NEW YORK CITY — First Citizens Bank has provided a $74 million loan for the refinancing of a 160-unit apartment building in downtown Brooklyn. The 23-story building at 310 Livingston St. features one- and two-bedroom units and amenities such as a fitness center, outdoor grilling and dining stations, a recreation room, speakeasy, library, private dining room and a sky lounge. The property also includes ground-floor retail and restaurant space. The borrower was locally based developer Lonicera Partners.
TEANECK, N.J. — Alfred Sanzari Enterprises has begun the renovation of a 351-room Marriott-branded hotel in the Northern New Jersey community of Teaneck. The hotel, which opened in 2018, is located within the locally based development and investment firm’s 670,000-square-foot Glenpoint mixed-use development. The multimillion-dollar project will update the Glenpoint Marriott’s 39,317 square feet of meeting and event space with new carpeting, wall coverings, paint and furniture. Completion is slated for the fall. The design team includes HotelStudio and Kimmerle Newman Architects.
DOVER, N.H. — Colliers has brokered the $5 million sale-leaseback of a 44,232-square-foot warehouse and distribution building that sits on an eight-acre site at 111 Venture Drive in Dover, about 70 miles north of Boston. According to LoopNet Inc., the single-tenant property was built in 1993 and features a clear height of 14.5 feet and two dock-high loading doors. David Choate and Abby Bachman of Colliers represented the seller and tenant, Merchandise Central LLC, in the transaction. The duo also procured the buyer, an affiliate of Vermont-based developer Redstone.
BURLINGTON, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Middlesex Marketplace, a 38,243-square-foot shopping center in Burlington, a northern suburb of Boston. Built in 2013, the property was 89 percent leased at the time of sale to tenants such as Smith & Wollensky, Visionworks, Ideal Image and AFC Urgent Care. Justin Smith, Chris Peterson and Matt Ericson of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
CHESAPEAKE, VA. — Dollar Tree has acquired designation rights for 170 leases of 99 Cents Only Stores across Arizona, California, Nevada and Texas. This deal was completed through two transactions in May that were approved by the U.S. Bankruptcy Court for the District of Delaware. As part of the transactions, Dollar Tree also purchased the intellectual property of 99 Cents Only Stores and select on-site furniture, fixtures and equipment. In April, California-based 99 Cents Only Stores filed for Chapter 11 bankruptcy and initiated a process to dispose of its assets, including its inventory, owned real estate and store leases. Dollar Tree anticipates beginning to open some of the shuttered 99 Cents Only Stores under the Dollar Tree brand as early as this fall.
SAN BERNARDINO, CALIF. — Affinius Capital has provided $58.2 million in financing to Dalfen Industrial for the acquisition of Hallmark Distribution Center, a Class A industrial building in the Inland Empire city of San Bernardino. Situated on 15 acres at 4982 Hallmark Parkway, the 340,000-square-foot facility features 32-foot clear heights, two drive-in doors, 47 dock-high doors, 135 truck courts and 62 dedicated trailer parking spaces, as well as additional trailer parking. The rear-loading industrial building was built in 2018. The seller and price were not disclosed.
SAN JOSE, CALIF. — PMB and Santa Clara Valley Healthcare (SCVH) have announced plans for Valley Health Center San Jose (VHC San Jose), a 10-story medical office building in San Jose. The development is slated for completion in late 2025. Located at 1410 S. Bascom Ave., the 230,000-square-foot facility will have 16 departments offering healthcare for adult medicine, OB/Gyn subspecialties, adult urgent care, behavioral health, dental, diagnostic imaging, facility support services, maternal and fetal medicine, patient support services, pediatric primary care, pediatric subspecialties, pediatric urgent care, pharmacy, specimen collection lab and administration. VHC San Jose is located near Valley Transport Authority’s forthcoming Bascom Station and an under-construction, 590-unit residential project. The project team for VHC San Jose includes WRNS Studio and Boulder Associates as architects, South Bay Construction as general contractor, Harrison Street as equity partner and Capital One as the lead bank.
OCEANSIDE, CALIF. — JLL Capital Markets has arranged a $5.1 million loan for a joint venture between Westview Real Estate and Pace Properties for the refinancing of an apartment property in Oceanside, approximately midway between Los Angeles and San Diego. Chris Collins and Emily Pohlman of JLL Capital Markets’ debt advisory team secured the three-year, fixed-rate loan through a regional bank. Located at 330 S. Horne St., the 21-unit property consists of 17 original units that were built in 1970 and renovated in 2023, as well as four newly constructed accessory dwelling units. Averaging 715 square feet, the units offer new kitchens with modern appliances and renovated bathrooms with high-end fixtures. On-site amenities include a surf shower, secure electric bike parking, a common area grill and Los Angeles-inspired artwork throughout the community.
LAS VEGAS — M&R Office has completed the sale of an office building, located at 10781 W. Twain Ave. in Las Vegas, to a private investor for $2.4 million. Marc Magliarditi, Travis Landes and Michael Hsu of CBRE represented the seller in the transaction. Built in 2006, the 4,176-square-foot office building is situated in the master-planned community of Summerlin. The building’s existing floor plan provides efficiency and flexibility for a variety of uses.
WOODBURY, MINN. — CBRE has negotiated the sale of The Barrington, a 282-unit multifamily property in the Minneapolis suburb of Woodbury. The sales price was undisclosed. The property is located at 7255 Guider Drive near I-494, Woodbury Village shopping center and Tamarack Nature Preserve, a 150-acre city park. Built from 1998-2001, the community features a range of one- and two-bedroom floor plans averaging 932 square feet. Amenities include two heated pools, two community rooms, a fitness center in each building, cybercafe and dog park. Keith Collins, Abe Appert, Ted Abramson and Danny Baker of CBRE represented the seller, Tilden Fundamental Barrington Apartments LLC. The buyer was Nuveen Global Investments LLC.