DEAL SUMMARIES

25th & Lamar

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

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

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 TownePlace Suites

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

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

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

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

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

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

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 BART Parking Garage

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

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

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

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 CA

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 Land Loan

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

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

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

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

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

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

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 ...

The UNION

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 ...

Williams Business Park

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

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

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

InterContinental The Clement Hotel

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

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

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

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 ...

5800 Uplander

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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%. ...
The Ruckus
$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 ...
Imperial Norwalk Center

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

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 ...
Caroline Court
$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.    
Baypoint Wyndham Hotel

Property:

A 319-room resort located on 300+ acres including two-18 hole golf courses.

Location:

Panama City, Florida

Financing:

A bridge loan in the amount of $19,000,000 for the REO acquisition of the asset. The loan is comprised of an $11,000,000 initial funding and an $8,000,000 credit facility to complete a PIP to convert the hotel to a Hilton Doubletree Hotel from a Wyndham Hotel. The loan closed in less ...
Denver Highlands
$38.5M Bridge Loan & $10M JV Equity for Office Acquisition and Repositioning;

Property:

Two contiguous office buildings totaling 365,000.

Location:

The southeast submarket of Denver, CO, on the boarder with Aurora, CO.

Financing:

HRC arranged a $38.5M bridge loan and a $10M JV equity investment for the acquisition and repositioning of two contiguous office buildings located in the southeast submarket of ...
The Harvest Inn
$4.5M  JV Equity and $42.5M Bridge Loan for Hotel Aquisition;  

Property:

74 room boutique hotel

Location:

1 Main St, St Helena, CA, in the Napa Valley

Financing:

HRC arranged both the $4,500,000 joint venture equity and the $42,500,000 non-recourse bridge loan for the hotel acquisition and construction of a new restaurant and additional rooms. The JV equity came from patient overseas investors.
Carrillo Plaza
$7.9M Retail Acquisition Permanent Loan;  

Property:

An 18,765 sf retail plaza  

Location:

210 W. Carrillo Blvd, Santa Barbara, CA  

Financing:

HRC arranged a $7,940,000 permanent CMBS loan for the acquisition of an 18,000 sf retail plaza. Challenges included past environmental issues, new tenants taking possession after loan closing, and a high acquisition price per square foot. ...
The Peloton
$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 ...
900 N. Cahuenga
$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 ...
The Carrington Apartments
$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
Hawthorne Condominiums

Property:

182 for rent condominiums within a 276-unit complex

Location:

Phoenix, AZ

Financing:

The financing consisted of a $4,250,000 joint venture equity investment representing 85% of the required equity.
Two Southern CA Retail Centers

Property:

A 34,000 net rentable sq. ft. single-tenant retail building fronting along one of West Los Angeles' main thoroughfares. The other property, part of a power center in Oceanside, consists of two tenants in a total of 44,000 net rentable sq. ft.

Location:

West Los Angeles and Oceanside, CA

Financing:

HRC has arranged a combined $18.4 million in non-recourse, long-term, fixed-rate financing to refinance ...
The Peloton Condos

Property:

A 390-unit, luxury condominium development with 17,000 sf of commercial space. Located on 10 acres, the project will offer lofts, 1, 2 and 3 bedroom units in four contemporary residential buildings constructed over subterranean parking.

Location:

Boulder, CO

Financing:

$150 million in non-recourse construction financing and joint venture equity, arranged through a single institutional capital source.
Hyperloop Campus
$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
Homebuilder JV Equity

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 ...
Northern California Apartment Portfolio

Property:

922 class-B apartment units in 8 separate complexes

Location:

3 properties were located in the San Francisco Bay Area, and 5 were located in the Sacramento Region

Financing:

A $50 MM Freddie Mac credit facility, with the bottom $40 MM fixed at an attractive rate and the top $10 million available as a credit line under a sub 165 spread variable rate structure. The unique structure accomplished three ...
Serramonte Center

Property

An 865,000 square foot regional mall, built in 1968, and anchored by Macy's, Target, and Mervyn's.

Location

Daly City, CA

Financing

A $95 MM, 7-year, fixed-rate forward commitment that funded when the existing higher-rate loans prepayment penalty burned off. The rate was fixed below 5%, and allowed a substantial amount of the Borrowers equity to be returned. The loan also allowed additional first ...
Premier at City Place

Property:

221-unit luxury apartment project constructed above over 76,000 square feet of street level retail.

Location:

Downtown Long Beach, CA

Financing:

$25.5 million construction loan coupled with $2.35 million in mezzanine debt comprising 95% of total project costs. The mezzanine debt was competitively priced at LIBOR + 7% with no profit participation. This high leverage financing structure allowed the ...
Waikoloa Village

Property:

45.1 acres of commercial zoned land. Proposed uses include 200,000 sq ft of retail, a 150-key hotel, 346 residential units, and 40,000 sq ft of self-storage. All proposed uses are allowed under the property's current zoning.

