Family Fitness Center in Rocklin, California. The security consists of approximately 59,000 square feet with 71% of the space occupied by the health club. The balance of the space is occupied by Wells Fargo Bank and local tenants. Thomas Dudley, Jr., a Principal of Newmark, secured the financing on behalf of the borrower through a major Wall Street investment bank. The loan has a 10 year term with the first two years interest only and a 30 year amortization thereafter. With offices in Irvine, Los Angeles, San Francisco, Sacramento, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Thomas Dudley, Jr. at (949) 777-9033 or Michael Heagerty at (415) 956-9854.
$4,000,000 for Industrial Building in Huntington, CA
Newmark Realty Capital, Inc. has arranged $4,000,000 in permanent financing for the refinance of a 54,000 square foot industrial building in Huntington Park, California. The property is an owner-user facility with the tenant engaged in high value production activities for the garment industry. Mark Ritchie, a Principal of Newmark, arranged the fixed rate financing through Citigroup Global Markets Inc. The 10 year loan features a 6.78% interest rate. Though the capital markets were in disarray, Mr. Ritchie reported that Citigroup was able to fund the loan on terms as applied for . As they do with all their clients, Newmark worked diligently with Citigroup on the front end to ensure certainty of execution for this transaction. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Mark Ritchie at 310-846-5303 or Michael Heagerty at 415-956-9854.
$2,000,000 for Equestrian Center in Phoenix, AZ
Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $2,000,000 for a 27,459 square foot strip retail center in Phoenix, Arizona. The subject property, which is located in the Ahwatukee-Foothills area of Phoenix, consists of one, multi-tenant retail building leased to fifteen tenants. Located on 2.10 acres of land and constructed in 1987, the subject enjoys visibility and access within the upscale neighborhood known as Equestrian Estates. Timothy W. Storey, Principal of Newmark, arranged this financing on behalf of the borrower through its correspondent lender, CUNA Mutual Life Insurance Company. With offices in Phoenix, San Francisco, Sacramento, Los Angeles, Irvine, Seattle and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Timothy Storey at (602) 374-7854 or Michael Heagerty at (415) 956-9854.
$28,000,000 for Mobile Home Community in Hayward, CA
Newmark Realty Capital, Inc., has arranged acquisition financing totaling $28,000,000 for a mobile home community in Northern California. Located in an infill location and surrounded by residential development, the mobile home community is considered one of the largest in Northern California. Demetri M. Koston, a Vice President of Newmark, and George H. Mitsanas, a Principal of Newmark, structured the financing to accommodate the transaction, which included a phased purchase-sale option. Specific terms were not disclosed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Demetri Koston at (310) 846-5306, George Mitsanas at (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$13,250,000 for Peninsula Office Complexes in Palo Alto, CA
Newmark Realty Capital, Inc. recently arranged financing on two properties located in Palo Alto and San Mateo, California. The Palo Alto property is a first mortgage loan in the amount of $5,425,000 for 3600 Bayshore, a 34,676 square foot office complex. The property is owned by affiliates of Mason-Tarlton Company, LLC. The San Mateo property is a non-recourse, first mortgage loan in the amount of $7,900,000 for City Plaza, a Class A, 62,690 square foot multi-tenant office building. The borrower / buyer is an entity sponsored by an experienced local real estate investor in the San Mateo area. This loan provides both acquisition financing and additional capital for the re-tenanting of the property. Eric Von Berg, Principal of Newmark, secured the loans through Newstar Financial Inc., a Boston-based commercial finance company with extensive origination capabilities and $2 billion in lending capacity. Newmark acted as the exclusive financial advisor to the borrowers and will service the loans for the lender. With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on these tranactions please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.
$211,000 for Office Complex in Torrance, CA
Newmark Realty Capital, Inc. has arranged $36,250,000 in permanent financing for the acquisition of a four building, 211,000 square foot, Class A office complex in Torrance, in the South Bay section of Los Angeles. The property was built in the early 1990.s and is primarily occupied by blue chip tenants including Honda, John Deere and Kaiser Permanente. Mark Ritchie, Principal of Newmark, arranged the fixed rate financing through Morgan Stanley Mortgage Capital. The loan features a 6.23% rate for a 10 year term including four years of interest only payments. Under the volatile market conditions of the past month Morgan Stanley worked with the borrower and Newmark to timely close the transaction. Ritchie reported that Morgan Stanley delivered a very competitive financing package, while many other lenders were sidelined. With offices in Los Angeles, San Francisco, Sacramento, Irvine, Seattle, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Mark Ritchie at (310) 846-5303 or Michael Heagerty at (415) 956-9854.
