HARTFORD, CONN. — Colliers International has secured a $3.9 million loan for Colonial Court Apartments in Hartford. The non-recourse loan features a 75 percent loan-to-cost ratio with a rate of 3.75 percent. Kris Wood, John Banas and Alex Hails of Colliers secured the financing for the undisclosed repeat borrower.
RAMSEY, N.J. — NAI Hanson has brokered the lease of 44,560 square feet of industrial space in Ramsey. Glebar Corp. will relocate to the industrial space at 565 Crescent Ave. from Franklin Lakes, N.J. The facility features five tailgates, one drive-in loading dock and 9,400 square feet of office space. Kenneth Lundberg and Patrick Lennon of NAI Hanson represented the property owner, West Essex Industrial Park LLC, while Craig Engelhardt of Savills Studley represented the tenant in the lease transaction.
NORTH HAVEN, CONN. — HK Group has brokered the sale of The North Haven Distribution Center, located at 1 N. Frontage Road in North Haven. Boston-based STAG North Haven LLC purchased the property for $57.7 million from New York-based North Haven Inc. Situated on 63.61 acres, the asset consists of two buildings, totaling 825,000 square feet. One property is a large refrigerated produce building with 71 dock height doors and one is a grocery warehouse building with 108 dock height doors. Matthew Keefe and Ricardo Cordido of HK Group were the sole brokers in the transaction.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of two residential towers located at 4101 and 4113 Broadway in Manhattan’s Washington Heights neighborhood. The two 12-story towers, totaling 126,005 square feet of commercial space and 125 residential units, sold for $42 million, or $333 per square foot, in an all-cash transaction. The properties feature a mix of 63 one-bedroom units, 36 two-bedroom units and 24 three-bedroom units, as well as seven ground-floor commercial units. Robert Shapiro and Bob Knakal of Cushman & Wakefield handled the transaction. The names of the buyer and seller were not released.
MIDDLETON, PA. — Woodmont Industrial Partners has opened the newest facility at Capital Logistics Center. Located at 200 Capital Lane, the 400,000-square-foot warehouse facility is LEED certified. A joint venture between Woodmont Industrial Partners and AEW Capital Management owns the six-building, 1.55 million-square-foot industrial park in Middletown. The joint venture purchased the industrial park in 2013. As part of the capital improvement program, two buildings that were more than 50 years old were demolish with 200 Capital Lane and 300 Capital Lane being constructed in their place.
NORWALK, CONN. — The Beach House LLC has acquired a two-story building located at 370 Westport Ave. in Norwalk. 370 Westport Avenue LLC sold the property for $2.95 million, or $668 per square foot. Bankwell Financial Group (NASDAQ: BWFG) occupies the 4,413-square-foot property, which is situated on a 0.35-acre lot. Franco Fellah of HK Group brokered the transaction. Steven Siegelaub of Berkowitz, Trager & Trager provided legal services for the seller, while Steven Baron served as legal counsel for the buyer in the 1031 exchange.
NEW YORK CITY — Meridian Capital Group has arranged $160 million in refinancing for two adjacent mixed-use properties in New York City’s Financial District. Drew Anderman of Meridian secured the five-year loan, which was provided by a balance sheet lender, for the borrower, The Moinian Group. The assets are located at 90 and 110 John St. and consist of a 29-story building with 221 residential units and 121,000 square feet of office space and a four-story property with 66,000 square feet of office, retail and garage space, as well as 150,000 square feet of additional air rights. The borrower plans to utilize the loan to pay off existing mortgage and construct a new residential tower.
NEW YORK CITY — The New York City Landmarks Preservation Commission (LPC) has approved RFR’s plans to reposition and redevelop 281 Park Avenue South in New York City. Formerly known as Church Mission House, the six-story, 45,000-square-foot building will undergo a renovation to modify the storefronts and create retail space on the second floor and a dedicated entry for a single office tenant. Redesigned by MdeAS Architects, the building will feature 6,700 rentable-square-foot office floor plates, marble mosaic flooring, stained glass windows, wood wainscoting, plaster ornamentation and a copper and terracotta roof. RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany.
NEW YORK CITY — Thor Equities has acquired a residential building located at 98 Morningside Ave. in Harlem for an undisclosed price. Situated near Columbia University’s campus in Morningside Heights, the seven-story building features 48 rental units. Additional details of the acquisition were not released.
SOUTH BRUNSWICK, N.J. — Integra Real Estate Capital has arranged a $14 million acquisition loan for a shopping center in South Brunswick. A grocery store and Bank of America occupy the 77,500-square-foot South Brunswick Shopping Center. The New Jersey-based borrower received a non-recourse loan of 82.5 percent loan-to-value that features three years of interest-only payments. Meyer Perlman of Integra negotiated the financing through a national balance sheet lender.
