NEW YORK CITY— Arbor Commercial Funding has arranged a $26.9 million loan for the refinancing of 424 Bedford Ave., a 66-unit multifamily property in Brooklyn. Arbor secured the 10-year loan through Fannie Mae. The financing includes a 30-year amortization schedule.
NEW YORK CITY — Madison Marquette and certain funds within the Perella Weinberg Partners' asset-based value strategy have acquired The Center Building in Queens for $84.5 million. The 450,000-square-foot building is located at 33-00 Northern Blvd., immediately above the 36th Street subway station. Originally built in 1915, the property includes a 62-space underground parking garage and a ground-floor restaurant. The building is 88 percent leased to government agencies such as the Human Resources Administration and New York City Transit Authority. Andrew Scandalios, Jose Cruz, Jeffrey Julien and Kevin O'Hearn led the HFF team that represented the seller, Hampshire Properties, in the transaction.
HARRISBURG, PA. — Pennsylvania Real Estate Investment Trust (PREIT) has closed on its purchase of Paxton Towne Centre, a power center in Harrisburg, for $76.8 million. PREIT developed the center in 2001 for approximately $55 million. The 717,000-square-foot property is anchored by Target, Costco, Kohl's and Weis Markets.
PROVIDENCE, R.I. — Inland Diversified Real Estate Trust has acquired One Hasbro Place, toymaker Hasbro's U.S. corporate headquarters in Providence, for $29.8 million. Hasbro fully occupies the 135,908-square-foot property, which recently underwent a full renovation. Toy brands sold by Hasbro include Star Wars, Transformers, Playskool, Nerf and Trivial Pursuit. The company plans to move more than 300 employees to the area to make the property its new U.S. headquarters for sales and marketing. Joe Consenza of Inland Real Estate Acquisitions represented Inland Diversified in the transaction.
SCARSDALE, N.Y. — NorthMarq Capital has arranged a $32 million loan for the refinancing of Midway Shopping Center, a 246,981-square-foot retail property at 1001 Central Park Ave. in Scarsdale. Major tenants at the site include Shop Rite, CVS/pharmacy, Jo-Ann Fabrics, The Dress Barn and Planet Fitness. Doug Austin of NorthMarq arranged the 15-year loan through a life company lender.
CHELMSFORD, MASS. — Beech Street Capital has arranged an $11.3 million Fannie Mae loan for the acquisition of the Carriage House and Coach House Apartments in Chelmsford. Built in the 1960s, the properties are 88 percent occupied and total 149 units. Briar Cliff Management oversees the property. Mike Edelman of Beech Street arranged the 10-year, fixed-rate loan that includes a 30-year amortization schedule.
SOUTH WINDSOR, CONN. — Marcus & Millichap has arranged the $32.2 million sale of a FedEx Ground package and sorting facility in South Windsor. The 224,061-square-foot facility is fully leased to FedEx Ground Package Systems for 15 years. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the buyer in the transaction.
PARSIPPANY, N.J. — Prism Capital Partners and The Davis Cos. have acquired 339 Jefferson Road, a 102,433-square-foot office building in Parsippany. The Realty Associates Fund IV was the seller. The property, formerly known as Kingsbridge Corporate Center IV, is located near the junction of I-80 and I-287. The Sheraton Tara Hotel and Hyatt House are minutes away. Gary Gabriel of Cushman & Wakefield represented both parties in the transaction.
MARLBORO, N.Y. — Brooklyn Bottling Group has acquired a 113,532-square-foot manufacturing building at Route 9 West and Riverview Drive in Marlboro. Brooklyn Bottling, one of the largest independently owned beverage and food companies in the U.S., plans to use the facility as a warehouse for its finished goods. The building features 9,500 square feet of office space and newly installed loading docks. Jim Panczykowski of Binswanger represented the seller, Chelsea Homes Inc., in the transaction.
NEW YORK CITY — Two adjacent apartment buildings at 38-52 Fort Washington Ave. have sold for $13.6 million. The six-story buildings contain a total of 117,276 square feet. The property is located near Columbia Presbyterian Hospital and the Broadway retail artery. Riverside Park and Highbridge Park are also nearby. Recent upgrades to the property include new elevators, roofs, boilers, intercoms and fire escape cages. Robert Shapiro of Massey Knakal represented both parties in the transaction.