Property Type

Reserve-at-Crosswicks-Bordentown-New-Jersey

Larken Associates Nears Completion of 272-Unit Apartment Community in Bordentown, New Jersey

by Taylor Williams March 7, 2022

BORDENTOWN, N.J. — New Jersey-based developer Larken Associates is nearing completion of The Reserve at Crosswicks, a 272-unit apartment community in Bordentown, about 35 miles northeast of Philadelphia. The property offers one- and two-bedroom units with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, spa, fitness center, playground, game room, package lockers and a dog park. Reserve at Crosswicks is 75 percent preleased and slated to open this summer.

March 7, 2022

112-West-Park-Drive-Mount-Laurel-New-Jersey

Development Industrial Northeast

Prologis to Develop 184,500 SF Logistics Center in Mount Laurel, New Jersey

by Taylor Williams March 7, 2022

MOUNT LAUREL, N.J. — San Francisco-based industrial giant Prologis will develop a 184,500-square-foot logistics center in Mount Laurel, located outside of Philadelphia in Bergen County. Elli Klapper, Jeremy Wernick, Mark Silverman, Charles Berger, Kevin Dudley and Brian Fiumara of CBRE represented Prologis in its acquisition of the 16.8-acre site, which currently houses a 114,676-square-foot office building. Veritas Real Estate sold the land for an undisclosed price. A construction timeline was not disclosed.

March 7, 2022

Loans Multifamily New York Northeast Seniors Housing

Knighthead Funding Provides $34.5M Construction Loan for Seniors Housing Project in Selden, New York

by Taylor Williams March 7, 2022

SELDEN, N.Y. — Knighthead Funding LLC has provided a $34.5 million loan for the construction of an active adult community in Selden, a hamlet on Long Island. Situated on 13.8 acres, the complex will feature 124 two-bedroom, two-bath units, including 36 affordable homes, in 15 two-story residential buildings. The borrower is The Northwind Group. The property is fully permitted, planned and approved, but a community name has not been released.

March 7, 2022

Acquisitions New Hampshire Northeast Retail

Horvath & Tremblay Negotiates $16.9M Sale of Retail Property in Merrimack, New Hampshire

by Taylor Williams March 7, 2022

MERRIMACK, N.H. — Boston-based brokerage firm Horvath & Tremblay has negotiated the $16.9 million sale of an 80,795-square-foot retail property in Merrimack, located near the Massachusetts-New Hampshire border. The three-building property was built on 14 acres in 2018. Altitudes, a trampoline and adventure park, anchors the center, and other tenants include Planet Fitness, Dollar General, Triangle Credit Union and Beer & Wine Nation. Bob Horvath and Todd Tremblay represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

March 7, 2022

Development Multifamily North Carolina Southeast

Greystar, White Point Break Ground on 24-Story Apartment Building in Charlotte

by Julia Sanders March 7, 2022

CHARLOTTE, N.C. — Charleston-based Greystar, in partnership with Charlotte-based White Point (WP), have broken ground on Ascent South End, a 24-story multifamily building in Charlotte. The project will have 324 apartments and approximately 15,000 square feet of ground-floor retail space. Ascent South End is slated to open in early 2024. The property will offer floor plans ranging from micro units/studios to three-bedrooms. Unit features will include custom closets, appliance and fixture packages and modern kitchens. The building will also feature more than 20,000 square feet of amenity space. Additionally, the development will focus on minimizing onsite waste and maximizing indoor environmental quality using smart thermostats, lighting control strategies and safer materials. The property will also include EV charging stations. The building will be next door to WP’s planned office tower and adjacent to Dilworth Artisan Station, a three-story adaptive reuse property owned by WP.

