NORTH BRANFORD, CONN. — Cushman & Wakefield has arranged the sale of Evergreen Woods, a continuing care retirement community located in North Branford. National Health Investors Inc. purchased the 299-bed property from Shoreline Life Care LLC for an undisclosed price. After acquiring the property, the buyer leased the property to Charlotte, N.C.-based Senior Living Communities. The community offers residents a full continuum of care with independent living, assisted living/supportive care and skilled nursing care. Richard Swartz, Jay Wagner and Aaron Rosenzweig of Cushman & Wakefield represented the seller in the deal.
ENFIELD, CONN. — Maragust Holdings LLC has purchased an industrial facility situated on 9 acres at 250 S. Road in Enfield. 3M Purification Inc. sold the 114,300-square-foot property for $2.9 million. Sentry Commercial represented the buyer, while Cushman & Wakefield of Connecticut Inc. represented the seller in the transaction.
BRANFORD, CONN. — O,R&L Commercial has completed a long-term lease for 8,000 square feet of R&D and flex space, located at 4 Pin Oak Drive in Branford. Saphlux LLC will expand its research and development operations in the newly constructed facility. Rich Lee of O,R&L Commercial represented the landlord, Plato Associates, while Rich Guralnick, also of O,R&L Commercial, represented the tenant in the lease.
NORTH BRANFORD, CONN. — National Health Investors Inc. (NYSE: NHI), a Tennessee-based healthcare REIT, has agreed to acquire an undisclosed continuing care retirement community (CCRC) in the New Haven suburb of North Branford for $74 million. NHI will lease the community to Senior Living Communities (SLC), a North Carolina-based operator. The 13-year lease features a rate of 6.8 percent with a 4 percent annual escalator during the first two years, and a 3 percent annual escalator thereafter. NHI will use its revolving credit facility to fund the acquisition. The seller in the transaction was not disclosed. The CCRC consists of 227 independent living units, 22 assisted living/memory care units and 50 skilled nursing units. This community will be the ninth leased by NHI to SLC.
DALLAS — The Dallas office of HFF has arranged post-acquisition financing for a portfolio of 154 convenience and gas station sites totaling 97.8 acres in the Northeast. The loan was provided by a consortium of lenders led by Capital One and BMO Harris. Andy Scott and Michael George of HFF’s Dallas office arranged the five-year, floating rate acquisition financing with 18 months of interest-only payments for the borrower, a subsidiary of a private real estate investment fund advised by Crow Holdings Capital-Real Estate. The portfolio comprises 88 sites in New York, 45 sites in Massachusetts, 11 sites in Connecticut, seven sites in New Hampshire, two Rhode Island sites and one site in Pennsylvania. All properties are subject to an absolute net lease for 20 years with a subsidiary of Petroleum Marketing Group. The amount of the loan was not released.
NORWALK, CONN. — Waltham, Mass.-based EPOCH Senior Living, in partnership with National Development, has broken ground on Bridges by EPOCH, a memory care assisted living community located at 123 Richards Ave. in Norwalk. Slated to open in fall 2017, the community will feature 64 memory-care suites and is designed for individuals living with all stages of memory impairment.
MILFORD, CONN. — USAA Real Estate Co. has acquired Silver Sands Plaza, a grocery-anchored retail property located on Bridgeport Avenue in Milford. David A. Mack Properties and Keystone Development Group sold the property for an undisclosed price. The 85,398-square-foot retail center is occupied by Stop & Shop, AutoZone and AAA. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the sellers and procured the buyer. Jason Gaccione of CBRE’s Debt and Structured Finance Group Finance Group represented the buyer on its financing of the acquisition.
GLASTONBURY, CONN. — Katz Properties has purchased Somerset Square, a retail center in Glastonbury, for $26.6 million. Situated on 15.3 acres, the 112,414-square-foot property is fully leased to a variety of tenants, including Stop & Shop, Barnes & Noble Bookstore, FedEx and the Paper Store. Tim Breda of Goedecke & Co. arranged mortgage financing for the acquisition. Winslow Property Management will provide leasing and property management services for the retail center. The name of the seller was not released.
ORANGE, CONN. — SH Corp. has completed the disposition of a retail property located at 249/259 Bull Hill Lane in Orange. AS Realty LLC acquired the 65,303-square-foot property for $10.8 million. Situated on seven acres, the property is fully leased to ShopRite through a 20-year net lease and an auto repair shop. Jim Koury of HFF represented the seller and procured the buyer in the deal.
EAST HAVEN, CONN. — O,R&L Commercial has arranged the sale of the former Connecticut Food Bank building, located at 150 Bradley St. in East Haven. Mario Luciani acquired the 28,712-square-foot industrial and office property for an undisclosed price. The buyer plans to use the building as headquarters for his ServPro franchises. Frank Hird and Tim McMahon of O,R&L Commercial represented the undisclosed seller, while Natuzza Dimasi of William Raveis Real Estate represented the buyer in the transaction.