DEAL SUMMARIES

25th & Lamar

$26,500,000 Construction Loan

125-Unit Condominium Development

Austin, TX

Highland arranged a $26,500,000 construction loan to fund the development of a 125-unit condo project in Austin, TX. The 75% LTC, non-recourse construction financing was placed with a private lender.

Campus Walk

$11,250,000, Permanent Loan

46-unit, 174-bed luxury student housing

Chico, CA

Highland arranged an $11,250,000, 60% LTV, 10-year CMBS permanent loan for the acquisition of a 46-unit, 174-bed luxury student housing complex adjacent to California State University, Chico.

Gardena Neighborhood Retail Center

$23,000,000 low leverage CMBS perm loan

128,000 sf Vons anchored neighborhood shopping center

Gardena, CA

Highland placed a $23,000,000 low leverage CMBS perm loan on a 128,000 sf Vons anchored neighborhood shopping center in the Gardena submarket of Los Angeles. The 10-year interest only loan provided significant cash out to the borrower.

Marriott TownPlace Suites

$11,690,000, 70% LTV, 10-year CMBS permanent loan

124-key TownePlace Suites by Marriott

Laredo, TX

Highland arranged an $11,690,000, 70% LTV, 10-year CMBS permanent loan to refinance construction debt and return some equity on a 124-key TownePlace Suites by Marriott in Laredo, TX.

Nine at Memphis

$7,000,000 preferred equity

113-unit recently built student housing

Memphis, TN

Highland placed $7,000,000 of preferred equity up to 85% LTC for the acquisition of a 113-unit recently built student housing asset adjacent to the University of Memphis. The preferred equity will serve as a placeholder until the Sponsor raises equity through a Delaware Statutory Trust (DST).

Village Walk

$66,500,000, 75% LTV, 2.5-year bridge loan

149,000 sf Whole Foods anchored shopping center

Tarzana, CA

Highland placed a $66,500,000, 75% LTV, 2.5-year bridge loan to refinance, complete capital improvements, and fund remaining tenant improvement and leasing costs on a 149,000 sf Whole Foods anchored shopping center in the Tarzana submarket of Los Angeles.

Chateau Marina Apartments & Fiji Villas Apartments

$98,900,000, 10-year perm loan

Two luxury apartment projects totaling 500 units

Marina Del Rey, CA

Highland arranged a $98,900,000, 10-year perm loan to refinance two luxury apartment projects totaling roughly 500 units in the Marina Del Rey submarket of Los Angeles.

Bay Shore Mixed Use

$13,000,000, 75% LTC, 3-year bridge loan

2-story, 57,000 square foot mixed use property

Bay Shore, NY

Highland arranged a $13,000,000, 75% LTC, 3-year bridge loan to complete renovations on a 2-story, 57,000 square foot mixed use property in Bay Shore, NY, on the south shore of Long Island. Due to increased project scope and construction cost overruns, Sponsor was unable to complete ...

Exposition

$14,560,000, 65% LTV, 10-year permanent loan

30,000 square foot creative office building

Los Angeles, CA

Highland arranged a $14,560,000, 65% LTV, 10-year permanent loan to refinance Exposition, a roughly 30,000 square foot creative office building in the Crenshaw submarket of central Los Angeles.

Sponsor purchased the asset in 2017, completed close to $3.0mm in capital ...

SpringHill Suites

$15,000,000, 67% LTV, 10-year permanent loan

4-story, 128-key SpringHill Suites by Marriott

The Rim in San Antonio, TX

Highland arranged a $15,000,000, 67% LTV, 10-year permanent loan on a 4-story, 128-key SpringHill Suites by Marriott at The Rim in San Antonio, Texas. Sponsor developed the all-suite hotel in 2016 and intends to hold the asset long term. Proceeds were used to refinance

Walnut Creek Transit Village BART Parking Garage

$8,000,000 10-year mid-construction/permanent loan

914-stall five-story structured commuter parking garage

Walnut Creek, CA

Highland has successfully capitalized the privately-owned Walnut Creek Transit Village BART Parking Garage, a 914-stall five-story structured commuter parking garage development located at the Walnut Creek BART station. The ...

