Friday, July 17, 2026
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AcquisitionsAlabamaRetailSoutheast

First National Realty Acquires 242,000 SF Shopping Center in Birmingham

by John Nelson

BIRMINGHAM, ALA. — Red Bank, N.J.-based First National Realty Partners has acquired Inverness Corners, a 242,000-square-foot retail center located in Birmingham, for an undisclosed price. A 54,000-square-foot Winn-Dixie and a 92,600-square-foot Kohl’s anchor the property. Additional tenants include Orangetheory Fitness, Mellow Mushroom, Tropical Café, Wing Stop, H&R Block and Enterprise. Zach Taylor of Marcus & Millichap’s Institutional Property Advisors (IPA) division represented the undisclosed seller in the transaction.

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23-30-Borden-Ave.-Queens
IndustrialLoansNew YorkNortheast

Innovo Property Group Receives $435M Loan for Refinancing of Queens Industrial Facility

by Taylor Williams

NEW YORK CITY — New York City-based development and investment firm Innovo Property Group (IPG) has received a $435 million loan for the refinancing of a 900,000-square-foot industrial project in the Long Island City area of Queens. IPG acquired the site, which previously housed the warehouse of online grocer FreshDirect, in January 2019 with Atalaya Capital Management and Nan Fung Group for $75 million. Since then, the development has demolished the existing structures on the site and is targeting a 2024 completion for the new facility, which will feature elevated truck courts and a vertical parking structure. Starwood Property Trust and J.P Morgan provided the loan, and the former originally provided the $155 million in construction financing in early 2021. Eastdil Secured arranged the financing.

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AcquisitionsMultifamilyNew JerseyNortheast

Claremont Development Sells Northern New Jersey Apartment Community for $130M

by Taylor Williams

PARK RIDGE, N.J. — Locally based firm Claremont Development has sold The James, a 240-unit apartment community located at 87 Madison Ave. in the Northern New Jersey community of Park Ridge. The sales price was $130 million. Named after area native and actor James Gandolfini, the five-story property offers studio, one- and two-bedroom units, including 20 residences that are reserved as affordable housing. The James also includes 17,600 square feet of retail space and amenities such as a pool, fitness center, coffee bar, coworking spaces and multiple entertainment lounges. Brian Whitmer, Niko Nicolaou and Ryan Dowd of Cushman & Wakefield represented Claremont Development in the transaction. The buyer was not disclosed.

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AcquisitionsIndianaMidwestOffice

M & J Wilkow Purchases 350,000 SF Office Campus in Fishers, Indiana

by Kristin Harlow

FISHERS, IND. — In a joint venture with a fund managed by DRA Advisors LLC, M & J Wilkow has purchased a 350,000-square-foot office campus in the Indianapolis suburb of Fishers. Known as 11100 USA Parkway, the property is situated near The Yard at Fishers District, a new mixed-use development. The nearly 40-acre office campus, developed in 1990 and 1995, features a cafeteria, auditorium, fitness center and conference space. Tenants include Navient Solutions, First Data Resource and Pendrick Capital Partners. John Robinson, Abby Zito and Kevin Gillihan of JLL represented the seller, Navient, which will remain a tenant in the building. JLL will also oversee leasing efforts on behalf of new ownership.

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LoansMichiganMidwestMultifamilyOhioSeniors HousingWisconsin

Lument Provides $87M in HUD-Insured Loans for Refinancing of Midwest Skilled Nursing Portfolio

by Kristin Harlow

OHIO, MICHIGAN AND WISCONSIN — Lument has provided $87 million in HUD 232/223(f) loans for the refinancing of a portfolio of nine skilled nursing facilities located in Ohio, Michigan and Wisconsin. The properties total 691 beds. The operator, Atrium Centers Inc., provides short-term, post-acute rehabilitation and long-term nursing care. Each of the nine loans features a fixed interest rate. HUD 232/223(f) loans allow for the purchase or refinancing of nursing homes and assisted living facilities.

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AcquisitionsKansasMidwestRetail

Marcus & Millichap Brokers $10.5M Sale of Retail Center in Lawrence, Kansas

by Kristin Harlow

LAWRENCE, KAN. — Marcus & Millichap has brokered the sale of Lawrence Marketplace in Lawrence for $10.5 million. The 90,982-square-foot retail center is located at 2525 Iowa St. Anchor tenants at the fully occupied property include Planet Fitness and Office Depot. Zach Turner, Scott Wiles, Mark Ruble, Erin Patton, Craig Fuller and Chris Lind of Marcus & Millichap represented the seller, a Kansas-based limited liability company. The team also secured the buyer, a New York-based limited liability company.

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Sunrise-New-Dorp-Staten-Island
DevelopmentMultifamilyNew YorkNortheastSeniors Housing

Sunrise Senior Living Opens 130-Unit Community on Staten Island

by Taylor Williams

NEW YORK CITY — Sunrise Senior Living has opened Sunrise of New Dorp, its second seniors housing community on Staten Island. The 85,000-square-foot, four-story property features 130 units of assisted living and memory care and proximity to the Staten Island Expressway and some of the borough’s various shops, restaurants and beaches. Moseley Architects designed the project. Other partners included KBE Building Corp. and PWC Cos.

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AcquisitionsMidwestMinnesotaRetail

Upland Arranges $4.5M Sale of KinderCare-Occupied Property in Lakeville, Minnesota

by Kristin Harlow

LAKEVILLE, MINN. — Upland Real Estate Group has arranged the $4.5 million sale of a retail property occupied by KinderCare Learning Center in the Minneapolis suburb of Lakeville. The building is part of Crossroads of Lakeville, a 127,070-square-foot shopping center anchored by Cub Foods. Deborah Vannelli, Keith Sturm and Amanda Leathers of Upland brokered the sale. A local buyer purchased the asset while completing a 1031 exchange. KinderCare operates more than 1,500 early childcare centers in 40 states.

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AcquisitionsHospitalityNew YorkNortheast

Hunter Hotel Advisors Arranges $11.2M Sale of Upstate New York Hotel

by Taylor Williams

ITHACA, N.Y. — Hunter Hotel Advisors, an Atlanta-based hospitality brokerage firm, has arranged the $11.2 million sale of the 107-room Courtyard Ithaca Airport Hotel in upstate New York. The select-service property is situated adjacent to Ithaca Tompkins International Airport and Cornell University’s campus. Rochester, N.Y.-based owner-operator DelMonte Hotel Group sold the property to Skyline Investments Inc. Mayank Patel of Hunter Hotel Advisors brokered the deal.

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LoansMultifamilyNew YorkNortheastSeniors Housing

Greystone Provides $7M in Bridge Financing for Assisted Living Community in Wellsville, New York

by Taylor Williams

WELLSVILLE, N.Y. — Greystone has provided a $7 million bridge loan for the refinancing of a 137-bed assisted living facility in Wellsville, located in the southwestern part of the Empire State. The financing retires the acquisition debt of the borrower, Willow Ridge Senior Living LLC, which acquired the facility in August 2021. Formerly known as Manor Hills, the property also includes 22 memory care beds in a separate wing. Greystone intends to pursue HUD-insured financing as a long-term permanent exit of the bridge financing. The nonrecourse, interest-only bridge loan includes an initial 24-month term with two six-month extensions.

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