WALPOLE, MASS. — Washington Trust Bank has provided a $30 million loan for the refinancing of New Pond Village, a seniors housing community in the southern Boston suburb of Walpole. Situated on 19.4 acres, the property includes 167 independent living units and 17 assisted living units. The borrower was Benchmark Senior Living, which recently completed an $8 million renovation program at the property that included the addition of memory care services.
PARSIPPANY, N.J. — Newmark Knight Frank (NKF) has negotiated a 200,000-square-foot industrial lease at 100 Jefferson Road in Parsippany, located west of Newark, on behalf of Vitaquest International LLC, a manufacturer of nutritional foods. James Ritman and Trevor Patterson of NKF represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
NEW YORK CITY — Mission Capital Advisors has arranged a $15.2 million loan for The Box Factory, a former industrial building in Brooklyn that is being redeveloped into a 65,837-square-foot office and entertainment complex. Proceeds will be used to refinance construction debt and further redevelop the property. Jonathan More, Ari Hirt and Lexington Henn of Mission Capital arranged the financing on behalf of the project development team, which is led by Brickman Real Estate and Hornig Capital Partners. Construction began in 2018. Pine River provided the loan.
NEW YORK CITY — Knotel, a provider of flexible office space, has inked a deal to lease 12,500 square feet at 80 White Street in the Tribeca area of lower Manhattan. The company will occupy the third and fourth floors of the recently renovated building beginning in September. Gregory Gang and Catherine O’Toole of Lee & Associates represented the landlord, General Hardware Manufacturing Co., in the lease negotiations. Knotel now has more than 40 locations throughout New York City.
NEW YORK CITY — Chess Builders, a locally based developer, has received a $140 million construction loan for a mixed-use project located at 210 E. 135th St. in The Bronx. The project will consist of two 25-story towers housing 430 apartments, 129 of which will be rented at below-market rates, as well as 24 hotel rooms, 5,000 square feet of commercial space and 210 parking spaces. S3 Capital Partners, a New York-based private lender, provided the funds.
NEWARK, DEL. — Vesper Holdings has acquired The Retreat at Newark, a 597-bed student housing community located near the University of Delaware campus in Newark, for $48 million. The property offers a mix of one-, two-, four- and five-bedroom units. Shared amenities include a basketball court, clubhouse, fitness center, tanning beds, a golf simulator, outdoor grilling areas, a pool, hot tub and a computer lounge. TSB Realty brokered the sale of the property on behalf of an undisclosed seller. Vesper plans to invest $1 million in capital improvements in order to renovate shared amenity spaces as well as make exterior improvements and substantial technology upgrades throughout the property.
NEW YORK CITY — ABS Partners Real Estate has negotiated a 9,903-square-foot office lease at 2417 Third Ave. in the Mott Haven neighborhood of The Bronx on behalf of workforce development firm Grant Associates. Andy Udis and Alison Miller of ABS Partners represented Grant Associates, which also recently leased 7,000 square feet at 1825 Park Avenue in Harlem. Mitch Arkin of Cushman & Wakefield and Ellen Israel of JRT Realty represented the landlord, Savanna and Hornig Capital Partners.
PARAMUS, N.J. — WowMoms World, a family wellness concept that offers yoga, flotation therapy and massage therapy, will open a 6,200-square-foot store in Paramus, located north of Newark, this fall. The store will be the Canada-based franchise’s first location in the Garden State. David Townes and Alana Friedman of Cushman & Wakefield represented both the tenant and the landlord in the lease negotiations.
NEW YORK CITY — Arbor Realty Trust Inc. has provided a $4 million Freddie Mac small balance loan for the refinancing of a 13-unit apartment building located at 2402 Gerritsen Ave. in Brooklyn. Built in 1964 and recently rehabilitated, the property includes ground-floor retail space. Vincent Chiodo of Arbor’s New York office provided the loan, which carries a 10-year term and a 30-year amortization schedule. The borrower was not disclosed.
FRANKLIN TOWNSHIP, N.J. — Crow Holdings, the industrial development arm of Trammell Crow Co., has broken ground on Crow Holdings at Veronica Ave., a 925,000-square-foot speculative project in Franklin Township. The Class A property will be located between Trenton and Newark and is expected to open in the first quarter of 2020. Building features will include a clear height of 40 feet, 170 trailer parking spaces, 159 dock positions and 394 automobile parking spaces. Cushman & Wakefield will handle leasing of the facility.