Location:

Kohala Gold Coast area of the Big Island of Hawaii

Financing:

HRC arranged $18 million (80% loan-to-cost) in fixed-rate acquisition and predevelopment financing. The ...
Terraces at Madrona

Property:

An 84-unit apartment project located just three blocks north of the Sherman Oaks Galleria

Location:

Sherman Oaks, CA

Financing:

A 95% LTC participating loan in the amount of $12,991,000. The property was acquired for $11.8 million and borrower plans an $850,000 interior and exterior rehab. At closing, the units were 20% below market. The sponsor plans to increase rents by an additional 12% to 14% post-rehab.
North San Jose Technology Park

Property:

142,700 sq.ft office and R&D complex

Location:

San Jose, CA

Financing:

$21.2MM redevelopment capital including a $16.7MM non-recourse bridge loan and $4.5MM of joint venture equity. Despite a high overall R&D vacancy level in the market at the time, the deal positioned the sponsor to take advantage of a rising market substantial cash flow being generated by the high quality, highly visible assets
Tops Plaza

Property:

A 156,000 sq ft grocery-anchored shopping center located along a major thoroughfare in Edison, NJ.   At acquisition, the property was approximately 33% occupied, but the Borrower also had an executed anchor tenant lease with H-Mart for an additional 56,000 sq ft. The Borrower planned to re-brand the shopping center with a predominantly Asian theme and improve both the tenant mix and tenant ...
The Moore Building

Property:

79-unit luxury apartment project over 7,800 square feet of ground floor commercial space. The Moore Building will have the highest level of finishes in Sonoma County.

Location:

Santa Rosa, CA

Financing:

$15.3 million construction loan arranged through a local bank
Northern CA Multifamily Portfolio

Property:

600 unit, four-property multifamily portfolio located in Northern CA.

Location:

Antelope, Rocklin, Sunnyvale, and Orangevale, CA

Financing:

HRC arranged $39 million in fixed-rate agency debt to refinance an existing credit facility encumbering all four assets. Structured as four new loans, the new financing allowed an existing low-cost credit line to remain in-place for the Borrower's future use. The ...
Chateau Marina and Fiji Villas Apartments

Property

Two luxury apartment projects totaling approximately 500 units

Location

Marina del Rey, CA

Financing

$152,500,000 sale of the project to an apartment REIT
Wilson Sonsini Building

Property:

71,400 sq.ft Class A office building

Location:

Palo Alto, CA

Financing:

$18.0MM permanent loan secured by a leasehold interest in the headquarters office building of the headquarters of Wilson Sonsini Goodrich and Rosati, Silicon Valley's dominant law firm. This high-leverage permanent financing enabled the sponsor to acquire the subject with minimal cash equity investment and took advantage of an ...
Westlake Office/Retail Portfolio

Property:

A 4-property portfolio, consisting of Gresham Station Shopping Center, a 300,000 square foot big box retail center anchored by Best Buy, Borders, Old Navy, Bed Bath & Beyond, and Cost Plus World Markets; Gresham Station North, a 145,000 square feet newly-

Location:

Gresham Station Shopping Center and Gresham Station North located in Gresham, OR; City Center West located in Las Vegas, NV; and 8801 Horizon ...
The Clearwater Condo-Hotel

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
Ambrose Hotel

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.
Merchant Exchange Building

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 ...
1801 E. 7th Street

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.
Park Ridge and North Glen

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 ...
Berkeley Plaza

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

CSAA Portfolio

$50 million of joint-venture equity and $132 million of bridge debt financing

A four-building, 597,000 square foot office portfolio / California State Automobile Association

San Francisco, CA

HRC arranged $50 million of joint-venture equity and $132 million of bridge debt financing for the acquisition and $45 million renovation and repositioning of the four-building office portfolio. ...
Crescent Hotel

Property:

An 83-room hotel located in the Union Square area of San Francisco. The property was acquired by a partnership comprised of the Charlie Palmer Group. The business plan is to build-out a Charlie Palmer restaurant and brand the property as a boutique hotel under the name of The Mystic Hotel by Charlie Palmer.

Location:

417 Stockton Street San Francisco, CA

Financing:

A $15,400,000 financing equaled ...
Gardena Valley Shopping Center

Property:

A 130,000-sf neighborhood shopping center anchored by Vons and Rite Aid.

Location:

Gardena, CA

Financing:

$18 million construction loan representing 90% of total project costs, plus a $20 million 24-month forward commitment for permanent financing. The financing was arranged through a pension fund that provided flexibility on structuring issues (e.g. no yield maintenance in the event the borrower did
Thatcher Medical Office Building

Property

The $21,500,000 acquisition of a two building, 73,564 sf medical office building located in the heart of Pasadena. The property was 80% occupied at the time of acquisition.

