NEW YORK CITY — Ready Capital Structured Finance has arranged $6 million in financing for the acquisition, renovation and stabilization of a mixed-use property in SoHo. The financing is a non-recourse senior floating-rate bridge loan. The property features 7,500 square feet of retail, office and multifamily space.
WALTHAM, MASS. — NKF Capital Markets has arranged the sale of Stony Brook Office Park in Waltham. Jumbo Capital and Sound Mark Partners acquired the office park for $80 million. Robert Griffin, Edward Maher, Matthew Pullen, James Trible and Samantha Hallowell of NKF Capital Markets represented the seller, Clarion Partners, in the deal. Situated on 16 acres, the office park comprises four interconnected buildings totaling 270,196 square feet of institutional-quality office space at 130 Turner St. and a 3,925-square-foot retail asset at Five Turner St. At the time of sale, the property was 100 percent leased, anchored by Brainshark, Wolters Kluwer, TIAA, Stanley Black & Decker, Ultratech, DDJ Capital Management and Wells Fargo.
LAWRENCEVILLE, N.J. — HFF has secured financing for a joint venture between Rockpoint Group and The Brooksville Co. for the acquisition of Avalon Run East, an apartment community located at 100 Avalon Way in Lawrenceville. Michael Klein and Matthew Pizzolato of HFF arranged the seven-year, floating-rate loan through a national bank. Situated on 69 acres, the property comprises 16 three-story buildings featuring a total of 312 units in a mix of one-, two- and three-bedroom units averaging 1,094 square feet. Community amenities include a heated outdoor pool, tennis courts, a playground, picnic and grilling areas, a fully equipped fitness center, an indoor basketball court and a resident lounge.
PARSIPPANY, N.J. — A joint venture between Rubinstein Partners and Vision Real Estate Partners has purchased Morris Corporate Center IV (MCC IV), located at 369-379 Interpace Parkway in Parsippany. Intercontinental Real Estate Corp. and Ivy Realty sold the property for an undisclosed price. MCC IV comprises two five-story office buildings totaling 350,917 square feet and connected by a four-story glass atrium lobby. Kevin Welsh, Brian Schulz, Chuck Kohaut, Steven Schultz and David Simson of NFK Capital markets represented the seller and procured the buyer in the transaction.
HAMILTON, N.J. — Marcus & Millichap has brokered the sale of a single-tenant retail property, located at 2021 Nottingham Way in Hamilton. A private developer sold the property to a private investor for $5.5 million. Walgreens occupies the 14,280-square-foot property on a net-leased basis. Karly Iacono of Marcus & Millichap represented the seller, while Iacono and Jonathan Zamora, also of Marcus & Millichap, represented the buyer in the deal.
PLAINVIEW, N.Y. — SVN/Realty Three Advisors has arranged the sale of an industrial property located at 205 Express St. in Plainview. Robert Anton and Arthur Cerrone Jr. purchased the industrial property from 205 Express Street LLC for $2.8 million. Situated on 1.4 acres and built in 1995, the property features 20,200 square feet of industrial space. Lorraine O’Hara, Patricia Posillico and Aric Schachner of SVN/Realty Three Advisors represented the seller, while David Hunt of Hunt Corporate Services represented the buyer in the deal.
HAMILTON TOWNSHIP, N.J. — Solvere Senior Living will open Homestead at Hamilton, a $59.1 million seniors housing community in New Jersey, on Feb. 8. The project is located in the Trenton suburb of Hamilton Township, midway between New York City and Philadelphia. It will feature 96 independent living apartments, 75 assisted living apartments and 24 memory care apartments. The four-story building sits on a 24-acre site. Pike Construction Co. built the property, which J. Randolph Parry Architects PC designed. Andy Fritz will serve as general manager of the community. Based in Princeton, N.J., Solvere is an operator of seniors housing communities in Florida, New York, New Jersey, Texas, Maryland, West Virginia, Virginia and Indiana. Its partner company, Solutions Advisors, provides marketing, sales, consulting and creative services to the seniors housing industry nationwide.
LONDONBERRY, N.H. — NorthMarq Capital has arranged a $36.2 million construction loan for a multifamily property located in Londonberry. Mark Whelan of NorthMarq Capital secured the financing for the undisclosed borrower. The borrower plans to develop a 228-unit multifamily property, with a portion of the units designated as workforce housing. The financing terms include a permanent option at stabilization.
NEW YORK CITY — TerraCRG has brokered the sale of two multifamily buildings located at 460-464 Prospect Ave. in Brooklyn’s Prospect Park. An undisclosed buyer acquired the assets for $6.3 million. Adam Hess, Eddie Setton and Aaron Birns of TerraCRG facilitated the transaction. Totaling 15,120 square feet, the property features 16 two-bedroom apartments, with nine rent-stabilized and seven free-market units.
TRUMBULL, CONN. — Trumbull Developers has purchased an office building located on 10.7 acres at 100 Oakview Drive in Trumbull. Canon USA sold the 78,692-square-foot property for $4.5 million. The buyer plans to demolish the existing building and develop a six-building residential community featuring 202 apartments. Tim McMahon and Rich Lee of O,R&L Commercial represented the seller and procured the buyer in the deal.