WINCHESTER AND WOBURN, MASS. — Fantini & Gorga has arranged $18.44 million in FHA financing for two Massachusetts skilled nursing facilities. The first property is the 121-bed Winchester Nursing & Rehabilitation Center in Winchester, and the second is the 140-bed Woburn Rehabilitation & Nursing Center in Woburn. The loan was placed with Eastern Mortgage Capital, one of Fantini & Gorga's correspondent lenders.
Northeast
BAYONNE, N.J. — The Bayonne Planning Board has granted approval for the construction of a new medical office building in the city. Bayonne Medical Center plans to construct an approximately 50,000-square-foot building that will house a surgery center, a nursing school, a hospital pharmacy and doctors' offices. Groundbreaking is set to occur in 2011. William Procida is overseeing the project on behalf of Bayonne Medical Center.
CARLISLE, PA. — Hillwood Investment Properties has acquired Key Distribution Center, a more than 600,000-square-foot industrial property located in Carlisle. The Class A facility is situated on a 46.3-acre site at 1700 Ritner Highway. It was constructed in 2007. The seller was a joint venture between Chicago-based companies Higgins Development Partners and Pritzker Realty Group. Steve Bonge, Tim Brogan and Patrick McBride of Grubb & Ellis represented the venture in the deal. Michael Bartolacci, Gerald Bower and Jerry Moore of The Garibaldi Group represented the buyer. The acquisition price was not released.
NEW YORK CITY — Beech Street Capital has secured $42 million in Fannie Mae DUS financing for a New York City multifamily portfolio. The portfolio comprises six high-rise rental buildings located in Manhattan and the Bronx that contain a total of 416 units. The loan has a 10-year term with a fixed interest rate, 9.5 years of yield maintenance and a 30-year amortization schedule. Avi Weinstock of Meridian Capital Group originated the deal, which was financed by Beech Street Capital.
WOODBRIDGE, CONN. — Cushman & Wakefield of Connecticut has completed the sale of Woodbridge Corporate Park for $5.07 million. The property consits of a 49,965-square-foot office building located at 1764 Litchfield Turnpike in Woodbridge. The buyer, Aliquant Corp., plans to eventually assume occupancy of the entire building as its existing leases expire. Robert Motley of Cushman & Wakefield of Connecticut represented the undisclosed seller and procured Aliquant.
NEWINGTON, CONN. — Electronics retailer P.C. Richard & Son has acquired a former Circuit City retail store in Newington for $3.3 million. The 40,850-square-foot building is located at 3440 Berlin Turnpike. Kim Mowers of Grubb & Ellis negotiated the deal between P.C. Richard the seller, a private investor.
RAYMOND, N.H. — The Kane Company has completed the sale of a 52,000-square-foot industrial property in Raymond. The building is situated on 10 acres at 13 Center St. It was formerly occupied by a plastics manufacturer. Fisher Auto Parts was the buyer and plans to use the facility as a warehouse for its Robbins Auto Parts operations. Joseph Kane of Kane represented the buyer, and Peter Bilipp, also of Kane, represented the undisclosed seller.
NEW YORK CITY — Massey Knakal Realty Services has brokered the sale of a multifamily building in Manhattan for $2.2 million. The five-story property is located at 254 E. 33rd St. It was delivered vacant but had been partially renovated. It contains a ground-floor commercial unit, five studio apartments and a one-bedroom duplex. Massey Knakal brokers John Ciraulo and Thomas Donovan completed the deal between the two undisclosed parties.
NEW YORK CITY — Gateway Center at Bronx Terminal Market, an approximately 1 million-square-foot shopping center located in the Bronx, has received LEED Core & Shell – Silver certification. The designation makes the $500 million project, which was developed by Related Cos., the largest retail center in the nation to receive LEED-Silver. Sustainable features include a reflective roof, a stormwater filtration system and reserved parking for low-emissions and hybrid vehicles. During the construction phase, more than 30 percent of construction materials were sourced regionally, and more than 82 percent of the construction waste was diverted from landfills. Gateway Center is currently 95 percent leased to a tenant roster that includes BJ's, The Home Depot, Target, Bed Bath & Beyond, Marshall's, Raymour & Flanigan, Staples, Best Buy, Toys “R” Us/Babies “R” Us and Applebee's.
WOODLYN, PA. — Marcus & Millichap has completed the sale of MacDade Apartments for $7.5 million. The 160-unit community is located at 1400 MacDade Blvd. In Woodlyn. It was approximately 80 percent occupied at the time of closing. Ken Wellar of Marcus & Millichap's Philadelphia office represented the seller and procured the buyer in the short-sale transaction. The buyer assumed CMBS financing as part of the deal. The property traded at a 7.5 percent cap rate.