Laguna Reserve Marketplace

Joint-venture equity partnership

33,308 square foot unanchored neighborhood retail center

Elk Grove, CA

Highland has successfully arranged a joint-venture equity partnership for the acquisition and value-add business plan of the Laguna Reserve Marketplace, a 33,308 square foot unanchored neighborhood retail center with the potential to develop the anchor tenant on adjacent ...

48 East Avenue

$87.9MM non-recourse construction loan

249-unit, 30-story Condominium Project

Austin, TX - Rainey District

Highland arranged the $87.9MM non-recourse construction loan for the 30-story, Austin condo project with a private balance-sheet lender focused on creating long-term relationships by originating, servicing and asset managing long- and short-term fixed-rate commercial real estate ...

Willow Creek Apartments

$18,500,000 non-recourse cash-out refinancing

107-unit 1980’s- vintage apartment building

Poway (San Diego), CA

Highland arranged an $18,500,000 non-recourse cash-out refinancing for Willow Creek Apartments, a 107-unit 1980’s- vintage apartment building located in the San Diego submarket of Poway between off Interstate 15. Highland identified a lender that provided significant ...

The Westin Palo Alto

$83,000,000 cash-out, non-recourse permanent loan

184 Key Full-Service Luxury Hotel

Palo Alto, CA

Highland arranged the $83,000,000 cash-out, non-recourse permanent loan for The Westin Palo Alto, a 184 key full-service luxury hotel, a ground-leased asset exceptionally located steps from Downtown Palo Alto. On behalf of the Sponsor, Highland ran a competitive lender bidding process ...

Truckee Railyard

$20,000,000 Land and Infrastructure Loan

Truckee Railyard - 38 Acres

Truckee, CA

Highland arranged the $20,000,000 Land and Infrastructure Loan to make the land ready for vertical construction. Site improvements include connecting utilities, relocating part of the railroad, building out parking, pathways, and streetscapes and building new roadways.

One of which will

El Norte Villas

$24,000,000 non-recourse cash-out refinancing

236 Unit Multi-family Property

Escondido, CA

Highland arranged a $24,000,000 non-recourse cash-out refinancing for El Norte Villas, a 236-unit 1980’s- vintage apartment building located in the San Diego submarket of Escondido between Interstate 15 and Highway 78. Highland identified a portfolio lender that provided significant cash-out up to ...

Park Royal Apartments

$21,000,000 non-recourse cash-out refinancing

73-unit 1950’s- vintage apartment building

San Mateo, CA

Highland arranged a $21,000,000 non-recourse cash-out refinancing for Park Royal Apartments, a 73-unit 1950’s- vintage apartment building located off El Camino Real in San Mateo. Highland identified a portfolio lender that provided significant cash-out up to 65% LTV for a 10 year ...

5th Street Public Market

$21,825,000 permanent loan

155,718 sf mixed-use retail, office, and hotel property

Eugene, OR

Highland arranged a $21,825,000 permanent loan, sized to 73% LTV, fixed for 10 years featuring 3 years of IO. 5th Street Public Market is a highly successful and acclaimed mixed-use project in downtown Eugene, Oregon. Owned since 1976 by the Sponsor, there are more than 60 exciting ...

Luxury Apartment Portfolio

$46.1 million forward commitment for permanent financing

Portfolio of three luxury apartment projects comprised of 250 units

Beverly Hills, West Hills and Sherman Oaks, CA

$46.1 million forward commitment for permanent financing arranged through a national pension fund. The buildings were in lease up, having been recently constructed or renovated, and the borrower wished to ...

City Place Apartments

Arranged Sale

221-unit luxury apartment over 76,000 square feet of retail.

