Dealmaker: Cohen Financial Secures $62M

Cohen Financial, Chicago, secured $62 million for a Tennessee industrial portfolio and two California assets. 

Cohen Managing Director Dan Rosenberg and Vice President Matt Terpstra closed a $19 million acquisition loan for a two industrial park portfolio in Goodlettsville, Tenn.

The properties, Space Park North and Old Stone Bridge, stand one mile apart on I-65. They total 980,000 square feet across 13 warehouse/distribution facilities. Rosenberg said both properties have strong occupancy histories and current tenants include more than 50 industrial firms that service northern Nashville.  

Rosenberg and Terpstra secured a fixed-rate 10-year commercial mortgage-backed securities loan from Morgan Stanley, New York, for the borrower, a Kaufman Jacobs affiliate. 

Kaufman Jacobs President and CIO Robert Saunders said the portfolio provides a range of space options and an ability to grow organically within the park. 

In California, Cohen Financial’s San Francisco office worked with Q10 Westcap, Irvine, Calif., to secure $26 million to refinance Woodlark Residences in Marin County. Borrower California Landmark Group received a seven-year fixed-rate loan with five years of interest-only payments and flexible prepayment terms. 

Q10 Westcap Vice President of Production Stephan Coste and Cohen Financial Managing Director Kenneth Fox placed the loan with Sun Life Financial, Toronto.

Fox also secured $8.5 million from Sun Life Financial to refinance Golden Hills Professional Center, a three-building multi-tenant office property in San Jose. He said the property represents an established and fully-leased office development that caters to small tenant users.

Fox said the San Francisco-based commercial real estate investor group closed on the 10-year fixed-rate loan on July 28.