NEW YORK CITY — Paramount Group has completed a $1 billion refinancing of 1633 Broadway, a 2.6 million-square-foot office building in Manhattan. The seven-year loan is interest only at LIBOR plus 175 basis points and can be increased by $250 million to a total $1.25 billion. The proceeds from the loan were used to repay existing $926 million loan and fund $42 million of swap breakage costs. Landesbank Banden-Württemberg New York Branch, Landesbank Hessen-Thüringen Girozentrale, DekaBank Deutsche Girozentrale, ING Capital and Wells Fargo Securities served as joint lead arrangers for the loan. Landesbank Banden-Württemberg New York Branch will serve as administrative agent and Wells Fargo National Association will serve as syndication agent. Eastdil Secured arranged the financing for the borrower.
FISHKILL, N.Y. — TGM Associates has sold TGM Village at Merritt Park to New York City-based Hampshire Properties for an undisclosed sum. Located at 80 Jefferson Blvd. in Fishkill, the property features 360 apartment units in a mix of one-, two- and three-bedroom floor plans ranging from 754 square feet to 1,328 square feet. Brian Whitmer of Cushman & Wakefield brokered the transaction. TGM originally purchased the property in 2006.
NEW YORK CITY — H&M, a global fashion retailer, is opening its first location in Lower Manhattan. Situated within Westfield World Trade Center, the 25,000-square-foot store is slated to open in spring 2016. This location will be the first store in the United States to apply for LEED certification. The interior of the store will operate on renewable power sources, use less energy than a conventional office building, utilize LED lighting and Energy Star equipment and implement a recycling program throughout the store. The Westfield World Trade Center location is H&M’s 18th store in New York City.
NEW YORK CITY — Houlihan-Parnes Realtors has arranged a $3.5 million first mortgage loan for the refinancing of a 10,000-square-foot retail building located at 172-178 Dyckman St. within Manhattan’s Inwood district. The seven-year, non-recourse loan features a 3.75 percent fixed interest rate with interest-only payments for two years and a 30-year amortization schedule. Additionally, the undisclosed borrower has an option to extend the loan for an additional five years. Bryan Houlihan and Mike O’Neill of Houlihan-Parnes Realtors secured the loan for the borrower. Christie Houlihan of Zukerman Gore Brandeis & Crossman LLP provided legal counsel for the borrower.
MILFORD, CONN. — Cushman & Wakefield has brokered three new leases, totaling 48,525 square feet, at Crown Corporate Campus, located at 470, 472, 476, 478 and 488 Wheelers Farm Road in Milford. SurgiQuest Inc., a surgical device company, leased 40,542 square feet at 488 Wheeler Farm Road; The Berry Company, a provider of local online, search, video and directory solutions, leased 7,781 square feet at 488 Wheelers Farm Road; and Boys & Girls Village, a nonprofit agency specializing in children with special educational needs, children in crisis or children with learning difficulties, leased 2,002 square feet at 472 Wheelers Farm Road. Situated on 47 acres, Crown Corporate Campus is a five-building, 425,000-square-foot office campus. Kevin Foley, Mike Dillon and Will Mercorella of Cushman & Wakefield represented the landlord, Crown Milford LLC, a division of Crown Properties, in the three deals. Dave Hansen and Matt O’Hare of CBRE represented SurgiQuest; Sean O’Neill of JLL represented The Berry Company; and Marie Pelaccia of First Equity Real Estate represented Boys & Girls Village in the transactions.
PISCATAWAY, N.J. — A partnership between The KRE Group, Oxford Realty Group and Blue Vista Capital Management has acquired Royal Gardens Apartments, located at 3060 New Brunswick Ave. in Piscataway, for $107.2 million. Situated on 36 acres, the 550-unit property features 258 one-bedroom apartments and 292 two-bedroom units. The partnership plans to install additional amenities and property improvements at the community, including an outdoor swimming pool. The property was 96 percent occupied at the time of sale. Joseph Brecher of Gebroe-Hammer Associates represented the seller in the transaction.
BOSTON — EagleBridge Capital has arranged $20.5 million in construction/permanent financing for an apartment complex located at 61-83 Braintree St. in Boston’s Allston neighborhood. The borrower is a joint venture between The Grossman Companies and Waypoint Cos. The apartment building will feature 80 studio, one-, two- and three-bedroom rental units and ground-floor commercial space. Additionally, the property will feature a rooftop deck, fitness center, bicycle storage and 68 parking spaces. Ted Sidel and Brian Sheehan of EagleBridge Capital secured the financing for the borrowers.
BRIDGEPORT, CONN. — Bass Pro Shops has opened its first Connecticut location at Steelpointe Harbor, a 2 million-square-foot mixed-use property in Bridgeport. The 150,000-square-foot store features Uncle Buck’s Fish Bowl and Grill restaurant; Black Widow Billiards parlor with two tournament pool tables; a 12-lane bowling alley; an archery range; and an aquarium. Steelpointe Harbor, a 50-acre, $750 million project, is being developed by Bridgeport Landing Development, a subsidiary of The RCI Group.
BOSTON — Boston-headquartered Sperry Van Ness International Corp. has changed its signature brand name to SVN. The Sperry Van Ness brand was launched in 1987 and became a national franchise operation in 2003. This year, SVN has added 25 offices nationally and internationally, bringing the company’s portfolio to more than 1,400 advisors and staff in nearly 200 offices worldwide. The SVN brand name and new logo will roll out globally over the next 12 to 18 months.
VOORHEES, N.J. —Comcast Corp. has expanded its lease at Voorhees Technology Center, located at 401 White Horse Road in Voorhees, by 42,000 square feet. This expansion brings the company’s footprint to more than 150,000 square feet at the 215,000-square-foot building. Brian Sherlock and Evan Zweben of Colliers International represented the landlord, while Marc Policarpo and Bob Corr of Binswanger represented Comcast in the transaction.