Property Type

Prestige Group Arranges $42M Refinancing of Shopping Center Near Philadelphia

by Taylor Williams June 12, 2023

HUNTINGDON VALLEY, PA. — Pennsylvania-based finance and advisory firm Prestige Group has arranged $42 million for the refinancing of The Marketplace at Huntingdon Valley, a 259,000-square-foot shopping center located on the northwestern outskirts of Philadelphia. Grocer Weis Markets and LA Fitness anchor the center, which was built on 49 acres in 1993. Other tenants include Starbucks, Fine Wine & Good Spirits, Bertucci’s, Rite Aid, Dunkin,’ GNC and Hair Cuttery. Bob Cohen of Prestige Group arranged the financing, which consisted of a $25 million senior loan and a $17 million junior loan, through two undisclosed regional banks. The borrower was also not disclosed.

June 12, 2023

Loans Multifamily New York Northeast

BHI Provides $29.2M Construction Loan for Queens Multifamily Project

by Taylor Williams June 12, 2023

NEW YORK CITY — BHI, a full-service commercial bank that is the U.S. division of Israel’s Bank Hapoalim, has provided a $29.2 million construction loan for an 81-unit multifamily project that will be located at 138-45 Jamaica Ave. in Queens. About a third of the units will be reserved as affordable housing, although specific income restrictions were not disclosed, and the seven-story development will also include retail space. The borrower was an entity doing business as ZDJ Jamaica LLC. Completion is slated for the first quarter of next year.

June 12, 2023

Acquisitions Hospitality New York Northeast

Quadrum Global Acquires 147-Room Hotel in Brooklyn’s Williamsburg Area

by Taylor Williams June 12, 2023

NEW YORK CITY — Quadrum Global, the parent company of boutique hospitality brand Arlo Hotels, has acquired a 147-room property in Brooklyn’s Williamsburg area that was formerly operated as The Williamsburg Hotel. Upon rebranding, the hotel will be the fourth in New York City to operate under the Arlo brand. The eight-story hotel includes eight suites, a 10,000-square-foot rooftop pool and lounge and additional onsite food-and-beverage options. The opening of the rebranded hotel is slated for September.

June 12, 2023

Acquisitions Industrial New Jersey Northeast

Colliers Brokers Sale of 106,528 SF Industrial Property in Woolwich Township, New Jersey

by Taylor Williams June 12, 2023

WOOLWICH TOWNSHIP, N.J. — Colliers has brokered the sale of a 106,528-square-foot industrial property in Woolwich Township, located in the southern part of the Garden State. Regional investment firm Faropoint sold the asset to an affiliate of DH Property Holdings for an undisclosed price. Marc Isdaner and Ian Richman of Colliers brokered the deal. At the time of sale, the property was fully leased to Diversified Industries, a provider of foam and adhesive products.

June 12, 2023

Acquisitions Connecticut Healthcare Northeast

Jacobson Properties Negotiates $15.2M Sale of Healthcare Property in Danbury, Connecticut

by Taylor Williams June 12, 2023

DANBURY, CONN. — New York-based brokerage firm Jacobson Properties has negotiated the $15.2 million sale of Western Connecticut Medical Center South, a 39,566-square-foot healthcare property located in Fairfield County. An affiliate of Connecticut Eye Consultants leases the entire medical office building. An entity doing business as Western Connecticut Medical Center South LLP sold the asset to an undisclosed institutional investment firm. Lisa Menin of Jacobson Properties brokered the deal.

June 12, 2023

California Development Industrial Western

North Palisade Partners Acquires Industrial Development Site in Redlands, California for $44.5M

by Jeff Shaw June 12, 2023

REDLANDS, CALIF. — North Palisade Partners has acquired a nearly 17-acre site at 1101 California St. in Redlands for $44.5 million. The site previously housed a waterpark that closed in 2018. North Palisade plans to transform the space into a modern, Class A warehouse distribution facility. Hunter Warner of Lee & Associates represented the buyer and unnamed seller in the transaction.

June 12, 2023

Arizona Loans Retail Western

Gantry Arranges $53.4M Refinancing for The Village at Prasada Retail Center in Surprise, Arizona

by Jeff Shaw June 12, 2023

SURPRISE, ARIZ. — Gantry has arranged a $53.4 million permanent loan for the refinancing of the The Village at Prasada, a 700,000-square-foot, multi-phase retail center project in the Phoenix suburb of Surprise. The 7.5-year, fixed-rate loan will retire the construction debt for the first phase of the development, which comprises 308,640 square feet. Phase One was fully leased at the time of financing to tenants including Sprouts Farmers Market, Ross Dress for Less, HomeGoods, Marshalls, Ulta Beauty, Total Wine & More, PetSmart, T.J. Maxx and Floor & Décor. Tim Storey, Chad Metzger and Ryan Gross of Gantry secured the loan through an institutional global financial services firm on behalf of the undisclosed borrower.

June 12, 2023

Acquisitions Multifamily Seniors Housing Washington Western

SLIB Negotiates Sale of 93-Unit Seniors Housing Portfolio in Pacific Northwest

by Jeff Shaw June 12, 2023

SEATTLE — Senior Living Investment Brokerage (SLIB), a Chicago-based firm, has arranged the sale of three communities in the Pacific Northwest. The facilities offer a combined 93 units and 105 beds, and were built between 1991 and 1995. The buyer is a private owner-operator group out of Texas. The seller, price, names and locations were not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito and Matt Alley of SLIB handled the transaction.

June 12, 2023

California Development Office Western

TailoredSpace to Open 14,000 SF Coworking Site in San Juan Capistrano, California

by Jeff Shaw June 12, 2023

SAN JUAN CAPISTRANO, CALIF. — TailoredSpace is scheduled to open its newest location in San Juan Capistrano this September. The 14,000-square-foot space will be located at 27131 Calle Arroyo. TailoredSpace has targeted suburban communities with high per-capita income, easy freeway access and walkable retail amenities. TailoredSpace will be the first fully amenitized coworking operation in San Juan Capistrano, according to the company. This lack of supply has resulted in significant pre-leasing activity for the campus.

June 12, 2023

California Leasing Activity Life Sciences Western

IDEAYA Biosciences Leases 44,000 SF Office in South San Francisco

by Jeff Shaw June 12, 2023

SOUTH SAN FRANCISCO — IDEAYA Biosciences has leased 44,000 square feet of space at 5000 Shoreline Court in South San Francisco. The 140,000-square-foot, Class A building is situated on the bay in South San Francisco’s Sierra Point life sciences cluster. IDEAYA plans to move into the space in mid-2024. Chris Jacobs and Matt Jacobs of CBRE represented the landlord, DivcoWest, while Grant Dettmer and Scott Miller of JLL represented IDEAYA.

June 12, 2023

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