CHICOPEE, MASS. — NorthMarq has arranged a $7 million Freddie Mac loan to refinance Montcalm Heights Apartments, a 192-unit multifamily property in Chicopee, located approximately 35 miles north of Hartford. The permanent fixed-rate loan was provided on a 10-year term with a 30-year amortization schedule. The property comprises two four-story buildings with studio, one- and two-bedroom apartments. Amenities include a pool, laundry facilities, picnic area and tenant storage units. Robert Ranieri of NorthMarq arranged the loan for a Freddie Mac borrower.
NEW YORK CITY — A partnership between Charney Construction & Development and Tavros Holdings is nearing completion of The Dime, a 350,000-square-foot mixed-use project in Brooklyn. The tower incorporates the Dime Savings Bank building, originally constructed in 1908, into a mixed-use development featuring 177 residential units, more than 100,000 square feet of office space and 50,000 square feet of ground-floor retail space. Amenities include an acre of outdoor space, a basketball court and a 10,000-square-foot rock climbing gym recently leased by MetroRock. Fogarty Finger is the architect of the project.
NEW YORK CITY — Seagis Property Group has acquired two industrial properties totaling 101,000 square feet in New York City. The first property, a 75,000-square-foot warehouse in Queens, features 25-foot ceiling heights and 19 exterior loading docks and has been re-tenanted. The second property, a 26,000-square-foot warehouse, features a 5,000-square-foot secured yard and is fully occupied. The sellers and sales prices were undisclosed.
ROCKAWAY, N.J. — Atlantic Health System has purchased Morristown Medical Center Health Pavilion, a 92,326-square-foot medical office building in Rockaway, located approximately 35 miles west of New York City, for $26 million. The building opened in 2016, and the Atlantic Health System was the sole occupant at the time of sale. JLL’s Jose Cruz and Ben Appel represented the seller in the transaction.
IRWIN, PA. — The Knapp Group, a division of Marcus & Millichap, has brokered the $7.5 million sale of two seniors housing properties in Irwin, located approximately 20 miles southeast of Pittsburgh. Combined, the communities comprise 95 units of independent living and assisted living. One of the properties was built in 1999 and the other in 1959. The names of the facilities were not disclosed. The seller was a physician within the community looking to retire from the seniors housing business. A local owner-operator acquired the communities for $7.5 million. Joseph Knapp of the Knapp group represented the seller.
NEW JERSEY — CBRE has arranged the $8.27 million sale of nine civic properties from the Youth Consultation Services (YCS) portfolio in New Jersey. The properties comprise a mix of youth centers and schools located in Montclair, Hackensack, Newark, Somerdale, Gloucester, Estell-Manor, Vineland and Blackwood. Three different buyers purchased the assets, one of whom bought seven buildings as part of a sale-leaseback with YCS. The two other buyers purchased buildings that had been recently vacated by YCS. CBRE’s Charles Berger and Elli Klapper, along with Randy Eigen and Donald Sperling of Brokerage Services, represented the seller in the transaction.
BOSTON — A partnership between American Campus Communities (ACC) and Northeastern University has opened LightView, an 825-bed student housing community in Boston. The 20-story development offers four-bedroom units with shared or private accommodations. Amenities include social and recreational lounges, a fitness center, 24-hour academic success center and 2,000 square feet of retail. ACC will own and operate the building. The project — designed by CUBE 3 and Elkus Manfredi Architects — was fully leased prior to opening.
STRATFORD, CONN. — Angel Commercial LLC has negotiated a 76,000-square-foot industrial lease in Stratford, located approximately 50 miles southwest of Hartford. The property features one drive-in door and three dock doors. The tenant, Unger Enterprises Inc., is a manufacturer of professional cleaning and maintenance tools. Brett Sherman of Angel Commercial represented Unger in the transaction. The landlord is Exeter Property Group.
LONG ISLAND, N.Y. — CBRE has announced the sale of Hawthorne Court, a 434-unit multifamily community on Long Island. The property was built in 1968 and offers studio, one-, two- and three-bedroom units. Shared amenities include onsite laundry and gym facilities and a pool. CBRE’s Jeffrey Dunne, Gene Pride and Travis Langer represented the seller, a joint venture between Post Road Group and Spruce Capital Partners, in the transaction. The CBRE team also procured the buyer.
TRUMBULL, CONN. — Resort Lifestyle Communities (RLC) will soon break ground on River Valley, an independent living seniors housing property in Trumbull, located approximately 50 miles southwest of Hartford. The 180,000-square-foot community will offer one- and two-bedroom units, though the number of units is not yet disclosed. The property will provide cooking, cleaning and valet parking services, as well as fitness classes and community events. River Valley will be the second RLC location in Connecticut.