Thursday, June 26, 2025
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Silk-Lofts-Bayonne-New-Jersey
LoansMultifamilyNew JerseyNortheast

Dwight Mortgage Trust Funds Two Loans Totaling $45M for Refinancing of New Jersey Apartment Complexes

by Taylor Williams

BAYONNE AND EAST BRUNSWICK, N.J. — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has funded two bridge loans totaling $45 million for the refinancing of a pair of apartment complexes in New Jersey. In the first transaction, Dwight Mortgage Trust provided $21 million in financing for Silk Lofts, an 85-unit apartment complex in the Northern New Jersey community of Bayonne that is a redevelopment of the former factory of women’s apparel retailer Maidenform. The property comprises nine studios, 49 one-bedroom units and 27 two-bedroom units. Amenities include a fitness center, package room and indoor and outdoor lounges. In the second deal, Dwight provided $24 million for Summerhill Gardens, a 96-unit property in the Central New Jersey community of East Brunswick. Summerhill Gardens offers amenities such as a fitness center, playground, pool table, indoor and outdoor lounges and outdoor grilling stations. About a quarter (24) of the residences are designated as affordable housing. The borrower on both deals was AMS Acquisitions.

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664-New-Loudon-Road-Latham-New-York
AcquisitionsNortheastRetail

IPA Brokers $26.9M Sale of Grocery-Anchored Shopping Center in Latham, New York

by Taylor Williams

LATHAM, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of $26.9 million sale of a 120,049-square-foot, grocery-anchored shopping center in Latham, located north of Albany. The center was built in 2010 and is home to tenants such as Petco and Crumbl Cookies in addition to grocery anchor The Fresh Market. Jim Koury of IPA represented the seller, Shaker Loudon Associates, which is an affiliate of Benderson Development, in the transaction. Koury also procured the buyer, an entity doing business as PCP Binghamton Associates LLC.

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LoansMultifamilyNortheastPennsylvania

Greystone Provides $20.8M Agency Loan for Refinancing of Lehigh Valley Multifamily Property

by Taylor Williams

ALLENTOWN, PA. — Greystone has provided a $20.8 million Fannie Mae loan for the refinancing of Wynnewood Greens, a 206-unit multifamily property located in the Lehigh Valley city of Allentown. Built in 1975, Wynnewood Greens comprises 18 three-story buildings that house one-, two- and three-bedroom units. Amenities include outdoor picnic areas and onsite laundry facilities. Avi Lifshitz and Aviel Hematian of Greystone originated the seven-year, nonrecourse loan, which was structured with a fixed interest rate and full-term interest-only payments. The borrower, S&S Properties, purchased the asset in 2008.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Arranges Sale of 59,687 SF Shopping Center in Yarmouth, Massachusetts

by Taylor Williams

YARMOUTH, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Yarmouth Shopping Center, a 59,687-square-foot retail property located near the base of Cape Cod. Grocer Stop & Shop anchors the center. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The property traded in conjunction with a 124,405-square-foot center in Stow, Mass., for a combined price of $26 million.

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63-67-Wall-Street
LoansMultifamilyNew YorkNortheast

Newmark Arranges $275M Loan for Refinancing of Lower Manhattan Apartment Complex

by Taylor Williams

NEW YORK CITY — Newmark has arranged a $275 million loan for the refinancing of 63-67 Wall Street, an apartment complex in Lower Manhattan that comprises 816 units across two buildings. The buildings were originally constructed for office use: 67 Wall Street was built in 1921 as the headquarters for the Munson Shipping Co., and 63 Wall Street was built in 1928 as the headquarters for Brown Brothers Harriman & Co. The buildings were converted into apartments in 2006 and 2004, respectively. Units come in studio, one- and two-bedroom floor plans, and amenities include a fitness center, rooftop terrace with a lounge and grilling stations, game room, golf simulator, library, children’s playroom and a business center. Jordan Roeschlaub, Nick Scribani and Chris Kramer of Newmark arranged the financing on behalf of the owner, a partnership between Boston-based real estate private equity firm Rockpoint and investment and management firm Brooksville Co. Apollo Global Management provided the loan. The partnership acquired the buildings in 2016 and has since invested in capital improvements.

