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The Carlyle Grp. and CapitalSource provide financing for $100m proj. Sarasota, FL According to Hyatt Vacation Ownership, Inc., construction has begun on Hyatt Siesta Key Beach, a fractional ownership resort comprising 44 residences located on 300 ft. of beach frontage at Siesta Key. The $100 million development is fully capitalized, with equity provided by private equity firm The Carlyle Group and construction financing provided by CapitalSource, a commercial lender based in Maryland. Occupancy is slated for summer 2009.
Tandem Construction is the project contractor and ...

Corus Bank closes $60m loan for construction of 14-story condo building Corus Bank, closed a $60 million loan to a joint venture between The Cohen Companies and O'Connor Capital Partners, LLC to finance the construction of Velocity, a 14-story condo building located at 1025 First St. SE. The project will consist of 200 residential units and 1,428 s/f of ground-floor retail space. This will be the first development Corus Bank has worked on with Ronald and Alan Cohen.

GE provides $55m for refinancing of 156,552 s/f retail community center GE Real Estate has provided a $55 million loan to Sudberry Properties to refinance its existing debt on Village Walk at EastLake, a retail community center. Sudberry constructed the open-air community center in 2006/2007 and has leased it to 92% occupancy. It has 156,552 s/f of rentable space and is anchored by Henry's Marketplace, Borders Bookstore, Petco, Pier 1 Imports and Trader Joes.

Hagwood of Capmark originates $16m loan Durham, NC Capmark Finance Inc. originated $16 million in 5.96%, fixed-rate, permanent financing for the refinance of Oak Creek Village Apartments, a multifamily property. The 70% LTV loan has a nine-year term with interest-only payments for the duration of the loan. Oak Creek Village Apartments is located on 41 acres at 4230 Garrett Rd. The property comprises 25, two-story buildings, totaling 501 units.
Senior VP and manager Chad Thomas Hagwood of the Capmark Birmingham, Ala., office originated the ...

PNC ARCS secures $22.523 million loan Glendale, CA PNC ARCS, a PNC Real Estate Finance company, arranged $22.523 million in financing for the Hampton Place Apartments, a 132-unit property.
The loan was for a 10-year term/30-year amortization at a rate of 6.12%. The loan was originated by PNC ARCS' Calabasas Hills office through Fannie Mae.

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