WILMINGTON, DEL. — HFF has secured $12.6 million in refinancing for an office building located at 1011 Centre Road in Wilmington. Ryan Ade of HFF arranged the long-term, fixed-rate loan with a regional bank for the borrower, Delle Donne & Associates. Built in 1986, the 90,000-square-foot property is fully leased.
CLARK, N.J. — Denholtz Associates has received $3.8 million in refinancing for two flex properties, located at 89 and 225 Terminal Ave. within Clark Commercial Center in Clark. The properties total 27,332 square feet of space. KinderCare leases 13,464 square feet of space at 89 Terminal Avenue, and Retro Fitness leases 13,868 square feet of space at 225 Terminal Avenue. Brad Fouss of OceanFirst Bank arranged the refinancing for the borrower through OceanFirst Bank.
BOSTON — Synergy Investment has completed the disposition of an office and retail building located at 26 West St. in Boston’s Ladder District. Boston-based Eden Properties acquired the property for $21.8 million. Services Employee International Union occupies a portion of the building on a long-term lease. Scott Dragos of Colliers International Boston represented the seller in the deal.
LACONIA, N.H. — Connecticut-based investment bank HJ Sims has arranged $17.5 million in bond financing for Taylor Community, a nonprofit continuing care retirement community (CCRC) in Laconia, a resort and retirement destination in New Hampshire’s Lakes Region. The new bonds will replace and restructure existing debt on the property, as well as terminate third-party interest rate swaps. The community’s improved financial performance and higher occupancy opened up opportunity for the refinancing. The new bonds feature a fixed 3.75 percent interest rate for a 10-year period.
FRANKLIN PARK, N.J. — Cronheim Mortgage has secured $10.3 million in refinancing for a grocery-anchored retail center located in Franklin Park. The non-recourse loan features a three-year term and a 30-year amortization schedule. A mix of local and national retailers, including Dollar General and PNC Bank, occupy the 67,531-square-foot property. The name of the borrower was not released.
SYRACUSE, N.Y. — Integra Real Estate Capital has arranged a $5.5 million non-recourse loan for the refinance of Camillus Plaza, a retail center located in Syracuse. Rite Aid Pharmacy, Visionworks and Solvay Bank anchor the 45,000-square-foot shopping center. Meyer Perlman of Integra secured the 10-year fixed-rate loan through a CMBS lender for the borrower, a New York-based ownership group.
ST. ALBANS CITY, VT. — Nedde Real Estate has arranged the sale of an office building located at 242 S. Main St. in St. Albans City. BAART purchased the 6,000-square-foot Knights of Columbus building from Vermont Club Home Association for an undisclosed price. Grant Butterfield of Nedde Real Estate arranged the transaction.
NEW YORK CITY — PCCP has provided a $66 million senior loan to Coral Realty for the recapitalization and lease-up of Theater House, a newly developed apartment tower located at 237 E. 34th St. in the Kips Bay submarket of Midtown Manhattan. The 25-story property is 99 percent complete with move-in slated for March. Theater House features 105 units in studio, one- and two-bedroom layouts, 7,000 square feet of indoor and outdoor communal space, a 24/7 gym facility and a 24/7 doorman. Coral Realty is a privately owned real estate firm focused on developing residential units in New York City and Florida.
PHILADELPHIA — HFF has arranged permanent financing for the retail portion of Rodin Square, a 79,233-square-foot newly built mixed-use property in Philadelphia’s Center City. Ryan Ade, Chris Munley and Mark West of HFF secured the 20-year, fixed-rate loan through Principal Real Estate Investors for the borrower, a partnership between Rodin Group and Benenson Capital Partners. Whole Foods Market anchored the property, which is situated on 2.9 acres at 501 N. 22 St. Additional tenants include Thomas Jefferson Hospital, CVS/pharmacy and Santander Bank.
SOUTH HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of an industrial building located at 262 Green St. in South Hackensack. Alan Party Rental acquired the 26,000-square-foot building from A&E Green Realty, Rosemont Court Associates and Dody Road Associates for an undisclosed price. The freestanding building features 2,500 square feet of office space, 40 parking spaces, two tailgates and one drive-in door. Jeff DeMagistris and Thomas Vetter of NAI Hanson represented the sellers in the deal.