HARTFORD AND WATERBURY, CONN. — Arbor Commercial Funding has arranged two Fannie Mae DUS loans for multifamily properties in Connecticut. Stephen York of Arbor's New York City office secured $1.8 million for 12 Willard Street Apartments, a 61-unit community located in Hartford. John Edwards of Arbor's Boston office secured $1.43 million for Jersey Street Apartments, a 42-unit community located in Waterbury. Both loans carry a 10-year term and a 30-year amortization schedule.
WARWICK, R.I. — Eastern Mountain Sports is relocating its Cranston, R.I., location to Warwick. The outdoor sports retailer has signed a lease for 14,526 square feet at 1000 Bald Hill Road, a 73,023-square-foot strip center. The new location will open next spring. Linear Retail Properties is the property's owner.
CHESTER, N.J. — Stamford, Conn.-based Core Plus Partners has acquired a New Jersey lifestyle center from RREEF. The Streets of Chester is a 104,682-square-foot property located along Route 206. Its primary tenants include Coach, Chico's, Gap, Talbots, Coldwater Creek and Banana Republic. Carlo Caparruva of Fameco Real Estate represented both parties in the deal. The acquisition price was not disclosed.
WESTFORD, MASS. — Linear Retail Properties has acquired a freestanding Rite-Aid pharmacy in Westford for $3.4 million. The 15,103-square-foot building was constructed in 1995 and is located at the intersection of Route 110 and Littleton Road. Linear acquired the building from an affiliate of California-based Corporate Partners Property Group. Mike O'Mara of Eastern Net Lease Advisors represented Linear in the deal.
BROOKLAWN AND ELIZABETH, N.J. — The Kislak Company has brokered the sale of two New Jersey properties for a total of $4.8 million. The first property was Brooklawn Court Apartments, a 54-unit multifamily community located in Brooklawn. It traded for $2.9 million. The second property was an 18,360-square-foot office building located in Elizabeth. It sold for $1.9 million. Kislak's Joni Sweetwood represented the buyer in Brooklawn deal and the seller in the Elizabeth deal, which were the same party, as well as the seller in the Brooklawn deal. Kislak's Andrew Jonas represented the buyer in the Elizabeth deal.
BOSTON — CB Richard Ellis (CBRE) Hotels has completed the sale of Radisson Hotel Boston, a 358-room hotel located at 200 Stuart St. in Boston. The hotel features 20,000 square feet of flexible meeting space, two purpose-built auditoriums, two restaurants and a parking garage. The CBRE Hotels team of Dave McElroy and Scott Hutchinson represented the seller, John Philopoulos Associates. The buyer was Northwood Investors. The acquisition price was not disclosed.
EAST ORANGE, N.J. — Phoenix Realty Group has acquired a portfolio of 548 distressed apartment units in East Orange for $24.2 million. The units primarily date from the 1930s and are located within a 1-mile radius of each other. They mostly consist of a mix of one- and two-bedroom apartments in multi-story buildings. Phoenix has brought on TreeTop Development to renovate the units and bring them back up to market rates. Phoenix made the acquisition on behalf of one of its institutional real estate funds.
NEW YORK CITY — Target and Marshalls are the two newest tenants to open their foors at Sky View Center, an 800,000-square-foot shopping center located in Flushing, Queens. Target is occupying 180,000 square feet in the center, and Marshalls is leasing 37,000 square feet. The retailers will join a tenant roster that includes BJ's Wholesale Club, Best Buy and Bob's Discount Furniture. Other tenants opening this year include Bed Bath & Beyond, Payless, Old Navy, Applebee's Neighborhood Grill & Bar and Chuck E. Cheese's. Onex Real Estate Partners is the project's owner and developer. Sky View Center is part of the Sky View Park mixed-use development, which also includes six residential condominium towers.
NEW YORK CITY — Massey Knakal Realty Service has completed the sales of two properties located in Manhattan's Upper East Side for a total of $31 million. In the first deal, a 16,790-square-foot commercial building at 29 E. 61st St. traded for $21 million. The five-story building contains the restaurant Serafina on the ground floor along with six retail and office tenants. Massey Knakal's Guthrie Garvin and Jeffrey Shalom arranged the deal between the seller, Hidrock Realty, and the undisclosed buyer. In the second deal, a five-story, 9,765-square-foot building located at 34 E. 61st St. traded for $10 million. The property contains five residential units on the upper three floors and the restaurant Aureole on the bottom two floors. Guthrie partnered with Paul Massey, Jr., to complete the deal between the two undisclosed parties.
NEW ROCHELLE, N.Y. — Chatham Lodging Trust has closed on the $21 million acquisition of the Residence Inn by Marriott in New Rochelle. The 10-story, 124-suite hotel is located at 35 LeCount Place. It features a fitness center, a swimming pool and structured parking. Island Hospitality Management, an affiliate of Lodging, will manage the hotel.