NEW YORK CITY — JLL has arranged a $221.8 million bridge loan through JP Morgan to finance a retail portfolio in the Williamsburg neighborhood of Brooklyn. Jonathan Schwartz, Aaron Appel, Michael Diaz and Sean Baillie of JLL secured the three-year, interest-only loan on behalf of owners RedSky Capital and JZ Capital Partners. The portfolio consists of 15 retail properties located on North 6th Street and Bedford Avenue. Three of the properties on North 6th Street are fully leased to a tenant roster that includes Urban Outfitters, Vans, Everlane and Aland. The remaining properties are in the process of being improved and leased.
ATLANTIC HIGHLANDS, N.J. — Berkadia has secured a $51.9 million acquisition loan for Thousand Oaks Village, a garden-style multifamily community in Atlantic Highlands. Bob Falese and Jeff Heath of Berkadia secured the financing through Freddie Mac on behalf of the borrower, Delaware-based 165 Thousand Oaks Drive LLC. The borrower plans to renovate and upgrade all units at the property. Berkadia utilized the Freddie Mac Mod Rehab Loan Program, allowing the borrower to have a floating rate during the renovation period that will automatically convert to a fixed rate upon the completion of renovations. Located at 165 Thousand Oaks Drive, Thousand Oaks Village features one-, two- and three-bedroom floor plans. Amenities include air conditioning, large closets, hardwood floors and private patios.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a vacant, five-story retail building in the Soho neighborhood of Manhattan for $46.7 million. Henri Kessler and Nelson Lee of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor. Located at 446-448 Broadway, the cast-iron building was developed by architect John B. Snook in 1877.
HAVERHILL, MASS. — Yannios Real Estate Investment Sales has brokered the $3.5 million sale of Highland Maple Apartments, a 39-unit apartment community built in 1850. The property, which comprises two three-story buildings, is located at 3-5 Maple Ave. in Haverhill, 35 miles north of Boston. Yannios Real Estate represented the seller, 3-5 Maple Ave. LLC, in the transaction. The buyer was Kuma Realty.
PHILADELPHIA — Real Estate investment firm Dalzell Capital Partners has acquired a four-property multifamily portfolio in Center City, Philadelphia for $18.7 million. The 65-unit portfolio consists of all newly built or renovated communities. The properties are The Bradford, a 26-unit property located at 507 S. 8th St.; Queen Village Lofts, a 16-unit former school conversion located at 427 Monroe St.; 1311 Spruce, a 16-unit property located at 1311 Spruce St.; and 1310 Spruce, a seven-unit property located directly across the street from 1311 Spruce at 1310 Spruce St. Alterra Property Group sold the portfolio to Dalzell Capital Partners.
BOSTON — CommonWealth Partners has acquired the Pier 4 office building in Boston’s seaport district from developer Tishman Speyer for $450 million. The 372,372-square-foot property sold for $1,208 per square foot, the highest ever for a Boston office property, according to Tishman Speyer. Located at 200 Pier 4 Blvd., the building was designed by Elkus Manfredi Architects of Boston and completed in May 2018. Pier 4 currently serves as the global headquarters for the Boston Consulting Group, educational content and technology services company Cengage Learning, and equity manager Man Numeric. “From the beginning, the Pier 4 site presented Tishman Speyer with a unique opportunity to create Boston’s finest modern mixed-use development,” says Jessica Hughes, managing director of Tishman Speyer. “We thank the City of Boston, the Commonwealth of Massachusetts, and the very dedicated waterfront community for sharing our vision for this property and working with us to bring that vision to full realization.” Amenities at Pier 4 include harbor views, a roof terrace, fitness center, bicycle storage and three levels of parking. Tishman Speyer is currently developing the final phases of the Pier 4 project, which will include a nine-story condominium building and one-acre public waterfront park. The Pier 4 …
MONTAUK, N.Y. — HFF has brokered the sale of Atlantic Terrace, a 96-room, full-service beach resort in Montauk. The sales price was not disclosed. The resort is located at 21 Oceanview Terrace and features oceanfront views with direct beach access, outdoor swimming pool and fitness center. KC Patel, Daniel C. Peek and Manuel de Zárraga of HFF represented the private seller in the transaction. Bridgeton Holdings purchased the property unencumbered of existing management.
NEW YORK CITY — The Manhates Group has negotiated the $9.3 million sale of a 10-unit multifamily building in the Chelsea neighborhood of Manhattan. The 9,375-square-foot property is located at 445 W. 21st St. Michael Sherman of The Manhates Group represented the buyer, ECA New York Real Estate Advisors, in the transaction. Houlihan-Parnes Realtors represented the undisclosed sellers.
EDISON, N.J. — Avanath Capital Management has acquired Menlo Manor, a 240-unit affordable senior housing community in Edison. Avanath acquired the property through its institutional fund, Avanath Affordable Housing III. The five-story property was built in 1980 and features a community room, exterior courtyard, library, dining area, community kitchen and automatic front doors. Located at 161 Inman Ave., the community includes a mix of studios, one-, and two-bedroom units. Alex Medeiros of CBRE represented the seller, Jeff Spragens.
SOUTH BRUNSWICK, N.J. — Cushman & Wakefield has secured a 450,000-square-foot, full-building lease for moving services provider Clutter at 1065 Cranbury South River Road in South Brunswick. The newly constructed facility is a speculative development by IDI Logistics. Andrew Stypa and Daniel Badenhausen of Cushman & Wakefield represented Clutter in the transaction. Cushman & Wakefield’s Jason Goldman, Andrew Siemsen and Marc Petrella represented IDI Logistics. Clutter will move into the facility by the end of Summer 2018.