STAMFORD, CONN. — Berkadia Commercial Mortgage has arranged a $34.4 million loan for the refinancing of The Lofts at Yale & Towne in Stamford. The property, which is located at 200 Henry St., is a six-story, 225-unit apartment building. It was recently redeveloped and was 97 percent occupied at the time of closing. The loan carries a fixed interest rate, a 7-year term and a 30-year amortization schedule. Berkadia's Stewart Campbell and Thomas Toland originated the loan through Freddie Mac on behalf of the borrower, HS Lofts I-V LLC.
NEW YORK CITY — A portfolio of former AJ Wright retail properties had gone to market. The properties are located in 11 states, primarily in the Eastern United States. New York City-based Keen Realty Advisors will represent the portfolio's owner, TJC Companies.
BOSTON — Capital Access has arranged the sale of a high-rise multifamily property at 75 Saint Alphonsus St. in Boston for $92 million. The 20-story building contains 296 units, a gym, a swimming pool, and surface and garage parking. The undisclosed buyer has renamed the property The City View at Longwood. Jeffrey Rome of Capital Access represented the undisclosed seller.
WHITE PLAINS, N.Y. — Charlotte, N.C.-based Grandbridge Real Estate Capital has closed on a $75.82 million loan for a White Plains multifamily community. Bank Street Commons consists of two 21- and 22-story towers containing 502 Class A units. The towers are joined by a common area occupied by two retail units. The loan, which was originated by Grandbridge's Mike Ortlip and funded by Fannie Mae, carries a 7-year term, a fixed interest rate and interest only payments. The property was recently purchased by a pension fund advisor.
TEANECK, N.J. — Marcus & Millichap has brokered the sale of a 42,047-square-foot Stop & Shop located in Teaneck for $10.25 million. The building is situated on 3.8 acres at 665 American Legion Drive. Stop & Shop occupies the building under a 20-year, triple-net lease, which has 8 years remaining on it with four 5-year renewal options. The Marcus & Millichap team of Bob Horvath, Todd Tremblay and Mike Lombardi represented the seller, FW Teaneck LLC, and procured the buyer, H&R LLC.
PHILADELPHIA — Construction is complete for the $786 million expansion to the Pennsylvania Convention Center. The project, which was completed by a joint venture between Tishman Construction Corp. and Joseph Jingoli & Son, included the construction of 935,000 square feet of new space. The expansion include more than 528,000 square feet of contiguous exhibit area, 23 additional meeting rooms, three new exhibition halls, a 56,000-square-foot ballroom, a new main entrance atrium lobby, an extension of the Arch Street Concourse, a new central power plant and new support space. The expansion spans 13th Street and extends a city block to Broad Street. The grand opening will be held in March. Vitetta Group was the architect.
NEW YORK CITY — A joint venture between Metropolitan Realty Associates, Belvedere Capital and Angelo Gordon & Co. has purchased a 150,000-square-foot office condo for $33 million. The condo comprises the first eight floors of a 20-story building located at 15 E. 26th St. in Manhattan. The condo was 55 percent leased at the time of closing. Douglas Harmon of Eastdil Secured represented the seller, a joint venture between a Deutsche Bank investment fund and Walter & Samuels. The latter party reinvested with the buyers in the deal.
MANCHESTER, N.H. — The Federated Companies has broken ground for Legacy Park Manchester. The project will be constructed on 12.6 acres at the corner of Bradley and Gold streets in Manchester. It will include six three-story apartment buildings and 11 single-family homes. The apartments will contain one or two bedrooms and range from 617 to 861 square feet. The homes will have a five-bedroom, three-bathroom layout. Completion is expected in December.
QUINCY, MASS. — Cornerstone Real Estate Advisers has purchased The Reserve at Marina Bay, a six-story, 141-unit apartment community located in Quincy. Constructed in 2001 and expanded in 2006, The Reserve at Marina Bay is situated along the Quincy waterfront as a part of the 400-acre Marina Bay master-planned community. It contains studio through two-bedroom units with an average unit size of 919 square feet. Amenities include a fitness center, a business center, a community room, 72 garage parking spaces and 156 surface parking spaces. The Cushman & Wakefield team of Simon Butler, Biria St. John and Michael Byrne represented the seller, 7 Seaport LLC, and procured Cornerstone.
JOHNSTOWN, N.Y. — Boston-based Gross & Cohen (G&C) has disposed of Campus View Apartments, a 144-bed student housing community located near Fulton-Montgomery Community College in Johnstown. G&C purchased the distressed community in 2007 and has spent the time since then rehabbing the community and bringing it to full occupancy. As a result of the improvements, G&C sold the community to Fulton-Montgomery's nonprofit foundation. The sale price was not released.