$41,500,000 for Retail Center in Seattle , WA
Mike Taylor and Hans Siebert, both Principals of Newmark Realty Capital, Inc, recently arranged financing in the amount of $41,500,000 for the Mill Creek Town Center in Mill Creek, Washington. Mill Creek Town Center is an 180,000 square foot neighborhood retail center anchored by the up-scale grocer Central Market. Newmark secured the loan through its correspondent Teachers Insurance and Annuity Association of America (TIAA-CREF), a national financial services organization with more than $406 billion in combined assets under management. Mike Taylor and Hans Siebert worked together to facilitate the assumption of a $19,500,000 loan placed by Hans Siebert in 2005 and placement of $22,000,000 in new financing to facilitate the purchase of the property by Panos Properties, a longtime client of Mike Taylor.s. Panos Properties, LLC is a family-owned investment company that owns a portfolio of retail properties throughout the Puget Sound region that it self-manages. In addition to its investments in commercial real estate, the company has interests in public securities and private equity. The company was founded by Steve Panos in 1961. His son, Tim Panos, a former investment banker, joined the company as a principal in 2002. The new financing included a $2.8 million funding along with the loan assumption and a $19.2 million forward commitment to fund with the purchase of the second phase of the center, scheduled for March of 2008. Of particular interest to TIAA was the large amount of equity with a loan-to-cost of 59% on a combined purchase price for both phases of $70,000,000 and the strength and quality of the new borrower. With offices in Seattle, San Francisco, Sacramento, Los Angeles, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Mike Taylor at (206) 816-6816, Hans Siebert at (206) 816-6811, or Michael Heagerty at (415) 956-9854.
$12,000,000 for Retail Center in Las Cruces, NM
Working on an exclusive basis, William Monheit, Principal of Newmark Realty Capital, Inc., recently arranged financing in the amount of $12,000,000 for the Laguna Seca Shopping Center in Las Cruces, New Mexico. Laguna Seca is a 117,270 square foot retail center anchored by Ross Stores, Pier 1 Imports, Big 5 Sporting Goods, Marshall’s and PetCo. Financing was provided by Goldman Sachs Commercial Mortgage Capital, L.P. at a rate of 6.08% on a 10 year term with a 30 year amortization. Despite the extremely volatile market activity occurring in late July during the closing, Goldman Sachs worked with Newmark to close the transaction on the terms of the loan as applied for by the Borrower. With offices in San Francisco, Sacramento, Los Angeles, Irvine, Phoenix, Las Vegas and Seattle, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact William Monheit at (415) 956-9851, or Michael Heagerty at (415) 956-9854.
$50,000,000 for Retail Center in Las Vegas, AL
Peter G. Welsh, a Managing Principal of Newmark Realty Capital Inc., recently arranged financing in the amount of $50,000,000 for the Eastern Beltway Center in Las Vegas, Nevada. At 633,000 SF, Eastern Beltway Center is one of Las Vegas’ largest power centers and is anchored by national retailers Wal-Mart, Sam’s Club, and Home Depot. Newmark secured the loan through their correspondent Teachers Insurance and Annuity Association of America (TIAA-CREF). Of particular interest, the new TIAA life insurance company financing replaced existing conduit financing on terms competitive with, or superior to, CMBS loans. Peter Welsh has arranged approximately $300,000,000 in financing for seven major retail centers in the Las Vegas area, including four Wal-Mart anchored centers, over the last six years. With offices in Los Angeles, San Francisco, Sacramento, Phoenix, Irvine, Las Vegas and Seattle, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurancecompanies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Peter Welsh at (310) 846-5298, Bahman Mirhashemi at (310) 846-5304, or Michael Heagerty at (415) 956-9854
$7,200,000 for Industrial Building in San Jose, CA
Braden Turnbull and Demetri Koston of Newmark Realty Capital, Inc., have arranged owner-user acquisition financing in the amount of $7,200,000 for a 44,100 square foot freestanding office/industrial property located in San Jose, California. The property was acquired by the tenant, Rosendin Electric, Inc., one of the largest electrical contractors in the nation. The property serves as the company’s headquarters. Newmark represented the company on an exclusive basis and arranged the financing through a life insurance company. Newmark was able to secure the loan and fix the interest rate about six months prior to funding. Other specific terms of the loan were not disclosed. The security consists of a three-story office building plus approximately three acres of industrial yard space. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Braden Turnbull at (310) 846-5301, Demetri Koston at (310) 846-5306 or Michael Heagerty at (415) 956-9854.
