Property Type

JLL Arranges $220M Construction Loan for Downtown Philadelphia Healthcare Project

by Taylor Williams March 30, 2021

PHILADELPHIA — JLL has arranged a $220 million construction loan for a 452,000-square-foot healthcare project that will be located at 1101 Chestnut St. in downtown Philadelphia’s Center City district. Jefferson Health will occupy the 19-story ambulatory clinic, which is expected to be complete in the first quarter of 2024. Chad Orcutt and Jim Galbally of JLL arranged the debt through a syndicate of banks on behalf of the development team, a joint venture between National Real Estate Advisors LLC, Joss Realty Partners, SSH and Young Capital.

March 30, 2021

Acquisitions Industrial Kentucky Loans Southeast

NorthMarq Arranges $4.7M Refinancing of Fortune Plaza Industrial Center in Lexington, Kentucky

by Julia Sanders March 30, 2021

LEXINGTON, KY. — Randall Waddell of NorthMarq has arranged the $4.7 million refinancing of Fortune Plaza Industrial Center, a 50,000-square-foot industrial property located at 2473 Fortune Drive in Lexington. The transaction was structured with a five-year term and a 25-year amortization schedule. NorthMarq arranged financing for the borrower, an entity doing business as Fortune Plaza LLC, through its relationship with an unnamed regional bank. The loan includes a period of interest-only payments and future funding capabilities.

March 30, 2021

Development Multifamily New Jersey Northeast Seniors Housing

Acts Retirement Begins $10M Expansion Project at Senior Living Community in Moorestown, New Jersey

by Taylor Williams March 30, 2021

MOORESTOWN, N.J. — Acts Retirement-Life Communities has begun a $10 million renovation and expansion project at The Evergreens, a senior living community in Moorestown, a suburb of Philadelphia. The renovations feature new construction and upgrades to existing common areas throughout the property, which is home to approximately 216 residents. The project is scheduled to take approximately two years to complete. The Evergreens’ 32-acre campus includes 200 independent living apartment homes, an onsite healthcare center with 66 assisted living suites and a 34-bed skilled nursing center.

March 30, 2021

Acquisitions Industrial Massachusetts New Hampshire Northeast

BentallGreenOak Acquires 700,000 SF Industrial Portfolio in Massachusetts, New Hampshire

by Taylor Williams March 30, 2021

NEW YORK CITY — New York City-based institutional investment firm BentallGreenOak has acquired a portfolio of nine industrial buildings totaling approximately 700,000 square feet in New England. The properties are located in Wilmington and Billerica, Massachusetts, and Londonderry, New Hampshire. Chris Skeffington and Scott Dragos of CBRE represented the seller, Novaya Real Estate Ventures, and also procured BentallGreenOak as the buyer. The portfolio was 94 percent leased at the time of sale.

March 30, 2021

Acquisitions Multifamily New York Northeast

Avison Young Negotiates $13.2M Sale of Multifamily Building in Manhattan

by Taylor Williams March 30, 2021

NEW YORK CITY — Avison Young has negotiated the $13.2 million sale of a multifamily building located at 100 Second Ave. in the East Village neighborhood of Manhattan. The five-story building houses seven apartments that were recently renovated and one commercial space. Brandon Polakoff of Avison Young represented the seller, Highpoint Property Group, in the deal. The buyer was not disclosed.

March 30, 2021

Acquisitions Healthcare Northeast Pennsylvania

Montecito Medical Buys 20,650 SF Ambulatory Surgery Center Near Pittsburgh

by Taylor Williams March 30, 2021

CRANBERRY TOWNSHIP, PA. — Montecito Medical, a Nashville-based healthcare investment firm, has purchased The Surgery Center at Cranberry, a 20,650-square-foot ambulatory surgery center near Pittsburgh. The two-story building was built in 2003 and was fully leased to Scott & Christie Eyecare Associates at the time of sale. The first floor houses three operating rooms, two procedure rooms, one laser room and 15 pre- and post-operative pods. Clinical and office spaces are located on the second floor.

March 30, 2021

Acquisitions Midwest Multifamily Wisconsin

Starboard Realty Acquires 139-Unit Apartment Complex in Suburban Milwaukee

by Kristin Harlow March 30, 2021

MENOMONEE FALLS, WIS. — Starboard Realty Advisors LLC has acquired Jade at North Hills in Menomonee Falls, a suburb of Milwaukee. The sales price was undisclosed. The 139-unit apartment complex was 98.6 percent occupied at the time of sale. Developed by Fiduciary Real Estate Development, the garden-style property features four buildings with underground parking. It features a mix of studio, one- and two-bedroom units. Patrick Gallagher, Matson Holbrook and Gretchen Richards of CBRE represented the undisclosed seller.

March 30, 2021

Acquisitions Industrial Michigan Midwest

Colliers Brokers Sale of 222,965 SF Industrial Flex Building in Farmington Hills, Michigan

by Kristin Harlow March 30, 2021

FARMINGTON HILLS, MICH. — Colliers International Detroit has brokered the sale of a 222,965-square-foot industrial flex building in Farmington Hills for an undisclosed price. The property, located along Haggerty Road, is known as Tech Park. Barry Swatsenbarg, Gary Grochowski and Bryan Banas of Colliers represented the seller, Promanas. ICAP was the buyer. Colliers has also been hired as property manager on behalf of the new owner.

March 30, 2021

Acquisitions Illinois Midwest Retail

Hanley Investment Group Negotiates $4.3M Sale of Retail Building in Metro Chicago

by Kristin Harlow March 30, 2021

BOURBONNAIS, ILL. — Hanley Investment Group Real Estate Advisors has negotiated the $4.3 million sale of a newly constructed retail building at Bradley Commons, a Walmart-anchored shopping center in Bourbonnais. The 9,723-square-foot building is fully leased to Jersey Mike’s Subs, Midwest Express Clinic, AT&T and uBreakiFix. Built in 2018, the property is home to its original tenants. Jeff Lefko and Bill Asher of Hanley, in conjunction with ParaSell Inc., represented the seller, Cincinnati-based Midland Atlantic Properties. A Des Moines-based private investor was the buyer.

March 30, 2021

Development Midwest Missouri Retail

Block & Co. Repurposes Former FedEx Facility in Missouri into Multi-Tenant Retail Space

by Kristin Harlow March 30, 2021

INDEPENDENCE, MO. — A Block & Co. Inc. Realtors investment group has repurposed a former FedEx facility in Independence into multi-tenant retail space. Block acquired the 8,385-square-foot property, located at 3721 Noland Road, in March 2020. It now features four tenant spaces, three of which have been leased to Little Caesars, Cricket Wireless and Grassroots Dispensary. The project also included the construction of a new parking lot and building façade. Phil Peck and Marshal Blount of Block led the investment group.

March 30, 2021

Newer Posts

Older Posts

Upcoming Events

Aug
06