Northeast

Joint Partnership to Open Riverrun Luxury Apartments in August

by Amy Works July 22, 2015

WINOOSKI, VT. — Nedde Real Estate, Redstone and Youkel Architecture + Development have completed the development of Riverrun Luxury Apartments in Winooski, with a ribbon cutting ceremony scheduled for Thursday, August 13. Located at 110 Winooski Falls Way, the property consists of 56 units in a mix of one- and two-bedroom layouts. The apartments feature nine-foot ceilings; river, city and nature preserve views; energy-efficient, triple-glazed windows; designer kitchens; washer/dryers; and air conditioning. On-site amenities include a fitness center, lobby with seating lounge, covered parking and heat/hot water included in the rent.

July 22, 2015

Connecticut Healthcare Loans Northeast Office

Fantini & Gorga Arranges $12.9M Loan for Two Medical Office Buildings in Connecticut

by Amy Works July 22, 2015

HAMDEN, CONN. — Fantini & Gorga has arranged $12.9 million in first mortgage permanent financing for two medical office buildings in Hamden, a city in southeast Connecticut. Totaling 65,216 square feet, the properties are fully leased and occupied by regional and local medical practices. Casimir Groblewski of Fantini & Gorga arranged the refinancing with a major securitization lender for the borrower, a New England-based real estate developer and investor.

July 22, 2015

New York Northeast Retail

Adidas Signs 5,218 SF Retail Lease in Manhattan

by Amy Works July 22, 2015

NEW YORK CITY — SL Green Realty Corp. has inked a 10-year lease with Adidas to occupy retail space at its 115 Spring St. property in Manhattan. The two-level, 5,218-square-foot space will be the new home of Adidas’s Originals boutique. SL Green acquired the retail property in 2014. Jeremy Ezra of RKF represented the tenant, while Ariel Schuster and Ross Berkowitz, also of RKF, represented the landlord in the transaction.

July 22, 2015

Market Reports New Hampshire Northeast Northeast Market Reports Office

Reurbanization and Live/Stay/Play Making their Way to Southern New Hampshire

by Jaime Lackey July 22, 2015

After a lackluster first quarter, the Southern New Hampshire office sector is showing strong potential as we head into the heart of 2015 and as the recovery that is firmly entrenched in major hubs like Boston begins to make its way to secondary markets. Notably, the trend toward reurbanization and the growing popularity of live/stay/play opportunities are driving activity in Portsmouth and promise to bolster activity in lagging submarkets like Manchester and Nashua. As companies increasingly gravitate to downtown locations, Portsmouth is seeing steady demand. In fact, its 3 million-square-foot office inventory boasts the lowest vacancy rate (11 percent) and highest average asking rents ($20.31 per square foot) of the six New Hampshire office submarkets tracked by Cushman & Wakefield. This vibrant seacoast city is the first New Hampshire market supporting speculative construction. Farley White built the 67,000-square-foot North Wing addition to 100 Arboretum Drive, bringing the building’s total to approximately 127,000 square feet. Our team serves as leasing agent for the property, where multiple deals are in the pipeline. At 249 Corporate Drive, the Katz Co. is building a 37,000-square-foot building and recently leased a significant portion of the space to Loftware Inc. Renovation, redevelopment and repurposing of older …

