STAMFORD, CONN. — TGM Associates L.P. has sold the 160-unit apartment project TGM Village at Stamford to Cherry Hill, N.J.-based Silverman Group. Jeffrey Dunne and Gene Pride of CBRE Group Inc. brokered the transaction for the property, which is located in downtown Stamford. TGM purchased Village at Stamford in 2008. Terms of the transaction were not disclosed.
BELLEVILLE, N.J. — Tulfra Real Estate and Hampshire Cos. have completed their acquisition of the former Roche Diagnostics property, a 20-acre parcel at Franklin Avenue and Mill Street in Belleville. The partners plan to redevelop the site and are in the process of considering redevelopment options and plans for the property. The Township of Belleville has conditionally designated Tulfra as the redeveloper of the site under the state’s redevelopment laws. Tulfra Real Estate and its affiliates currently own and manage 4 million square feet of industrial and commercial real estate, encompassing more than 50 buildings with 200 public and private tenants in Northern and Central New Jersey.
NEW YORK CITY — J.D. Carlisle Development Corp., in partnership with DLJ Real Estate Capital Partners and Mitsui Fudosan America Inc., has launched leasing at One Sixty Madison, a new residential tower located in NoMad, at the nexus of Chelsea, Gramercy and Midtown. Designed by SLCE Architects, the 45-story octagonal building features 319 rental residences in a mix of studios, one- and two-bedroom homes. The interior spaces, which were designed by Philip Koether Architects, feature floor-to-ceiling windows, oak floors and panoramic views. On-site amenities include the Three Sixty Lounge atop the building, an indoor fireplace, two expansive rooftop terraces, a 14,000-square-foot Park Lounge, a fitness center, valet and concierge services, bicycle storage and a fully attended lobby.
PITTSBURGH — Laurus Corp. has acquired the DoubleTree by Hilton Hotel – Green Tree in Pittsburgh for an undisclosed price. The 460-room property recently underwent a $20 million top-to-bottom makeover and Laurus plans to invest $7 million to improve customer experience at the hotel by enhancing operations, delivering top-tier culinary experiences across the hotel’s existing restaurants and opening Asado Grill restaurant. The hotel features 40,000 square feet of flexible, multi-functional meeting space and a 13,000-square-foot indoor athletic training center. The hotel will be managed by TPG Hospitality. The name of the seller was not disclosed.
BOSTON — The Davis Companies (TDC) has completed the disposition of Tower Point, a brick-and-beam office building located at 27-43 Woodworm St. in Boston’s Seaport District. Rockpoint Group purchased the 155,170-square-foot property for $62.1 million. TDC originally acquired the property in 2013 and invested significant capital with the goal of increasing the building’s appeal to creative and tech sectors. The company upgraded the property with modern finishes, renovated the building’s fitness center and locker rooms and added a 7,500-square-foot outdoor courtyard. As a result of the repositioning, the building’s occupancy increased from 74.3 percent to 95 percent at the time of sale. Current tenants include Rethink Robotics, Healthways, NPR, Zerto and Owner IQ. Edward Maher Jr. of Newmark Grubb Knight Frank represented TDC in the transaction.
MINEOLA, N.Y. — Cushman & Wakefield has brokered the sale of Century Plaza, an office building located at 330 Old Country Road in Mineola on Long Island. TIAA-CREF sold the 115,000-square-foot office property to Lalezarian Properties for an undisclosed price. Originally built in 1990 and renovated in 2009, the three-story property features 475 covered parking spaces. At the time of sale, the property was 95 percent leased to a variety of tenants, including Oracle America Inc., Did-it.com, Liberty Mutual Insurance, Veritext Corp., Nationwide Mutual Insurance, and Kelly, Rode & Kelly LLP. Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Andrew MacDonald of Cushman & Wakefield represented the seller and procured the buyer in the transaction.
CHAMBERSBURGH BOROUGH, YORK CITY AND MANCHESTER TOWNSHIP, PA. — ROCK Commercial has arranged three separate sales, totaling 46,187 square feet, in Pennsylvania. In the first transaction, Home Again Concepts purchased a 32,437-square-foot industrial building located at 77 N. Third St. in Chambersburgh Borough for an undisclosed sum. ROCK represented the undisclosed seller in the transaction. In the second deal, Beartrap Enterprises LLC acquired a 9,012-square-foot office building located at 274-280 W. Market St. in York City for an undisclosed price. ROCK represented the buyer and undisclosed seller in the transaction. In the final deal, Michelle Kreeger purchased a 4,738-square-foot office building located at 2241 W. Market St. in Manchester Township for an undisclosed price. ROCK represented the seller, whose name was not released, in the deal.
WALTHAM, MASS. — The Davis Companies has acquired two Class A office buildings, located at 1025 and 1075 Main St. in Waltham. An affiliate of KBS Real Estate Investment Trust Inc. sold the 303,460-square-foot asset for $52.5 million. Originally built in 1980, the property is currently occupied by Citizens Disability and The Cambridge Institute of International Education. On-site amenities include a cafeteria, fitness center and parking. HFF represented the seller and procured the buyer in the transaction. Additionally, HFF arranged a seven-year acquisition loan for the buyer through Brookline Savings Bank and First Niagara Bank. Coleman Benedict and Ben Sayles of HFF represented the seller in the deal. Riaz Cassum and Brett Paulsrud, also of HFF, led the HFF debt placement team for the financing. Gramercy Property Trust, as asset manager, advised KBS on the transaction.
LATHAM, N.Y. — Berkadia has closed a $15.4 million refinancing loan for Latham Crossing, a retail property located in Latham. The 10-year, fixed-rate loan, which was provided by a conduit lender, features a 30-year amortization schedule with 2 years of interest-only payments, a 75 percent loan-to-value ratio and 1.25 times debt-service coverage. Located at 609 Troy Schenectady Road, the 100,000-square-foot center is fully occupied by a variety of tenants, including PetSmart and Staples. John DiCrocco of Berkadia’s New York City office arranged the financing for the undisclosed borrower.
MELVILLE, N.Y. — NorthMarq Capital has arranged $10.8 million in refinancing for a 111,700-square-foot office building located at 425 Broad Hollow Road in Melville. The five-year loan features a 30-year amortization schedule. Ernest DesRochers and Charles Cotsalas of NorthMarq arranged the financing through a national bank for the undisclosed borrower.
