PITTSBURGH — An affiliate of San Antonio-based investment firm LYND Group has acquired Kelly Hamilton Apartments, a 110-unit affordable housing complex in Pittsburgh. The 21-building property is located in the city’s Homewood South neighborhood and offers one-, two- and three-bedroom floor plans. LYND, which plans to implement a capital improvement program, purchased the property through a bankruptcy proceeding in the U.S. Bankruptcy Court for the District of New Jersey.
EAST HANOVER, N.J. — Resource Realty of Northern New Jersey (RRNNJ) has negotiated a 158,440-square-foot industrial lease in East Hanover, about 25 miles west of New York City. The tenant, J&J’s Tri-State Delivery Service, will occupy the entire building at 903 Murray Road, which is located within the 1.2 million-square-foot Ridgedale Industrial Park. Tom Consiglio and Scott Peck of RRNNJ represented the undisclosed landlord in the lease negotiations. John Friedland of United Realty Advisors represented the tenant.
WATERTOWN, MASS. — Labshares has signed a 58,000-square-foot life sciences lease in Watertown, a western suburb of Boston. The operator of shared lab facilities will occupy space at 66 Galen St., a newly completed, 225,000-square-foot facility that is part of a larger campus. Bob Richards, Ben Coffin and Sam Crossan of JLL represented the landlord, a partnership between The Davis Cos. and Boston Development Group, in the lease negotiations. Crossan also represented Labshares.
NEWARK, N.J. — Walker & Dunlop has arranged a $250 million financing package for 22 Fulton Street, a multifamily project that will be located within a Qualified Opportunity Zone in Newark’s Military Park neighborhood. The package consists of nearly $119 million in financing that comprises a construction loan, 4 percent Low-Income Housing Tax Credit (LIHTC) equity and LIHTC bridge loan that was provided by the Urban Investment Group at Goldman Sachs Alternatives. The package also includes $20 million in preferred equity and a $100 million forward commitment for a permanent loan, both of which were provided by undisclosed institutional lenders. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella, Michael Ianno and Jackson Irwin of Walker & Dunlop arranged the financing on behalf of the borrower and developer, a partnership between SK Development and Berger Organization. The 21-story building will have 396 units, 20 percent of which (80 residences) will be reserved for households earning 60 percent or less of the area median income, as well as 4,700 square feet of retail space. Units will come in studio, one- and two-bedroom floor plans. Construction is expected to commence in the coming months and to be complete in 2028.
NEW YORK CITY — CBRE has negotiated a 17-year, 128,749-square-foot office lease renewal and expansion at 55 Water Street, a 4 million-square-foot complex in Lower Manhattan. The tenant, financial services provider GFI Group Inc., has renewed its lease for 63,756 square feet across the entire 10th floor and committed to an additional 64,993 square feet across the entire 11th floor. Howard Fiddle, Bradley Gerla, Evan Haskell and William Hooks of CBRE represented the owner, New Water Street Corp., in the lease negotiations. Jared Horowitz and Hal Stein of Newmark represented GFI Group, which has been a tenant at the complex since 2007.
WILLOW GROVE, PA. — Regional development and investment firm DH Property Holdings has purchased an industrial complex in Willow Grove, located north of Philadelphia, for $5.2 million. The facility at 850 Davisville Road houses a 36,597-square-foot warehouse with a clear height of 18 feet, 10 drive-in doors and 81 car parking spaces, as well as 1.1 acres of rentable outdoor storage space. The facility was fully leased to six tenants at the time of sale. Scott Mertz of NAI Mertz represented DHPH in the off-market transaction.
WATERTOWN, MASS. — NanoDx has signed a 20,908-square-foot life sciences lease in Watertown, a western suburb of Boston. The diagnostics company is taking space at 66 Galen St., a newly completed, 225,000-square-foot facility that is part of a larger campus. Stefan Frey of Commonwealth Commercial Advisors represented NanoDx in the lease negotiations. Bob Richards, Ben Coffin and Sam Crossan of JLL represented the landlord, a partnership between The Davis Cos. and Boston Development Group.
NEWARK, N.J. — Data security firm Sphere Technology Solutions will open a 17,000-square-foot office in Newark. The space is located at 3 Gateway, a 500,000-square-foot, newly repositioned building that is one of four within a 2.3 million-square-foot campus known as The Junction. Jamie Ragucci and Hope Brodsky of Newmark represented the tenant in the lease negotiations. Curtis Foster, Jerry Shifrin and Matt Zaplin of Cushman & Wakefield represented the landlord, Rugby Realty.
EASTHAMPTON, MASS. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $9.7 million sale of Mill 180, a 96,200-square-foot mixed-use building in the Central Massachusetts city of Easthampton. The building is a conversion of a historic mill structure, the initial redevelopment of which took place in 2005. Mill 180 now consists of 25 apartments and 60,000 square feet of retail space. Tim McGeary and Taylor Perun of NEPCG represented the seller, local developer Michael Michon, in the transaction and procured the buyers, private investor Jay Patel and associates.
CHESTER, PA. — A partnership between regional development firm DH Property Holdings and New York City-based DRA Advisors has acquired a 63,080-square-foot industrial complex in Chester, located just southwest of Philadelphia. Th sales price was $6.5 million. The facility at 950 Township Line Road includes a 40,080-square-foot warehouse and a 15,000-square-foot service facility and was fully leased to three tenants at the time of sale. Steve Italiano of Italiano Commercial Real Estate Services represented the undisclosed seller in the transaction.