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First-&-Market-Pittsburgh
Affordable HousingLoansMultifamilyNortheastPennsylvaniaSeniors Housing

KeyBank Provides $41.4M in Financing for Pittsburgh Affordable Seniors Housing Redevelopment

by Taylor Williams

PITTSBURGH — KeyBank has provided $41.4 million in financing for First & Market, an adaptive reuse project that will convert a former office building in downtown Pittsburgh into a 93-unit affordable seniors housing complex. The financing consists of a $27 million construction loan and a $14.4 million permanent loan. Units will be reserved for renters age 62 and above, with the majority (83) of residences reserved for individuals earning 50 percent or less of the area median income (AMI). The other 10 units will be earmarked for households earning 20 percent or less of AMI. Residents will have access to support services in technology education, healthcare education and coordination, financial literacy and mental and behavioral health. Seaver Rickert and Leslie Meyers of KeyBank originated the financing on behalf of the developer, Beacon Communities. Completion is slated for the third quarter of 2026.

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AcquisitionsConnecticutMultifamilyNortheast

NEPCG Negotiates $7M Sale of Cedar Glen Apartments in Norwich, Connecticut

by Taylor Williams

NORWICH, CONN. ­— Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $7 million sale of Cedar Glen, a 63-unit apartment complex in Norwich, located in southern coastal Connecticut. According to Apartments.com, the property was built in 1971 and offers one- and two-bedroom units as well as a pool. Brad Balletto of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsIndustrialMassachusettsNortheast

Sticks Investment Group Buys 27,000 SF Warehouse in Weymouth, Massachusetts

by Taylor Williams

WEYMOUTH, MASS. — Boston-based Sticks Investment Group has purchased a 27,000-square-foot warehouse in Weymouth, located south of the state capital. The building at 242 Libbey Industrial Parkway was constructed in 2004, features a clear height of 24 feet and was fully leased to three tenants at the time of sale. Michael Restivo, David Coffman and Tommy Hovey of JLL represented the buyer in the transaction. Fulcrum Real Estate Partners sold the building for an undisclosed price.

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Leasing ActivityNortheastPennsylvaniaRestaurantRetail

Brandywine to Open 13,000 SF Food Hall at Schuylkill Yards in Philadelphia

by Taylor Williams

PHILADELPHIA — Local REIT Brandywine Realty Trust will open a 13,000-square-foot food hall at its Schuylkill Yards mixed-use development in the University City area of Philadelphia. Gather Food Hall & Bar will feature six eateries and a bar and will be housed on the ground floor of the historic Bulletin Building at 3025 Market St., which was converted to a life sciences facility in 2021. Hospitality HQ, a platform operated by New York chef and restaurateur Akhtar Nawab, will operate the venue, which is scheduled to open in the fall.

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The-Whit-New-Haven
AcquisitionsConnecticutMultifamilyNortheast

Scully Co., True North Buy 230-Unit Apartment Complex in New Haven, Connecticut

by Taylor Williams

NEW HAVEN, CONN. — A partnership between two investment firms, Philadelphia-based Scully Co. and Connecticut-based True North Management Group, has purchased The Whit, a 230-unit apartment complex located in New Haven’s Wooster Square neighborhood. Built in 2022, The Whit offers studio, one-, two- and three-bedroom units with an average size of 892 square feet. Residences are furnished with stainless steel appliances, quartz countertops, tile backsplashes and individual washer and dryers, and all non-studio apartments have walk-in closets. Amenities include a fitness center with a yoga studio; a landscaped courtyard with a pool and fire pits; a rooftop terrace with bar and lounge seating; a clubroom with a coffee bar; a social dining room with a catering kitchen; and a coworking space with access to individual offices. The Whit also houses three retail spaces, two of which are leased to food-and-beverage operators. Jeffrey Dunne, Simon Butler, Biria St. John, Eric Apfel and Travis Langer of CBRE represented the undisclosed seller in the transaction and procured the partnership as the buyer. Tom Traynor, Adam Spengler, Nick Harris and Jake Helmig, also with CBRE, arranged acquisition financing for the deal through an undisclosed lender.

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