REBusinessOnline

Taconic, TH Real Estate Acquire Office Building in Manhattan for $269M

NEW YORK CITY — A partnership between Taconic Investment Partners LLC and TH Real Estate has acquired 440 Ninth Avenue, a 411,000-square-foot office building in Manhattan, for $269 million. The property, known locally as the Harding Building, is located at Ninth Avenue and West 35th Street near the Hudson Yards mixed-use development on Manhattan’s west side. The 18-story building was originally constructed in 1927 and currently includes retail space. The seller was UNIZO Holdings Co. …

Acquisitions, New York, Northeast, Office

HFF Arranges $41.5M Acquisition Loan for Industrial Facility in New Jersey

EDISON, N.J. — HFF has arranged a $41.5 million loan for the acquisition of Middlesex Logistics Center, a 507,000-square-foot warehouse and distribution center in Edison. Built in 2014, the fully leased property features 36-foot clear heights, 101 loading docks and parking for 190 cars and 135 trailers. The property is located at 549 Mill Road, approximately 35 miles southwest of New York City. Jon Mikula and Andrew Zilenziger of HFF represented the borrower, Cohen Asset Management in the …

Industrial, Loans, New Jersey, Northeast

UC Funds Celebrates Grand Opening of Residence Inn Stamford Downtown in Connecticut

STAMFORD, CONN. — UC Funds has cut the ribbon on the newly completed Residence Inn Stamford Downtown. Located at 25 Atlantic St., it is the first hotel in Stamford to offer extended-stay lodging. UC funds acquired the property in 2017 and completed construction of the project. The eight-story, 156-room hotel opened Nov. 21. The Marriott-franchised hotel is managed by Urgo Hotels & Resorts. The Residence Inn features apartment-style accommodations and more than 2,000 square feet of meeting …

Connecticut, Development, Hospitality, Northeast

Marcus & Millichap Brokers Sale of 50,590 SF Retail Property in Delaware

MILLSBORO, DEL. — Marcus & Millichap has brokered the sale of Nanticoke Crossing, a 50,590-square-foot retail property in Millsboro. The sales price was undisclosed. The fully occupied property is anchored by supermarket chain Weis Markets. Nanticoke Crossing was the first shopping center developed along the John G. Williams Highway retail corridor in Millsboro. Chris Burnham and Dean Zang of Marcus & Millichap represented the seller, a local family, in the transaction. The buyer was …

Acquisitions, Delaware, Northeast, Property Type, Retail

PGIM Provides $9.9M HUD Financing Package for Retirement Campus in Maine

FALMOUTH, MAINE — PGIM Real Estate Finance has originated a financing package totaling $9.9 million for OceanView at Falmouth, an 80-acre seniors housing campus in the Portland suburb of Falmouth. Sea Coast Management Co. owns the property, which features 42 custom-designed homes, 57 cottages, 118 independent living apartments and a 30-bed memory care facility. The financing includes two HUD healthcare loans and each is for a different property on the campus. A $4.4 million loan will be …

Loans, Maine, Multifamily, Northeast, Seniors Housing

CIBC Provides $31.1M Construction Financing for Condominium Development in Chicago’s Wicker Park

CHICAGO — CIBC Bank USA has provided $31.1 million in construction financing for 43 luxury condominium units and 12 townhomes in Chicago’s Wicker Park. The development is named Alcove M.D.P. for its proximity to Milwaukee Avenue, Division Street and Paulina Street. Vermilion Development is the developer. The seven-story condominium building will include units averaging almost 2,000 square feet. Units start at $600,000. The 12 four-bedroom townhomes, each attached with garages, are sized …

Illinois, Loans, Midwest, Multifamily

Cushman & Wakefield Arranges Sale of 151-Unit Apartment Property in Indianapolis

INDIANAPOLIS — Cushman & Wakefield has arranged the sale of The Coil Apartments in Indianapolis for an undisclosed price. The 151-unit apartment property, located at 6349 N. College Ave., includes a 33,500-square-foot retail space occupied by Fresh Thyme Farmers Market. Todd Stofflet, Jason Stevens and Susan Tjarksen of Cushman & Wakefield represented the sellers, Sheehan Cos. and Browning Investments. RDG Funds purchased the

Acquisitions, Indiana, Midwest, Multifamily

Keystone Construction Completes Renovation of UniGroup Headquarters in Fenton, Missouri

FENTON, MO. — Keystone Construction has completed the renovation of UniGroup’s headquarters in Fenton. UniGroup, the parent company of multiple transportation-related companies, is offering excess office space for lease. The campus totals approximately 450,000 square feet and is situated near the interchange of I-270 and I-44. The multi-million dollar renovation included upgrades to the HVAC system, roof, façade, windows, workout facility and cafeteria. Keystone Construction served as …

Development, Industrial, Midwest, Missouri, Office

Essex Brokers Sale of Apartment Building in Chicago for $24.5M

CHICAGO — Essex Realty Group Inc. has brokered the sale of The Northland Apartments in Chicago’s Old Town neighborhood for $24.5 million. The luxury apartment building comprises 60 units and one restaurant, Two Lights Seafood & Oyster. Amenities include a dog run and rooftop deck. Monthly rents start at $1,700. Jim Darrow and Jordan Gottlieb of Essex represented the seller, local developer JAB Real Estate. Kate Verde of Essex represented the out-of-state buyer who was completing a 1031 …

Acquisitions, Illinois, Midwest, Multifamily

Marcus & Millichap Negotiates $3.7M Sale of Property Occupied by DaVita Dialysis in Illinois

SOUTH HOLLAND, ILL. — Marcus & Millichap has negotiated the $3.7 million sale of a 9,703-square-foot property occupied by DaVita Dialysis in South Holland, about 20 miles south of Chicago. The facility, located at 16110 LaSalle St., opened in 2016. DaVita operates under a 15-year, double net lease. Valerie Cook, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the undisclosed seller. An out-of-state buyer completing a 1031 tax-deferred exchange purchased the

Acquisitions, Healthcare, Illinois, Midwest
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