REBusinessOnline

PGIM Provides $9.9M HUD Financing Package for Retirement Campus in Maine

FALMOUTH, MAINE — PGIM Real Estate Finance has originated a financing package totaling $9.9 million for OceanView at Falmouth, an 80-acre seniors housing campus in the Portland suburb of Falmouth. Sea Coast Management Co. owns the property, which features 42 custom-designed homes, 57 cottages, 118 independent living apartments and a 30-bed memory care facility. The financing includes two HUD healthcare loans and each is for a different property on the campus. A $4.4 million loan will be …

Bellwether Enterprise Secures $85M Loan for Warehouse Portfolio in California, Pennsylvania

LOS ANGELES COUNTY, CALIF. — Bellwether Enterprise Real Estate Capital has arranged $85 million in permanent financing for s five-building warehouse portfolio. Totaling 1.1 million square feet, three buildings are located in Los Angeles County, one in the Inland Empire West area and one in Central Pennsylvania’s Lehigh Valley submarket. Each building is a concrete tilt-up warehouse building with minimal office build-out and clear heights ranging from 24 feet to 36 feet. Additionally, …

Joint Venture Acquires 1.2 MSF Boston Office Property for $845M

BOSTON — A joint venture between Allianz Real Estate, Beacon Capital Partners and the Massachusetts Pension Reserves Investment Management (PRIM) Board has acquired 53 State Street, a 1.2 million-square-foot office property in Boston’s Financial District. The sales price was $845 million. The Class A property, known locally as Exchange Place, comprises the historic Boston Stock Exchange building that was completed in 1891 and a 40-story office tower that was built in 1985. The building …

Leviathan Capital Secures $20M Construction Loan for Multifamily Development in Westchester, New York

WESTCHESTER, N.Y. — Leviathan Capital has secured a $20 million construction loan for the Grand, a transit-oriented multifamily community in Westchester. The 56,000-square-foot project will consist of 15 townhomes and nine penthouse units. The project is slated to be completed in 2021. Leviathan secured the non recourse loan with a completion and carry guaranty to the borrowers, a group that includes NBA basketball player Luol Deng. The lender was

Talonvest Capital Arranges $13.6M Construction Loan for Self-Storage Facility in New Jersey

RIDGEFIELD, N.J. — Talonvest Capital has arranged a $13.6 million construction loan for a 152,000-square-foot self-storage facility in Ridgefield. Located at 625 Grand Ave., the five-story building will feature 1,220 climate-controlled storage units as well as drive-in loading bays. Tom Sherlock, Jim Davies, Erich Pryor, and Terra Hendrich of Talonvest secured the financing on behalf of borrower, Integritas Partners. The lender was a Midwestern bank. The loan included a five-year term with …

NAI Mertz Brokers Sale of 84,400 SF Industrial Facility in Philadelphia

PHILADELPHIA — NAI Mertz has brokered the sale of an 84,400-square-foot industrial facility in Philadelphia. The sales price was undisclosed. Located at 3601 Island Ave., the property features six-inch reinforced concrete floors, six tailgates, 14 covered van-high loading positions and ceiling heights ranging from 15 to 23 feet. Jonathan Klear of NAI Mertz represented the buyer, seafood supplier Ocean Kingdom Inc., in the transaction. The seller was undisclosed. Ocean Kingdom will utilize a …

Thor Equities Sells 7,900 SF Retail Property in Brooklyn

NEW YORK CITY — Thor Equities has sold a 7,900-square-foot retail property in Brooklyn. The sales price was undisclosed. Located at 1221 Ave. J in the Midwood neighborhood of Brooklyn, the three-story property includes more than 135 feet of frontage on Avenue J and East 13th Street. Thor Equities acquired the building in 2014 and secured a long-term lease with Capital One for the entire

Marcus & Millichap Negotiates $2M Sale of Retail Property in New Jersey

WYCKOFF, N.J. — Marcus & Millichap has negotiated the $2 million sale of a retail property in Wyckoff. The 10,290-square-foot property is located at 403 Goffle Road. Alan Cafiero, Ben Sgambati and John Moroz of Marcus & Millichap represented the seller, a private investor, in the transaction. Fahri Ozturk of Marcus & Millichap represented the buyer, a limited liability

S3 Capital Partners Provides $75M Construction Loan for Apartment Tower in the Bronx

NEW YORK CITY — S3 Capital Partners has provided a $75 million construction loan for an apartment tower in the Mott Haven neighborhood of the Bronx. Located at 210 E. 135th St., the property will include 237 residential rental apartments and 3,000 square feet of commercial space. Isaac Filler of Meridian Capital Group represented the borrower, Cheskel Schwimmer of CGS Developers. Terms of the financing were not

IKEA to Open First Manhattan Store

NEW YORK CITY — IKEA U.S. has announced that it will open its first store in Manahattan. The ‘IKEA Planning Studio’ is slated to open at 999 Third Ave. in spring 2019. The Planning Studio concept will focus on smart solutions for urban living and small spaces. The New York City location is the first market in the U.S. for the concept. IKEA U.S. has recently made a number of investments to enhance its e-commerce offerings, including lower priced shipping & delivery, Click & …

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