CBRE has arranged two loans worth $66 million to refinance two separate industrial portfolios in the Charlotte, North Carolina, metropolitan area. 

Brian Linnihan led CBRE Capital Markets’ Debt & Structured Finance in Atlanta, which represented CIP Real Estate in both deals. A $35 million loan was secured through HIMCO, while a $31 million loan was secured through a national bank. 

The larger of the two loans was secured for the refinancing of International Corporate Center, a six-building industrial project located in Concord, North Carolina and the construction of two industrial buildings totaling 147,467 square feet. Located near the intersection of International and Corporate drives, International Corporate Center totals 200,831 square feet (not including new development), is home to 12 tenants, and was 92% leased at the time of the loan funding. 

The $31 million loan was secured for the acquisition of a seven-building, 334,989-square-foot industrial portfolio also in the Charlotte metropolitan area. Three different industrial developments comprised the portfolio, which was 99% leased to 12 tenants.

Walker & Dunlop, Inc. has originated $65,731,000 in 232/223(f) and 241(a) HUD loans for seven skilled nursing facilities and memory care centers across Illinois and Wisconsin between October 2023 and February 2024.

Walker & Dunlop’s Midwest FHA Finance team, led by Joshua Rosen, Brad Annis, and Johnny Rice, arranged the construction loan and refinancings on behalf of five clients, utilizing the U.S. Department of Housing and Urban Development as the lender.

“We’re pleased to announce the closure of loans on seven properties totaling 376 units, reflecting our brokers’ dedication and proficiency in complex real estate transactions,” said Joshua Rosen, senior managing director of FHA Finance at Walker & Dunlop. “These closings underscore our unwavering commitment to excellence and drive in healthcare real estate, delivering value and expertise to clients and facilitating significant investments.”

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa. 

Join the leaders and dealmakers when they explore the most important topics and trends at Connect Midwest: Multifamily, Affordable, Student & Student Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register to attend to network with the best in the industry and sit in on discussions you won’t hear anywhere else. Early Bird Registration Ends April 19. 

Cedar Grove Capital has acquired Hawthorne Six Forks, a 471-unit apartment community in Raleigh for $66 million. The seller was not disclosed.

Henry Stimler, Bill Weber and Nick Webb of NKF secured a $46 million acquisition loan on behalf of Cedar Grove through lender Freddie Mac. Terms included a 10-year, fixed-rate. In addition, NKF paired the buyer with Related Fund Management as the preferred equity partner who provided an $11 million preferred equity piece for investment.

“This acquisition demonstrates the continued desire of investors looking to buy in the multifamily sector located in growing areas outside traditional primary investment markets,” said Stimler. “This sale also showcases our group’s ability to navigate the different layers of financial sourcing by helping our clients arrange the debt and secure preferred equity.”

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