NEW YORK CITY — Walker & Dunlop has arranged a $110 million loan for the refinancing of a portfolio of multifamily properties in New York City. The portfolio comprises 18 properties totaling 112 units and 29 commercial spaces that are located in areas such as Manhattan’s East Village neighborhood and Brooklyn’s Park Slope district. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Sean Bastian, Christopher de Raet, and Stanley Cayre of Walker & Dunlop arranged the loan, terms of which were not disclosed, through Hudson Bay Capital. The borrower was a partnership between Davean Holdings and Meadow Partners.
VESTAL, N.Y. — Georgia-based Landmark Properties will develop The Retreat at Bunn Hill, a 700-bed student housing project that will be located near the State University of New York (SUNY) Binghamton campus in Vestal. The 314,300-square-foot, cottage-style property will offer 161 units in 15 configurations ranging from two- to five-bedrooms with bed-to-bath parity. Shared amenities will include a 12,000-square-foot clubhouse, heated outdoor pool, fire pits, a fitness center and access to an off-campus shuttle bus. Landmark Construction, the in-house general contractor for Landmark Properties, will manage construction of the community, which is slated for a summer 2026 completion.
RANDOLPH, N.J. — Global investment and life insurance company Aegon Asset Management has provided a $7 million permanent loan for a 40,586-square-foot warehouse in the Northern New Jersey community of Randolph. The building at 11 Aspen Drive was completed in 2023, features a clear height of 36 feet and was fully leased at the time of the loan closing to two tenants: Red Bull and Dominion Solutions. Greg Nalbandian and Ben Morgenthal of JLL arranged the 11-year, fixed-rate loan on behalf of the borrower, a partnership between North Jersey Development Group and Commercial Realty Group.
NEWBURYPORT, MASS. — Marcus & Millichap has brokered the $4.2 million sale of a 38,500-square-foot industrial building in Newburyport, a northern suburb of Boston. The building at 11 Malcolm Hoyt Drive was originally constructed in 1986 and later expanded and was fully leased to Journeyman Press at the time of sale. Harrison Klein, Mattias Edenkrans and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
EWING, N.J. — Duck Duck Tooth Pediatric Dentistry has signed a 3,900-square-foot retail lease in Ewing, located just outside of Trenton. The space is located within the 355,000-square-foot Capitol Plaza shopping center, which is anchored by Marshall’s, Save A Lot, Planet Fitness, Dollar Tree and dd’s Discounts. Fred Younkin of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Jon Porter of CARR represented the tenant.
NEW YORK CITY — JLL has negotiated the $104.5 million sale of a 204-unit apartment building located in Manhattan’s Gramercy Park neighborhood. The seven-story building at 210-220 E. 22nd St. comprises 82 studios, 75 one-bedroom units, 39 two-bedroom residences and eight three-bedroom apartments. Amenities include a fitness center, resident lounge and onsite laundry facilities. Andrew Scandalios, Jeffrey Julien, Rob Hinckley and Steven Rutman of JLL represented the undisclosed seller in the transaction. The team also procured the buyer, a joint venture between New York-based Canvas Property Group, Declaration Partners and Tokyu Land US Corp. The property was 95 percent occupied at the time of sale.
PHILADELPHIA — Newmark has brokered the $59 million sale of a 450,000-square-foot industrial building in Philadelphia. The site at 6250 Baltimore Ave. is located on the city’s west side, and the facility features a clear height of 24 feet, 125-foot truck court depths, more than 80 loading docks and dedicated storage space and trailer parking. An affiliate of Velocity Venture Partners sold the property, which was 96 percent leased at the time of sale, with Ryan Guittare of Newmark brokering the deal. Newmark also arranged acquisition financing on behalf of the undisclosed buyer.
CARMEL, N.Y. — Diamond Point Development has broken ground on an 800-unit self-storage facility in Carmel, about 60 miles north of New York City in the Hudson Valley region. The multi-story facility will comprise 81,000 net rentable square feet of climate-controlled space. Diamond Point is developing the facility in partnership with Dallas-based Rosewood Property Co. Extra Space Storage will manage the property, which is expected to be complete in late 2025.
ALLENTOWN, PA. — Infinera (NASDAQ: INFN) has signed a nonbinding preliminary memorandum of terms to receive up to $93 million in funding under the CHIPS and Science Act, proceeds of which would be used to expand the California-based semiconductor manufacturer’s Lehigh Valley facility. Funding would also be allocated toward the expansion and modernization of the company’s Silicon Valley facility, and the projects could support the creation of as many as 1,700 manufacturing and construction jobs.
AMBLER, PA. — Stream Realty Partners has negotiated a 47,194-square-foot life sciences lease in Ambler, a northern suburb of Philadelphia. The space is located within Building 14B of Spring House Innovation Park, an office and life sciences campus that consists of 11 buildings totaling 600,000 square feet on 133 acres. Zach Leger of Stream represented the tenant, Nucleus Radiopharma Inc., in the lease negotiations. Matthew Knowles, Paul Touhey and Cody Lehrer of CBRE represented the undisclosed landlord.