Downtown Long Beach, CA

The principals of HRC arranged the sale of this newly constructed "Class A" apartment project, during lease up, to an apartment REIT. The $44 million purchase price represented an approximate 5.8% cap rate on Year 1 proforma NOI.

Premiere At Thousand Oaks

148-unit luxury apartment project

$17 million construction loan coupled with $1.3 million in mezzanine debt

Thousand Oaks, CA

$17 million construction loan coupled with $1.3 million in mezzanine debt, comprising 90% of total project costs. The mezzanine was competitively priced at approximately LIBOR + 7% with no profit participation. This high leverage financing enabled the ...

Williams Business Park

$36,500,000 cash-out 3% 10 Year Fixed

240,000 sf light-industrial business park

San Carlos, CA

Highland arranged $36,500,000 to help its client recapitalize and minimize the debt cost of the 1960’s-vintage 239,000-square foot light-industrial business park that is exceptionally well located in San Carlos equidistant between El Camino Real and Hwy 101. Given the superb location, ...

Heather Ridge Apartments

$7,500,000 non-recourse cash-out refinancing

73-unit 1990’s- vintage apartment building

Orangevale, CA

Highland arranged a $7,500,000 non-recourse cash-out refinancing for Heather Ridge Apartments, a 73-unit 1990’s- vintage apartment building located in the Sacramento submarket of Orangevale between Interstate 80 and Highway 50. Highland identified a lender that provided ...

310 7th Street

$6,500,000 cash-out refinance permanent loan

Historic office building

San Francisco, CA (SOMA Submarket)

Highland arranged a $6,500,000 cash-out refinance permanent loan for an owner-occupied historic office building, originally built in 1922. Highland identified a lender that provided significant cash-out, who was able to size the loan to 75% LTV and a 1.15x EBITDA/Coverage Ratio at a 10

The UNION

$18 million of joint-venture equity and $26 million of construction debt

110-unit Apartment Development

West Oakland, CA

Highland Realty Capital is pleased to announce the successful capitalization of The Union, a 110-unit apartment development located in an opportunity zone adjacent to the West Oakland BART Station. Highland sourced $18 million of joint-venture equity and $26 million of ...

InterContinental The Clement Hotel

$59M Hotel Construction Loan +
$72.5M CMBS Take-Out Permanent Loan

208-room full-service hotel and 10,000 square feet of meeting space

Monterey, CA

The property was originally slated to carry a 4.5-star flag, but because of favorable capital markets feedback during the construction loan solicitation process, the Borrower decided to operate the property as an ...

The DEN

$26.25M in development financing, including a $24M, 87% LTC construction loan

160 Bed Student Housing Development

Berkeley, CA

Highland raises $26.25M in development financing, including a $24M, 87% LTC construction loan for The DEN, a 160-bed Berkeley student housing development.

The Mayfair Hotel

$38.0 million bridge loan

294-key boutique hotel

Los Angeles, CA

HRC negotiated a $38.0 million bridge loan to refinance and complete renovations on The Mayfair, a 294-key boutique hotel just outside of Downtown Los Angeles. Since purchasing the 13-story asset in 2012, Sponsor has completed over $31.0 million of capital improvements, including remodeling all 294 rooms, completing ...

5000 Maplewood

$7,400,000 construction loan

Development of 8 Single Family Homes

Los Angeles, CA

HRC arranged a $7,400,000 construction loan for the development of 8 for sale single-family homes located in the Larchmont Village neighborhood in West Los Angeles, just 15 minutes from Downtown. Each home will consist of 3 bedrooms and 3.5 bathrooms, with a 2 car garage totaling 1,975 square feet. The ...

Creative Office

$11,100,000 bridge loan

31,000 square foot creative office building

Culver City, CA

HRC negotiated a $11,100,000 bridge loan for the renovation and repositioning of a 2-story, 31,000 square foot creative office building in Culver City, Los Angeles, immediately adjacent to Fox Hills Park. The property will be marketed to single-tenant users throughout the renovation period. Highland ...

