NEW BRITAIN, CONN., AND POUGHKEEPSIE, N.Y. — Cronheim Mortgage has arranged two loans totaling $9.5 million for two retail properties in New Britain and Poughkeepsie. Andrew Stewart and Dev Morris of Cronheim secured both 10-year loans, which feature a 4.22 percent fixed rate and 25-year amortization schedule. The loans were placed with Fidelity & Guaranty Life Insurance Co. In New Britain, an undisclosed borrower received $3.5 million in financing for Brittany West Plaza, a 39,438-square-foot retail property. The property is currently 100 percent leased to a variety of national and regional tenants, including Subway, TD Bank, Hair Cuttery, Gloria’s Nails and Arthur Murray Dance Studio. In Poughkeepsie, an undisclosed borrower received $6 million in financing for Poughkeepsie Plaza, a 170,966-square-foot community shopping center. Originally constructed in 1958, the property was partially enclosed in 1978, with various additions from 1983 to 2004.
NEW YORK CITY — MHP Real Estate Services, in a partnership with HNA Property Holdings, has acquired 850 Third Avenue, a 617,000-square-foot office building in New York. Shorenstein Properties sold the 21-story building in an off-market transaction. MHP will serve as the operating partner of the joint venture, with HNA serving as majority partner. Morgan Stanley provided approximately $238 million in financing for MHP in the transaction, according to The Real Deal. The financing consists of a $210 million acquisition loan, a $17 million building loan, a $465,000 project loan and $10 million in debt transferred from the seller. The building, located between East 51st and 52nd streets, marks the second joint venture between MHP and HNA, with the partnership now owning more than 1 million square feet of office space. HNA will set up its U.S. headquarters at the property. Other tenants include Discovery Communications, Radio One and the City of New York. “The Midtown East office market is experiencing an extraordinary renaissance that will further redefine the city and reshape a time-tested enclave of New York business,” says Norman Sturner, CEO of MHP Real Estate Services. “The East Side rezoning efforts, along with the area’s existing transportation infrastructure and addition of the Second …
NEW YORK CITY — Akelius Residential Property AB has acquired a six-building multifamily property in Brooklyn’s Clinton Hill for $57 million. Built in 1930, the asset features 86 apartment units. The name of the seller was not released. With this transaction, Akelius now owns 1,013 apartments in New York City.
BOSTON — Brookfield Property Partners, in conjunction with AustralianSuper Pty., has acquired an office building located at 15 Broad St. in downtown Boston. Broder sold the 10-story, 73,500-square-foot office property for $33 million. Dave Pergola and Brian Doherty of CBRE/New England represented the seller and procured the buyer in the transaction.
ROCKLAND, MASS. — Hilton Worldwide has open DoubleTree by Hilton Boston-Rockland, located at 929 Hingham St. in Rockland on Massachusetts’ South Shore. Located 21 miles south of Boston Logan International Airport, the hotel features 127 guest rooms, 24-hour room service, a fitness center, business center and an outdoor heated pool. Additionally, the property offers 4,000 square feet of meeting space. Formerly a Holiday Inn, the hotel is owned and managed by Linchris Hotel Corp.
SADDLE BROOK, N.J. — NAI James E. Hanson has arranged the sale of a medical office building located at 190 Midland Ave. in Saddle Brook. Brook Development LLC sold the 18,140-square-foot property to a private buyer for an undisclosed price. The two-story building houses three operating rooms and a Joint Commission on Accreditation of Healthcare Organizations outpatient surgical center. Additionally, the facility is outfitted with fiber optic cables, integrated services digital network Internet access and ample covered parking. Darren Lizzack, Randy Horning and Hal Messer of NAI Hanson represented the seller and buyer in the transaction.
NEW YORK CITY — TerraCRG has arranged the sale of a multifamily building located at 82 16th St. in the Park Slope/Gowanus neighborhood of Brooklyn. The asset sold for $3.5 million, or $572 per square foot. The four-story, 6,240-square-foot property features 16 rent-stabilized apartment units. Adam Hess, Eddie Setton and Kirill Galperin of TerraCRG were the sole brokers in the transaction. The names of the seller and buyer were not released.
NEW YORK CITY — Anbau Enterprises has acquired three contiguous multifamily buildings located at 50-58 E. Third St. in Manhattan’s East Village for $58 million. The three-building portfolio features 71 rental units and totals more than 52,000 gross square feet. The name of the seller was not released.
CAMBRIDGE, MASS. — Griffith Properties and Artemis Real Estate Partners have received $30.3 million in refinancing for an office building located at 10 Fawcett St. in Cambridge. Greg LaBine and Porter Terry of HFF arranged the three-year, floating-rate loan through Eastern Bank for the borrowers. Renovated in 2011, the six-story 134,561-square-foot building is fully leased to multiple tenants, including General Services Administration, Raytheon BBN Technologies and Accion International.
LOWELL, MASS. — CBRE/New England has secured a $23.5 million first mortgage loan to refinance the existing debt on Cabot Crossing, a multifamily property located in Lowell. The borrower is Taurus CD 165 Bowden Street MA LP, an affiliate of Taurus Investment Holdings and PhilMor Real Estate Investments. The owner originally acquired the property in 2013 and implemented a successful unit upgrade and capital improvement plan. Located at 130 Bowden St., the multifamily community features 252 apartment units in a mix of 28 studio units, 168 one-bedroom layouts and 56 two-bedroom units. On-site amenities include a clubhouse with multi-station exercise room, TV lounge, saunas, Jacuzzi, locker rooms, outdoor swimming pool and picnic areas. John Kelly and Sam Dylag of CBRE/NE Multifamily Debt & Structured Finance arranged the financing for the borrower.