SAN FRANCISCO — ICONIQ Capital and Sentral have secured $525 million for the refinancing of a portfolio of six properties totaling 1,790 units. Deutsche Bank and Goldman Sachs provided the single-asset, single-borrower CMBS loan. Jonathan Firestone and Bill Fishel of Newmark Group Inc. arranged the financing. Gibson Dunn and Latham & Watkins also advised on the transaction.
Sentral operates each community in the portfolio. Approximately 25 percent of the units are leased under a flexible living strategy, in which units are fully furnished and made available for short- or mid-length stays. The financing terms allow for flexible management and various lengths of stay to optimize property performance.
The six-building portfolio includes:
- Sentral Union Station in Denver
- Sentral Michigan Avenue in Chicago
- Sentral SoBro in Nashville, Tennessee
- Sentral Wynwood in Miami
- Sentral East Austin 1614
- Sentral East Austin 1630
ICONIQ Capital is an investment management firm headquartered in San Francisco. Sentral is a property management company with offices in San Francisco and Denver.