PORTLAND, ORE. – Lot 1 of Riverscape Development, a 1.5-acre parcel on Portland’s riverfront, has sold to Holt Distressed Property Fund for an undisclosed sum. The fund had previously purchased four additional lots in the Riverscape Development during summer 2011. The site is designated for residential mixed-use development.Charlie Kleier, Robert Black and Sierk Braam of NAI Norris, Beggs & Simpson represented both the buyer and the unnamed seller in this transaction.
MILFORD, CONN. — Institutional Property Advisors has arranged the sale of two portfolios in Milford to separate investors for a combined $72.4 million. Perpetual Real Estate Partners LP purchased Spinnaker Wharf, Spinnaker Walk and Spinnaker Square for $31.8 million. The portfolio overlooks Milford Harbor and features 107 rental units and 38,963 square feet of retail space. Wolff Enterprises II LCC acquired Spinnaker Brook, Spinnaker Chase, Spinnaker Crest, Spinnaker Green, Spinnaker Hunt and Spinnaker Station for $40.6 million. The portfolio includes 228 rental units and 8,731 square feet of commercial space.
NEW YORK CITY — A six-building portfolio of mixed-use properties in downtown Manhattan has sold for $19.2 million. The buildings include 122 Nassau St., a 5,480-square-foot property; 20 John St., a 5,952-square-foot retail property; 53 Nassau St., a 3,044-square-foot building; 8-10 Liberty Ave., a 4,900-square-foot building; and 20 Beaver St., a 6,760-square-foot building. All of the buildings, with the exception of 20 Beaver St., are situated in the epicenter of the Financial District. Bob Knakal and Nick Petkoff of Massey Knakal represented both parties in the transaction.
SHAKOPEE, MINN. — Arizona-based Liberty Property Trust has purchased two buildings at Park 2000 in Shakopee, Minn., south of Minneapolis. The first property, Park 2000 Phase II located at 5555 12th Ave. E., is a 128,172-square-foot office building and is fully leased to S.W. Anderson Co., My Pillow and North American Membership Group Inc. The second property, Park 2000 Phase IV located at 1150 Gateway Drive, is a 153,454-square-foot industrial building and is fully leased to Logistics International LLC. LNR Partners was the seller. Terms of the deal were not disclosed.
WASHINGTON, D.C. — Washington, D.C.-based MAC Realty Advisors LLC has placed $11 million in equity for acquisition and development of 2251 Wisconsin Ave., an existing commercial building in the Glover Park neighborhood of Washington, D.C., on behalf of Altus Realty Partners. Additionally, MAC placed a $28 million limited-recourse senior construction loan for the transaction. Altus Realty Partners, Chesapeake Realty Partners and Ellisdale Construction will renovate the existing 30,000 square feet of retail space currently occupied by Washington Sports Club and Glover Park Hardware, and build an 81-unit residential building with a two-level garage.
WASHINGTON, D.C. — A 3,990-square-foot mixed-use property in Washington, D.C.’s Dupont Circle neighborhood has sold for approximately $1.4 million. The property is located at 1502 21st St. and is fully leased. Josh Feldman and Peggy Brooks Smith of Marcus & Millichap’s Washington, D.C. office represented the seller, a private investor. The buyer, also a private investor, was secured and represented by David Weber of Marcus & Millichap’s Washington, D.C., office.
NEW YORK CITY — Marcus & Millichap has arranged the $5.5 million sale of 157 Bleecker St., a 5,100-square-foot mixed-use property in New York City. Barbara Dansker and Zach Ziskin of Marcus & Millichap represented the seller, a limited liability company. They also secured and represented the buyer, a developer.
NEW YORK CITY — Centurion Realty, Imperium Capital and Crown Acquisitions have acquired 120 Prince St., a mixed-use building in New York City, for $20 million. Located between Wooster and Canal streets, the building consists of 1,750 square feet of ground-floor retail space and 1,750 square feet of residential space. Crown purchased a 50 percent stake in the property, while Imperium and Centurion together own the remaining 50 percent.
NEW YORK CITY — Property Group Partners has entered a joint venture with Romanoff Equities to develop 860 Washington Street, a 120,000-square-foot office and retail development in Manhattan. The venture plan to break ground in the third quarter of 2013, and completion is slated for 2015. James Carpenter Design Associates designed the 10-story property. Douglas Harmon, Adam Spies and Josh King of Eastdil Secured facilitated the transaction.
NEW YORK CITY — Bleecker Square Realty Corp. has sold 228 Bleecker St., a 28-unit mixed-use building in Manhattan's West Village for $18.7 million. The 16,205-square-foot building includes 25 apartment units, and three retail units, currently occupied by a restaurant, a cupcake shop and a wireless phone store. John Stewart of Marcus & Millichap represented the seller in the transaction. Marcus & Millichap also represented the buyer, a New York-based real estate investor.