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UC Funds Acquires Residence Inn by Marriott in Stamford, Conn., for $40M

STAMFORD, CONN. — UC Funds has acquired the Residence Inn by Marriott under construction in Stamford for $40 million. The property will be the only extended-stay hotel in downtown Stamford. Construction on the eight-story hotel is 60 percent complete, with delivery expected next winter. The 156-room property will include a fitness center, business center, breakfast area and meeting space.

April 27, 2017

Bellwether Enterprise Secures $37M Financing for Mixed-Use Property in NYC

NEW YORK CITY — Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has secured $37 million in financing for The Larkspur, a mixed-use property in the Central Harlem neighborhood of Manhattan. The eight-story building includes 116 apartment units along with seven ground-floor commercial spaces. Bellwether provided a fixed-rate CMBS loan with a 12-year term through Fannie Mae. The terms of the financing..

April 27, 2017

Groundbreaking Ceremony Planned for GE Innovation Point Office Project in Boston

BOSTON — GE will host a groundbreaking ceremony for its future campus, GE Innovation Point, at 15 Necco St. in Boston on May 8. When complete, the project will be home to 800 GE employees. GE Chairman and CEO Jeff Immelt will be on hand, along with Massachusetts Governor Charlie Baker and Boston Mayor Marty Walsh. Innovation Point will open in two phases in 2018.

April 27, 2017

WinnDevelopment to Build 140-Unit Multifamily Community in Metro Boston

QUINCY, MASS. — WinnDevelopment and nonprofit partner NeighborWorks Southern Mass are moving forward with plans to build a $44 million, 140-unit apartment community in Quincy. Known as The Watson on Howard, the project will be located on 1.7 acres and will feature the largest number of workforce units ever financed under MassHousing’s Workforce Housing Initiative, according to a release from WinnDevelopment. Amenities will include a gym, community room and courtyard.

April 27, 2017

JJ Operating, Houlihan-Parnes Realtors Acquire Shopping Center in Lawrence, N.J.

LAWRENCE, N.J. — JJ Operating Inc., in partnership with Houlihan-Parnes Realtors, has acquired Lawrence Shopping Center in Lawrence. The new owners will implement a $5 million renovation plan designed to improve the aesthetics and functionality of the center. Capital improvements will include a façade renovation, enhanced landscaping as well as storefront and tenant improvements. The renovations will be completed by the end of the year. The 393,430-square-foot shopping center is accessible..

April 27, 2017

HFF Secures $81.5M Recapitalization for Long Island Medical Office Portfolio

EAST SETAUKET, N.Y. — HFF has secured an $81.5 million recapitalization for Stony Brook Technology Center, an eight-building medical office portfolio totaling 261,824 square feet in the Long Island community of East Setauket. HFF represented the borrower, TRITEC Real Estate, and procured the lender, a fund advised by UBS Real Estate & Private Markets. Completed between 1987 and 2007, the portfolio is located in a master-planned business park. Stony Brook University occupies more than 65..

April 26, 2017

Colliers Negotiates $41M Sale, $26.7M Financing for Office Property in Boston

BOSTON — Colliers International has negotiated the $41 million sale of an office property located at 148 State St. in Boston. Colliers also arranged $26.7 million in acquisition financing for property, which is the corporate headquarters of Public Consulting Group (PCG), a public sector management and technology consulting firm. Colliers marketed the property on behalf of the seller, an entity controlled by principals of PCG, and procured the buyer, a joint venture controlled by Harbor..

April 26, 2017

NAI Mertz Brokers Sale of Office Building in Woodbury, N.J.

WOODBURY, N.J. — NAI Mertz has brokered the sale of Lakeside Professional Campus, a 45,000-square-foot office building located at 190 N. Evergreen Ave. in Woodbury. The NAI Mertz team of Rebecca Ting and Julie Kronfeld represented the seller in the transaction. The buyer, First National Realty Partners LLC, will retain NAI Mertz as the leasing agent for the complex. Lakeside Professional Campus is located near Interstate 295 and the New Jersey Turnpike.

April 26, 2017

Equity Office Signs Cyrus Capital to 23,000 SF Lease at Park Avenue Tower in NYC

NEW YORK CITY –– Equity Office has signed a lease with investment advisory firm Cyrus Capital Partners to move the Cyrus headquarters to a 23,356-square-foot space at the 36-story Park Avenue Tower in Manhattan. Cyrus Capital, an SEC-registered investment advisor, will occupy 15,048 square feet across the 34th floor and 8,308 square feet on the 35th floor. Equity Office will build out the space for the tenant, including construction of an internal staircase to connect the two floors, with..

April 26, 2017

Angel Commercial Arranges 29,000 Office Lease Expansion in Milford, Conn.

MILFORD, CONN. — Jon Angel of Angel Commercial has arranged a 29,000-square-foot lease expansion for RoadWerx in Milford. RoadWerx, a marketing and promotions agency, has signed a long-term lease to add the space to its headquarters at 60 Research Drive. Angel represented both the tenant and landlord in the transaction.

April 26, 2017