LUBBOCK, TEXAS — Coldwell Banker Commercial Capital Advisors has brokered the sale of San Remy Apartments, a 100-unit complex in the West Texas city of Lubbock. The five-building complex was built on 3.5 acres in 1973 and was 96 percent occupied at the time of sale. Chase Tucker and Taylor Tucker of Coldwell Banker represented the seller, a limited liability company, in the transaction. A private investment group purchased the asset for an undisclosed price.
NEW YORK CITY — Walker & Dunlop has arranged a $100 million loan for the refinancing of JFK Logistics Center, a 423,000-square-foot industrial property in Queens that is fully leased to Amazon. The multi-story facility sits on 10.7 acres and features a clear height of 36 feet, 16 loading positions and two floors of parking. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Mo Beler arranged the debt on behalf of the borrower, a partnership between Wildflower Ltd. and Amstar. J.P. Morgan Investment Management provided the loan.
BOSTON — Electra America Hospitality Group, a division of Florida-based private equity firm Electra America, has acquired Kimpton Nine Zero, a 190-room boutique hotel in downtown Boston. The new ownership plans to implement a $15 million capital improvement program and to rebrand the property as the Hotel AKA Boston Common. The deal traded off-market, and the seller and sales price were not disclosed.
BOSTON — JLL has negotiated the sale of a 164-room Courtyard by Marriott hotel in South Boston. The six-story building was constructed in 2005 and offers a fitness center, business center, onsite restaurant, 625 square feet of meeting and event space and a 6,000-square-foot retail space. Alan Suzuki and Matthew Enright of JLL represented the seller, Pennsylvania-based Hersha Hospitality Trust, in the transaction. The buyer and sales price were not disclosed.
NORRISTOWN, PA. — Colliers has brokered the $22.5 million sale of a 262,000-square-foot community service center located at 1430 Dekalb Ave. in Norristown, a northwestern suburb of Philadelphia. The 3.1-acre site of the five-story building was formerly home to Sacred Heart Hospital and includes a parking deck. Eric Grad of Colliers, in conjunction with CBRE and local brokerage firm Flynn Co., represented the seller in the transaction. Both parties involved requested anonymity.
WALTHAM, MASS. — Veeco, a New York-based manufacturer of semiconductors and electronics, has signed a 16,506-square-foot life sciences lease at 130 Turner Street, a 270,000-square-foot facility located in the western Boston suburb of Waltham. Matt Malatesta, Mike Frisoli, Tyler McGrail, Margaret Fee and Eric Jeremiah of Newmark represented the landlord, Jumbo Capital, in the lease negotiations. Malatesta also represented the tenant.
ST. LOUIS PARK, MINN. — Atlantic Capital Partners has arranged the sale of The Shops at West End, a 381,804-square-foot shopping center located southwest of downtown Minneapolis in St. Louis Park. An undisclosed buyer purchased the property for $64.8 million. Duke Realty Corp. developed The Shops at West End in 2009. The center, which was 81 percent leased at the time of sale, features 36 retail tenants as well as office space. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic worked with Kris Schisel and Anthony Strauss of Transwestern to arrange the transaction. The seller was also undisclosed.
CHICAGO — Chicago-based commercial real estate investment services firm Interra Realty has arranged the sale of a three-building, 130-unit multifamily portfolio in Chicago’s Hyde Park neighborhood. The properties included in the portfolio are located at 5454 S. Everett Ave., 5501 S. Everett Ave. and 5527 S. Everett Ave. The portfolio sold for an undisclosed price. The three buildings comprise 52 one-bedroom units, 60 two-bedroom units and 18 retail spaces. The rental units were approximately 95 percent occupied at the time of sale. All three properties are served by the Metra Electric and South Shore lines, as well as multiple Chicago Transit Authority bus routes. Interra’s senior managing partner, Joe Smazal, represented the seller, an affiliate of the Chicago-based Tricap Residential Group. The brokerage firm’s managing partner, Patrick Kennelly, and director, Paul Waterloo, represented the undisclosed, private West Coast-based buyer.
MERRIAM, KAN. — JLL Capital Markets has brokered the sale of Merriam Town Center, a 363,076-square-foot open-air retail center located at 8800 Johnson Drive in Merriam, approximately 10 miles southwest of Kansas City. Built in 1998, the property was 97 percent leased at the time of sale. Tenants include The Home Depot, Dick’s Sporting Goods, Cinemark, Ross Dress for Less and PetSmart. Amy Sands and Michael Nieder of JLL represented the undisclosed seller in the transaction. The R.H. Johnson Co. acquired the property for an undisclosed price.
COLUMBUS, OHIO — The Columbus Metropolitan Housing Authority (CMHA) has acquired Copperleaf Apartments, a 108-unit affordable housing multifamily development in Columbus for $8.1 million. Built in 1989, the property sits on eight acres located off Sawmill Road on the city’s Northwest Side. The seller was a partnership of companies headed by local developers Don Kelley and Robert Weiler. Columbus Housing Enterprise (CHE), a newly formed nonprofit, has entered into a 75-year lease to operate the community on behalf of CMHA, ensuring the apartment complex will remain affordable for lower-wage-earning families, senior citizens and people with disabilities for the long run. According to The Columbus Dispatch, the nonprofit will target prospective renters making 80 percent or less of area median income, which is $52,500 for one person and $74,950 for a four-person household. Data from the Affordable Housing Alliance of Central Ohio (AHACO) shows only 29 affordable housing units are available for every 100 extremely low-income households in the Columbus and Franklin County area. AHACO estimates 54,000 low- and moderate-income households in Franklin County pay more than half their income toward housing costs. Central Ohio also faces a deficit of 11,000 to 14,000 new housing units every year to support a healthy housing …