YORK, PA. — Bulls Capital Partners has provided $7.5 million in refinancing for Stonewood Village Townhomes in York. The multifamily facility comprises 144 apartment units situated within 18 townhouse style buildings. Mark Van Kirk of Bulls Capital and Steve Arnold of Columbia National Real Estate originated the loan on behalf of the borrower, Victory Realty Group. Funding was provided by Fannie Mae.
Northeast
CLIFTON, N.J. — Dean Marchi and Charles Berger of CB Richard Ellis have completed the $3.49 million sale of 137-141 Center St., a 36-unit apartment complex in Clifton. The complex was 100 percent occupied at the time of the sale. The buyer and seller were undisclosed. The buyer purchased the property as part of a 1031 exchange.
MORRISTOWN, N.J. — Rosewood, a joint venture between Roseland Property Co. and Woodmont Properties, has broken ground on The Highlands at Morristown Station in Morristown. The project will be situated on 3.5-acre former commuter parking lot at the Morristown Train Station. The mixed-use development will feature a five-story building with 217 apartment units, 8,000 square feet of ground floor retail space, 6,000 square feet of amenity space and a five-story, 722-space parking garage. The $72 million project is slated for completion in 2010. The garage is slated for completion in 2009. Roseland will manage and lease the facility once it is complete.
MILFORD AND EAST HARWICH, MASS., AND NASHUA, N.H. — Linear Retail Properties has purchased three retail properties in Milford, East Harwich and Nashua. Milford Square in Milford contains 50,205 square feet spanning four single-story buildings and was purchased for $7.27 million. Retail tenants include AT&T Wireless, Curves for Women and HoneyDew Donuts. Amherst Street Village, located at 550 Amherst St. in Nashua, was purchased for $9.73 million and includes 48,300 square feet of retail. The three-building retail center includes two single-tenant buildings leased to Walgreen’s and PetSmart, and a 12,800-square-foot strip center with eight tenants. Christopher Angelone and Leslie Farasci of CB Richard Ellis represented the seller, Regency Centers, in the transaction. Colliers Meredith & Grew has been retained by Linear to provide property management services.
FOXBOROUGH, MASS. — Robert Tito and Gina Barroso of NAI Hunneman have brokered the $7.15 million sale of Hamilton Square in Foxborough. The 61-unit, seven-building complex is located at 135 Chestnut St. The facility contains seven ranch-style units and 54 townhome-style residences. Situated on 4.45 acres, the property totals 57,740 rentable square feet. Tito and Barroso represented the seller, Oak Ridge Apartments Limited Partnership, and procured the buyer, Universal Realty Corp.
BOSTON — W Hotels Worldwide plans to open the W Boston Hotel & Residences in Boston. Located in the city’s theater district, the property will feature 235 guestrooms and 123 private residences. Developed by Sawyer Enterprises, the project is slated to open in 2009.
SOUTH BRUNSWICK, N.J. — Christopher Marx and Daniel Foley of Studley have negotiated a 256,390-square-foot lease in South Brunswick on behalf of the leasee, VSE Corp. The warehouse facility is situated on a 19.63 acre site at 111 Herrod Blvd. just off Exit 8A of the New Jersey Turnpike. The owner, Forsgate Industrial Partners was represented in-house by Catherine Argenio and Alex Klatskin.
NEW YORK CITY — David Johnson and Alan Miller of Eastern Consolidated have negotiated the $12 million sale of a four-building package located in the High-Line district in Manhattan, New York City. Located at 197-199 Tenth Ave., the property allows for approximately 25,000 buildable square feet with 50 feet of frontage. The buyer, Peter Moore of PMA Associates, is evaluating the possibility of constructing a boutique hotel, a condominium or both with high-end retail on the ground floor. Eastern Consolidated procured the buyer, and the seller, the Wynne Family, represented itself in the transaction.
MARLBOROUGH, MASS. — CB Richard Ellis has completed the sale of the 274-unit Jefferson at Wheeler Hill in Marlborough. The multifamily facility sits on 56 acres at 21 Austen Way. It is adjacent to interstates 495 and 290 and is in close proximity to the Route 95/128 corridor, the 193/Route 3 corridor and the Route 495 corridor. Amenities include a fitness center, a two-story clubhouse and a resort style swimming pool. Paul Donahue, Travis D’Amato and Malcolm McComb of CB Richard Ellis represented the seller, RREEF Real Estate, and procured the buyer, Steven D. Bell & Company. The sale price was undisclosed.
MINEOLA, N.Y. — Harold D. Baker & Co. has arranged $5.5 million in financing for a CVS ground lease in Mineola. The leased property is a 1.31-acre site at the intersection of Jericho Turnpike and Roslyn Road. CVS plans to construct a 12,900-square-foot building on the property. The loan was funded by RiverSource Life Insurance Co.