OMAHA — NorthMarq Capital has arranged the $7.3 million refinancing of Oakview Medical Building, a 48,360-square-foot office property in Omaha. The building is located at 2725 S. 144th St. Gary Rifkin and Jason Kinnison of NorthMarq Capital’s Omaha office structured the 10-year loan, which includes a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
HOUSTON — Cousins Properties Inc. has arranged a 230,000-square-foot lease extension for Stewart Information Services Corp. at Post Oak Central in Houston. Stewart’s lease, scheduled to expire in September 2016, was extended for three years to September 2019. Stewart is a provider of title insurance and other real estate services based in Houston. Post Oak Central is an office complex located at 2000, 1980 and 1990 Post Oak Boulevard. The complex includes 1.3 million square feet of Class A office and retail along with a parking garage.
HOUSTON — HFF has arranged the sale and acquisition financing of 3000 Post Oak, a 441,523-square-foot Class A office building in Houston’s Galleria submarket. HFF marketed the property on behalf of the seller, a joint venture between an affiliate of Five Mile Capital Partners LLC and Crocker Partners. FG Asset management purchased the property. The 19-story property is 100 percent leased to Bechtel, an engineering and construction firm. Jeff Hollinden, Dan Miller and Trent Agnew led HFF’s investment sales team representing the seller.
BOSTON — HFF has placed a $150 million mortgage on 125 Summer St., a Class A office tower in Boston’s Financial District. Located along the Rose Kennedy Greenway, the 475,303-square-foot, transit-oriented property offers access to the MBTA and commuter rail lines via South State Station. Additionally, the 22-story property features below-grade parking for 273 vehicles, a Bright Horizons daycare and a Starbucks. HFF worked on behalf of the borrower, Oxford Properties Group, to secure the fixed-rate loan through Guggenheim Commercial Real Estate Finance LLC. Oxford acquired the property as part of a larger officer portfolio in September. Riaz Cassum, John Fowler and Patrick McAneny of HFF represented the borrower in the transaction.
CAMBRIDGE, MASS. — Roseview-PMRG Fund I has acquired 100 CambridgePark Drive, a Class A office building located in Cambridge, from Transatlantic Investment Management. The five-story, 135,572-square-foot property sold for $41.5 million. Constructed in 1992, the brick-clad office building features 27,100-square-foot floor plates and is leased to various tenants, including Cambridge Systematics, Cambridge Savings Bank, ICF International and Modo Labs. Roseview-PMRG plans to invest several million dollars to reposition the property, including renovating the lobby and other common areas. Roseview-PMRG Fund I is a $250 million discretionary fund formed by PM Realty Group and The Roseview Group in July 2014 to acquire and reposition office properties across the United States. The acquisition of 100 CambridgePark is the fund’s first purchase.
NORWALK, CONN. — NorthStar Real Estate Income II has originated a $41 million senior loan for a newly constructed data center in Norwalk. Constructed in 2014 as a build-to-suit, the state-of-the-art data center features more than 167,000 square feet of rentable space. Additionally, the property is 100 percent master leased, with a 21-year net lease, to an affiliate of Cervalis LLC, a provider of information technology infrastructure solutions. The loan is the third transaction completed between the borrower, a commercial real estate owner and operator, and investment vehicles sponsored by NorthStar Asset Management Group Inc., NorthStar Income II’s sponsor. The three transactions total more than $137 million.
PHOENIX — BH Properties has acquired the Plaza at Squaw Peak, a 428,000-square-foot office complex in Phoenix, for $25 million. The complex is located directly off Route 51 at North 16th Street and East Morten Avenue in the Camelback Corridor. The three-building complex is situated on 24.1 acres that also offers future redevelopment opportunities. The Plaza’s current tenant base includes law firms, financial service providers, administrative users, engineering firms, call centers, medical service providers, marketing agencies and title companies. BH Properties has been extremely active in the Southwest market over the past year. It also recently acquired the 159,000-square-foot Gilbert Town Square shopping center; the 180-unit Papago Crossing multifamily property; the 103,082-square-foot Islands Shopping Center; the 64,744-square-foot Ross Plaza retail center; and a 62,000-square-foot warehouse. The unnamed seller had purchased the Plaza as part of a portfolio. Acquisition financing was provided by Opus Bank. Rachelle Strole, Jason Hersker, Stephen Herman, Rachael Cisco and Scott Smith of Capital Asset Management represented both the buyer and seller in this transaction.
CARLSBAD, CALIF. — Hines Interests Limited Partnership has purchased a 161,310-square-foot manufacturing/R&D building that is leased to Acushnet Company for $23.3 million. The building is located at 2819 Loker Ave. East. The golf-related company recently extended its lease at the center through the end of July 2019. It has been a tenant here for more than 15 years. Acushnet Company is composed of the Titleist, FootJoy, Pinnacle and Scotty Cameron brands. The property was built in 1998. It is situated along Palomar Airport Road. Hines represented itself in the transaction, while the seller, JP Morgan Chase, was represented by Aric Starck and Rick Reeder of Cassidy Turley.
CHICAGO — NelsonHill has arranged the $2.8 million sale of a 100,000-square-foot building in Chicago’s Jefferson Park neighborhood. The Chicago Transit Authority (CTA) purchased the property located at 5353 W. Armstrong Ave. CTA will use the site to expand its area bus depot. The property features three interior docks, one exterior dock and one drive-in door. The building is situated on nearly four acres, is located in the Elston/Armstrong TIF Corridor, and is in close proximity to the I-90 and I-94 expressways. Mark Nelson and Michael Nelson of NelsonHill represented the seller, a New York-based cab company. Hugh Murphy of JLL represented the CTA.
NEW YORK CITY — Avison Young has arranged the sale of United Cerebral Palsy of New York City’s (UCP of NYC) former program center at 122 East 23rd St in Manhattan. Toll Brothers purchased the property for $135 million, or $750 per square foot. The asset includes a land parcel and an existing four-story, 60,000-square-foot building. The property offers a total of 180,000 square feet of development rights with zoning that allows for residential, retail and community uses. Jon Epstein, Vincent Carrega, Neil Helman and Charles Kingsley of Avison Young’s New York City-based capital markets team represented UCP of NYC and identified the buyer in the transaction.
