MARLTON, N.J. — Mainardi Management Co. has obtained an $11.7 million loan for the Greentree Square Shopping Center in Marlton. The 110,000-square-foot center is anchored by Whole Foods Market. Tom Didio and Mike Cerullo of HFF arranged the loan through Allstate Insurance Co. The 10-year loan carries a fixed rate of 4 percent.
CAMDEN, N.J. — Centerline Capital Group has arranged a $3.5 million Fannie Mae loan to refinance a newly rehabbed apartment property in Camden. Macedonia Gardens consists of an 11-building apartment complex clustered among Saunders, Howell and Mitchell streets. Built in 1969, the properties underwent a substantial rehab that was completed in 2010. The borrower was Nationwide Housing Management.
NEW YORK CITY — Zara Realty has acquired five apartment buildings in Hollis and Jamaica, Queens for $38.5 million. The properties include 191-11 Woodhull Ave. and 91-59 191st St. in Hollis and 144-88 88th Ave., 88-09 148th St., 88-25 148th St. in Jamaica. The buildings include a total of 345 apartment units and 306,286 square feet. Bob Knakal and Brian Sarath of Massey Knakal represented the seller in the transaction.
NEWARK, N.J. — An $8 million, full-service supermarket opened in Newark on Feb. 28. The 31,000-square-foot Food Depot is located in a rehabilitated warehouse at 75 First St., which was vacant for more than 10 years. The owners are Orfilio Chaviano and Nectalier Gonzalez, who have more than 40 years of combined experience in the grocery industry. The center marks the first full-service supermarket to open in Newark's Central Ward in 22 years.
NORWOOD, MASS. — Chestnut Hill Realty has completed the final phase of a four-building apartment project at Norwest Woods in Norwood. With the addition of 54 units, the project includes a total of 91 one-, two- and three-bedroom apartments. Since 2008, the development has added a new clubhouse, fitness center, swimming pool and community room.
NATICK, MASS. — MathWorks Inc. has renewed and expanded its lease at 24 Prime Park Way in Natick. MathWorks, which specializes in mathematical computer software, expanded to 40,000 square feet, adding 22,000 square feet of space on the second floor. Garry Holmes of the Wayland, Mass. office of R.W. Holmes Realty Co. represented MathWorks in the transaction. Craig Johnson of R.W. Holmes represented the landlord, LMF Cochituate Corp.
PHILADELPHIA — The Franklin Institute of Philadelphia has selected Skanska USA to construct its new building addition — the 53,000-square-foot Nicholas and Athena Karabots Pavilion. The project is part of a four-year renovation of the facility and the museum has raised $60 million toward its total goal of $64.7 million. The pavilion addition will include an education and conference center and a permanent exhibition. Skanska plans to break ground this spring and the addition is slated to open in the summer of 2014.
SALISBURY, MASS. — The Federated Cos. received site plan approval from the Town of Salisbury for its 210-unit multifamily community. The site is located at 191 Beach Rd. in Salisbury. Last March, the company acquired a 13.2-acre development site, which included developmental rights to construct a multifamily community as well as a community building, fitness center and swimming pool. The development is currently on the market for $3.1 million.
NEW YORK CITY — The New York office of Mortgage Equicap has arranged a $17 million construction loan for a 60-unit, ground-up apartment development in Brooklyn. The proceeds will be used to refinance an existing construction loan and build an additional 30 units on an adjacent lot. The property is located in the Clinton Hill section of Brooklyn.
WEST POINT, N.Y. — Philadelphia-based EwingCole has designed a new $34 million addition to the Keller Army Community Hospital Clinic at the U.S. Military Academy at West Point. The project is expected to be complete in May of 2014. The 51,000-square-foot addition will be home to the optometry, ophthalmology, physical therapy and orthopedic clinics. The project will be completed in phases to allow the hospital to remain open during construction.