March 7, 2022

Florida Loans Office Southeast

Berkadia Arranges Acquisition Financing for 104,356 SF Office Property in Metro Miami

by Julia Sanders March 7, 2022

CORAL GABLES, FLA. — Berkadia has arranged acquisition financing for 2000 Ponce, an eight-story, 104,356-square-foot office property in downtown Coral Gables, about five miles from Miami. The seller was an undisclosed private family owner. Charles Foschini, Chris Apone and Robert Iudice of Berkadia’s Miami office secured the undisclosed amount of financing on behalf of the locally based buyer, Westside Capital Group. Valley National Bank provided a five-year bridge loan underwritten at 24 months of interest-only payments and a 74 percent loan-to-cost ratio. Built in 2001, 2000 Ponce features 104 parking spaces in a four-story structured parking garage. Westside Capital Group intends to relocate its headquarters from Brickell to 2000 Ponce. The firm also plans on renovating the property, including renovations to the exterior, upgrading and extending the lobby, leasing up the currently available retail space on the ground floor to one or two restaurant concepts and upgrading and repositioning the office space in the upper floors of the building. Located at 2000 Ponce de Leon Blvd., the property is located 4.9 miles from Miami International Airport and 3.1 miles from the University of Miami. The property is near major employers including Bayview Asset Management, Baptist Health, American Airlines, University of …

March 7, 2022

Acquisitions Midwest Missouri Multifamily

Alchemy Ventures Acquires 1,000 Multifamily Units in Kansas City for $125M

by Kristin Harlow March 7, 2022

KANSAS CITY, MO. — Alchemy Ventures, in partnership with Rockcrest Holdings, has acquired more than 1,000 multifamily units in Kansas City’s urban core for $125 million. The acquisition includes Pickwick Apartments as well as four individual sites at 200 Walnut St., 318 W. 7th St., 200 W. 5th St. and 930 Broadway Blvd. that will be branded as Unity Lofts in the Rivermarket and downtown neighborhoods. Alchemy plans to renovate the properties with technology-driven features and new finishes. Seller information was not provided. Formed in 2014, Alchemy invests in properties within Kansas City and New York City.

March 7, 2022

Development Industrial Midwest Ohio

Kroger, Ocado to Open 270,000 SF Customer Fulfillment Center in Cleveland Area

by Kristin Harlow March 7, 2022

CLEVELAND — The Kroger Co. (NYSE: KR) has unveiled plans to open a new customer fulfillment center in the Cleveland area for grocery delivery services. Technology company Ocado Group will operate the facility, which will span 270,000 square feet. The facility will utilize robotics for automated production, but it also expected to create up to 400 new jobs in the area. Completion of the project is slated for 24 months after construction begins. The warehouse, which will service Northeast Ohio and Pennsylvania, marks the second customer fulfillment center in the state of Ohio for Kroger and Ocado. A specific location for the project was not released.

March 7, 2022

Acquisitions Healthcare Midwest Wisconsin

Physician Real Estate Capital Advisors Brokers $6.2M Sale of Medical Office Building in Kenosha, Wisconsin

by Kristin Harlow March 7, 2022

KENOSHA, WIS. — Physician Real Estate Capital Advisors (PRECAP) has brokered the sale of the Advocate Aurora Health Medical Building in Kenosha for $6.2 million. Aurora Medical Group Inc. (AMG) and MH Imaging fully occupy the 19,678-square-foot medical office building. Scott Niedergang of PRECAP and Nathan Glaisner of Verde Investments LLC represented both parties in the sale. The seller was a physician partnership that developed the facility for its private practice prior to its acquisition by AMG. A commercial real estate company focused on net lease retail, logistics and medical facilities was the buyer.

March 7, 2022

Acquisitions Georgia Multifamily Southeast

Carter Multifamily Acquires Adrian on Riverside Apartments in Macon, Georgia for $41.1M

by Julia Sanders March 7, 2022

MACON, GA. — Carter Multifamily has acquired Adrian on Riverside, a 224-unit apartment community in Macon. The undisclosed seller sold the property for $41.1 million. Built in two phases in 2003 and 2009, Adrian on Riverside is located on 32.5 acres and offers one-, two- and three-bedroom floorplans with a unit size range of 850 to 1,438 square feet. Unit features include washer and dryer connections, walk-in closets, garden tubs and marble top vanities in the bathrooms. Community amenities include a resort-style swimming pool, fitness center, grill and sundeck, playground, game room and a movie theater. Located at 5243 Riverside Drive, the property is situated 14.8 miles from the Macon Downtown Airport and 8.9 miles from Mercer University. Carter Multifamily intends to renovate the property, including implementing institutionally based property management best practices, upgrades to community amenities, interior unit renovations and exterior plant improvements.

March 7, 2022

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