Black Bear Capital Partners has arranged $52.1 million in permanent financing on behalf of various owners for the refinance of 12 student housing, retail and multifamily properties throughout the Midwest.
These new transactions, arranged through BBCP’s NYC, Chicago and NJ offices include:
• $19.8 million, 10-year loan featuring a fixed interest rate of 3.40 percent to refinance a seven-property student housing portfolio (175 total units, 285 total beds) in Champaign, Illinois. Matt Stearns and Raymond Zanca of BBCP arranged the financing on behalf of ownership. First Merchants Bank was the lender.
• $12.6 million, 10-year loan featuring an initial floating interest rate of 3.06 percent to refinance a multi-family property (105 total residential units) at 5233, 5255 and 5277 W. 82nd St. in Bloomington, Minnesota. Brandon Harris of BBCP arranged the financing on behalf of Maven Real Estate Partners. Freddie Mac provided the loan through PGIM Real Estate’s agency lending program.
• $6 million, three 10-year loans featuring fixed interest rates in the low- to mid-3-percent range and three years of interest-only payments to refinance three multifamily properties (149 total residential units) in Omaha, Nebraska. Emil DePasquale of BBCP arranged the financing on behalf of Round Hill Pacific. Fannie Mae provided the loan through Arbor Realty Trust’s agency lending program.
• $5.6 million, seven-year loan featuring a fixed interest rate of 3.375 percent to refinance a 29,410-square-foot medical office/retail center (12 total units) at 3224-3242 Route 206 in Mansfield, New Jersey. Emil DePasquale of BBCP arranged the financing on behalf of the borrower. Lakeland Bank was the lender.
• $5 million, 10-year loan featuring a fixed interest rate of 4.029 percent to acquire four, single-tenant retail assets in Pennsylvania, Mississippi, Ohio and Kentucky. The properties, which span nearly 11,500 square feet, feature new, 20-year triple-net leases to Popeyes and Burger King. A BBCP team led by Bryan Manz, Brandon Harris and Phil Bowman arranged the financing on behalf of The Morgan Group. Sabal Capital Partners, LLC was the lender.
• $3.1 million, 10-year loan featuring a fixed interest rate of 4 percent and 10 years of interest-only payments to refinance a multi-family property (30 total residential units) located 3032 Linden St. in Bethlehem, Pennsylvania. Bryan Manz and Brandon Harris of BBCP arranged the financing on behalf of Laub Realty. Bank Leumi USA was the lender.