NEW YORK CITY — Walker & Dunlop Commercial Property Funding has closed a $17.5 million loan for the acquisition and repositioning of a multifamily property located at 916-926 Southern Blvd. in the Bronx. The short-term high-yield bridge loan was used to fund the acquisition, as well as reserves related to capital improvements and operating shortfalls. Geoff Smith and Tom Toland of Walker & Dunlop originated the deal with Gold Edge Capital. Built in 1911, Southern Boulevard features two adjacent buildings totaling 66 multifamily units. The property will be transformed into 105 units of revitalized, market-rate multifamily housing and 12,333 square feet of ground-floor retail space.
MEDFORD, MASS. — CBRE/New England’s Capital Markets team has arranged the sale of Lumiere, an infill apartment community located in Medford. An affiliate of The Guardian Life Insurance Company of America acquired the multifamily property from MV Parkways Partners, a joint venture between Criterion Property Co. and an affiliate of AIG Global Real Estate, for an undisclosed price. Opened in September 2014, the property features 33 studios, 76 one-bedroom apartments, 53 two-bedroom apartments, and a 4,600-square-foot Lookout Lounge, including a game room, kitchen and 24-hour fitness center. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer in the sale.
MIDDLETOWN, CONN. — Cornerstone Realty Capital has arranged $2.9 million in financing for the acquisition of a mixed-use property in Middletown. The office and retail property consists of five buildings totaling 47,250 square feet. Additionally, the property features 104 parking spaces. The name of the borrower was not released.
NEW YORK CITY — Kalmon Dolgin Affiliates has brokered the sale of commercial building located at 5718 Second Ave. in Brooklyn’s Sunset Park neighborhood. NYU/Lutheran Medical Center acquired the 32,000-square-foot property from S.I.B.R. Realty LLC for $12.1 million. The two-story building features 20-foot ceilings, a 7,000-square-foot mezzanine and 12,500-square-foot floor plates. Jeffrey Unger and Robert Klein of Kalmon Dolgin represented the buyer and seller in the deal.
SOUTH HACKENSACK, N.J. — NAI James E. Hanson has arranged the sale of an industrial building located at 60 Romanelli Ave. in South Hackensack. Main Event-Mauzone Caterers acquired the 21,500-square-foot property from 60 Romanelli LLC for an undisclosed price. The buyer is relocating from Englewood, N.J., and plans to use the space for a commercial kitchen. The property features 14-foot ceiling heights, one loading dock, two drive-in doors, 17 private parking spaces and 2,800 square feet of office space. Tom Vetter and Jeff DeMagistris of NAI Hanson represented the seller in the deal.
HARTFORD, CONN. — Eastern Union Funding has arranged $4.5 million in acquisition financing on two neighboring multifamily properties in Hartford for borrower Aria Legacy Group, a privately held fully integrated real estate firm. The properties include a 70-unit building at 37 Charter Oak Place and a 10-unit building with two ground-floor retail spaces at 29 Charter Oak Ave. Joshua Novoseller and Adelle Ross of Eastern Union secured the loan through CBRE Capital Markets.
NEW YORK CITY — The Ministry of Foreign Affairs of the Czech Republic has selected Fradkin & McAlpin Architects, in collaboration with Czech firm A69 Architekti, to redesign the 35,000-square-foot Czech Mission to the United Nations, located at 1109 Madison Ave. in New York’s Carnegie Hill Historic District. The project will include a gut-renovation of the interior and the creation of new living spaces, offices and meeting space for the staff of the mission. Construction is slated to begin in the fall of 2017. The building was originally built in 1898 as luxury apartments and features a Beaux Arts exterior.
NEW YORK CITY — Ameriprise Financial Inc. has signed a full-floor lease for the 78th floor of One World Trade Center in Lower Manhattan. The company plans to move its New York-based executive office space from its current location to 37,704 square feet at One World Trade Center during the second quarter of 2017. Eric Engelhardt and Karen Kuznick provided in-house represented for the The Durst Organization, along with Tara Stacom, Justin Royce, Barry Zeller, Connor Daugstrup and Peter Trivelas of Cushman & Wakefield. Ameriprise was represented by Josh Kuriloff, Drew Braver and Frank Cento of Cushman & Wakefield. With this lease, the property is now 69 percent leased.
ISELIN, N.J. — Cushman & Wakefield has arranged the sale of Metro 101, an office tower located at 101 Wood Ave. S. in Iselin. Mack-Cali Realty Corp. acquired the 10-story property from Spear Street Capital for $82.3 million. Developed in 1990, the 263,000-square-foot tower was redeveloped in 2008 for multi-tenant occupancy. At the time of sale, the building was 95 percent occupied. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt of Cushman & Wakefield brokered the transaction.
ALBANY, N.Y. — Easterly Government Properties has agreed to acquire FBI – Albany, a build-to-suit property located in Albany, for $20.2 million. Completed in 1998, the 98,184-square-foot facility is 100 percent leased through 2018 to the U.S. General Services Administration on behalf of the FBI. FBI – Albany is one of the two field offices located in New York with a territory encompassing 32 counties in Upstate New York and 14 counties in Vermont. The property offers a variety of security features, including 100-foot setbacks, reinforced security fencing and hydraulic vehicle barricades, blast resistant envelope and window features, and intrusion detection systems. The acquisition is slated to close in the fourth quarter. The name of the seller was not released.