$11,000,000 for Wells Fargo Center in Tacoma, WA
$34,000,000 for Eagle Glen Apartments in Murietta, CA
Over the course of capital market cycles life insurance companies may decide to sell commercial mortgages from their portfolios. In December 2002 Peter G. Welsh, Managing Principal in our Los Angeles office arranged a conventional permanent loan of $34,000,000 from a life insurance company on the Eagle Glen Apartments, a 320 unit condominium-quality multi-family complex in Murietta, California. Several months ago the original lender sold the loan (as part of a pool of loans) to an institutional lender, who, in turn, planned to securitize the outstanding balance of the loan. Acting quickly on behalf of both the borrower and the institutional lender, Peter along with his partner in Newmark Realty Capital, Inc. George Mitsanas, negotiated a restructuring of the loan to benefit both parties. In this restructure the loan amount was increased to $35,000,000, the interest rate was reduced to a competitive market rate and debt service was further reduced by modifying amortization to an interest-only basis, insurance provisions were relaxed, and the term was extended to 10 years. In exchange for these accommodations the lender received a discounted prepayment premium, a modified entity structure compatible with today’s CMBS guidelines and a full 10 year loan term. Over the past few years George and Peter have worked with borrowers to restructure over $300MM in loans to the benefit of all parties involved. Newmark Realty Capital, Inc. looks forward to working with you on all of your commercial property financing needs regardless of how straight forward or complex. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas, and Phoenix, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Peter Welsh at (310) 846-5298, or Michael Heagerty at (415) 956-9854.
$16,120,000 for Industrial Building in Panorama City, CA
Terri M. Slocombe and Braden Turnbull, Principals of Newmark Realty Capital, Inc., have arranged permanent financing in the amount of $16,120,000 for a 197,000 SF freestanding industrial/warehouse building located in the San Fernando Valley. Newmark arranged this financing on behalf of the borrower through State Farm Life Insurance Company. This is a repeat borrower of Newmark and State Farm. The building was new and only 50% leased at closing. Specific terms of the loan were not disclosed. The security consists of a concrete tilt-up industrial building that has a footprint area of 169,913 SF, plus 27,621 SF of mezzanine floor space situated on 8.46 acres. With offices in San Francisco, Los Angeles, Sacramento, Seattle, Irvine, Phoenix, and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Terri Slocombe at (415) 956-9898, or Michael Heagerty at (415) 956-9854.
$247,000,000 for Retail Portfolio in Phoenix , AZ
Timothy W. Storey, a Principal of Newmark Realty Capital, Inc. has arranged $267,000,000 in permanent and mezzanine financing for a retail portfolio consisting of eleven (11) neighborhood shopping centers totaling 1.67 million square feet. The portfolio consists of eight grocery anchored centers, one power center, and two strip centers located in Phoenix, Tempe, Mesa, Glendale, and Peoria, Arizona. Approximately 60% of the tenants are national retailers with investment grade credit ratings, such as Wal-Mart, Safeway, Walgreens, PetSmart, Best Buy, and Kroger. The properties were built between 1971 and 2004 and many of them have been renovated in recent years. The properties range in size from 34,720 to 305,682 square feet. Newmark arranged the fixed rate and mezzanine financing on behalf of a Phoenix based borrower. The senior loan was funded by Principal Commercial Funding and the mezzanine loan was funded by NRF Capital. With offices in Phoenix, San Francisco, Los Angeles, Sacramento, Irvine, Las Vegas, and Seattle, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Tim Storey at (602) 374-7854 or Michael Heagerty at (415) 956-9854.
$5,000,000 for Retail Strip Shopping Center in San Jose, CA
Terri M. Slocombe, Principal of Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $5,000,000. The subject is comprised of a 32,312 SF, eighteen-tenant, strip retail center and and includes four buildings. The shopping center is located near the northeast corner of the intersection of Berryessa and Lundy Roads in the city of San Jose. Newmark arranged this financing on behalf of the borrower through Genworth Life Insurance Company. Specific terms of the loan were not disclosed. The security consists of a concrete tilt-up industrial building that has a footprint area of 33,349 SF, situated on 148,539 SF. With offices in San Francisco, Los Angeles, Phoenix, Sacramento, Seattle, Irvine, and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurancecompanies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Terri Slocombe at (415) 956-9898, or Michael Heagerty (415) 956-9854.
