NEW YORK CITY — Affinius Capital has provided a $400 million loan for the refinancing of 102 Fleet, a 30-story multifamily project in downtown Brooklyn. Upon completion, the 495-unit building will house 108 studios, 97 one-bedroom units, 262 two-bedroom residences and 28 three-bedroom apartments. Amenities include a rooftop pool, fitness center with a spa, coworking space and conference rooms, multiple resident lounges, an indoor game room, pet spa, indoor climbing wall and pickleball courts. Henry Bodek of Galaxy Capital arranged the loan on behalf of the owner, The Jay Group, which will use the proceeds to complete construction and lease the property to stabilization.
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JERSEY CITY, N.J. — Marcus & Millichap has brokered the $6.2 million sale of a 19-unit apartment building in Jersey City. The four-story building at 358–362 Grove St. also includes three retail spaces. Devin Perez, Alan Cafiero and Dean Matuszewic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
DEWITT, N.Y. — New York-based brokerage firm Jacobson Properties has arranged the sale of a 41,333-square-foot medical office building in DeWitt, an eastern suburb of Syracuse. The building is located within Widewaters Office Park. An entity doing business as SYR Office LLC sold the building to the anchor tenant, Arthritis Health Associates PLLC, for an undisclosed price. Lisa Menin of Jacobson Properties brokered the deal.
AVONDALE, ARIZ. — Ascent Cos. and Merit Partners have opened The Stately Avondale, an apartment property located at 12375 W. Van Buren St. in Avondale. Bryten Real Estate Partners is providing management services for the property. The Stately Avondale features 286 one-, two- and three-bedroom residences with custom finishes and upscale details. Units feature stainless steel appliances, marble-like quartz countertops, tile backsplashes, full-size Wi-Fi-enabled washers/dryers, Nest smart thermostats, USB-C kitchen outlets, blackout roller shades and luxury vinyl plank flooring. Onsite amenities include a resort-style pool and spa with lounges and cabanas, pickleball courts, two dog parks with wash station, mini mart and a 24/7 fitness center. Additional amenities include private garages with electric vehicle charging ports, coworking stations, outdoor entertainment spaces with grills and fireplaces and mobile app-controlled access for seamless conveniences.
Investors Management Group Sells Valley Vista Apartments in Tacoma, Washington for $15.8M
by Amy Works
TACOMA, WASH. — Investors Management Group (IMG) has completed the disposition of Valley Vista Apartments, a multifamily community in Tacoma, to m5x2 for $15.8 million. IMG originally acquired the asset in October 2016 for $11.4 million. Located at 6830 Tacoma Mall Blvd., Valley Vista features 108 apartments. IMG implemented a $2.5 million capital improvements program during its ownership. The program included a new exercise and community room, an updated community deck, a refreshed leasing office, new signage, conversion of the playground to a dog park and ongoing site improvements. Elijah Piper and Tony Herrmann of Kidder Mathews’ Simon | Anderson Multifamily Team, along with Brian Richardson of Kidder Mathews, represented the seller in the deal. The buyer was self-represented in the transaction.
SEATTLE — Gantry has secured a $14.8 million permanent loan to refinance maturing debt for the Latitude Queen Anne, a multifamily property located in Seattle’s Queen Anne neighborhood. Located at 500 3rd Ave. W., the Class A, mid-rise property offers 76 apartments in urban one-bedroom layouts and traditional one- and two-bedroom floor plans, as well as a rooftop deck. Mike Wood and Tim Brown of Gantry represented the borrower, a private real estate investor, in the financing. The 10-year, fixed-rate, nonrecourse loan was secured from one of Gantry’s correspondent life company lenders and features full-term interest-only payments. Gantry will service the loan for its correspondent.
Pinnacle Real Estate Advisors Brokers Sale of 20,034 SF Medical Office Property in Littleton, Colorado
by Amy Works
LITTLETON, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Chatfield Plaza, a medical office property situated within Ken Caryl Business Park in Littleton. The asset traded for $3.2 million. Located at 10789 Bradford Road, the 20,034-square-foot building is home to 10 tenants, abundant parking and upgraded solar paneling on the roof. RC Myles, Eric Shaw and Kianna Starin of Pinnacle Real Estate Advisors represented the seller, while Craig Myles and Joe Owston represented the buyer in the deal. The names of the seller and buyer were not released.
NORTON SHORES, MICH. — Chobani has unveiled plans for a multi-phase, $567 million expansion of its La Colombe plant in the western Michigan town of Norton Shores. The project is expected to add more than 200,000 square feet of production space and nearly 340 new jobs, while retaining 312 jobs. The company says demand is surging for La Colombe’s signature ready-to-drink lattes. La Colombe first started in Philadelphia in 1994, making crafted coffee in cafes across the country. In 2016, the brand launched its ready-to-drink lattes, which are made in Norton Shores with locally sourced milk. Chobani, which manufactures yogurt, oat milk and creamers, acquired La Colombe in 2023.
CHICAGO AND CINCINNATI — JLL Capital Markets has arranged a $59 million loan for the refinancing of a three-building industrial portfolio totaling 647,717 square feet across the Chicago and Cincinnati metropolitan areas. The Midwest Industrial 3-Pack comprises two facilities in Fairfield, Ohio, and one property in Hoffman Estates, Ill. All three buildings were completed in 2023 and feature a clear height of 32 feet, LED lighting with motion sensors, ESFR sprinkler systems and concrete tilt-wall construction. The portfolio is fully leased to a mix of tenants serving the logistics, distribution, manufacturing, packaging and thermal processing industries. The Ohio properties are known as Seward Pointe Commerce Park, while the Chicago asset is known as The Ninety Logistics Center and totals 201,676 square feet. Matthew Schoenfeldt, Lucas Borges, Brian Walsh, Michael Gurwin and Christian Johnston of JLL arranged the loan on behalf of the borrower, Brennan Investment Group and Reinsurance Group of America Inc. A regional bank provided the five-year loan.
INDIANAPOLIS — Dandy, a dental technology company, has leased a newly constructed, 258,336-square-foot industrial facility at Thunderbird Commerce Center, a 185-acre, master-planned manufacturing and logistics park developed by Lauth Group in Indianapolis. Dandy is expected to take occupancy in the second quarter, and plans to make a significant investment to customize the interior of the building for its operations. The facility will serve as a primary hub for production, fulfillment and distribution. Dandy’s operations are expected to create more than 100 jobs in the next year. Other tenants at Thunderbird include Monarch Beverage and ABF Freight.