July 22, 2015

Loans Multifamily New York Northeast

Greystone Bassuk Closes $254M Construction-to-Perm Loan Facility for BLDG

by Amy Works July 21, 2015

NEW YORK CITY — Greystone Bassuk has closed a $254 million construction-to-perm financing facility with Bank of China’s New York Branch on behalf of an affiliate of BLDG Management Co. The facility was structured as a letter of credit providing credit enhancement to support tax-exempt and taxable variable-rate bonds issued under the New York State Housing Financing (HFA) 80/20 Housing Program. The financing consists of $26 million of 2015 Series A tax-exempt bonds; $23.3 million of 2016 Series A tax-exempt bonds; $125 million of 2016 Series B taxable bonds; and $76.9 million of 2017 Series A taxable bonds providing fund for the construction of 222 E. 44th Street in New York. The project will consist of a 43-story multifamily apartment tower with 441,000 gross square feet and 429 residential units, of which 87 units will be affordable housing. On-site amenities will include concierge and valet services, a penthouse roof deck and lounge, sundeck and barbeque area, indoor swimming pool, resident lounge, golf simulator, children’s playroom, fitness center with indoor basketball court, and bike and tenant storage. Drew Fletcher, Matthew Klauer and Evelyn Savino of Greystone Bassuk secured the financing for the borrower.

July 21, 2015

Massachusetts Northeast Retail

Cushman & Wakefield Brokers Sale of Highlands Plaza in Massachusetts

by Amy Works July 21, 2015

EASTON, MASS. — Cushman & Wakefield has brokered the sale of Highlands Plaza, a retail property in Easton. Ohio-based Phillips Edison & Co. acquired the 112,869-square-foot property for an undisclosed price. At the time of acquisition, the Hannaford-anchored shopping center was 94 percent occupied. Robert Griffin, Geoffrey Millerd and Justin Smith of Cushman & Wakefield represented the seller, Boston-based Samuels & Associates.

July 21, 2015

Loans New York Northeast Retail

Madison Realty Capital Provides $9M Loan for Acquisition, Construction of Retail Property

by Amy Works July 21, 2015

NEW YORK CITY — Madison Realty Capital has provided a $9 million loan for the acquisition and construction of a development site at 232 Smith St. in Brooklyn’s Boerum Hill neighborhood. The borrower, a local developer, plans to build a 15,000-square-foot, three-level retail building on the site. Construction on the pre-leased building is slated to start this fall with completion scheduled for summer 2016. A single retail tenant will occupy the entire property.

July 21, 2015

New York Northeast Retail

Picone Construction Begins Renovation of Early Childhood Center in Buffalo

by Amy Works July 21, 2015

BUFFALO, N.Y. — Picone Construction has started renovation work on the Stanley M. Makowski Early Childhood Center, located at 1095 Jefferson Ave. in Buffalo. The renovation project includes select demolition, concrete and asphalt paving, doors, frames and hardware, acoustical ceiling panels, tile flooring, athletic flooring and tile carpeting. Additional renovations include painting, electrical, plumbing, gymnasium equipment, climbing wall system, playground equipment, and an artificial turf playground surfacing system. Construction is slated for completion by the end of September. Kideney Architects is providing architectural services for the project.

July 21, 2015

Connecticut Northeast Retail

Cumberland Farms Buys 1.3-Acre Land Parcel in Connecticut

by Amy Works July 21, 2015

ROCKY HILL, CONN. — Cumberland Farms has acquired a 1.3-acre land parcel at the corner of Cromwell Avenue and France Street in Rocky Hill. The property was acquired from Rue de France LLC and 741 Cromwell Ave. LLC, both subsidiaries of Wethersfield, Conn.-based New England Realty Properties, for an undisclosed price. Massachusetts-based Cumberland Farms is a convenience store chain that operates 600 stores in 11 states. The stores offer any-size coffee for 99 cents, competitively priced gasoline, freshly prepared hot sandwiches, a shake machine and no-fee ATMs.

July 21, 2015

Loans Multifamily New York Northeast Seniors Housing

Red Capital Partners Provides $36.5M Acquisition Loan for Skilled Nursing Facility

by Amy Works July 20, 2015

SYRACUSE, N.Y. — Red Capital Partners has provided a $36.5 million balance sheet acquisition loan to Investment360 for the purchase of James Square Health and Rehabilitation Centre in Syracuse. Excelerate Healthcare will operate the 440-bed skilled nursing facility as part of a long-term lease agreement with Investment360. Kathryn Burton Gray and James Scribner of Red Capital Partners arranged the financing for the borrower.

July 20, 2015

Newer Posts

Older Posts