$180.5 Million CMBS Loan Funded
by Jonathan Brumleve - Executive VP of Investments & Finance
WMG Development leads innovative mortgage-backed loan package with 169 Heartland Dental-occupied properties across 24 states. The $180.5 million CMBS with Capstone has just been funded.
EFFINGHAM, ILL. — CBRE | Capstone has arranged a $180.5 million CMBS loan for the refinancing of a 169-property portfolio occupied by Heartland Dental across 24 states. Shawn Givens, Chase Gambill and Ken Higgins of CBRE | Capstone arranged the fixed-rate loan on behalf of the borrowers, Professional Resource Development Inc. and WMG Development LLC. Jonathan Brumleve and Curt Frost of Professional Resource Development led the transaction on behalf of the borrowers. UBS provided the 10-year loan, which features a 30-year amortization schedule and a 57 percent loan-to-value ratio. Effingham, Ill.-based Heartland Dental provides comprehensive administrative support services for marketing, accounting and other aspects of a dentist’s business.
Learn more: CBRE Financing Alert
About CBRE | Capstone
Capstone Financial is a full-service commercial real estate finance company specializing in retail, multi-family, office, self-storage, hospitality, owner-occupied, industrial, manufactured home community, ground-up development, and mixed use properties nationwide. We specialize in non-institutional debt space globally. We also offer commercial bank consulting and debt relocation, asset based lending, bridge and hard money loans. We consistently work with the top real estate investment services companies in the country and this expertise allows us to deliver an exceptional loan product and experience to our clients that is second to none. We pride ourselves in closing our transactions faster than many commercial loans where we are not involved.