BEAR, DEL. — Beech Street Capital has secured $32 million in Fannie Mae financing for Christiana Meadows, a 648-unit, garden-style apartment community located in Bear. The borrower, School House Trust, plans to use the proceeds to pay off the property's existing $26.4 million debt. Bryan Sykes of Beech Street's Boston office originated the loan. The borrower's name was not released.
SOMERSET, N.J. — Colliers International has brokered the sale of a 20,164-square-foot retail center located at 464 Elizabeth Ave. in Somerset for $8.9 million. The center was constructed in 2009 and is tenanted by Rite Aid, Dunkin Donuts and New Millennium Bank. The buyer was a regional investor. William Aiello and George Lulos of Colliers' Harrisburg, Pa., office partnered with Ian Schroeder and Maurice Nieman of the firm's Irvine, Calif., office to represent both parties in the deal.
HAUPPAUGE, N.Y. — The Hamphire Companies has sold a Long Island warehouse to C.R. Trop LLC. The property is located in Hauppauge at 75 Oser Ave., within Hauppauge Industrial Park. It totals 32,500 square feet and features full air conditioning, 16-foot clear ceilings, two docks and one drive-in door. Richie Cohen of Ashlind Properties represented Hampshire in the deal.
NEW YORK CITY — Q10 | New York Realty Advisors has arranged $13.8 million in non-recourse financing for an 80-room, limited-service hotel located in the Midtown West submarket of Manhattan. The loan, which carries a 5-year term and a 5.11 percent fixed interest rate, will refinance a 2006 loan for the property. The borrower and lender were not disclosed.
PHILADELPHIA — The Kislak Company has completed the sale of Empirian Luxury Towers, a 569-unit apartment community located in Philadelphia, for $27.3 million. Constructed in 1949 and located at 633 W. Rittenhouse St., the community consists of two 12-story brick buildings. It also contains 13 commercial spaces. Jacob Friedman of Kislak arranged the deal between the undisclosed parties and worked with the special servicer for the property's distressed $50 million commercial mortgage-backed loan.
STAMFORD, CONN. — CB Richard Ellis (CBRE) has brokered the sale of One Dock Street, an 85,723-square-foot office building located in Stamford, for $15.8 million. The building was 87 percent leased at the time of the closing. The property is situated at the entrance to the new Harbor Point project that is under development. The CBRE team of Jeffrey Dunne, Steven Bardsley and David Gavin represented the seller, Antares One Dock LP. The team also procured the buyer, a joint venture between Meritage Properties and ClearRock Properties.
JERSEY CITY, N.J. — Merrill Lynch, now a division of Bank of America, has renewed its office lease at 95 Greene St. in Jersey City. The financial institution occupies all of the eight-story, 300,000-square-foot building. The building's landlord, SJP Properties, is currently pursuiing LEED for Existing Buildings certification for it.
BRYN MAWR, PA., AND NEW YORK CITY — A joint venture between Bryn Mawr-based WP Realty and New York City-based Angelo, Gordon & Co. has purchased The Shaw's Portfolio for an undisclosed amount. The eight-property portfolio contains 659,143 square feet of retail space. It consists of seven Shaw's anchored shopping centers and a freestanding property occupied by Hannaford Brothers. The properties range in size from 57,181 to 124,331 square feet. Five of the centers are located in Massachusetts, two are located in Maine and one is located in Rhode Island. Combined occupancy was 97 percent at the time of closing. The seller was not disclosed.
WOODBRIDGE, N.J. — The Hampshire Companies has held the grand opening for CENTRA, a new 110,000-square-foot, Class A office building located at 186 Wood Ave. South in Woodbridge. The company purchased the building, formerly occupied by Siemens, in 2009 and completed a top-down renovation. Amenities include sunken gardens, a fitness center, a conference center and a café. The building is LEED-Gold certified. The project team include Tishman Construction and architect Kohn Pedersen Fox Associates. Newmark Knight Frank is serving as leasing agent.
NEW YORK CITY — Robert K. Futterman & Associates (RKF) has brokered the sale of a retail condominium in Midtown Manhattan for $16.25 million. The condo totals 6,183 square feet and is located at 750 Eighth Ave. in the ground floor of the 43-story The Platinum residential building. The condo was vacant at the time of the sale. The RKF team of Michael Worthman and Brandon Eisenman represented the seller, SJP Residential Properties, and procured the buyer, Hershel Torkian.
