NEW YORK CITY — Locally based brokerage and financial advisory firm Ariel Property Advisors has arranged a $50 million loan for the refinancing of a portfolio of 13 multifamily properties in Manhattan. The names and addresses of the properties, which collectively total 330 residences and five commercial spaces, were not disclosed, but the locations are in the Chelsea, East Village, Kips Bay and Upper East and West Side neighborhoods. Matthew Dzbanek and Matt Swerdlow of Ariel originated the 10-year, nonrecourse loan, which carries a 5.38 percent fixed rate and 25-year amortization schedule. The borrower and direct lender were also not disclosed.
WALPOLE, MASS. — JLL has brokered the $26 million sale of an 85,159-square-foot industrial building in Walpole, about 30 miles southwest of Boston. The building at 295 Union St. is home to tenants such as Tesla, Home Depot and Goodyear and features a clear height of 40 feet and 450 car parking spaces. Michael Restivo, David Coffman and Tommy Hovey of JLL represented the sellers, Casco Real Estate Partners and Berkeley Partners, in the transaction. The buyer was San Francisco-based investment firm Stockbridge.
WAYNESBORO, PA. — CBRE has negotiates the sale of a 117,951-square-foot shopping center in Waynesboro, located in southern Pennsylvania near the Maryland border. Wayne Heights Mall was 92 percent leased at the time of sale, with German discount grocer Aldi serving as the anchor tenant. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE brokered the deal. The buyer, seller and sales price were not disclosed.
YONKERS, N.Y. — Online furniture retailer Wayfair will open a 114,000-square-foot store in Yonkers, located north of New York City. The store will be situated within Ridge Hill, a 1.3 million-square-foot mixed-use development, and is scheduled to open in early 2027. Adam Schwegman and Morgan Liesenfelt of Jamestown, which owns Ridge Hill in a joint venture with Nuveen Real Estate and Taconic Partners, represented ownership in the lease negotiations.
BRISTOL, PA. — New Jersey-based investment firm Faropoint has purchased a 60,000-square-foot industrial flex building in Bristol, a northeastern suburb of Philadelphia. The building, which sits on a 4.7-acre site within Keystone Industrial Park and offers a clear height of 26 feet, has been occupied by Estee Lauder for 30 years. The seller was undisclosed. Jeff Licht and Jared Licht of NAI Mertz brokered the deal.
MONTEBELLO, N.Y. — A partnership between owner-operator FilBen Group and Dallas-based private equity firm RSF Partners has completed Braemar at Montebello, a $54 million assisted living facility in New York’s Lower Hudson Valley region. The property spans 133,675 square feet and features one- and two-bedroom units with an average size of 500 square feet, as well as an array of entertainment- and wellness-based amenities. H2M Architects + Engineers designed the project, and McAlpine Contracting handled construction. Work on the project began in January 2023.
EAST SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of The Storage Mall, a 548-unit self-storage facility in East Syracuse. The site spans 7.5 acres and is situated adjacent to Syracuse International Airport, and the facility totals 57,775 net rentable square feet of space. Matt Junkin, Kevin Bledsoe and Jared Houck of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
IRONDEQUOIT, N.Y. — Local financial intermediary Largo Capital has arranged a $17.3 million bridge loan for Culver Ridge Plaza, a 291,000-square-foot shopping center located outside of Rochester in Irondequoit. The center is home to tenants such as Marshalls, Burlington and Five Below. Kevin Ross and Michelle Colosimo of Largo Capital arranged the loan through Bank of America. The borrower, an undisclosed global investment firm, will use the proceeds to refinance existing debt and fund capital improvements.
JERSEY CITY, N.J. — Kessler Rehabilitation Center will open a 125,000-square-foot office and clinic at the Harborside mixed-use campus in Jersey City. The space spans the top two floors of Building 6 and can support creative office, production studio, medical and retail uses. Jamie Drummond, Dan Reider and John Crawford of Newmark represented the landlord, American Equity Partners, in the lease negotiations. A tentative opening date was not announced.
ENGLEWOOD CLIFFS, N.J. — New Jersey-based owner-operator Garden Communities is underway on construction of Phase I of The Sylvan, a 112-unit multifamily project that will be located across the Hudson River from New York City in Englewood Cliffs. Phase I will exclusively offer three-bedroom units. Preleasing is set to begin this fall. Additional details on the project were not disclosed.