PITTSBURGH — HREC Investment Advisors has brokered the sale of La Quinta Inn & Suites Pittsburgh North McKnight, located at 4859 McKnight Road in Pittsburgh. Buffalo, N.Y.-based Hamister Group acquired the 145-room hotel for an undisclosed price. Ketan Patel and Ted Anka of HREC represented the seller in the transaction.
NEW YORK CITY — A partnership between Magnum Real Estate Group and Winter Properties has completed the development of 24th Street Residence, a 505-bed residence hall located at the School of Visual Arts in New York City. Designed by Ismael Leyva Architects, the recently completed 146,827-square-foot building features student housing, rotating exhibition space, retail and office facilities. The residence hall offers double and triple rooms in a micro-apartment format, each featuring a private bathroom and kitchenette. Community amenities include an outdoor terrace with a barbecue and wet bar; a fully equipped fitness center and yoga room; a theater; a multi-media room and lounge; bike storage; and indoor laundry facilities.
ANDOVER, MASS. — Spear Street Capital has completed the disposition of an office building located at 400 Minuteman Road in Andover. Carter Validus Mission Critical REIT II acquired the property for $37 million. The 153,000-square-foot building is fully occupied by Time Warner Cable and The Weather Company. The building is part of the seven-building Minuteman Park, a 1 million-square-foot Class A office campus. Campus amenities include two full-service cafeterias, a coffee bar, two fitness centers and a game room/lounge. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and Torin Taylor of Newmark Grubb Knight Frank represented the seller in the deal.
NORTON, MASS. — On behalf of NorthBridge Partners, CBRE/New England’s Debt & Structured Finance team has arranged $19 million in acquisition financing for a warehouse and distribution facility located at 192 Mansfield Ave. in Norton. The 347,000-square-foot property is fully leased to Advance Auto Parts Inc. Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE secured the financing for the borrower.
STAMFORD, CONN. — Henkel Consumer Goods Inc. has leased 135,000 square feet of office space at 200 Elm St. in downtown Stamford. The tenant will use the newly renovated space as headquarters for Henkel in North America. The building is part of BLT Financial Centre, which also includes 695 E. Main St. in Stamford. Building and Land Technology (BLT) acquired the property in 2012 and recently completed a multi-million-dollar renovation to transform the vacant corporate property into an amenity-rich, fully modernized office asset.
NEW YORK CITY — Cushman & Wakefield has appointed Bruce Mosler, chairman of Global Brokerage, as chair of the firm’s Veterans Initiative. In this role, Mosler will oversee a comprehensive program aimed at hiring U.S. veterans into various service lines and geographies at the Cushman & Wakefield. In order to meet its goal of hiring additional veterans to its workforce, the company will leverage existing relationships with partner veteran-focused organizations, like Syracuse University’s Institute for Veterans and Military Families and the Fisher House Foundation. Additionally, the firm will work closely with the Veterans Jobs Mission, a coalition of more than 230 companies that have collectively employed 348,000 veterans.
NEW ROCHELLE, N.Y. — HFF has facilitated the sale of La Rochelle, a 25-story luxury apartment building located at 255 Huguenot St. in New Rochelle. Boston-based DSF Group acquired the 412-unit property from 255 Huguenot Street Corp. for $148.5 million. The property features 43 studios, 142 one-bedroom, 185 two-bedroom and 42 three-bedroom units, including loft-style apartments and penthouse suites. Additionally, the building features 6,000 square feet of ground-floor retail space, a 422-space parking garage and rights for the development of an additional 40-story residential tower. On-site amenities include an outdoor swimming pool with sundeck, clubroom with fireplace, conference room, state-of-the-art fitness center, yoga room and a landscaped courtyard with grilling area. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Andrew Scandalios of HFF represented the seller in the transaction.
JERSEY CITY, N.J. — Urban Edge Properties has entered into a $43.7 million contract to acquire Hudson Mall, a retail center located in Jersey City. Developed in 1966, the 383,000-square-foot property is occupied by Marshalls, Toys R Us, Staples and Old Navy, among other retailers. The acquisition is expected to close in the first quarter of 2017 and includes the assumption of a $23.8 million, 5.07 percent mortgage maturing in 2023. The name of the seller was not released.
NEW YORK CITY — Meridian Capital Group has arranged $30 million in financing for the refinance of an office property located at 264-268 W. 40th St. in Manhattan’s Garment District. The 10-year loan, provided by a national balance sheet lender, features a competitive fixed rate of 3.5 percent. Avi Weinstock, Josh Rhine and Luke Hingson of Meridian secured the financing for the borrower, Renaissance Properties. The 20-story, 120,000-square-foot office building is occupied by 40 tenants, including two restaurants as retail tenants.
BOSTON — Related Beal has topped off Parcel 1B, a residential, retail and hospitality development in downtown Boston. Designed by CBT Architects, the 484,000-square-foot property will feature 239 affordable and workforce apartment units, 10,000 square feet of street-level retail space, 220 parking spaces and a Courtyard by Marriott. Operated by Turnberry Associates, the 220-room hotel will feature 2,500 square feet of meeting space. Situated within Boston’s Bulfinch Triangle, the property is located in close proximity to public transportation.
