GREENWICH, CONN. — Washington Trust, a Rhode Island-based bank, has provided a $2.9 million mortgage to 80 Mason Street LLC for the purchase of a 6,324-square-foot medical office building in Greenwich. The property is located at 80 Mason St.
CAMBRIDGE — ARIAD Pharmaceuticals, an oncology company, has signed a 15-year lease for its new corporate and research and development headquarters in Cambridge's Kendall Square. The company will occupy 244,000 square feet at 75/125 Binney St. The new headquarters is slated to open in the beginning of 2015. Joseph Fallon and Ted Lyon of Cassidy Turley represented the tenant in the transaction. CBRE represented the landlord and park developer, Alexandria Real Estate Equities.
BOSTON — LaSalle Hotel Properties has purchased a majority interest in Boston's Liberty Hotel through a joint venture with the developer and co-owner, an entity controlled by Dick Friedman of Carpenter & Co., for $170 million. The 298-room hotel is located at 215 Charles St. in the Beacon Hill neighborhood. It was built in 1851 as the Charles Street Jail and housed a number of famous inmates including Boston Mayor James Michael Curley and Malcolm X. The property was redeveloped as a hotel, which opened in 2007. The asset will continue to operate under The Luxury Collection franchise.
MONROE, N.J. — IDI is constructing Middlesex Center 2, a 751,450-square-foot warehouse building at Exit 8A of the New Jersey Turnpike. The building is expected to be complete in July 2013. Located in the 206-acre Middlesex Center, the property will feature customizable warehouse lighting, dock equipment and office space. The park also includes Middlesex Center 1, a 1.3 million-square-foot building. Additionally, plans call for the 450,000-square-foot Middlesex Center 3 building, which will be constructed in 2013.
NEW YORK CITY — Property Group Partners has entered a joint venture with Romanoff Equities to develop 860 Washington Street, a 120,000-square-foot office and retail development in Manhattan. The venture plan to break ground in the third quarter of 2013, and completion is slated for 2015. James Carpenter Design Associates designed the 10-story property. Douglas Harmon, Adam Spies and Josh King of Eastdil Secured facilitated the transaction.
CHESTER AND BERNARDSVILLE, N.J. — Urstadt Biddle Properties has acquired a medical office building and childcare center in New Jersey for a combined $6.4 million. The properties include the 14,592-square-foot Bernards Square Medical Office Building in Bernardsville and the 9,120-square-foot Clockwork Childcare Center in Chester. Both deals were part of a three-property portfolio owned by a local family. Urstadt expects to close on the third property, a grocery-anchored shopping center, in the next 90 days.
BRIDGEPORT, CONN. — Redbrick Partners, a Washington, D.C.-based REIT, has sold a student housing community comprised of 20 townhomes near Sacred Heart University to a New Jersey-based fund for $2.7 million. Taft Commons has been leased to the university since the mid-1990s, and it recently signed a three-year lease extension through 2015. Edward Jordan of Northeast Private Client Group represented the seller. Christopher Tichio of Alexander Summer represented the buyer.
NEW YORK CITY — A joint venture between the Kaufman Organization and Lubert-Adler has acquired an office building at 27-35 W. 24th St. in Manhattan for $55.5 million. The 114,880-square-foot building is fully leased by 51 office tenants and one retail tenant. The office tenants pay approximately $40 per square foot. Thomas Gammino, John Ciraulo and Craig Waggner of Massey Knakal represented both parties in the transaction. Signature Bank was the lender for the deal.
NEW YORK CITY — Bleecker Square Realty Corp. has sold 228 Bleecker St., a 28-unit mixed-use building in Manhattan's West Village for $18.7 million. The 16,205-square-foot building includes 25 apartment units, and three retail units, currently occupied by a restaurant, a cupcake shop and a wireless phone store. John Stewart of Marcus & Millichap represented the seller in the transaction. Marcus & Millichap also represented the buyer, a New York-based real estate investor.
NEEDHAM, MASS. — Tryko Partners has purchased Briarwood Healthcare & Rehabilitation Center, a 120-bed skilled nursing facility at 150 Lincoln St. in Needham for $12.5 million. The property includes long-term care and Alzheimer's units, with an onsite dining room, kitchen, laundry room, beauty salon, offices and a conference room. The seller was Walter Collins, a long-time owner and administrator. Jack Shea and John Davison of Rockland Trust arranged the financing for the sale.