Location

960 E. Green Street, Pasadena, CA

Financing

An $8,500,000 joint venture equity investment made by an institutional investment management firm. The investment represented 90% of the required equity.
5353 W. Bell Road

Property:

A vacated 203,175-sf office building formerly owned/occupied by Honeywell to be subdivided and retenanted.

Location:

Glendale, AZ

Financing:

$13.1 million, non-recourse bridge loan equaling 80% LTC and a $4.74 million equity investment representing 90% of the required equity.
Devon & Wilshire

Property:

The $8,000,000 acquisition of a 14,370 sf land parcel located at the northeast corner of Devon Ave. and Wilshire Blvd., one block east of Beverly Glen on the Westwood Corridor. The business plan is to re-entitle the property from a 19-unit residential project into a 31-unit project.

Location:

NEC of Devon Ave and Wilshire Blvd, West Los Angeles, CA

Financing:

The financing consisted of a $4,000,000 ...
The Estates at Point Happy

Property:

69-lot residential subdivision

Location:

La Quinta, CA

Financing:

$8.6 million for acquisition and horizontal development, and $27.4 million for the construction of luxury homes ranging in size from 2,800 to 3,550-sf. Sales prices range from $600,000 to $1,200,000.
Belamar and Casa Linda

Property:

A 67-unit, gated-entry, multifamily complex with a pool, numerous waterscapes, laundry facilities, and semi-subterranean parking. The other property is a 74-unit multifamily complex featuring amenities such as a pool, game room, and balconies.

Location:

Near Downtown Los Angeles and Sherman Oaks, CA

Financing:

HRC has arranged a $15.4 million non-recourse acquisition/bridge loan, fixed for five years, ...
Terraces at the Grove, Toscana, and Summit

Property:

Three multifamily properties with 192 total units. The properties were in various stages of renovation and re-leasing as the developer sought to reduce the properties' loss-to-lease.

Location:

Southern CA

Financing:

HRC has arranged $28.5 million in non-recourse fixed-rate bridge financing to recapitalize three multifamily properties in Southern CA. All three properties were previously financed with ...
Hitachi Plaza

Property:

220,000 sq.ft Class A office tower

Location:

Brisbane, CA

Financing:

$38.5MM permanent loan including $7.0MM earn out feature to refinance a highly visible office tower near the San Francisco International Airport and the U.S. headquarters of Hitachi Corporation. The refinance returned a substantial portion of the sponsor?s invested and earned equity
Alder Creek

Property:

148-unit, gated-entry, multifamily complex with a pool, two laundry facilities, and outdoor recreation area. The property mix consists of one and two bedroom units.

Location:

Riverside, CA

Financing:

HRC has arranged a $14.5 million in non-recourse acquisition/bridge financing, representing 80% of total cost. The interest rate on the initial funding was fixed at a spread over the 5-year treasury. ...
The Atrium at Empire Lakes

Property

A 431,000-sf former General Dynamics building being renovated into "Class A" office space.

Location

Rancho Cucamonga, CA

Financing

$37.3 million, non-recourse bridge loan (83% LTC). The loan included approximately $10 million of construction proceeds to complete the Phase 2 renovation.
The Redstones

Property:

At closing, the property was a 9-acre site improved with 156,000 sq ft of class-B office (only 29% occupied). The Borrower plans to process entitlements for residential town homes.

Location:

Boulder, CO

Financing:

HRC arranged $11.4 million (75% loan-to-cost) in non-recourse interim financing to process residential entitlements. In the event that the Borrower does not obtain entitlements, the loan ...
Dogtown Station

Property:

A 35-unit condominium loft development

Location:

Venice, CA

Financing:

$22.5 million, non-recourse construction loan (80% LTC). The units average 1,785 sf ranging in size from 1,180 sf to 2,330 sf, and sales prices ranging from $750,000 to $1,350,000.
Homewood Suites La Quinta Hotel at Centre Point

Property:

130-room Homewood Suites by Hilton, an extended stay hotel. Planned as part of a larger, mixed-use development to include restaurants, medical center, boutique hotel and spa, and condominiums to be rented as vacation units

Location:

La Quinta, CA

Financing:

$13.6 million construction loan, representing 70% of total project costs.
Trump Tower at Beachwalk

Property:

A 476-unit luxury condominium-hotel development

Location:

Waikiki Beach, Honolulu, HI

Financing:

$38.35 million, non-recourse acquisition and development land loan comprising 80% of total A&D costs.
Watermark Waikiki

Property:

A 212-unit condominium development

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.
The Summit at Tri-City

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.
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