Wolf Run Student Housing

$33,150,000 of joint venture equity and bridge financing

37-unit, 185-bed townhome style property

Reno, NV

HRC arranged $33,150,000 of joint venture equity and bridge financing for the acquisition of Wolf Run Village and Wolf Run East at the University of Nevada, Reno. On behalf of a Newport Beach based client, Highland placed the JV equity with a well known student housing ...

6630 Sunset Boulevard

$13.1M Construction Loan

A six-story, mixed-use luxury development.

Hollywood, CA

Financing:

Highland Realty Capital is pleased to announce the successful capitalization of 6630 Sunset Blvd in Hollywood, CA. Client engaged HRC to arrange a $13.1mm construction loan for the development of a six story, 37,000 SF mixed-use project consisting of 40 luxury apartment units ...

Ruckus 2.0

$28.5M A+D & Construction Loan

7-story, 236 bed student housing complex three blocks from University of Texas West Campus

Austin, TX

HRC arranged $28.5M of debt financing for the acquisition and development of Ruckus 2.0, a 66-unit student housing project expected to be delivered to market in the fall of 2019. This was Highland's second successful financing on behalf of the Sponsor in the

Victory Studios

$6.5M JV Equity & $12.55M Acquisition Bridge Loan

A 56,500 sf television production and broadcast facility on a 3.2 acre campus

1840 Victory Blvd, Glendale, CA 91201

HRC arranged for a portfolio lender to provide a non-recourse 65% LTC, 5-year, fixed rate bridge loan with a declining fixed prepay penalty which burns off after 3 years. The loan includes a future funding facility for ...

9841 Airport Blvd

$8.0M Joint Venture Equity

280,000 SF, 15-story office building on a ground lease located along the LAX/Century Blvd corridor

9841 Airport Blvd., Los Angeles, CA 90045

HRC arranged a $8.0M of joint venture equity for the acquisition of 9841 Airport Blvd. The business plan calls for investing $8.0M in capital improvements to the exterior and common areas and an additional $6.0M in ...

Flamingo

$15.15M Construction Loan

8.6 acre retail development site

Las Vegas, NV

HRC arranged an 80% LTC, non-recourse, $15,150,000 construction loan for a retail development site in Las Vegas. The financing was provided by a private lender at a rate in the 900 bps range over Libor. HRC executed on the high leverage demanded by the borrower and was able to get the lender comfortable with the ...

Tempe Westin

$4.8M Land Loan

36,900 SF hotel development site

Tempe, AZ

HRC arranged an 18-month, $4,800,000 land loan for a hotel development site in Tempe. The financing was provided by a private lender at a rate in the low double digits. The current business plan contemplates the development of a 290-room hotel adjacent to Arizona State University.

Bonnie Arms & Celeste Apartments

$3.49M & $3.41M Perm Loans

Two apartment buildings totaling 27 units

Seattle, WA

Financing:

HRC arranged $6.9M of permanent financing with a local credit union at a rate in the mid 3% range. The loans were structured as 3 year terms with 30 years of amortization. The borrower demanded max loan proceeds at a low rate to free up equity for an apartment ...

Walnut Apartments

$5.45M Permanent Loan;

A 48-unit apartment building

24938 Walnut St., Santa Clarita, CA

HRC arranged a $5.45M permanent loan for a long-term client to refinance a maturing note. The property was 100% occupied. The borrower received some cash out from the refinance proceeds.

Walgreens

$3.0M Permanent Loan

Walgreens

East Wenatchee, WA

HRC arranged a $3.0M perm loan to refinance a maturing note on a single tenant retail center occupied by Walgreens. The bank loan was priced in the mid 4% range with a 7 initial term and possible 3 year extension.

333 Fremont

An 83-unit apartment development

San Francisco, CA

More information about the construction financing arranged for this project available upon request.

Residence Inn

$8.50M Bridge Loan

A 96-room Residence Inn flagged hotel.

