DICKINSON, N.D. — Bernard Financial Group (BFG) has arranged a $14.2 million CMBS loan for the refinancing of a 392-unit multifamily portfolio in Dickinson, a city in western North Dakota. Dennis Bernard and Joshua Bernard of BFG arranged the loan on behalf of the borrower, Falcon Heights Owner LLC.
CHICAGO — NAMI Chicago, a mental health services provider, has signed a 10,058-square-foot office lease at Old Town Park, which is located at 224 W. Hill St. in Chicago. The tenant will relocate from its current 6,500-square-foot space at 1801 W. Warner Ave. this fall. Built in 2021, Old Town Park features 80,000 square feet of office space with ground-floor retail. The property is situated where the Old Town and River North neighborhoods meet. Ryan Foran and Jonathan Zeitler of Cresa represented the tenant. Abby McFayden of Madison Rose represented the owner, Onni Group.
NEW YORK CITY — Locally based brokerage firm and financial intermediary Ariel Property Advisors has arranged a $6 million loan for the refinancing of a portfolio of four multifamily buildings totaling 22 units in Brooklyn’s Bedford-Stuyvesant area. The portfolio, which was fully occupied at the time of the loan closing, includes five commercial units. Matthew Dzbanek, Matt Swerdlow, Rhea Vivek and Anthony Priest of Ariel arranged the nonrecourse, fixed-rate loan, which carried a five-year term and a 30-year amortization schedule. The borrower and direct lender were not disclosed.
BAYONNE, N.J. — Emerald Creek Capital, a New York City-based bridge lender, has provided a $5.4 million loan for the refinancing of a 19-unit apartment building in the Northern New Jersey community of Bayonne. The five-story building at 425-429 Avenue C was constructed in 2023, includes 19 parking spaces and is currently in the lease-up stage. Alex Dobosh and Michael Lee of HKS Real Estate Advisors arranged the loan on behalf of the undisclosed borrower.
SANFORD, FLA. — A partnership between Royal Palm Cos. and Mattoni Group has obtained $86 million in construction financing for Tuscany Village, a 420-unit multifamily development located at 4201 W. First St. in the north Orlando suburb of Sanford. The financing comprises $68 million in debt from a partnership between City National Bank and Abanca USA and $18 million in preferred equity from Origin Investments. The co-developers plan to break ground on the 21-acre project in the coming weeks and deliver the property in phases by 2026.
NEW YORK CITY — Northampton Capital Partners has signed a 5,542-square-foot office lease at 340 Madison Avenue in Manhattan. The alternative asset management firm is taking space on the 10th floor of the 750,000-square-foot building. David Mainthow and Steven Langton of Cushman & Wakefield represented the tenant in the lease negotiations. Paul Glickman, Matt Astrachan, Cynthia Wasserberger, Dan Turkewitz and Harrison Potter of JLL, along with internal agents William Elder and Andrew Ackerman, represented the landlord, RXR.
CROSSVILLE, TENN. — Newmark has arranged the sale-leaseback of a five-building industrial portfolio in Crossville, about 70 miles west of Knoxville via I-40. The portfolio spans 920,000 square feet across two property sites: four buildings at 297-349 Sweeney Drive and a 570,745-square-foot facility at 301 Porcelain Drive. The properties are situated about 2.5 miles apart and both have direct access to I-40. Andrew Sandquist, J.C. Asensio and Briggs Goldberg of Newmark represented the seller and tenant, flooring manufacturer AHF Products, in the transaction. The tenant will continue to occupy the portfolio on a long-term master lease. TPG Angelo Gordon purchased the portfolio for an undisclosed price. Jordan Roeschlaub and Christopher Kramer of Newmark arranged an undisclosed amount of acquisition financing through Citi Group on behalf of TPG Angelo Gordon.
CORAL SPRINGS, FLA. — CF Warehouse LLC, an affiliate of The Eisenberg Group based in Coral Springs, Fla., has acquired a 73,000-square-foot industrial building located at 6072 Cinderlane Parkway in Orlando. Derek Riggelman of Lee & Associates represented the undisclosed seller in the $9.8 million transaction. The buyer handled the deal in-house. According to LoopNet Inc., the facility was built in 1991.
HARTSELLE, ALA. — MAG Capital Partners has purchased a 105,986-square-foot manufacturing facility located at 1101 Young Drive SE in Hartselle, a city in northern Alabama. The Dallas-based investor purchased the single-story asset from the tenant, Excel Interior Door, a manufacturer of interior wooden doors. Daniel Macks and Phil DiGennaro of Stream Realty Partners represented the seller in the sale-leaseback transaction, the terms of which were not released. Situated on a 10-acre site, the facility features 20-foot clear heights, four loading docks and 22 grade-level doors.
REDMOND, WASH. — Emerald Communities has completed a $63 million expansion project at Emerald Heights, a continuing care retirement community in Redmond, a suburb east of Seattle. The Courtyard building concept was first introduced in 2017 and construction began in September 2022. Emerald Heights is welcoming 34 residents to their new homes this week and eight units are still available. The three-level Courtyard building offers six apartment designs including one-bedroom, one-bedroom with a den, two-bedroom and two-bedroom with a den that range in size from 826 to 1,764 square feet. The Courtyard building encompasses an underground parking structure, an entry plaza, shared outdoor spaces and meeting areas on each floor for social gatherings. Architectural firm of Rice Fergus Miller designed the project under the direction of Dean Kelly. GLY Construction was the builder. In addition to the newly opened Courtyard, Emerald Heights is also working on a new $55 million assisted living project, FirView. This 67,555 square-foot expansion will bring 54 one-bedroom apartments of assisted living along with a new dining space, activity rooms, outdoor patio, underbuilding parking and a sky-bridge connection the main buildings. Dean Kelly of Rice Fergus Miller and GLY Construction will also be involved in the …