NEW YORK CITY — Berkadia has secured a $268.7 million loan for 20 Exchange Place, a luxury apartment building located in New York City. Nick Cassino of Berkadia arranged the 10-year, fixed-rate loan through Freddie Mac for the borrower, DTH Capital. Ackman-Ziff Real Estate Capital Advisors represented the borrower in the financing. Originally developed as headquarters for City Bank-Farmers Trust, the 57-story building now features 767 apartment units and 90,000 square feet of retail space.
NEW YORK CITY — Forest City Realty Trust, in partnership with Madison International Realty, has completed the disposition of Shops at Bruckner Boulevard, a specialty retail center located in the Bronx. Urban Edge Properties acquired the 116,000-square-foot property for $32 million. Forest City owned the property in a 51/49 percent joint venture with Madison International Realty.
READVILLE, MASS. — CBRE/New England has arranged $11 million in acquisition and capital improvement financing for Boston Business Park – Building 200, a 205,061-square-foot industrial building located at 100 Meadow Road in Readville. John Kelly, Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE secured the financing for the borrower, a joint venture between Wallace Property and GFI Partners. Boston Business Park is the future home to M.S. Walker, ABEX Transportation and Katsiroubas Bros. Current tenants include HD Supply, The Ride, Gentle Giant Moving and MFI Tire Wholesale.
NORWICH, CONN. — Griffin-American Healthcare REIT III has acquired a two-building medical office portfolio in Norwich for $15.6 million. Totaling 56,265 square feet, the portfolio includes Wawecus Medical Center and a building located at 105 Wawecus St. Yale Cardiovascular, Eastern Connecticut Endoscopy, Connecticut GI and Norwich Ophthalmology occupy the portfolio. Lisa Menin of Jacobson Properties and John LaBella of RE/MAX Right Choice brokered the transaction. The name of the seller was not released.
DOUGLASSVILLE, FLEETWOOD AND EPHRATA, PA. — Senior Living Investment Brokerage has arranged the sale of Keystone Villa, a portfolio of seniors housing properties in the northwestern Philadelphia suburbs of Douglassville, Fleetwood and Ephrata. Capital Health Group, a seniors housing private equity firm, purchased the properties for an undisclosed price. The seller was a private ownership group that originally developed and operated the properties, but was looking to exit the seniors housing industry. Keystone Villa totals 509 units of Class A independent living, assisted living and memory care. The properties were built in phases between 2004 and 2014. Following the sale, Milestone Retirement Communities LLC will manage the portfolio. Bradley Clousing, Toby Siefert and Jeff Binder of Senior Living Investment Brokerage negotiated the transaction.
NEW JERSEY — Walker & Dunlop has structured a $28.4 million loan for Valstone Partners. The transaction consists of a U.S. Department of Housing and Urban Development portfolio backed by 14 cottage-style memory care properties located across New Jersey. Kevin Giusti and Michael Vaughn of Walker & Dunlop arranged the 35-year, fixed-rate loan, which was structured as a 232/223(f) Health Care Facility refinance with an 80 percent loan to value. Loan proceeds were used to refinance 12 of the properties and acquire and refinance two properties.
LITTLETON, MASS. — SVN|Parsons Commercial Group|Boston has brokered the sale of a high-tech office building located at 305 Foster St. in Littleton. Foster Street Acquisitions sold the building to 2641-2651 Santa Anna Avenue LLC for $4.4 million. Situated on 10.3 acres, the building offers 80,064 square feet of office space for high-tech and R&D tenants. At the time of sale, the property was more than 80 percent occupied. Marci Alvarado, Jake Parsons and Marilyn Santiago of SVN|Parsons represented the seller in the transaction.
STAMFORD, CONN. — J. Philip Commercial Group Brokerage has arranged the sale of an industrial building located at 184 Selleck St. in Stamford. Dr. Philip Putter of Spot On Veterinary acquired the building from Tom Anderson and John Savage of Hathaway, Reiser & Raymond for $2.3 million. The buyer will use the 16,000-square-foot building for his Spot On Veterinary practice. Fritz Chery of J. Philip Commercial represented the seller and buyer in the deal.
PHILADELPHIA — Marcus & Millichap has brokered the sale of a two-building mixed-use property located at 4343-4345 Main St. in Philadelphia’s Manayunk neighborhood. An undisclosed buyer acquired the property for $2 million, or $231,666 per unit. The asset features eight studio, one- and two-bedroom apartments and one retail unit, which is leased to Chabaa Thai and Binto. Phil Sharrow and Jonathan Massaro of Marcus & Millichap represented the undisclosed seller and secured the buyer. Additionally, Sharrow and Massaro worked with Matthew Rosenberg of Marcus & Millichap Capital Corp. to arrange a 10-year acquisition loan for the buyer.
PLAINFIELD, CONN. — Tomasso Group has completed the disposition of Medical Arts Center at The Hartford Healthcare Cancer Institute, located at 201 N. Mountain Road in Plainfield. A publicly traded REIT acquired the property for $30.2 million. At the time of sale, the 72,022-square-foot property was 95 percent leased to Hartford Healthcare, Orthopedic Associates of Hartford and a variety of Hartford Healthcare-employed physicians. Ben Appel, Phil Mahler, Evan Kovac and Doug Rodio of HFF represented the seller in the transaction. Tunxis Management Co., an affiliate of Tomasso Group, will continue to manage the property.
