NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has arranged the sale of a Brooklyn warehouse for $5 million. The three-story, 63,000-square-foot building is located at 268 Norman Ave. It was vacant at the time of closing. The new owners plan to convert it into office space. KDA's Jeffrey Unger represented the buyer, Norman 268 Realty LLC, as well as the seller, 268 Norman LLC.
NEW YORK CITY — Coalco New York has spun off its real estate holdings operation and created a new entity, Corigin Holdings. Corigin Holdings has assumed some real estate assets of Coalco to create two new divisons, Corigin Real Estate Group and Corigin Private Equity Group. Corrigan Real Estate Group's core portfolio is student housing in New York City that was developed and leased to New York University. The company also owns properties in New Jersey and Florida. The company is led by Ryan Freedman as chairman and CEO. Freedman was previously chairman and CEO of Coalco New York.
CAMBRIDGE, MASS. — A joint venture between Canyon-Johnson Urban Funds, The HYM Investment Group and Atlas Capital Group have acquired the former Pan Am rail yard in Cambridge and plan to redevelop it into a transit-oriented, mixed-use project. The 44-acre site, which is being called Northpoint, is located across the Charles River from Massachusetts General Hospital. When complete, it will contain residential, commercial office, retail, hospitality and life sciences space surrounding a 10-acre park. The infrastructure is already in place, and a new Green Line MBTA station is set to open by 2015. Pan Am Railways is serving as an investment partner in the project.
BRANFORD, CONN. — The Geenty Group has completed the sale of a 25,000-square-foot flex building located in Branford for $1.3 million. The multi-tenant property is situated at 14 Business Park Drive within Branford Industrial Park. Its occupants include three medical tenants and one office tenant. The buyer, Commercial Building Associates, plans to renovate the building's 10,000 square feet of vacant space for new tenants. Kevin Geenty and Bill Clark of Geenty Group represented the buyer. Kristin Geenty, also of Geenty Group, represented the seller, Todds Hill Investment Circle.
BEDFORD, MASS., AND MONTGOMERY, N.Y. — Transwestern Realty Finance Partners has arranged $15 million in mezzanine financing for a three-property portfolio owned by Australia-based Real Estate Capital Partners USA Property Trust. The portfolio contains two office buildings located in Bedford and Montgomery. The third property is an industrial building located in Deerfield, Ill. Michael Girimonti of Transwestern arranged the transaction.
NEW YORK CITY — Forest City Enterprises has procured an $85 million loan for the refinancing of its 42nd Street entertainment retail property, which is located in the heart of Times Square. Tenants at the 312,000-square-foot property include AMC Theatres, Madame Tussaud's Wax Museum, Modell's, and Dave and Buster's. The loan carries a 10-year term and a fixed interest rate that is more than 325 basis points lower than the loan it replaces.
WHITE PLAINS, N.Y. — NAI Friedland has brokered the sale of a White Plains industrial building for $3 million. The single-story, 63,000-square-foot property is located at 179 Westmoreland Ave. The buyer, Westy's Self Storage, plans to demolish the building and construct a new self-storage facility. Andy Grossman of NAI Friedland represented Westy's as well as the seller, Westmoreland LLC.
NORTHBOROUGH, MASS. — IT provider Akibia Inc. has renewed its lease for 42,000 square feet at 20C Forbes Road in Northborough. J.R. McDonald and Stephen Woelfel of Cushman & Wakefield represented Akibia in lease negotiations. CB Richard Ellis represented the undisclosed landlord.
NEW YORK CITY — NorthMarq Capital has arranged $8.1 million in first-mortgage financing for a mixed-use building located in New York City. The five-story property is located at 111-113 E. 12th St. It contains approximately 10,000 square feet of retail and office space as well as 15 apartments. The loan carries a 7-year term and a 25-year amortization schedule. Charles Cotsalas of NorthMarq's Long Island office arranged the loan on behalf of the undisclosed borrower through StanCorp Mortgage Investors.
STONINGTON, CONN. — Zachry Nuclear Engineering is expanding its Connecticut facility with the signing of a new, long-term lease for a 67,651-square-foot building in Stonington. The company will relocate from its current facility in Groton to the new building, which is located at 14 Lords Hill Road, in 2012. It will renovate the building, a former manufacturing facility, into loft-style office and R&D space. Ted Harris of Studley represented Zachry in lease negotiations. Dan Barber of Northeast Property Group represented the landlord, Shermen Group.