Northeast

Avison Young Arranges $31.5M Refinancing for Apartment Community in White Plains

by David Cohen August 2, 2018

WHITE PLAINS, N.Y. — Avison Young has arranged a $31.5 million refinancing for The Metro, a 124-unit apartment community in White Plains. The 12-story property is located in downtown White Plains at 34 S. Lexington Ave. David Krasnoff and Ryan Flannery of Avison Young arranged the financing package on behalf of the owner, Ginsburg Development Cos., a private real estate developer. The lender was undisclosed. Ginsburg recently acquired two buildings on the same block as The Metro and is currently redeveloping the area into a new project called City Square, which will include retail, office and residential space.

August 2, 2018

Acquisitions Connecticut Multifamily Northeast

Northeast Private Client Group Orchestrates $35M Sale of Multifamily Community in Stamford

by David Cohen August 2, 2018

STAMFORD, CONN. — Northeast Private Client Group has arranged the $35 million sale of The Moderne Apartments, a 116-unit, two-building multifamily community in Stamford. The sales price equates to a capitalization rate of 5.4 percent based on the first year of net operating income. Bradley Balletto, Rich Edwards and Jeff Wright of Northeast Private Client Group represented the seller, RMS Cos., in the transaction. The buyer was Navarino Acquisitions LLC.

August 2, 2018

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Brokers $6.4M Sale of Multifamily Portfolio in Plainfield, New Jersey

by David Cohen August 2, 2018

PLAINFIELD, N.J. — Gebroe-Hammer Associates has brokered the $6.4 million sale of a four-building, 56-unit multifamily portfolio in Plainfield. The properties include 1003 Park Ave., 122-124 E. 7th St., 128 E. 7th St. and 138 E. 7th St. Adam Zweibel of Gebroe-Hammer represented the seller, Plainfield MF LLC., in the transaction. The buyer was undisclosed.

August 2, 2018

Loans New Jersey Northeast Office

G.S. Wilcox & Co. Secures $7.2M Refinancing for Office Building in New Jersey

by David Cohen August 2, 2018

BLOOMFIELD, N.J. — G.S. Wilcox & Co. has secured $7.2 million in refinancing for a 76,192-square-foot office building in Bloomfield. The seven-story property is located in the central business district of Bloomfield. Gretchen Wilcox, David Fryer and Wesley Wilcox of G.S. Wilcox & Co. arranged a 10-year term and 25-year amortization through Securian Financial for an undisclosed borrower.

August 2, 2018

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Negotiates $3.6M Sale of Net-Leased Day Care Center in Delran

by David Cohen August 2, 2018

DELRAN, N.J. — Marcus & Millichap has negotiated the sale of a 10,000-square-foot net-leased retail property in Delran. The property, which is occupied by a day care franchisee, sold for $3.6 million. Michael Lombardi and Greg Babaian of Marcus & Millichap represented the seller, a private investor, in the transaction. The seller was undisclosed.

August 2, 2018

Acquisitions Massachusetts Northeast Office

NKF Capital Markets Brokers $96.5M Sale of Office Building in Needham, Massachusetts

by David Cohen August 1, 2018

NEEDHAM, MASS. — NKF Capital Markets has brokered the $96.5 million sale of a 247,542-square-foot office building in Needham. The property, located at 89 A Street, is approximately 12 miles southwest of Boston. The recently renovated building features a two-story lobby, two interior courtyards, a cafeteria and a fitness center. NKF Capital Markets represented the sellers, Normandy Real Estate Partners and Westbrook Partners, in the transaction. MetLife Investment Management purchased the property. The global headquarters of SharkNinja, a household cleaning and kitchen appliance company, anchors the building.

August 1, 2018

Acquisitions Multifamily New York Northeast

Dane Real Estate Negotiates $17M Sale of Two-Building Multifamily Portfolio in Harlem

by David Cohen August 1, 2018

NEW YORK CITY — Dane Real Estate has negotiated the $17 million sale of the Paul Robeson Houses, a two-building residential portfolio located in Central Harlem. The Paul Robeson Houses are comprised of two residential buildings with a total of 80 residential units. The buildings are both Section 8 properties. Dane Real Estate represented the undisclosed seller in the transaction. LIHC Investment Group purchased the portfolio.

August 1, 2018

Loans Massachusetts Northeast Retail

Fantini & Gorga Secures $10.2M Financing for Two Retail Properties Near Boston

by David Cohen August 1, 2018

LEXINGTON AND WALTHAM, MASS. — Fantini & Gorga has secured $10.2 million in permanent financing for two retail properties in Lexington and Waltham. The Lexington property was built in 2010 and is located at 46 Bedford St. It features 6,698 square feet of retail space, which is fully leased to a tenant roster including Qdoba and People’s United Bank. The property in Waltham was built in 2013 and is located at 1019 Trapelo Road. It features 9,442 square feet of retail space with a tenant roster that includes Starbucks and PhysiciansOne Urgent Care. Fantini & Gorga arranged the long-term, fixed-rate loan for a local real estate investor and developer through a regional financial institution.

August 1, 2018

Acquisitions Healthcare Northeast Pennsylvania

Geisinger Health Systems Acquires Mt. Pleasant Medical Center in Scranton for $6.4M

by David Cohen August 1, 2018

SCRANTON, PA. — Geisinger Health Systems has acquired the Mt. Pleasant Medical Center, a 30,750-square-foot medical office building in Scranton for $6.4 million. Geisinger purchased the property from a private partnership. Healthcare Real Estate Group, Marcus & Millichap and Hinerfeld Commercial RE represented both parties in the transaction. Located at 521 Mt. Pleasant Drive, the property was built in 2011 and is fully occupied by a tenant roster that includes Commonwealth Health Physician Network, LabCorp and Valley Oral & Maxillofacial Surgery PC.

August 1, 2018

Acquisitions New Jersey Northeast Office

HFF, Transwestern Arrange $5M Sale of Office Building in New Jersey

by David Cohen August 1, 2018

MORRISTOWN, N.J. — HFF and Transwestern have arranged the $5 million sale of a 20,000-square-foot office building in downtown Morristown. Located at 62 Elm St., the three-story building was built in 2006 and features a brick façade, flexible floorplates and 40 parking spaces. HFF and Transwestern represented the seller, Cornerstone Family Programs, in the transaction. A private buyer purchased the property.

August 1, 2018

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