KING OF PRUSSIA, PA. — A joint venture between Ayer Capital Advisors, Ashwin Pandya and The Wankawala Organization has acquired a Holiday Inn Express & Suites in King of Prussia for an undisclosed price. The hotel features 155 guest rooms. Chatham, N.J.-based Cronheim Hotel Capital secured financing for the acquisition. The name of the seller was not released.
EAST HAVEN, CONN. — O,R&L Commercial has arranged a long-term lease for 26,460 square feet of retail space at Foxhaven Plaza, located on Foxon Road in East Haven. Flippin Out, dba Rockin’ Jump Trampoline Park, will open a location at the shopping center in early February. Rich Guralnick of O,R&L Commercial represented the landlord, Foxhaven Plaza LLC, while David Gorback of Colonial Properties represented the tenant in the deal.
ROSELAND, N.J. — Gebroe-Hammer Associates has brokered the sale of Nob Hill Apartments, a garden-style apartment community located at 28 Nob Hill Road in Roseland. Novel Property Ventures acquired the property from Segal & Segal for $130 million. The 360-unit property features one- and two-bedroom layouts, as well as three-story duplexes with ground-floor garages and storage rooms. Community amenities include a swimming pool, tennis courts, off-street parking and sundecks. Greg Pine and Ken Uranowitz of Gebroe-Hammer represented the seller, while Nicholas Nicolaou of Gebroe-Hammer procured the buyer. Additionally, JLL secured $102 million in acquisition financing and a $10 million construction facility for the purchase and rebrand of the 30-building property. Acore Capital provided the financing package, which was arranged by Dustin Stolly and Aaron Niedermayer of JLL.
PHILADELPHIA — A joint venture between The Goldenberg Group, Hines and ASB Real Estate Investments has announced the structural topping out of 1213 Walnut, a residential tower located in Philadelphia’s Center City. The 26-story, 300,000-square-foot building will feature 322 for-rent luxury apartment units, 7,200 square feet of retail space, 11,000 square feet of amenity space, a 3,000-square-foot fitness center, rooftop deck, dog park and bicycle storage. Preleasing will begin in April, with occupancy slated for July.
TARRYTOWN, N.Y. — SL Green Realty Corp. has entered into an agreement to sell an office building located at 520 White Plains Road in Tarrytown. An undisclosed buyer will purchase the 180,000-square-foot building for $21 million, or $117 per square foot. Jeff Dunne of CBRE represented the buyer in the deal, which is expected to close during the second quarter.
LAWRENCE, N.J. — Houlihan-Parnes Realtors has placed an $18 million first mortgage and credit facility for Lawrence Shopping Center, located at 2495-2421 Brunswick Pike and Harding Avenue in Lawrence. Acme Supermarket, Burlington Coat Factory and Staples are major tenants at the 400,000-square-foot property. A joint venture between JJ Operating Inc. and principals and investors from Houlihan-Parnes Realtors recently acquired the property.
WAYNE AND SOMERSET, N.J. — G.S. Wilcox & Co. has secured two loans totaling $12.7 million for two industrial properties in New Jersey. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. arranged the financing for the borrowers. In the first transaction, the firm secured a $10 million loan for a 311,813-square-foot warehouse distribution center in Wayne. The borrower was an undisclosed developer. In the second deal, the company secured $2.7 million loan for the refinancing for a warehouse facility located in Somerset for an undisclosed developer borrower.
SCRANTON, PA. — Hinerfield Commercial Real Estate has arranged the acquisition of an industrial building located at 501 S. Washington Ave. in Scranton. MTM Real Estate Co. sold the 158,200-square-foot building to Wyoming Avenue Development for an undisclosed price. Banko Northeast currently occupies the property, which offers dry and wet warehouse distribution space and 13,000 square feet of office space. Dave Daris of Mericle Commercial Real Estate represented the seller, while John Cognetti of Hinerfield represented the buyer in the deal.
NEW YORK CITY — Cushman & Wakefield has secured two loans, totaling $21.8 million, for two multifamily properties in Queens. The loans feature a 3.25 percent fixed rate for a five-year term. Proceeds of the loans will be used to recapture equity on the properties. The properties are located at 108-20 62nd Drive in the Forest Hills section of Queens and 136-42 Maple Ave. in Flushing. Totaling 130,000 square feet, the properties offer a total of 135 residential units. Morris Betesh, Justin Boruchov, Daniel Belecen and Omar Ferreira of Cushman & Wakefield handled the financing. Dime Savings Bank provided the loans for the undisclosed borrower.
NEW YORK CITY — Coldwell Banker Commercial Reliable Real Estate has arranged the sale of an industrial property located between Schenk Avenue and Barbey Street in Brooklyn. An undisclosed buyer acquired the 76,000-square-foot property for $11 million. Built in 1914, the property features five buildings and two vacant parking lots. Joseph Hamdan and Mary Kae Higgins of Coldwell Banker Commercial Reliable Real Estate represented the undisclosed seller in the deal.