MERIDEN, CONN. — Greystone has provided an $11 million Fannie Mae loan for the refinancing of The Kennedy Building, a 135-unit multifamily property in Meriden, located roughly midway between Hartford and New Haven. The property was built in 1921 and offers studio, one- and two-bedroom units. Dan Sacks of Greystone originated the 10-year, nonrecourse loan, which carried a fixed interest rate, 30-year amortization schedule and seven years of interest-only payments. The borrower was Kennedy Holdings Inc.
CORONA, CALIF. — Berkadia Institutional Solutions has brokered the sale of Hills of Corona, a garden-style multifamily community in Corona. A private Los Angeles-based investor acquired the asset for an undisclosed price. Located at 2365 S. Promenade Ave., Hills of Corona features 248 one- and two-bedroom floor plans with walk-in closets, dishwashers, private balconies or patios and in-unit washers/dryers. Community amenities include a clubhouse, fitness center, two swimming pools, a business center and spa. Derrk Ostrzyzek, Rachel Parsons and Tom Moran Jr. of the Southern California Berkadia Institutional Solutions team handled the transaction. The name of the seller was not released.
WALNUT CREEK, CALIF. — Newmark has completed the sale of Midtown Plaza, an urban retail center in the Bay Area city of Walnut Creek. The asset traded for an undisclosed amount. Nicholas Bicardo, Rick Steffens and Cheyne Bloch of Newmark represented the undisclosed seller, while L&B Realty Advisors represented the buyer, an institutional client. The 24,867-square-foot property is located at 1410-1444 N. California Blvd. and 1620-1630 Cypress St. and includes a surface parking lot. At the time of sale, the shopping center was 100 percent leased to a variety of food, home improvement and service retail tenants, including Galpao Gaucho Brazilian Steakhouse and Premier Bath & Kitchen.
NEW YORK CITY — Sprinklr (NYSE: CXM), a provider of customer management software, has signed a 23,623-square-foot office lease at Hudson Commons in Manhattan. The company will occupy the entire 12th floor of the 25-story, 697,960-square-foot building. Evan Haskell, Ben Joseph, James Ackerson and Howard Fiddle of CBRE, along with internal agents Ian Gaffney and Taber Brown, represented the landlord, CommonWealth Partners, in the lease negotiations. Nick Farmakis and David Goldstein of Savills represented Sprinklr.
COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. Inc. has received Low-Income Housing Tax Credit (LIHTC) financing for the development of five new affordable housing communities in North Carolina, Michigan, Iowa, Virginia and Illinois. The North Carolina Housing Finance Agency allocated $1.2 million for Pender Crossing, a 48-unit community to be built in Wilson, N.C. Plans call for three walkup buildings with amenities such as a fitness center, computer room, playground and covered pavilion. Raleigh-based TightLines Designs is the architect. In Marquette, Mich., Woda Cooper will partner with the Keweenaw Bay Indian Community to develop Black Rock Crossing, a 50-unit general occupancy multifamily development. The Michigan State Housing Development Authority allocated $1.4 million in tax credits for the project. Grand Rapids-based PCI Design Group is the architect. Construction is expected to begin in April. The Iowa Finance Authority awarded $1.1 million in LIHTC financing for Alley Landing, a 40-unit project in Des Moines. The community will include eight Permanent Supportive Housing homes for veteran households experiencing homelessness. Hooker DeJong is the architect. Virginia Housing allocated $1.4 million in tax credits for Bains Pointe, a 50-unit development in Portsmouth, Va., named after Eliza Bains who was instrumental in helping slaves gain freedom …
SAN DIEGO — JLL Capital Markets has arranged $28 million in construction take-out financing for Casa Verde, an urban infill multifamily property in San Diego’s North Park neighborhood. The borrower is Champion Real Estate Investments. Olga Walsh and Jack Wood of JLL Capital Markets secured the nonrecourse, floating-rate bridge loan for the borrower. The new loan retired a high-leverage construction loan, covered transaction costs and carry reserves, and provided significant cash out to the sponsor while allowing sufficient time for stabilization in anticipation of permanent financing. Located at 3066 N. Park Way, Casa Verde features 94 studio and one-bedroom units and 3,000 square feet of restaurant space on the ground floor. Community amenities include barbecue and fire pit areas, a rooftop deck and clubhouse, bike repair and storage, gated parking garage, and city and mountain views from the top floors.
CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of St. Theresa Care Center in Cincinnati for an undisclosed price. A public REIT elected to execute the strategic sale of the facility following an operator transition earlier this year. St. Theresa Care Center is licensed for 92 assisted living beds and 99 skilled nursing beds. Designated as a National Historic Landmark, the property was originally built as an acute care hospital in the mid-1920s and was later expanded in the late 1950s. The building was ultimately converted to its current use, also featuring units available for independent living residents. However, the independent living and assisted living floors were most recently underutilized. The buyer was an owner-operator with a growing presence in the area. The facility has been renamed The Mariemont Care Center. Michael Segal, Connor Doherty, Ben Firestone and Ryan Kelly of Blueprint brokered the sale.
GLASSPORT, PA. — Michigan-based brokerage firm Friedman Real Estate has negotiated the sale of a 14,560-square-foot, single-tenant retail building in Glassport, a southern suburb of Pittsburgh. Rite Aid occupies the building, which is located at 210 Ninth St. Steven Silverman and Ryan Wilner of Friedman Real Estate represented the seller in the transaction. Additional terms of sale were not disclosed.
OVERLAND PARK, KAN. — Occidental Management has expanded Aspiria NOW, its coworking facility on the Aspiria campus in Overland Park. The expansion extended the coworking space to the third floor of its existing building with an additional 30,000 square feet that includes 11 new private offices, 60 dedicated workstations and increased collaboration areas. The firm has also hired Kathy Todtenhausen to serve as community manager, supporting General Manager Robert Curland in a variety of functions. Aspiria NOW first opened in August 2022 and is now home to more than 28 member companies. Aspiria NOW memberships are available in a variety of flexible plans, including daily, month-to-month and long-term packages. The more than 80,000-square-foot space can accommodate corporations that need temporary spaces for special projects or hybrid workspace options.
LONG BEACH, CALIF. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Brittany House Memory Care Center in Long Beach, just south of Los Angeles. The seller is a San Diego-based developer and operator looking to focus its resources on a newly developed portfolio of communities throughout Orange and San Diego counties. The buyer is a Los Angeles-based high-net-worth family. The price was not disclosed. The buyer plans to convert the memory care community into an affordable housing property using the Assisted Living Waiver program in California. The Blueprint team included Jacob Gehl and Scott Frazier.