$1,200,000,000 for Landmark Towers in Woodland Hills, CA
George H. Mitsanas of Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $120,000,000, with a 13 year term, for a 448,072 SF Class “A”, 13 story high rise office tower, located in Woodland Hills, California. During 2004, Mr. Mitsanas had arranged an $85,000,000 loan for this asset. Acting as the borrower’s exclusive mortgage banker, Newmark arranged the financing through its servicing correspondent, Deutsche Bank Mortgage Capital (DBMC). During the past three years, Mr. Mitsanas and his fellow Newmark principals have placed in excess of $1,000,000,000 with DBMC. The subject property is located in the heart of Warner Center, one of Los Angeles’ premiere office markets in proximity to 101 Freeway, restaurants, shopping, and entertainment. Part of the Warner Center master-planned community consists of over 2 million Square Foot of office product. Newmark principals have financed over $600 million in the Warner Center. The property is 100% leased to a single, investment grade tenant. Due to the unique nature of the lease, the DBMC loan represents a complex and well-thought-out capital structure. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Phoenix, and Las Vegas, Newmark Realty Capital, Inc. is a privately held, full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets.
$120,000,000 for Refinancing of Landmark Towers in Woodland Hills, CA
George H. Mitsanas of Newmark Realty Capital, Inc., has arranged permanent financing in the amount of $120,000,000, with a 13 year term, for a 448,072 SF Class “A”, 13 story high rise office tower, located in Woodland Hills, California. During 2004, Mr. Mitsanas had arranged an $85,000,000 loan for this asset. Acting as the borrower’s exclusive mortgage banker, Newmark arranged the financing through its servicing correspondent, Deutsche Bank Mortgage Capital (DBMC). During the past three years, Mr. Mitsanas and his fellow Newmark principals have placed in excess of $1,000,000,000 with DBMC. The subject property is located in the heart of Warner Center, one of Los Angeles’ premiere office markets in proximity to 101 Freeway, restaurants, shopping, and entertainment. Part of the Warner Center master-planned community consists of over 2 million Square Foot of office product. Newmark principals have financed over $600 million in the Warner Center. The property is 100% leased to a single, investment grade tenant. Due to the unique nature of the lease, the DBMC loan represents a complex and well-thought-out capital structure. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Phoenix, and Las Vegas, Newmark Realty Capital, Inc. is a privately held, full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact George Mitsanas (310) 846-5299 or Michael Heagerty at (415) 956-9854.
$9,650,000 for Retail Center in Bakersfield, CA
Demetri M. Koston and Braden C. Turnbull, both of Newmark Realty Capital, Inc., arranged financing totaling $9,650,000 for the construction of a retail center in northwest Bakersfield. Upon completion scheduled for December 2007, the property will include almost 50,000 square feet of new retail space in three separate buildings. Prior to construction, the property was vacant land totaling about five acres. The retail space was nearly 80% pre-leased prior to commencement of construction. The property is situated along the main retail corridor in one of the fastest growing submarkets in the Central Valley. Newmark was retained exclusively by the Borrower, and financing was arranged through a Sacramento-based bank. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Demetri Koston (310) 846-5306, Braden Turnbull (310) 846-5301, or Michael Heagerty (415) 956.9854.
$10,540,000 for Retail Center in Bakersfield, CA
William Monheit, Principal of Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $10,540,000 for 98,175 SF of retail shopping center in Bakersfield, California. The financing was arranged on behalf of the Borrower through Citigroup Global Markets Realty Corp. The shopping center is located on the Northeast corner of White Lane and Ashe Road in Bakersfield. The center includes three buildings and is anchored by a 58,239 square foot Food Maxx. The buildings were constructed in 1986 and are situated on approximately 8.17 acres. With offices in San Francisco, Los Angeles, Sacramento, Phoenix, Seattle, Irvine, and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact William Monheit at (415) 956-9851 or Michael Heagerty (415) 956 9854.
$4545 for test test test in Tuscaloosca, AL
$6,500,000 for Grocery Anchored Shopping Center in Cottonwood, AZ
Timothy W. Storey of Newmark Realty Capital, Inc. has arranged bridge financing in the amount of $6,500,000 for Verde Valley Plaza located in Cottonwood, Arizona. Newmark arranged this financing with Midfirst Bank on behalf of the borrower who plans to do a complete exterior renovation of the project over the next 12-24 months. Verde Valley Plaza consists of a 104,000 square foot grocery-anchored shopping center located in the heart of Cottonwood, Arizona. The grocery anchored center is comprised of four single-story buildings; a central grocery anchored space occupied by Food City (Bashas’) bordered by two mini-anchors and shops to the east and west. The property underwent significant renovations in 1984/1985 and a complete remodel of the Sears space in 2003. Located on approximately 10-acres, the subject was originally constructed in several stages during the 1960’s concluding in 1999 with a free standing building in the southeast portion of the center. The property is currently 100% occupied and enjoys excellent visibility and access to both Main Street and Highway 89A in Cottonwood. With offices in Phoenix, San Francisco, Los Angeles, Seattle, Irvine, Sacramento, and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets.