Livermore, CA

The client engaged Highland Realty Capital to arrange an $8.5mm 3-year bridge loan to refinance a 96-room Residence Inn in Livermore, CA. Our client wanted prepay flexibility as it anticipates receiving final approvals to develop a new two tower, 221-room Hyatt House and Hyatt Place. The bridge loan proceeds were

Oakland Green Zone Cannabis Facility

$6.08M Bridge Loan

A three-building, 105,000 sf, industrial property in Oakland's "Green Zone."

Oakland, CA

Financing:

HRC's assignment was to finance the repositioning of a traditional industrial property into a cannabis grow facility. The Sponsor acquired the property in an all-cash transaction and subsequently completed $1 million of cap ex ...

Huntington Apartments - 54 Units

$6,265,000 acquisition bridge loan

Sacramento, CA

Highland arranged a $6,265,000 acquisition bridge loan sized to 80% LTC with initial funding sized to 75% loan-to-purchase price, with the lender funding 100% of the $1,000,000 renovation budget in monthly draws. The 5 year, full-term IO loan will be fixed in the mid 4%'s and will be open to pre-pay after year two and featured a ...

Skypark Plaza

$24.5M Perm Loan

A 192,000 sf, Raley's grocery anchored retail center

Chico, CA

Challenges: HRC's assignment was to refinance a 2007 vintage CMBS loan. The sponsor wanted to maximize cash flow with as many years of interest only financing as possible. Raley's and Ross, the two anchor tenants', leases expire less than four years from the new loan's origination date. The year four rollover ...

Vintage Faire Apartments

$7.5M Bridge Loan

A 112-unit Garden Apartment Community

11070 Hirschfeld Way Rancho Cordova, CA

Highland has arranged a $7,500,000 bridge loan, representing 80% of total cost.

East Gateway Center

$34.5M Bridge Loan & $6.2M Mezzanine Loan

A two-building, 231,000 sf, class A office project in Phoenix's 44th Street Corridor submarket.

Phoenix, AZ

HRC's assignment was to refinance a 2006 vintage CMBS loan, and provide additional funds for imminent lease rollover. The largest tenant is giving back half of its space early next year which will drop the occupancy to 79%. ...

$14.5M Construction Loan;

Property:

A to-be-built 7-story, 42-unit, 167-bed student housing project in the West Campus area of the University of Texas.

Location:

Austin, TX

Financing:

HRC arranged a 90% LTC, $14,500,000 construction loan for University of Texas student housing. The project, located at 2502 Nueces, two blocks from campus, is being developed by Austin based Lincoln Ventures. This will ...

Property:

A 450,000-sf office building occupied primarily by government tenants.

Location:

Norwalk, CA

Financing:

$50.35 million non-recourse bridge loan comprised of a $38.63 million, floating rate senior piece, and an $11.72 million B piece. The yield on the B piece was capped. The financing structure provided 100% of TI and leasing commission dollars, allowing the borrower to complete the lease up of the ...

Yamashiro

$21.5M Retail Acquisition Bridge Loan

7-acre parcel with unobstructed, panoramic views of Los Angeles from Downtown to the Westside. The property contains 48 multifamily units and a historic 20,000 sf restaurant.

1999 N. Sycamore Ave, Hollywood, CA 90068

The property is directly behind (up the hill from) the Magic Castle in Hollywood.

Financing:

HRC arranged a $21.5M ...

$10.5M Retail Acquisition Bridge Loan;

Property:

A 15,000 sf strip retail property on 11.1 acres.

Location:

I-95 & Durango Blvd, Las Vegas, NV

Financing:

A $10,500,000 bridge loan for the REO acquisition that closed in 3 weeks. The initial funding was 65% of the purchase price.

