REBusinessOnline

Author Archives

Capitol Seniors Housing to Break Ground for Two Seniors Housing Communities in New Jersey

SHREWSBURY AND MT. LAUREL, N.J. — Capitol Seniors Housing is developing two seniors housing communities in New Jersey. Construction is slated to begin this month on Chelsea Senior Living of Shrewsbury, a $29.3 million, 73,000-square-foot property located at 515 Shrewsbury Road. Slated to open in third quarter 2018, the community will feature 85 apartments, with 58 for assisted living and 27 for memory care, as well as a sunroom, bistro, tavern, outdoor patio, theater, art studio and gallery...

June 23, 2017

L3 Capital, LaSalle Acquire 77,000 SF Commercial Building in Boston’s Downtown Crossing

BOSTON — L3 Capital and LaSalle Investment Management have purchased a commercial building located at 399 Washington St. in Boston’s Downtown Crossing for an undisclosed price. The buyers will renovate and rebrand the more than 77,000-square-foot building as DTX 399. The building offers six levels of retail and creative office space. The owners have retained Colliers International to market the property for lease. The name of the seller was not released.

June 23, 2017

HFF Brokers Sale, Financing for 54-Unit Apartment Building in Manhattan

NEW YORK CITY — HFF has arranged the $57 million sale of an apartment building located at 200 E. 11th St. in Manhattan’s East Village. Benchmark Real Estate Group sold the 54-unit property to Shorenstein Co. The 12-story, 53,000-square-foot building features a mix of one-, two- and three-bedroom layouts, a rooftop deck and an amenity building with a gym, lobby and yoga studio. Jeff Julien, Rob Hinckley and Steven Rutman of HFF represented the seller and procured the buyer. Additionally,..

June 23, 2017

Roseview-PMRG Fund I Sells 135,615 SF Office Building in Cambridge, Massachusetts

CAMBRIDGE, MASS. — Roseview-PMRG Fund I, a discretionary fund managed by Boston-based Roseview Investment Advisors and Houston-based PMRG, has completed the disposition of 100 CambridgePark Drive, an office building located in Cambridge. An undisclosed buyer in conjunction with operating partner Longfellow Real Estate Partners acquired the 135,615-square-foot property for an undisclosed price. At the time of sale, the property was 96 percent occupied. The fund originally acquired the asset..

June 23, 2017

Bussel Realty Brokers $7.5M Sale of Nine-Building Industrial Park in Freehold, New Jersey

FREEHOLD, N.J. — Bussel Realty Corp. has facilitated the sale of Fairfield Industrial Park, a nine-building industrial park located at 912 Route 33 in Freehold. Fairfield Industrial Park LLC acquired the 165,000-square-foot asset for $7.5 million. Jordan Metz and Eduard Skutelsky of Bussel Realty represented the undisclosed seller, while Imperial Real Estate represented the buyer in the deal.

June 23, 2017

Meridian Capital Arranges $60M in Refinancing for Multifamily Property in Manhattan

NEW YORK CITY — Meridian Capital Group has arranged $60 million in refinancing for The York, a multifamily property located at 435 E. 79th St. on the Upper East Side of Manhattan. BLDG Management is the borrower. The 10-year loan, provided by a life insurance company, features a fixed-rate and full-term interest-only payments. Carol Shelby of Meridian secured the financing for the borrower. The 13-story property features 233 apartments, ground-floor retail space, a fitness center, 24-hour..

June 22, 2017

Homewood Suites by Hilton Opens 113-Suite Hotel in Saratoga Springs, New York

SARATOGA SPRING, N.Y. — Homewood Suites by Hilton has opened Homewood Suites by Hilton Saratoga Springs, located at 3368 S. Broadway in Saratoga Springs. Developed by Turf Pioneer Broadway, a joint venture between Turf Hotels Inc. and Pioneer Cos., the hotel features 113 suites in studio, one- and two-bedroom layouts with fully equipped kitchens and separate living and sleeping areas. On-site amenities include complimentary hot breakfast, WiFi, an indoor pool and hot tub, 480 square feet of..

June 22, 2017

Marcus & Millichap Brokers Sale of Apartment Complex in Lehigh Valley

BETHLEHEM, PA. — Marcus & Millichap has arranged the sale of Bethlehem Apartments, located at 1872 Livingston St. in Bethlehem. An undisclosed buyer acquired the asset for $2 million. The 24-unit property features a mix of studio and two-bedroom layouts in eight buildings. Daniel Bernard, Ridge MacLaren, Andrew Townsend and Clarke Talone of Marcus & Millichap represented the undisclosed seller and procured the buyer in the deal.

June 22, 2017

KeyBank Provides $21.5M in Refinancing for Multifamily Property in Upstate New York

COHOES, N.Y. — KeyBank Real Estate Capital has provided a $21.5 million first mortgage loan for the refinancing of the first phase of The Residences at Lexington Hills in Cohoes. Built in 2016, the multifamily property features 138 units. Chris Black of KeyBank’s National Multifamily Accounts Group arranged the Freddie Mac loan with an eight-year term, three-year interest-only period and 30-year amortization schedule. The undisclosed borrower will use the loan to refinance existing debt.

June 22, 2017

Bussel Realty Facilitates $13.2M Sale of Industrial Facility in Elizabeth, New Jersey

ELIZABETH, N.J. — Bussel Realty Corp. has arranged the sale of an industrial facility located at 400 S. Second St. in Elizabeth. RLFI-B SPE LLC sold the property to SNR Holdings LLC for $13.2 million. The property features 115,078 square feet of industrial space. Jordan Metz of Bussel Realty represented the seller in the transaction.

June 22, 2017