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400-402-Foulk-Rd-Wilmington-DE
DelawareMultifamilyNortheast

HFF Facilitates Sale of 301-Unit Multifamily Property in Wilmington, Delaware

by Amy Works

WILMINGTON, DEL. — HFF has brokered the sale of Brandywine Hundred Apartments, a multifamily property located at 400 and 402 Foulk Road in the Brandywine Hundred neighborhood of Wilmington. A joint venture between CenterSquare Investment Management and Korman Residential Properties sold the property to a regional private buyer for an undisclosed price. Situated on 10.6 acres, the property features units averaging 946 square feet, a swimming pool with sundeck, tennis courts, a fitness center with televisions, a resident lounge with Wi-Fi, a business center and covered parking. Mark Thomson, Jose Cruz, Carl Feibig and Francis Coyne of HFF, along with Robert Stella of Financial Consulting Services, represented the seller in the transaction.

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201-Neelytown-Rd-Montgomery-NY
IndustrialNew YorkNortheast

GTJ REIT Acquires 248,370 SF Industrial Building in Montgomery, New York

by Amy Works

MONTGOMERY, N.Y. — GJT REIT has purchased an industrial building located at 201 Neelytown Road in Montgomery for an undisclosed price. Situated on 43 acres, the 248,370-square-foot distribution facility is leased to FedEx Ground on a 10-year term. GTJ REIT now owns 49 properties, totaling approximately 6 million square feet, in the Tri-State area. The name of the seller was not released.

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IndustrialLoansMassachusettsNortheast

Valencia Realty Capital Arranges $4.5M in Acquisition Financing for Warehouse Facility in Newburyport, Massachusetts

by Amy Works

NEWBURYPORT, MASS. — Valencia Realty Capital has arranged $4.5 million in acquisition financing for a cold-storage warehouse facility in Newburyport. The financing covers nearly 100 percent of the acquisition cost. The undisclosed borrower acquired the vacant 89,000-square-foot facility, located at 2 Opportunity Way, from a national REIT. Built in 1994 and expanded in 2008, the property features 26-foot clearance heights and approximately 14 percent of the building is office space. Stephen Smeke of Valencia secured the financing from a commercial lender for the borrower.

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Residences-Fairmont-Station-Hyde-Park-Boston
Affordable HousingLoansMassachusettsMultifamilyNortheast

MassHousing Provides $2.1M in Financing for Affordable Housing Community in Boston

by Amy Works

BOSTON — Massachusetts Housing Finance Agency (MassHousing) has provided $2.1 million in financing to Traggorth Cos. and Southwest Boston Community Development for the construction of Residences at Fairmont Station in Boston’s Hyde Park. Located at 11 Nott St., the community will feature 27 apartments for low- and moderate-income households. MassHousing is providing a $1.8 million permanent loan and $300,000 through the agency’s $100 million Workforce Housing Initiative. The community will feature one studio unit, three one-bedroom units, 18 two-bedroom units and five three-bedroom units, as well as a community room, green space and an outdoor play area. Of the 27 units, six will be for low-income households earning at or below 30 percent of the area median income (AMI) supported by a federal Section 8 Housing Assistance Payment Contract, five will be for households with incomes at or below 50 percent of AMI, 13 will be for households with incomes at or below 60 percent AMI, and three will be workforce housing units for households earning at or below 80 percent AMI. The project is also receiving financing from the city of Boston, and the Massachusetts Department of Housing and Community Development as well as an allocation of Low-Income Housing Tax …

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55-Wildcat-Dr-Linden-NJ
IndustrialNew JerseyNortheast

Colliers Arranges 181,000 SF Industrial Lease for ASA Apple in Linden, New Jersey

by Amy Works

LINDEN, N.J. — Colliers International has arranged a 181,000-square-foot industrial lease for ASA Apple in Linden. The transportation and logistics solutions company has signed a long-term lease for the industrial building located at 55 Wildcat Drive. ASA Apple is a public warehouse and intermodal transportation company operating in the Port of New York region. Richard Mirliss, Richard Madison and Alex Vitro of Colliers represented ASA Apple, while Tom Monahan of CBRE represented the property owner, Prologis.

