JERICHO, N.Y. — J.S. Held, a global consulting firm based in Jericho, New York, has acquired Examine Construction Consultants, a firm with multiple offices in Canada that provides construction services on projects throughout North America and France. J.S. Held provides a range of real estate-related services, including property damage assessment, water and fire restoration consulting, equipment consulting and forensic architecture and engineering. Examine, which also has an office in Paris, joins a team that comprises more than 1,000 consultants around the world.
MANCHESTER, N.H. — Cornerstone Realty Capital has arranged a $13.6 million loan for the refinancing of a 242-unit multifamily portfolio in Manchester, located near the New Hampshire-Massachusetts border. The portfolio consists of 10 buildings offering a mix of studio, one-, two- and three-bedroom units, as well as several retail spaces. The nonrecourse loan was structured with a 10-year term and an unspecified period of interest-only payments. The borrower and direct lender were not disclosed.
NEW YORK CITY — Volastra Therapeutics, a biotechnology firm focused on treating cancer, has signed an 11,000-square-foot life sciences lease at the Mink Building in West Harlem. The space is located within the Manhattanville Factory District, a 1.1 million-square-foot office and life sciences campus. New York City-based Janus Property Co. owns the building.
NORWALK, CONN. — JLL has provided a $107.2 million Freddie Mac acquisition loan for The Waypointe, a 464-unit apartment community in Norwalk that also houses 56,000 square feet of retail and restaurant space. Units come in one-, two- and three-bedroom floor plans, and amenities include a fitness center, game room, saltwater pool and two parking garages totaling 1,027 spaces. Scott Aiese, Peter Rotchford, Alex Staikos and Brendan Collins of JLL arranged the loan on behalf of the borrower, Invictus Real Estate Partners. The Waypointe was 93 percent occupied at the time of the loan closing.
FLORHAM PARK, N.J. — Cushman & Wakefield has brokered the sale of a 168,144-square-foot office building located at 325 Columbia Turnpike in Florham Park, about 30 miles west of New York City. The three-story building is situated on 15 acres and offers amenities such as a recently renovated cafeteria and onsite tenant storage units. The property was 85 percent leased at the time of sale. Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Seth Zudiema represented the seller, Mack-Cali, in the transaction. The team also procured the buyer, Connecticut-based investment firm The Birch Group.
LONG ISLAND CITY, N.Y. — Locally based investment firm Botanic Properties has acquired a 97,047-square-foot flex building located at 24-02 Queens Plaza in the Long Island City area of Queens. Apex Technical School has occupied the entirety of the three-story building since 2012. Christopher Peck, Steve Klein and Thomas Pryor of JLL arranged a $24 million fixed-rate acquisition loan through MSD Partners on behalf of the borrower. The seller was not disclosed.
PHILADELPHIA — An affiliate of Aquinas Realty Partners LLC has received a $13.2 million loan for the refinancing of AQ Overbrook, a 128-unit multifamily asset in Philadelphia. The borrower acquired the property, which formerly served as a student housing complex for St. Joseph’s University, in 2018 and implemented a capital improvements program to reposition the asset as a market-rate apartment community. Cronheim Mortgage arranged the loan, which carries a five-year term and a fixed interest rate, through an undisclosed local bank.
NEW YORK CITY — Brandon Singer, formerly of Cushman & Wakefield, has launched Retail by MONA, a leasing and advisory firm that will serve New York City. MONA is an acronym for Making of a New Age. The company has strategic partnerships with property owners including Aby Rosen and Michael Fuchs, founders of RFR Holding. Singer will serve as CEO of the new entity, which will offer both tenant and landlord representation services. Michael Cody, also formerly with Cushman & Wakefield, will serve as director and co-founder.
BOSTON — HYM Investment Group has received approval from the Boston Planning and Development Agency (BPDA) for the redevelopment of Suffolk Downs, a 161-acre former thoroughbred horse track and racing facility, into a mixed-use district. Approved plans for the project include 10,000 residential units, 20 percent of which will be designated affordable housing; 40 acres of publicly accessible parks and open space; and 3 million square feet of office and retail space. HYM purchased the property in 2017 for $155 million and the racetrack officially closed in summer 2018. Thursday’s vote of approval marks the end of a three-year community review process, during which the company held over 450 meetings with community group members, elected officials and staff, and neighbors to hear and incorporate community feedback. HYM is now cleared to begin construction on the project, which might take up to 20 years to complete and will cost $8 billion, according to reports by WBUR, Boston’s NPR news station. Designs for the project also include the construction of a major extension of the Mary Ellen Welch Greenway, a public pathway and park in East Boston connecting Piers Park, Memorial Stadium, Bremen Street Park, Wood Island Bay Marsh and Belle Isle Marsh. …
BOSTON — International developer Skanska has topped out a new 118,000-square-foot building at Brookline High School by the MBTA Green Line Brookline Hills station in Boston. The building will include classrooms for physics, special education and general use, dedicated event space, dining and food service areas, a library, various collaboration spaces and room for general administrative work. Completion is slated for November 2021. In addition, Skanska is renovating an existing building to feature 70,000 square feet of biology and chemistry labs and classrooms, collaboration and maker spaces, a culinary arts kitchen and a student restaurant with café seating.