Real Estate Journal — Owners, Developers & Managers — September 30 - October 13, 2016 — 3B
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M id A tlantic
O wners , D evelopers & M anagers Managing director, Ackerman and senior vice president, Sonnenschein negotiate transaction Meridian arranges $39m in acquisition financing for the purchase of a NJ multifamily property
ackson, NJ — Merid- ian Capital Group , one of America’s most active debt broker, arranged $39 million in acquisition financ- ing for the purchase of the Prospect Pointe multifamily J CBRE Capital Markets arranges sale & financing of 76-unit community
property located in Jackson. The seven-year loan, provid- ed by a balance sheet lender, features a competitive fixed rate of 3.50%. This transaction was negotiated by Meridian managing director, Shaya Ackerman and senior vice president, Shaya Sonnen- schein , who are both based in the Company’s NYC head- quarters. Prospect Pointe is a 372-unit multifamily property, located at 330 South New Prospect Rd. in Jackson and is comprised of one-bedroom and two-bedroom apartments. The apartment
complex is situated on 24 acres in a high-density section of Jackson. Prospect Pointe is also in close proximity to Garden State Pkwy., I-195 and U.S. Rte. 9. Amenities include a clubhouse, baseball field, swimming pool, tennis courts, fitness center and a dog park. “Prospect Pointe is in an excellent location with high potential and historically low vacancies,” said Ackerman. “This well-maintained garden- style rental community is popular for its easily accessible location and the lifestyle ame- nities it offers,” he added. n
Prospect Pointe Multifamily Property
The Solana Horsham
North Wales, PA — CBRE Capital Markets’ Na- tional Senior Housing team has arranged the sale and acquisition financing of The Solana Horsham, a 76-unit as- sisted living and memory care community in North Wales, Pennsylvania, for $31.5 mil- lion or $414,474 per unit. Lisa Widmier and Mat- thew Whitlock of CBRE’s San Diego office represented the seller, a joint venture between Capitol Seniors Hous- ing and Formation-Shelbourne Partners. CBRE originated a five-year, non-recourse floating rate loan with three years of interest- only from a regional bank for an undisclosed amount. Aron Will of CBRE’s Houston office secured the loan on behalf of the borrower. Located at 1419 Horsham Road, The Solana Horsham is a newly constructed facil- ity developed by the seller in 2013. The occupancy at the time of the offering was ap- proximately 89 percent and at the time of closing was 95 percent. CBRE’s National Senior Housing team consists of 16 professionals with more than half a century of combined senior housing experience. CBRE’s 2015 senior housing transaction volume of $2.8 billion (combined debt and sales) represented 20 percent of the estimated volume for the entire senior housing inter- mediary industry during the year. With over $3.6 billion in combined year-to-date trans- action volume, 2016 deal flow has already exceeded 2015. n
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