Real Estate Journal — Financial Digest — January 13 - 26, 2017 — 7A


M id A tlantic

F inancial D igest Blue Course Commons – State College, Pennsylvania

Colliers Int’l.’s Capital Markets Team team led by Banas & Wood complete $12MM in financing


mile of campus, Blue Course Commons is also adjacent to an 87-acre park and within walking distance to many local shops and restaurants, as well as a major grocery store. The team secured the financ- ing for a 3-year, fixed rate loan with a 2-year interest-only period. “This was an existing client venturing into a new market,” said Banas. “It repre- sented a unique opportunity to acquire an extremely well po- sitioned asset with significant value-add in one of the stron- gest student housing markets in the nation,” added Wood. n

ollege, PA — The Colliers Philadel- phia Capital Mar-

ke t s t eam led by John Banas and Kris Wood a r r a n g e d $12 million in financing for the ac- quisition and completion of Blue Course C o m m o n s into a 276- bed student housing com- plex in State College. Located on a bus route within one

John Banas

Blue Course Commons

Kris Wood

Ten-X closes $10.5 million infinancing through Deutsche Bank

Pittsburgh, PA — Ten-X announced the clos- ing of Comfort Inn & Suites Pittsburgh, which sold on the Ten-X Commercial online platform for $14.1 million. Ten-X Finance arranged $10.5 million in financing through Deutsche Bank for the buyer, an individual investor. Para- mount Lodging Advisors was engaged as broker on be- half of the seller and partnered with the Ten-X Commercial platform to secure more than 140 confidentiality agreements from qualified investors and successfully transact the asset. Along with Ten-X Commer- cial helping to generate a pool of qualified applicants and source the eventual buyer, the Ten-X Finance platform was utilized to fund the acquisi- tion, consisting of a 10-year termfirst mortgage with a 65% loan-to-cost. Shannon Stotts of Ten-X Finance sourced the debt from Deutsche Bank. Lo- cated at 180 Gamma Dr., Com- fort Inn & Suites Pittsburgh is a 223-key, full-service hotel 10 miles north of Downtown Pittsburgh in the RIDC Indus- trial Park. It is the only hotel permitted within the park. n Comfort Inn & Suites Pittsburgh

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