$23,500,000 for Pair of Hawaiian Shopping Centers in Honululu, HI
Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged these loans for two neighboring centers totaling nearly 170,000 sq. ft. Both of these loans were subject to unsubordinated ground leases, which are fairly typical in Hawaii. The centers located on Kamehameha Highway outside of Honolulu were financed with one of Newmark’s life company correspondents. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with over 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Mark Ritchie at (310) 846-5303.
$13,200,000 for Bay Area Apartment Complexes in San Francisco, CA
Eric Von Berg of Newmark Realty Capital, Inc. obtained three forward commitments totaling $13.2 million from Genworth Financial, one of Newmark’s life insurance correspondent lenders. The commitments allowed the owner to lock in the interest rate today at below 6.0% for fundings 12 to 15 months in the future. The loans could not fund today due to high prepayment penalties and/ or defeasance requirements in the existing loans. The new loans are secured by three class B apartment complexes in Hayward and Fremont built in the 1960’s and 1970’s. The underwriting is based on 75% LTV, with minimum debt service coverage of 1.20X. On all three deals, the rate was locked for the entire 13-year loan terms with amortization at 30-years. Newmark Realty Capital, Inc. will service the loans on behalf of its correspondent lender. The loans will be funded and held by a portfolio lender that values its long term relationships with its borrower clients. With access to numerous permanent and bridge financing sources, Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. With offices in San Francisco, Los Angeles, Sacramento, Seattle, Irvine, Phoenix, and Las Vegas, Newmark Realty Capital, Inc. is a privately held, full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Eric Von Berg at (415) 956-9922, Tom Dao (415) 956-9858, and Michael Heagerty (415) 956 9854.
$7,150,000 for Mixed Used Properties in San Francisco, CA
Demetri M. Koston and Mitch Zeemont, both of Newmark Realty Capital, Inc., arranged financing totaling $7,150,000 for several mixed use properties in the North Beach neighborhood of San Francisco during 2006. The properties all feature ground floor retail uses, with multi-family apartment units on the upper floors. The properties are all situated in classic in-fill locations, in the heart of one of the most desirable neighborhoods in San Francisco. Further, the retail includes some of the most well-known storefronts in San Francisco such as the Columbus Café, and the original sites of the New Pisa Restaurant, the La Felce Restaurant, and the Lost & Found Saloon. Newmark secured the debt for acquisition, refinancing, and acquisition & development, and also obtained some secondary financing from several different financial institutions. Most of the capital was provided for immediate funding, and a portion was secured to fund in the future. Newmark was retained exclusively by the Borrowers, and arranged financing on behalf of one of its servicing correspondent life companies, and also through several commercial banks. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Demetri Koston (310) 846-5306, or Mitch Zeemont (415) 956-9885.
$16,850,000 for Southern Califronia Industrial Buildings in Los Angeles, CA
Peter G. Welsh, Managing Principal of Newmark Realty Capital, Inc, has arranged permanent financing in the combined amount of $16,850,000 for a portfolio of Southern California industrial buildings. Located in Los Angeles, Orange, San Diego, Riverside and San Bernardino Counties, the portfolio consists of 39 primarily single tenant manufacturing and light distribution buildings totaling approximately 500,000 S.F. The properties were developed and are still owned by the principals of Rancho Santa Margarita-based Saddleback Associates. The 10 year loan was crafted to contain prepayment, partial pay-down, collateral substitution and release features not commonly found in conventional life company or CMBS loans. Financing was provided by Minneapolis-based Riversource Investments, LLC (formerly American Express Financial Services) a Newmark Realty Capital, Inc. loan correspondent. With offices in Los Angeles, San Francisco, Sacramento, Phoenix, Irvine, Las Vegas and Seattle, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Peter G. Welsh (310-846-5298) or Michael Heagerty (415-956-9854).
$10,650,000 for New Health Club in Antioch, CA
Demetri M. Koston and Braden C. Turnbull, both of Newmark Realty Capital, Inc., have arranged construction and permanent financing totaling $10,650,000 for a new health club facility. The 60,000 square foot health club is being built on previously vacant land in Antioch, CA. The club is already pre-selling memberships, and is expected to open in the late spring of 2007. The construction financing will convert to permanent financing upon project completion. The interest rate for the permanent loan has already been fixed for the entire term of the loan. Specific terms of the loan were not disclosed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Demetri Koston (310) 846-5306, or Michael Heagerty (415) 956-9854.
