BRIDGEPORT, CONN. — White Plains, N.Y.-based Houlihan-Parnes Realtors has arranged $1.26 million in first mortgage financing for the acquisition of two apartment buildings totaling 48 units and two commercial units in Bridgeport. The properties were sold as a short sale for $1.68 million. The 10-year loan was provided by a Connecticut-based savings bank with a 25-year amortization schedule.
AVON, MASS. — Cushman & Wakefield Sonnenblick Goldman has arranged a $7.85 million fixed-rate mortgage on behalf of a joint venture between Condyne and The Davis Cos. for the acquisition of a 248,000-square-foot industrial warehouse and distribution facility located at 80 Stockwell Dr. in Avon. Richard Swartz and Jay Wagner of the firm’s Boston office secured financing for the property through Brookline Bank.
GLEN FALLS, N.Y. — Scott DeVinney of NorthMarq Capital’s Rochester, N.Y., office has arranged $4 million in first-mortgage financing for a mixed-use property located on Warren Street in Glen Falls. The financing was secured through M & T Bank and was based on a 7-year term with a 25-year amortization schedule. The property contains 27 apartment units and 20,000 square feet of office space.
WINDHAM, CONN., & NORTH KINGSTOWN, R.I. — Boston-based EagleBridge Capital has arranged $2.09 million in permanent mortgage financing for retail properties located in Connecticut and Rhode Island. In Windham, EagleBridge arranged financing for a 7,000-square-foot building, located at 320 Boston Post Rd., which is leased to Advance Auto Parts. In North Kingstown, EagleBridge secured financing for the 4,850-square-foot AT&T Plaza, located at 6070 Post Rd. The property is leased to AT&T Wireless and Great Harvest Bread Co. Brian Sheehan and Ted Sidel of EagleBridge secured the financing, which was provided by a regional financial institution.
OCEANSIDE, N.Y. — Lev Kimyagarov of New York-based Massey Knakal has arranged the $1.08 million sale of a 15,645-square-foot retail development site in Oceanside, located between Weidner and Montgomery Avenues. The 26,000-square-foot site includes a 15,645-square-foot retail building and a single-family home.
CLINTON, MASS. — KBS Capital Advisors, an affiliate of Newport Beach, Calif.-based KBS Realty Advisors, has signed a 48,000-square-foot lease with Worcester, Mass.-based ECM Plastics at 111 Adams Rd. in Clinton, which is part of Adams Road Industrial Park. ECM Plastics will use the lease to expand its business to Clinton. James Stubblebine of Lexington, Mass.-based Stubblebine Co. represented KBS, and ECM Plastics was self-represented.
DANBURY, CONN. — Phoenix Realty Group and Paredim Partners have acquired a 192-unit Hillcroft at Danbury for $27.65 million. Paredim’s upgrades are expected to be $1 million and will focus on landscaping, open spaces, apartment finishes, expansion of the fitness center and covered parking. These upgrades are scheduled to be completed in 12 to 18 months. Marcus & Millichap represented the seller, Fairfield Hillcroft, in the transaction.
LITCHFIELD, CONN. — Elkins Park, Pa.-based Optimum Hotel Brokerage has closed the sale of the 32-unit Litchfield Inn, a boutique hotel in Litchfield, for $2.08 million. Joseph McCann of Optimum was the exclusive broker. In addition to the hotel’s 32 guest rooms, the hotel features more than 4,000 square feet of ballroom facilities and a full service restaurant and tavern. The buyer is planning a complete renovation of the guest rooms.
ROBBINSVILLE, N.J. — CB Richard Ellis has completed a 504,286-square-foot industrial lease at 100 West Manor Way in Robbinsville. Mindy Lissner and William Waxman of CB Richard Ellis’ N.J. office represented the tenant, Kenco Logistic Services, in the transaction and Chuck Fern of the Metropark, N.J. Jones Lang LaSalle office represented the landlord, Principal Real Estate Investors.
CHATHAM, N.J. — Marcus & Millichap has arranged the sale of the 10,200-square-foot Chatham Apartments located in Chatham. The asset sold for $1.7 million and consists of 10 residential apartment units and two commercial units. Kevin McCrann and Thomas McConnell of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, New Jersey-based Sunrise Center Street Corp., and secured the buyer, Chatham Center.