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945-Summer-St.-Stamford
AcquisitionsConnecticutHealthcareNortheast

CBRE Arranges Sale of Three-Building Medical Office Portfolio in Stamford, Connecticut

by Taylor Williams

STAMFORD, CONN. — CBRE has arranged the sale of a portfolio of three medical office buildings in the southern coastal Connecticut city of Stamford. The portfolio’s square footage was not disclosed. The buildings at 945, 999 and 1275 Summer Street are home to 15 different medical and dental practices in fields such as orthopedics, pediatrics, orthodontics and female reproductive health. Jeff Dunne, Steve Bardsley, Travis Langer, Brannan Knott and Chris Bodnar of CBRE represented the seller, Summer Street Properties, in the transaction. CBRE also procured the buyer, an affiliate of Albany Road Real Estate Partners.

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LoansMultifamilyNew YorkNortheast

North Bridge Provides $8.5M C-PACE Loan for Midtown Manhattan Apartment Complex

by Taylor Williams

NEW YORK CITY — North Bridge, a provider of commercial credit solutions, has provided an $8.5 million C-PACE (Commercial Property Assessed Clean Energy) loan for Herald Towers, a three-building apartment complex located at 50 W. 34th St. in Midtown Manhattan. The borrower, JEMB Realty, will use the loan proceeds to fund infrastructural upgrades and modernize building systems across the 690-unit complex. According to North Bridge, the transaction represents the first multifamily C-PACE deal to close in New York City.

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AcquisitionsMultifamilyNew JerseyNortheast

Kislak Negotiates $8.8M Sale of Northern New Jersey Apartment Building

by Taylor Williams

WOODCLIFF LAKE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $8.8 million sale of a 14-unit apartment building in Woodcliff Lake, located near the New York-New Jersey border. The three-story building at 62 Broadway was completed in 2019 and includes five retail spaces. According to Apartments.com, the building houses one- and two-bedroom units that range in size from 755 to 1,150 square feet. Jason Pucci and Barry Waisbrod of Kislak represented the seller in the transaction, and Michael Todaro of Serhant Real Estate procured the buyer. Both parties requested anonymity.

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Leasing ActivityNew YorkNortheastOffice

StoneX Signs 21,904 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — StoneX has signed a 21,904-square-foot office lease expansion in Midtown Manhattan. The global financial services firm is taking additional space on the 32nd floor at 230 Park Avenue, bringing its total footprint to 94,742 square feet. Mark Weiss, Scott Shelbourne and Melissa Rubenstein of Cushman & Wakefield represented StoneX in the lease negotiations. Brian Waterman, Scott Klau, Erik Harris, Zach Weil and Cole Gendels of Newmark, along with internal agents Andrew Ackerman and Walter Rooney, represented the landlord, RXR.

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Prospect-Place-Hackensack
LoansMultifamilyNew JerseyNortheast

CBRE Provides $96M Agency Loan for Refinancing of Prospect Place Apartments in Hackensack

by Taylor Williams

HACKENSACK, N.J. — CBRE has provided a $96 million Freddie Mac loan for the refinancing of Prospect Place, a 360-unit apartment complex in Hackensack. Prospect Place consists of two buildings: an 18-story tower with 157 units and a five-story midrise building with 203 apartments. Residences come in one- and two-bedroom floor plans. Amenities include an outdoor pool, fitness center, clubhouse, resident lounge, business center, courtyard and a billiards room. Judah Hammer, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz and Lauren Weinstein of CBRE originated the financing on behalf of the owner, Khosla Capital.

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AcquisitionsIndustrialNew JerseyNortheast

Devli Real Estate Buys 37,000 SF Industrial Building in Leonia, New Jersey

by Taylor Williams

LEONIA, N.J. — New Jersey-based investment firm Devli Real Estate has purchased a 37,000-square-foot industrial building in Leonia, located in Bergen County. The building at 100 Leyland Drive features a clear height of 24 feet, four dock-high loading positions and two drive-in doors. David Aboudi of Aboudi Realty brokered the deal. The seller and sales price were not disclosed.

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AcquisitionsMassachusettsNortheastRetail

Linear Retail Acquires 11,330 SF Retail Property in Needham, Massachusetts

by Taylor Williams

NEEDHAM, MASS. — Local owner-operator Linear Retail Properties has acquired an 11,330-square-foot property in Needham, a southwestern suburb of Boston. Needham Center Shoppes is a single-story store block that was fully leased at the time of sale. Tenants include Needham Center Fine Wines, Citizen’s Bank, Gari’s Japanese Fusion Bistro, Bagel’s Best, Kumon and Beauty Muse. The seller was a local family. The sales price was $7 million.

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DevelopmentNew HampshireNortheastRetail

Village Center Properties Completes 8,700 SF Retail Project in Windham, New Hampshire

by Taylor Williams

WINDHAM, N.H. — New Hampshire-based Village Center Properties has completed an 8,700-square-foot retail project in Windham, located near the Massachusetts-New Hampshire border. Known as Village Center Place, the project comprises three spaces, two of which have been leased. The remaining, 3,250-square-foot restaurant space includes patio seating. Sperry Commercial Realty Associates is the property’s leasing agent.

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Company NewsFloridaNew YorkNortheastSoutheastTop Stories

Blue Owl Capital Agrees to Acquire Sila Realty Trust for $2.4B

by Taylor Williams

NEW YORK CITY AND TAMPA, FLA. — Affiliates of Blue Owl Capital (NYSE: OWL), a New York City-based private equity firm, have entered into an agreement to acquire Tampa-based REIT Sila Realty Trust (NYSE: SILA) for $2.4 billion. The deal, which will make Sila a private company, is expected to close late in the second quarter or early in the third quarter of this year. The valuation represents a per-share stock price of $30.38 for Sila. That price constitutes a 19 percent premium over Sila’s closing stock price of $25.53 per share on April 17, the last full day of trading prior to the announcement. The share price also represents a 25.6 percent premium over Sila’s average volume weighted price for the last 30 trading days. BofA Securities is serving as Sila’s exclusive financial advisor, and Hogan Lovells US LLP is acting as Sila’s legal counsel. Citigroup Global Markets Inc. is acting as lead financial advisor to Blue Owl, with Truist Securities Inc. also acting as a financial advisor. Newmark is Blue Owl’s real estate advisor. Kirkland & Ellis LLP is serving as legal advisor to Blue Owl. “The Sila team has curated a highly diversified collection of critically important …

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Abbey-Lane-Apartments-Danbury
ConnecticutLoansMultifamilyNortheast

Newmark Provides $111.4M Agency Loan for Refinancing of Multifamily Property in Danbury, Connecticut

by Taylor Williams

DANBURY, CONN. — Newmark has provided a $111.4 million Fannie Mae loan for the refinancing of Abbey Lane Apartments, a 470-unit multifamily property located in the southern Connecticut city of Danbury. Abbey Lane Apartments features studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances and in-unit washers and dryers. Select residences offer private patios or balconies. Amenities include a pool, coworking lounge and a children’s playroom. Rob Cantizano, Greg Primiano and Deric Obeldobel of Newmark originated the financing on behalf of the owner, Abacus Capital Group.

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