Commercial Loans and Refinance of Retail Property | Commercial ...

The Washington D.C. Submarket of Crystal City realizes a $161,000,000 Refinance for Two Multi-Family Properties

Mezzanine Financing and Commercial Loans on Washington D.C Real Estate

Bainbridge Cos. and The Carlyle Group have secured two loans totaling $161.4 million for the refinancing of two apartment properties in the thriving Washington, D.C. area. The assets, The Bennington and Crystal Square, encompass an aggregate 726 residences.

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Located in the Crystal City submarket of Arlington, Va., approximately five miles east of D.C., The Bennington is a 19-story tower containing 348 units within close proximity of two Metro stations. With the assistance of commercial real estate services firm Jones Lang LaSalle?s Capital Markets team, Bainbridge and Carlyle obtained a $68.3 million loan to replace existing debt on the property. And for Crystal Square, which consists of 378 units in a 17-story high-rise directly across from a Metro station in Crystal City, a $93.1 million loan was put in place.

JLL originated both loans through Freddie Mac?s Capital Markets Execution program, relying on the solid reputation of Bainbridge and Carlyle, as well as their successful property management of the assets, as a selling point

Mixed-Use Buckhead Place Development in Atlanta, Georgis Recives a $50,000,000 Refinace

Buckhead Place, a mixed-use development in the Buckhead submarket of Atlanta, has just seen a $50 million permanent financing arranged by CBRE Group Inc.?s capital markets team. The debt & equity finance team of CBRE?s Atlanta represented the development?s owner, Buckhead Place L.L.C. through the company?s partner, Coro Realty Advisors. This is a fantastic area, one of the best in Atlanta.

Commercial Loans and Refinance of Retail Property and Apartments

The loan was placed through Nationwide Life Insurance Co., CBRE?s longtime correspondent lender, below a 4 percent interest rate.

Buckhead Place, located at the southwest corner of Peachtree Road and Piedmont Road in the Buckhead submarket, is a mixed-use development comprised of residential, retail, restaurant and hospitality tenants. Built near the main entrance of the retail site in 2009, 05 Buckhead is a 21-story luxury high-rise apartment building with 155 units. Longstanding Buckhead Place retailers include Marshall?s, LA Fitness and restaurant Gordon Biersch, which encompass 137,181 square feet of the project. Hyatt Place was constructed in 1996 on the corner of the prominent intersection and features 171 guest rooms.

Buckhead Place Situated in Premier Location for Net Lease Funding

The recent office overbuilding gave a few lenders some pause, but the rapid absorption has brought the true believers back. Buckhead Place has been under the same ownership and virtually debt free for nearly three decades. The Net Leased Property owner decided rates were low enough for 50 percent leveraging of the development.

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