PLAINSBORO, N.J. — Vantage Mid-Atlantic, a division of New York-based Vantage Properties has acquired Fox Run Apartments, a 776-unit, garden-style apartment community located in Plainsboro. Amenities at the property include a fitness center, an outdoor swimming pool and tennis courts. This is the first acquisition made by Vantage Mid-Atlantic since it launched in the spring. In addition, the Fox Run Apartments, Vantage Properties currently owns and operates approximately 10,000 apartment units in approximately 150 buildings in New York City.
BOSTON — CWCapital, a subsidiary of CW Financial Services, has provided a $130 million loan for the refinancing of Church Park, a 12-story luxury apartment tower located in Boston. The property was developed in 1973 and is located at 221 Massachusetts Ave. It consists of 508 Class A apartments, 71,399 square feet of ground-floor retail space and a six-story parking garage. Apartment amenities include a penthouse community room with wireless Internet access, a fireplace, a baby grand piano and a rooftop terrace. Other amenities include 24-hour security and full concierge services. Tenants for the building’s retail component include Whole Foods Market. The building is currently 99 percent leased. Andrew Gnazzo and Michael Darling of CWCapital’s Boston office originated the loan through Freddie Mac’s Capital Markets Execution Program. Terms of the financing include a 10-year term and a 5.51 percent fixed interest rate. CAS Financial Advisory Services advised the borrower, Boston Residential Group.
WEST ORANGE, N.J. — The Hampshire Companies, in a joint venture with Paragon Realty, has leased 13,776 square feet of medical office space at 375 Mount Pleasant Avenue, located in West Orange. The tenant, The Urology Group of New Jersey, plans to take occupancy in November. The building, which totals 106,000 square feet and was formerly a research and development facility for Organon USA, is being converted into a building for hospital and medical office uses. The Hampshire/Paragon JV was represented by Frank Gunsberg of FirstService Williams. John Feeney of Studley represented the tenant. The property is part of Hampshire Partners Fund VII, one of the company’s institutional real estate investment funds.
WALTHAM, MASS. — R.W. Holmes Realty Co. has arranged a lease for 15,111 square feet at Watermill Center, located in Waltham. The space will be occupied by Providence, R.I.-based accounting firm Kahn, Litwin, Renza & Co. (KLR). The firm recently expanded its reach into the greater Boston area with the acquisition of Sullivan, Shuman & Freedberg, and will be relocating those operations to Watermill Center. Garry Holmes and Chip Setwiller of R.W. Holmes represented KLR in lease negotiations. Dave Campbell of Newmark Knight Frank represented the landlord, New Boston Fund. Watermill Center is a 206,722-square-foot, Class A office building located at 800 South St.
NEW YORK CITY — Meridian Capital Group has arranged a $151 million loan for The Ritz Plaza, a 43-story residential apartment building located in New York City’s Times Square. The building comprises 479 luxury units, as well as 30,000 square feet of retail and office space. Resident amenities include a fitness center, an indoor pool and a newly remodeled social center. The loan carries a 10-year term with a 5.34 percent fixed interest rate and 2 years of interest-only payments. Ralph Herzka and Abe Hirsch of Meridian secured the financing on behalf of the borrower, Stonehenge Management. The lender was Freddie Mac via the New York office of Walker & Dunlop.
QUINCY, MASS. — The Boston office of NorthMarq Capital has secured $5 million in mortgage financing for Bay Pointe Marina, a 271-slip marina located in Quincy. The facility features on-site winter boat storage, an indoor repair facility, an at-dock gas stations and a new marina clubhouse. The marina also contains Inn at Bay Pointe, a restaurant with banquet facilities and outdoor decking. Debbie Orloff arranged the loan on behalf of the owners of NorthMarq through The Bank of New England.
CHICOPEE, MASS. — Colliers Dow & Condon has completed a long-term lease for 56,000 square feet of warehouse space in Chicopee. The property is located at 77 Champion Dr. and is owned by Concord, Mass.-based Winstanley Enterprises. Valor One signed a lease for the property worth more than $1 million. Nicholas Morizio, Rich Abo, of Colliers Dow & Condon, along with Kevin Jennings of Springfield, Mass.-based Jennings Real Estate, represented the landlord in lease negotiations. The tenant was represented by John Reed of CB Richard Ellis.
WESTWOOD, N.J. — The Kislak Company has completed the sale of three apartment buildings comprising 42 residential units and one commercial space in Westwood. The sale included Hampton West Apartments, an 18-unit property with a medical office located 153 – 161 Third Ave.; Sutton Place Apartments, a 17-unit property located at 57 Crest St.; and Hampton East Apartments, a 7-unit property located at 19 Crest St. Hampton West Apartments sold for $2.85 million and Sutton Place Apartments and Hampton East Apartments sold together for $3.12 million. Each property consists of a three-story brick building with pitched mansard roofs, spacious one-bedroom apartments, on-site parking and laundry facilities. Matt Weilheimer of Kislak represented the seller in each transaction and also represented the purchaser, a private investor, of Hampton West Apartments. Joseph Keenan, also of Kislak, represented the purchaser, also a private investor, of Sutton Place Apartments and Hampton East Apartments.
NEW JERSEY — Summit Realty has been appointed the exclusive New Jersey broker for Sarku Japan’s new street development program. The national Japanese QSR chain is looking for 1,600- to 2,000-square-foot locations in Northern and Central New Jersey’s top trade areas. Demographic requirements include 35,000 people within 2 miles, and at least 10,000 daytime workers. The restaurant currently serves more than 20 million customers annually at over 200 restaurants nationwide, offering made to order teriyaki and sushi.
EDISON, N.J. — CresaPartners has completed a 32,408-square-foot lease expansion on behalf of Camp, Dresser & McKee, a consulting, engineering, construction, and operations firm. The tenant will be taking an expanded space on the sixth floor of Raritan Plaza I in Edison. Conveniently situated in Edison, New Jersey, near the Garden State Parkway, the New Jersey Turnpike, I-287 and Routes 1, 9, 35, and 440, Raritan Plaza I is a 262,500-square-foot Class A office building, which is located within Raritan Center. Raritan Center features the New Jersey Convention and Exposition Center, several hotels, three banks, a travel agency, a day care center, News 12 New Jersey, and a U.S. Post Office, as well the regional operations for both United Parcel Service and Federal Express. Dennis Gralla, James Scancarella, and Christopher Crooks of CresaPartners represented Camp, Dresser and McKee in the transaction, and Summit Associates was represented by Vincent Visceglia.