BAYONNE, N.J. — Cushman & Wakefield has arranged $22 million in refinancing for SilkLofts, a multifamily property located at 154-157 Avenue E in Bayonne. The loan features a seven-year term at a 3.3 percent fixed rate, with a five-year extension option. Originally the Maidenform Brassiere factory, the property was converted into a multifamily development with five studio units, 26 two-bedroom units, 48 one-bedroom units and six private artist lofts. George Gnad of Cushman & Wakefield handled the transaction.
MALVERN, PA. — IMC Construction has completed a 45,000-square-foot headquarters building for ifm efector North America. Located at 1100 Atwater Drive with the Atwater Corporate Center in Malvern, the two-story facility features space for more than 175 employees, a fitness center, large cafeteria, training center, multiple conference rooms, an executive board room, 10-foot ceilings, large windows and an open floor plan. Essen, Germany-based ifm efector produces sensor and control products.
WATERTOWN, MASS. — Savills Studley National Retail Services Group has brokered the sale of a single-tenant retail property in Watertown. Boston-based Eastern Real Estate sold the 126,480-square-foot property to an affiliate of Inland Real Estate Acquisitions Inc. for an undisclosed price. Located at 615 Arsenal St., the property is occupied by The Home Depot, which has 17 years remaining on its triple-net lease. Kyle Miller and Bill Bauman represented the seller in the transaction.
NEW YORK CITY — Equicap has arranged $6.6 million in permanent financing for the refinance of a multifamily property located in Brooklyn’s Park Slope neighborhood. The non-recourse loan features a 10-year term with three years of interest-only payments and a 30-year amortization schedule at a 3.8 percent interest rate. The asset features 29 apartment units. Daniel Hilpert of Equicap negotiated the loan for the undisclosed borrower.
NEW YORK CITY — Blesso Properties has acquired the Broad and Boerum Building, located at 525 Broadway in Brooklyn’s Williamsburg neighborhood. The asset sold for $32.8 million, or $173 per buildable square foot. Formerly a branch of Lincoln Savings Bank, the property consists of a 60,300-square-foot office building and a 13,000-square-foot parking area. The site offers 189,150 buildable square feet. Michael Amirkhanian and Brendan Maddigan of Cushman & Wakefield represented the seller, Broad and Boerum LLC, while Benjamin Shafran of Citicore represented the buyer in the transaction.
COVENTRY, R.I. — Fantini & Gorga has arranged $16 million in permanent financing for a recently renovated multifamily property in Coventry. The 15-year loan provided by regional financial institutions features a 3.75 percent fixed rate. Originally constructed from the 1850s to 1900, the property includes 140 apartment units, a fitness center, community room, game room, indoor basketball court, movie theater and outdoor courtyard with grill area. Mark Whelan of Fantini & Gorga secured the financing on behalf of the borrower, a long-term client of the firm.
BRANFORD, CONN. — O,R&L Commercial has brokered the sale of Northeast Technology Center, located at 15 and 35 Northeast Industrial Road in Branford. Situated on 5.6 acres, the asset consists of three interconnected R&D/flex buildings, totaling 97,000 square feet, on two separate tax lots. SH NETC Branford LLC acquired the property for $10.5 million from G+L 15 & 35 NE Industrial LLC. Tim McMahon, Rich Lee and Frank Hird of O,R&L represented the seller and procured the buyer in the transaction.
DEDHAM, MASS. — Savills Studley has brokered the sale of a 20,000-square-foot flex building located at 60 Stergis Way in Dedham. Needham, Mass.-based Fulcrum Real Estate Partners purchased the property for $2.2 million from Boston Irrigation Supply Co. The property is currently leased to John Deere Landscapes. Steve Woodworth of Savills Studley’s Boston office represented the seller in the transaction. The buyer was not represented.
WINCHESTER, MASS. — SVN | Parsons Commercial Group | BOSTON has brokered the sale of an office/flex property located at 29 East St. in Winchester. Little Flippers Swim School Inc. purchased the 18,000-square-foot property for $1.9 million from Devereaux Trust. The buyer plans to renovate the building to accommodate a year-round, indoor swim school for children. Marci Alvarado and Jake Parsons of SVN | Parsons Commercial Group | BOSTON represented the buyer, while Glenn Rhudda and John Webster of Mohr Partners represented the seller in the transaction.
TEANECK, N.J. — HFF has closed the sale of, and secured financing for, Heritage Pointe of Teaneck, a 142-unit independent living facility located at 600 Frank W. Burr Blvd. in Teaneck. The firm marketed the property on behalf of the seller, Lowe Enterprises Investors, to an undisclosed buyer. Additionally, HFF secured a $33.2 million floating-rate loan on behalf of the buyer through Investors Bank and TIAA Direct, a division of TIAA-CREF Trust Co. FSB. Completed in 2004, the four-story property features 45 one-bedroom, 94 two-bedroom and three three-bedroom units, averaging 1,045 square feet. On-site amenities include a restaurant-style dining room, exercise room, wellness room, arts and crafts room, card room, resident lounge with fireplace, business center, recreation room, hair and nail salon, and tennis courts. The property was 97.2 percent occupied at the time of sale. Ryan Maconachy, Chad Lavendar, Jose Cruz, Kevin O’Hearn and Michael Oliver of HFF brokered the transaction, while Steven Klein, also of HFF, arranged the financing.