$10,600,000 for Mobile Home Community in Fresno, CA
Demetri M. Koston and George H. Mitsanas, both of Newmark Realty Capital, Inc., have arranged acquisition financing totaling $10,600,000 for a 196-unit mobile home community located in Fresno, California. Due to the nature of the acquisition, Newmark arranged an unsecured bridge loan of $2.80 million for immediate funding, plus an additional $7.80 million for funding in July 2007. Newmark arranged the financing on behalf of one of its servicing correspondent life companies. Specific terms of the loan were not disclosed. The property was acquired by one of the largest owners of multi-family properties in California. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
$100,000,000 for Two Multifamily Communities in Thousand Oaks, CA
Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged $100,000,000 in financing for two luxury apartment complexes totaling 672 units. According to Ritchie, the client considered both life company and agency loans and decided to finance with one of Newmark’s correspondent life insurers. This insurer prevailed with excellent teams for this low leverage opportunity and the ability to lock interest rate in a matter of days. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services nearly $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Mark Ritchie at (310) 846-5303.
$108,000,000 for Southern California and Honolulu in Century City, CA
George H. Mitsanas, Principal of Newmark Realty Capital, Inc., has arranged financing in the amount of $108,000,000 for a portfolio of three Class “A” landmark high-rise office buildings located in Century City, California and Honolulu, Hawaii is CBD along with several significant store-front retail buildings located along Montana Ave. in Santa Monica and Westwood Blvd. in Westwood, CA. The properties are premiere, first-class, projects with excellent locations. Working on an exclusive basis, Newmark arranged the highly structured financing on behalf of one of its servicing life company correspondents, ING. Specific terms of the loans were not disclosed. With offices in Los Angeles, San Francisco, Sacramento, San Jose, Irvine, Phoenix, and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets.
$9,000,000 for Safari Industrial Park in Ontario, CA
Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged $9,000,000 in financing for the 425,000 sq. ft, six building Safari Industrial Park in Ontario, CA. This $9MM loan was through one of Newmark’s life company correspondents. With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services nearly $6 billion with nearly 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact Mark Ritchie at (310) 846-5303.
$20,200,000 for Two Office Buildings in San Francisco, CA
George H. Mitsanas, Principal of Newmark Realty Capital, Inc., has arranged financing in the amount of $20,200,000 for two office buildings in the north waterfront district of downtown San Francisco. Working on an exclusive basis, Newmark arranged the financing on behalf of one of its servicing correspondents. Specific terms of the loan were not disclosed. The buildings were originally constructed as warehouse buildings in the early 1900’s and were converted to office use and completely renovated in 1997 and 1999. The buildings consist of five and six stories and consist of approximately 102,000 square feet of net rentable area, occupied by three media and technology-oriented tenants including Pearson Education, Publicis Dialogue and Telephia. Pearson’s parent company is Pearson PLC (NYSE:PSO) the international media company which also owns 50% of The Economist magazine. Publicis Dialogue is a global advertising and public relations firm based on France (NYSE:PUB). Telephia is a market research firm specializing in the wireless telecommunications industry. The properties are located in an historic area of downtown currently undergoing major redevelopment. The property is surrounded by other Class A buildings including Levi Plaza in addition to various restaurants, shopping, and public transportation. Earlier this year, Mr. Mitsanas closed a $44,000,000 permanent loan for CNET’s corporate headquarters also located in downtown San Francisco. San Vicente Blvd Wilshire Blvd With offices in Los Angeles, San Francisco, Sacramento, San Jose, Irvine, Phoenix, and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets.
$29,800,000 for Portfolio in Brentwood, CA
Newmark Realty Capital, Inc. Principals George H. Mitsanas and Mark C. Ritchie have completed $29.8 million in financing for a portfolio of four properties totaling nearly 200,000 square feet of Class A office, medical office, and retail space. The portfolio includes four separate buildings located in the prestigious area of Brentwood in Los Angeles, California. The properties are situated along San Vicente Boulevard, and in addition to the vibrant office market, the neighborhood boasts trendy restaurants, boutiques, specialty retail, and excellent proximity to nearby affluent communities. Newmark arranged this LIBOR-based financing on behalf of its correspondent, ING Investment Management. During the past twelve months, Newmark has arranged approximately $2 billion in financing throughout the western United States. With offices in Los Angeles, San Francisco, Sacramento, San Jose, Irvine, Phoenix, and Las Vegas, Newmark Realty Capital, Inc. is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Newmark originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits, and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets.