$10.35M Industrial Bridge Loan;

Property:

Two industrial buildings totaling ~37,000 sf on 73,000 sf of land

Location:

2145-61 Sacramento & 2159 Bay Street, Arts District, DTLA-Los Angeles, CA

Financing:

HRC secured a $10,350,000 bridge loan for the repositioning and renovation of two industrial buildings totaling 37,000 sf in the Arts District in DTLA. Ownership had secured a lease with Hyperloop to occupy

Property:

15 SFR developments located from Santa Maria to San Luis Obispo ranging in size from 12 to 300 single family residences.

Location:

Santa Maria, Pismo Beach, San Luis Obispo, CA

Financing:

HRC arranged a Joint Venture Equity program with a Private Equity fund to provide equity for the acquisition and development single family residences located along the central California coast. Over an 18 month ...

$24M Multi Family Acquisition Perm Loan;

Property

A 150-unit Garden Apartment Community

Location

7435 159th Place NE Redmond, WA

Financing

A 30-year fixed rate permanent loan totaling $24,000,000 to secure a purchase price of ...

$12.3M Creative Office Perm Loan;

Property:

44,000 sf creative office building

Location:

900 N. Cahuenga Blvd. in Hollywood, CA, in the Hollywood Media District

Financing:

HRC arranged both the $12,300,000 bridge loan to finance the conversion of flex industrial property (that had been rented to Time Warner Cable for 10 years) to high-demand creative office space, and the $12,300,000 takeout perm loan one year ...

$13M Multi Family Refi Perm Loan;

Property

A 108-unit Garden Apartment Community

Location

2501 148th Avenue SE Bellevue, WA

Financing

A 30-year forward permanent commitment totaling $13,000,000

Gresham Station Shopping Center and Gresham Station North located in Gresham, OR; City Center West located in Las Vegas, NV; and 8801 Horizon ...

Property:

An existing 151-room hotel, situated on 6 acres will be entitled for a 300+ unit condominium hotel with 30,000 sq. ft. of ground floor retail.

Location:

Mammoth Lakes, CA

Financing:

$16.5 million non-recourse bridge loan

Property:

A new 77-room craftsman-style hotel with an Asian flair uses the ancient Chinese discipline of Feng Shui to tap nature for a boost of metaphysical energy

Location:

Santa Monica, California

Financing:

$7.0 million construction loan (75% LTC). The client owns 33 hotels nationwide with a focus in limited service brands.

Property:

A 240,000 SF historic office building built in 1904; includes ground floor retail and the luxurious Julia Morgan Ballroom event facility

Location:

San Francisco, CA

Financing:

A $37.5 MM, 20-year, fixed-rate permanent loan, including 8 years of interest only, then amortized over 30 years. The 60% LTV loan allowed the payoff of a higher-rate loan, the consolidation of various debt, funds for tenant ...

Property

A multi-tenant, 11,620 sf creative office building located in the Arts District area of Los Angeles.

Location

1801 E. 7th Street Downtown Los Angeles (Arts District), CA

Financing

A 5-year fixed rate refinance totaling $1,675,000 provided by a local bank.

Property:

Two apartment complexes totaling 792 units - both properties feature amenities such as pools, fitness centers, playgrounds, laundry rooms, and balconies or patios for most units. The two properties were a combined 20% vacant at closing, and in-place tenants were paying well below market rents. The previous owner had attempted to convert the properties to low income housing; as a result each property's title included rent ...

Property:

The $22,000,000 acquisition of a 92,770 sf office/retail property located on a city block in Berkeley, CA. The business plan is to entitle and redevelop the property into a 300+ unit, 180 foot high-rise multi-family project while retaining the street front retail comprising approx 40,000 sf. The property is located across the street from The Bart and is in close proximity to UC Berkeley.

Location:

Shattock Ave ...

CSAA Portfolio

Location:

Waikiki Beach, Honolulu, HI

Financing:

$10.0 million, non-recourse acquisition & development (A&D) loan. Lender also funded 50% of the predevelopment and entitlements.

Property

A 12-building, 98,000-sf, "For Sale" office park

Location

San Bernardino, CA

Financing

$10.0 million, non-recourse construction loan (80% LTC). No presales required to release funds.