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106-W-56th-St-NYC
LoansNew YorkNortheastOffice

Savanna Receives $100M in Construction Financing for Office Development in Manhattan

by Amy Works

NEW YORK CITY — Savanna has received $100 million in construction financing for an office building development at 106 W. 56th St. in Manhattan. When completed, the 26-story property will feature 90,000 square feet of high-end office space. Designed by Perkins Eastman, the tower is slated for completion in the third quarter of 2018. Kellogg Gaines, Aaron Niedermayer and Douglas Baillie of JLL arranged the financing, which includes a senior construction loan from United Overseas Bank and mezzanine financing from Canyon Partners Real Estate.

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Worldwide-Plaza-NYC
Mixed-UseNew YorkNortheastOfficeRetail

SL Green, RXR Realty to Acquire 48.7 Percent Interest in Worldwide Plaza in Manhattan

by Amy Works

NEW YORK CITY — SL Green Realty Corp. has partnered with RXR Realty to acquire a 48.7 percent interest in Worldwide Plaza, a Class A mixed-use property in Midtown Manhattan. New York REIT is selling the interest and will continue to own the remaining equity with WWP Sponsor, its existing partner. Slated to close in the fourth quarter, the transaction values the asset at $1.7 billion. Developed in 1989, Worldwide Plaza consists of a 49-story, 1.8 million-square-foot office tower, a 252,000-square-foot retail building with parking garage and a large open-air plaza. Tenants at the office tower include Nomura Holdings, Cravath Swaine and Moore LLP, WebMD, WNet.org, Rubenstein and CBS Broadcasting. The retail building features a five-stage off-Broadway theater, a 475-space parking garage and TMPL, a state-of-the-art fitness gym. At the time of sale, the property was 100 percent leased.

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West-Belt-Plaza-Wayne-NJ
LoansNew JerseyNortheastRetail

HFF Closes $18.7M in Acquisition Financing for Retail Center in North New Jersey

by Amy Works

WAYNE, N.J. — HFF has arranged $18.7 million in acquisition financing for West Belt Plaza, a retail center located in Wayne. Jon Mikula and Jim Cadranell of HFF secured the 10-year, fixed-rate loan through a life insurance company for the borrower, The Klein Group. Renovated in 2001, the 84,202-square-foot West Belt Plaza is leased to a variety of tenants, including PetSmart, HomeGoods, Fidelity Brokerage and Starbucks Coffee.

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75-S-Broadway-White-Plains-NY
New YorkNortheastOffice

KABR Group Sells Office Building in White Plains, New York, for $13.7M

by Amy Works

WHITE PLAINS, N.Y. — KABR Group has completed the sale of an office building located at 75 S. Broadway in downtown White Plains. Zef Perlleshi acquired the fully renovated building for $13.7 million. New York Department of Education, General Services Administration and New York Worker’s Compensation Board are tenants at the four-story building, which was 96 percent occupied at the time of sale. Multiple offers were made for the building on Ten-X Commercial’s Offer Select transaction platform. Dan Lessing of DSR Group brokered the transaction.

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LoansNew YorkNortheastRetail

Houlihan-Parnes Realtors Secures $2.1M in Refinancing for a Shopping Center in the Bronx

by Amy Works

NEW YORK CITY — Houlihan-Parnes Realtors has arranged a first mortgage refinancing for a one-story strip shopping center in the Bronx. Located at 3408-3418 Boston Post Road, the property features 12,600 square feet of rentable space. Ed Graf of Houlihan-Parnes secured the loan, which features a fixed rate for five years and a 30-year amortization schedule, for the undisclosed borrower.

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