$85000000 for Financing for Woodland Hills, CA in Woodland Hills, CA
George H. Mitsanas of Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $85,000,000, with a 15 year term, for a 448,072 SF Class “A”, 13 story highrise office tower, located in Woodland Hills, California. Acting as the borrower’s exclusive mortgage banker, Newmark arranged the financing through its servicing correspondent, DBMC. During the past three years, Mr. Mitsanas and his fellow Newmark principals have placed in excess of $500,000,000 with DBMC. The subject property is located in the heart of Warner Center, one of Los Angeles’ premiere office markets in proximity to (101) freeway, restaurants, shopping, and entertainment. Part of the Warner Center master-planned community consisting of over 2 million Square Foot of office product. Newmark principals have financed over $350 million in the Warner Center. The property is 100% leased to a single, investment grade tenant. Due to the unique nature of the lease, the Deutsche Bank Mortgage Capital (DBMC) loan represents a complex and well thought out capital structure. With offices in San Francisco, Los Angeles, Sacramento, San Jose, Orange County, Phoenix and Las Vegas. Newmark Realty Capital, Inc. is a privately held full service commercial mortgage banking firm that provides mortgage loans for income-producing properties. Newmark originates and services loans for its correspondent lenders who include Genworth (formerly GE Asset Management), StanCorp Mortgage Investors, LLC, ING Investment Management, TIAA-CREF (Teachers), Canada Life, American Fidelity Group, Advantus, State Farm Life, Allstate Life, and AIG Global Investment Group, Inc. Newmark also arranges financing with a variety of other insurance companies, Wall Street conduits, commercial banks, and lending institutions.
$85,000,000 for Financing in Woodland Hills, CA
George H. Mitsanas of Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $85,000,000, with a 15 year term, for a 448,072 SF Class “A”, 13 story highrise office tower, located in Woodland Hills, California. Acting as the borrower’s exclusive mortgage banker, Newmark arranged the financing through its servicing correspondent, DBMC. During the past three years, Mr. Mitsanas and his fellow Newmark principals have placed in excess of $500,000,000 with DBMC. The subject property is located in the heart of Warner Center, one of Los Angeles’ premiere office markets in proximity to (101) freeway, restaurants, shopping, and entertainment. Part of the Warner Center master-planned community consisting of over 2 million Square Foot of office product. Newmark principals have financed over $350 million in the Warner Center. The property is 100% leased to a single, investment grade tenant. Due to the unique nature of the lease, the Deutsche Bank Mortgage Capital (DBMC) loan represents a complex and well thought out capital structure. With offices in San Francisco, Los Angeles, Sacramento, San Jose, Orange County, Phoenix and Las Vegas. Newmark Realty Capital, Inc. is a privately held full service commercial mortgage banking firm that provides mortgage loans for income-producing properties. Newmark originates and services loans for its correspondent lenders who include Genworth (formerly GE Asset Management), StanCorp Mortgage Investors, LLC, ING Investment Management, TIAA-CREF (Teachers), Canada Life, American Fidelity Group, Advantus, State Farm Life, Allstate Life, and AIG Global Investment Group, Inc. Newmark also arranges financing with a variety of other insurance companies, Wall Street conduits, commercial banks, and lending institutions.
$48500000 for Financing for Long Beach, CA in Long Beach , CA
George Mitsanas of Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $48,500,000, with a 20 year term, amortized over 25 years, for the Marina Pacifica Shopping Center located in Long Beach, California. Newmark arranged the financing with Teachers Insurance & Annuity Association which is part of TIAA-CREF, a national financial services company and leading provider of retirement services in the academic, research, medical and cultural fields. The subject property is a 477,476 SF seasoned retail center generating store sales at the top of their respective chains. The subject is anchored by Ralph’s, AMC, Tower Records and Good Guys. Some strengths behind the property are its excellent occupancy history and experienced LA based private borrower. The retail center is adjacent to Naples and Belmont Shore, Long Beach’s most exclusive neighborhood. Newmark Realty Capital, Inc. is a full service commercial mortgage banking firm that provides mortgage loans for income-producing properties. Newmark originates and services loans for its correspondent lenders who include Genworth (formerly GE Asset Management), StanCorp Mortgage Investors, LLC, ING Investment Management, TIAA-CREF (Teachers), Canada Life, American Fidelity Group, Collateral Mortgage Capital, LLC, Advantus, State Farm Life, Allstate Life, and AIG Global Investment Group, Inc. Newmark also arranges financing with a variety of other insurance companies, Wall Street conduits, commercial banks, and lending institutions.
