PORTLAND, CONN. — Kriss Capital, a New York-based private equity firm and bridge lender, has provided a $33.5 million construction loan for a 130-unit multifamily project in Portland, a southern suburb of Hartford. The four-story building will be part of a larger development known as Brainerd Place and will include 11,000 square feet of commercial space. John Harrington of HKS Real Estate Advisors arranged the loan on behalf of the developers, Bright Ravens Development and DiMarco Group. Completion is slated for spring 2026.
SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of a portfolio of two hotels totaling 320 units in Syracuse. The portfolio consists of the 197-room former Holiday Inn Syracuse Liverpool and the 123-room Staybridge Suites Syracuse Liverpool. Hotel amenities include indoor pools, business centers, fitness centers and complimentary airport shuttles. Jerry Swon and Eric Anton of Marcus & Millichap represented the seller in the transaction, and Swon also procured the buyer. Both parties requested anonymity.
NORTH BRUNSWICK, N.J. — Ace Pickleball Club will open a 26,000-square-foot venue in North Brunswick, located roughly midway between Trenton and Newark. The space is located within the 288,000-square-foot Brunswick Shopping Center. Fred Younkin of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Marta Villa of CBRE represented the tenant. An opening date has not yet been announced.
BOSTON — CBRE has brokered the sale of a 133-unit apartment complex located in the Dorchester Lower Mills area of Boston. The site originally housed the Baker Chocolate Factory, and the building was converted to residential usage in the 1980s and subsequently renovated in 2008. Units come in studio, one- and two-bedroom floor plans and have an average size of 793 square feet. Amenities include a fitness center and a business center. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, a partnership created and operated by Makor Capital LLC, in the transaction. The team also procured the buyer, an affiliate of Wingate Multifamily LLC.
SOMERSET, N.J. — NewPoint Real Estate Capital has provided $17.7 million in bridge-to-HUD financing for the acquisition of Brentwood Park, a 77-unit multifamily property located in the Northern New Jersey community of Somerset. Built in 2023, Brentwood Park consists of two four-story buildings that house studio, one- and two-bedroom units, as well as 3,125 square feet of commercial space. Matthew Meskill of NewPoint originated the financing, which was structured with a floating interest rate and a two-year initial term, on behalf of the undisclosed buyer. Adam Zweibel of Hudson Atlantic brokered the sale.
DERBY, VT. AND WALLINGFORD, CONN. — New Jersey-based financial intermediary Cronheim Mortgage has arranged the $9 million refinancing of two New England shopping centers. The first property is Shaw’s Plaza, an 80,193-square-foot, grocery-anchored center in Derby, Vt., that was originally built in 1968. The second property is Kohl’s Plaza, a 159,600-square-foot shopping center in Wallingford, Conn., that is also home to Aldi, Harbor Freight and Sally Beauty. Brandon Szwalbenst, Dev Morris and Andrew Stewart of Cronheim arranged the debt on behalf of the owner, National Realty & Development Corp. The direct lender was not disclosed.
WEST SPRINGFIELD, MASS. — Colliers has negotiated the $2.7 million sale of a 190,000-square-foot industrial building in West Springfield, about 90 miles west of Boston. The single-tenant building at 100 Palmer Ave. sits on 12.8 acres. According to LoopNet Inc., the property was built in 1920 and features seven dock-high loading doors and two grade-level loading doors. Christian Dietz and Bob Pagani of Colliers represented the seller, Westrock Container LLC, in the transaction. The buyer was JDZ Realty LLC.
NEW YORK CITY — The Kwenda Collegiate Girls Charter School has signed a 44,114-square-foot lease in Brooklyn. The turnkey space is located within the building at 2520 Church Ave. in the Flatbush area and was formerly occupied by St. Gregory The Great Catholic Academy. The school will first serve kindergarten and first grade students, with plans to expand through fifth grade and ultimately through eighth grade. Lindsay Ornstein, Jake Cinti and Kate Whitman of OPEN Impact Real Estate represented the school in the lease negotiations. William O’Brien of M.C. O’Brien Inc. represented the unnamed landlord.
NEW YORK CITY — NuVerse Advisors LLC has received a $99 million construction loan to convert The Emmet Building, a 17-story office building at 95 Madison Ave. in New York City, for residential use. The vacant property was originally constructed between 1911 and 1912 as a loft office building with grade-level retail space. The building will be converted into 65 residential condominiums across 108,000 square feet, along with 17,000 square feet of retail space and 3,400 square feet of office space. Internal demolition is currently in progress. However, an expected delivery date was not disclosed. The conversion is sponsored by NuVerse Advisors’ S3 Multi Strategy Global Fund, with Sunlight Development as a strategic partner and general contractor. BHI — the U.S. branch of Tel Aviv, Israel-based Bank Hapoalim BM — is the senior lender in the financing. Under the terms of the loan, BHI will provide $40 million of debt. The company has worked with several financial partners to arrange the remainder of the financing. “BHI was a trusted partner in financing the acquisition of this property this past summer and we’re thrilled to work together again now as we redevelop this property for residential use,” said Dov Schlein, managing …
BOSTON — Shawmut Design and Construction has topped out 100 South Campus Drive, a 276-unit student housing project that is located in the Allston area of Boston but will serve graduate students, faculty and staff at Harvard University, which is located across the Charles River in Cambridge. Designed by Marvel Architects, the project is part of a larger transformation of 175 N. Harvard St., the thoroughfare that connects Allston and Cambridge, and which includes the new home for the American Repertory Theater. The number of beds was not disclosed. Completion is slated for 2026.