NEW YORK CITY — Global Net Lease (NYSE: GNL), a New York City-based REIT, has sold a national portfolio of nine cold storage properties for $170 million. The properties, the locations of which were not disclosed, are all leased to subsidiaries of operator Americold Realty Trust (NYSE: COLD), with a weighted average of 3.3 years of remaining term on the leases. The deal traded at a cap rate of 7.88 percent. The buyer was not disclosed.
NEW YORK CITY — Invictus Real Estate Partners has provided a $69 million bridge loan for Mason Gray, a 158-unit apartment complex in Brooklyn’s Crown Heights neighborhood. The seven-story building houses 110 market-rate units, most of which are one-bedroom residences, and 48 affordable housing units as well as a 9,000-square-foot community facility space. Mike Diaz and Aaron Appel of Walker & Dunlop arranged the loan on behalf of the borrower, Hope Street Capital, which will use the proceeds to complete construction and fund leasing costs.
NEW YORK CITY — Cushman & Wakefield has arranged a $56 million loan for the refinancing of a 138-unit apartment building located at 230 Classon Ave. in Brooklyn’s Clinton Hill neighborhood. The building houses one- and two-bedroom units and offers amenities such as a private landscaped park, coworking lounge, gaming terrace, fitness center and outdoor grilling and dining stations. Gideon Gil, Zach Kraft and Sebastian Sanchez of Cushman & Wakefield arranged the fixed-rate loan through QuadReal Property Group on behalf of the borrower, Quinlan Development Group.
NEW YORK CITY — The Hakimian Organization, a locally based development and investment firm, has begun leasing SOLA, a 364-unit apartment community in the Woodside neighborhood of Queens. Designed by Aufgang Architects with interiors by Durukan Design, the property features studio, one-, two- and three-bedroom units that range in size from 350 to 1,200 square feet. Amenities include a soundproof music room, art studio, children’s playroom, fitness center, coworking lounge, dog park, zen garden and a golf simulator. Rents start at approximately $3,000 per month for a studio apartment.
NEW YORK CITY — Hines will open a 63,000-square-foot flexible workspace in Manhattan’s Hudson Square neighborhood under its proprietary coworking brand, The Square. The space at 205 Hudson St. formerly housed a WeWork facility and will be the brand’s first in New York City. The space will feature a variety of private suites, group meeting areas and amenity spaces. The opening is scheduled for later this summer.
NEW YORK CITY — XR Extreme Reach has signed a 13,400-square-foot office lease at The Spiral in Midtown Manhattan. The digital marketing firm is relocating its headquarters from 1633 Broadway to the 21st floor of the 66-story tower. Greg Conen and Sam Brodsky internally represented the landlord, Tishman Speyer, in the lease negotiations. Joe Messina and Seth Hecht of JLL represented the tenant.
NEW YORK CITY — Locally based financial intermediary Ariel Property Advisors has arranged a $9.4 million Fannie Mae loan for the refinancing of Olga Mendez Apartments, a 77-unit multifamily complex in East Harlem. The two-building property is located at 1652 Park Ave. and 91 E. 116th St. Matt Swerdlow and Matt Dzbanek of Ariel Property Advisors placed the nonrecourse loan, which was structured with three years of interest-only payments and seven years of payments at a fixed interest rate of 5.56 percent, through PGIM. The borrower was not disclosed.
HUNTINGTON STATION, N.Y. — Whole Foods Market will open a 43,916-square-foot store in Huntington Station, a hamlet and census-designated area on Long Island, on July 17. The store will be located at 330 Walt Whitman Road and will offer more than 2,000 locally sourced items from more than 400 regional suppliers. The store will also feature full-service meat and seafood counters, a bakery, wellness and beauty section and a selection of more than 300 craft beers. The Austin-based grocer operates about 30 stores in New York, including more than half a dozen on Long Island.
NEW YORK CITY — HSBC Bank has signed a 35,400-square-foot office lease expansion at The Spiral, a 66-story tower located in Midtown Manhattan. The company initially signed a 20-year, 265,000-square-foot lease for its headquarters space in May 2022. Following the expansion, HSBC will occupy the entire 29th and 30th floors in addition to three podium floors and a recently opened wealth center at street level. Greg Conen and Sam Brodsky internally represented the landlord, Tishman Speyer, in the lease negotiations. Peter Riguardi, Matt Astrachan, Mitchell Konsker and Will McGarry of JLL represented HSBC.
NEW YORK CITY — Affinius Capital, which is a joint venture between San Antonio-based USAA Real Estate and New York-based Square Mile Capital Management, and global investment firm Kennedy Wilson have provided a $160 million construction loan for a multifamily project in Brooklyn. The site at 340 Nevins St. is located in the Gowanus neighborhood. The project will be a 22-story building that will house 320 units, 25 percent of which will be set aside as affordable housing, as well as 29,000 square feet of retail space. Units will come in studio, one-, two- and three-bedroom floor plans, and amenities will include a pool, fitness center, coworking spaces and indoor and outdoor lounges. Dustin Stolly and Jordan Roeschlaub of Newmark arranged the debt on behalf of the borrower, a partnership between Tavros Holdings and Charney Cos. Completion is slated for mid-2027.