$48,500,000 for Financing in Long Beach, CA
George Mitsanas of Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $48,500,000, with a 20 year term, amortized over 25 years, for the Marina Pacifica Shopping Center located in Long Beach, California. Newmark arranged the financing with Teachers Insurance & Annuity Association which is part of TIAA-CREF, a national financial services company and leading provider of retirement services in the academic, research, medical and cultural fields. The subject property is a 477,476 SF seasoned retail center generating store sales at the top of their respective chains. The subject is anchored by Ralph’s, AMC, Tower Records and Good Guys. Some strengths behind the property are its excellent occupancy history and experienced LA based private borrower. The retail center is adjacent to Naples and Belmont Shore, Long Beach’s most exclusive neighborhood. Newmark Realty Capital, Inc. is a full service commercial mortgage banking firm that provides mortgage loans for income-producing properties. Newmark originates and services loans for its correspondent lenders who include Genworth (formerly GE Asset Management), StanCorp Mortgage Investors, LLC, ING Investment Management, TIAA-CREF (Teachers), Canada Life, American Fidelity Group, Collateral Mortgage Capital, LLC, Advantus, State Farm Life, Allstate Life, and AIG Global Investment Group, Inc. Newmark also arranges financing with a variety of other insurance companies, Wall Street conduits, commercial banks, and lending institutions.
$8,200,000 for Industrial Portfolios in Los Angeles, CA
Demetri M. Koston and George H. Mitsanas, both of Newmark Realty Capital, Inc., have arranged permanent financing totaling approximately $8,200,000 for two portfolios of industrial property. The portfolios include properties located throughout Los Angeles and Orange Counties, the San Francisco Bay Area, and Sacramento. The portfolios include single tenant and multi-tenant properties, new and existing construction, and also sale-leasebacks. Newmark arranged a portion of the financing on behalf of one of its servicing correspondent life companies, and a portion through the CMBS market. Both portfolios will be serviced by Newmark. Specific terms of the loan were not disclosed. Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in November 1991, Newmark is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation. For more information on this transaction please contact George Mitsanas (310) 846-5299, Demetri Koston (310) 846-5306, or Michael Heagerty (415) 956-9854.
$48,500,000 for Financing in Long Beach, CA
George Mitsanas of Newmark Realty Capital, Inc. has arranged permanent financing in the amount of $48,500,000, with a 20 year term, amortized over 25 years, for the Marina Pacifica Shopping Center located in Long Beach, California. Newmark arranged the financing with Teachers Insurance & Annuity Association which is part of TIAA-CREF, a national financial services company and leading provider of retirement services in the academic, research, medical and cultural fields.
The subject property is a 477,476 SF seasoned retail center generating store sales at the top of their respective chains. The subject is anchored by Ralph’s, AMC, Tower Records and Good Guys. Some strengths behind the property are its excellent occupancy history and experienced LA based private borrower. The retail center is adjacent to Naples and Belmont Shore, Long Beach’s most exclusive neighborhood.
Newmark Realty Capital, Inc. is a full service commercial mortgage banking firm that provides mortgage loans for income-producing properties. Newmark originates and services loans for its correspondent lenders who include Genworth (formerly GE Asset Management), StanCorp Mortgage Investors, LLC, ING Investment Management, TIAA-CREF (Teachers), Canada Life, American Fidelity Group, Collateral Mortgage Capital, LLC, Advantus, State Farm Life, Allstate Life, and AIG Global Investment Group, Inc. Newmark also arranges financing with a variety of other insurance companies, Wall Street conduits, commercial banks, and lending institutions.
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Newmark Realty Capital, Inc. arranged the refinancing for SOMA Self Storage with a fixed rate loan. SOMA Self Storage is a best-in-class, self-storage facility. The property consists of 1,288 storage units, in a 7-story tower with a basement.
$4,700,000 for Social Security Building in San Antonio, TX
On behalf on one of its correspondent life companies, Mark Ritchie, a Principal of Newmark Realty Capital, Inc., has arranged a fully amortizing $4.7MM loan for his client, a Houston, TX based developer. Newmark has now financed nearly $1BB under this CTL program, pioneered by Newmark and its’ life company. Originally focused on larger CTL financings, Newmark/lender has made this program cost efficient, particularly for loans in the $5 -10MM range, noted Ritchie.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. In addition to arranging loans, Newmark is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Newmark is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with over 800 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Mark Ritchie at (310) 846-5303.