MANCHESTER, N.H. — Berkadia has arranged $37.5 million in financing for Countryside Village, a multifamily property located at 60 Village Circle Way in Manchester. Jeff Heath of Berkadia originated the loan through Fannie Mae for the borrower, Merion Realty Partners. The permanent acquisition loan features an 80 percent loan-to-value ratio and a 4 percent interest rate. Situated on 40 acres, the 448-unit property features resort-style amenities.
EAST HARTFORD, CONN. — Farmington Hills, Mich.-based RHP Properties has acquired two manufactured home communities located in East Hartford for an undisclosed price. The 263-site Rivermead Manufacturing Home Community and the 199-site Colonial Manufactured Home Community are all-age communities, with a focus on senior residents. With this acquisition RHP Properties now owns and operates 30 manufactured home communities with more than 1,200 sites in New England.
MANALAPAN, N.J. — FM Capital has acquired the non-performing loan for the Century Office park in Manalapan. The property has an unpaid principal balance of roughly $6.2 million, and the debt is secured by a 77,706 square feet of office space. Situated on 6.7 acres, the three-building office park was built in 1976, 1978 and 1979. Additional terms of the transaction were not disclosed.
WEST CHESTER, PA. — Colliers International has arranged the acquisition of an industrial facility located within Birch Run Industrial Park at 16 Hagerty Blvd. in West Chester. Turf Equipment and Supply Co. purchased the property for $2.8 million. The buyer will relocate to the property from Kennett Square, Pa., and occupy 21,670 square feet of the facility, which was the former home of VF Technologies. The remainder of the 35,150-square-foot building is fully occupied by professional services tenants. Larry Bergen of Colliers represented the buyer, while Steve Italiano of Italiano Commercial Real Estate Services represented the seller in the deal.
NEW YORK CITY — XIN Development International has acquired the iconic RKO Keith’s Theater, located at 135-35 Northern Blvd. in the Flushing neighborhood of Queens. JK Equities sold the property in an all-cash transaction valued at $65.8 million. The property features fully approved and permitted plans for an approximately 389,746-square-foot mixed-use project featuring residential, retail and community facility components. Bob Knakal, Stephen Preuss and Jonathan Hageman of Cushman & Wakefield represented the seller, while Albert Benalloul of RLTY NYC represented the buyer.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use property located at 477 Amsterdam Ave. in Manhattan’s Upper West Side. Herliem Amsterdam LLC acquired the five-story, 9,500-square-foot property from 477 Amsterdam Avenue for $17.1 million, or $1,800 per square foot. The building features eight residential apartments and two commercial units. Hall Oster, Teddy Galligan and Bryan Smadbeck of Cushman & Wakefield represented the seller, while Dylan Pichulik of XL Real Property Management represented the buyer in the deal.
LANSDOWNE, PA. — CBRE has arranged the sale of a retail property located at 2 W. Baltimore Ave. in Lansdowne. Moreland Development LLC sold the property to an undisclosed buyer for $9.5 million, or $643 per square foot. Converted from a historic bank branch in 2016, the 14,800-square-foot property is occupied by Walgreens. Matthew Gorman, Michael Shover, Marc Mandel and Stephen Schrenk of CBRE represented the seller in the transaction.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a development site located at 21 Powers St. in the Williamsburg section of Brooklyn. Powers 21 LLC acquired the site from 21 Powers LLC for $5.7 million, or $428 per square foot. A one-story warehouse occupied the site, which features 13,438 buildable square feet. Scott Burk and Jacob Tzfanya of Eastern Consolidated represented the seller, while Chad Sinsheimer of Eastern Consolidated represented the buyer in the deal.
BRONXVILLE, N.Y. — Houlihan-Parnes Realtors has arranged a $2.9 million first mortgage loan for a retail property located at 10-24 Palmer Ave. in Bronxville. The three-story, 23,600-square-foot property features five retail stores with 100 feet of frontage on Palmer Avenue and an auto repair shop on Paxton Avenue. The loan, which was provided by a savings bank, features a 12-year term at a seven-year, 3.47 percent fixed-interest rate and a 30-year amortization schedule. Jeremiah Houlihan of Houlihan-Parnes Realtors secured the financing for the undisclosed borrower.
NEW YORK CITY — Allianz Real Estate has acquired a 44 percent stake — an investment of approximately $420 million — in 10 Hudson Yards, located on Manhattan’s west side. The tower is the first building completed in Related Cos. and Oxford Properties Group’s mixed-use Hudson Yards development. A limited partnership that includes Allianz, Related Cos., Oxford and institutional investors advised by J.P. Morgan Asset Management now own the property. 10 Hudson Yards is 94 percent leased to a variety of tenants, including Coach, L’Oreal USA, SAP and Boston Consulting Group. The planned mixed-use development will feature more than 17 million square feet of commercial and residential space, with more than 100 shops, a collection of restaurants, approximately 4,000 residences, cultural space, 14 acres of public open space and a 750-seat public school. Paul Meyer of Mayer Brown provided legal counsel to Allianz on the transaction.