DALLAS — JLL has arranged a Freddie Mac loan of an undisclosed amount for the refinancing of Central Park Apartments, a 144-unit multifamily community located in the Vickery Meadow neighborhood of Dallas. The property was built in 1977 and features one- and two-bedroom units. Amenities include a pool, fitness center, clubhouse, a business center and onsite laundry facilities. Mark Brandenburg and Chad Russell of JLL arranged the loan, which carries a 10-year term and a fixed interest rate on behalf of the borrower, Frontline Holdings. The Beverly Hills-based private equity firm acquired the asset in 2016 and implemented capital improvements.
FORT WORTH, TEXAS — Gaines Real Estate Co. has brokered the sale of Western Hills Plaza Shopping Center, an 82,000-square-foot retail asset in Fort Worth. American Freight anchors the property, which also houses tenants such as Sonic, Taco Casa, Jackson Hewitt Tax Service and Ultimate Physique. Andrew Gaines and Hank Gaines of Gaines Real Estate represented the seller, a Dallas-based partnership, and procured the buyer, a California-based investor. Both parties requested anonymity.
NEW YORK CITY — Venture capital firm Alumni Ventures Group (AVG) has signed an 11,006-square-foot office lease in the NoMad neighborhood of Manhattan. The firm plans to occupy its new space on the 18th floor of an office building at 183 Madison Ave. beginning this summer. AVG is headquartered in Manchester, New Hampshire, and this office will be the firm’s first in New York City. Jason Frazier of CBRE represented AVG in the lease negotiations. Andrew Sachs, Tim Gibson and Josh Gosin led a Newmark Knight Frank team that represented the landlord, APF Properties.
NEW YORK CITY — Westbridge Realty Group has brokered the $4.8 million sale of a multifamily property in the Woodside neighborhood of Queens. Located at 39-26 62nd St., the property features 26 units. Alexandra Rossland of Westbridge represented the seller, 39-26 62nd Street LLC. Jonathan Bichoupan of Westbridge procured the buyer, a private individual. The sales price was not disclosed.
WESTBROOK, CONN. — Lyman Real Estate has negotiated a 4,000-square-foot industrial lease in Westbrook, located approximately 30 miles east of New Haven. Septic system servicer Skips Wastewater Services plans to occupy the space at 132 Cross Road beginning in March. Ron Lyman of Lyman Real Estate represented Skips Wastewater in the lease negotiations. Lyman also represented the landlord, 132 Cross Road LLC.
SALEM LAKES, WIS. — Zilber Property Group (ZPG) is developing two new spec industrial buildings at Salem Business Park in the village of Salem Lakes in southeast Wisconsin. Stabio North America has signed a lease to occupy 110,500 square feet at one building, while Advent Tool and Manufacturing Inc. will occupy 25,000 square feet of a 50,000-square-foot building. Pending government approvals, ZPG plans to begin construction on both facilities this spring. Completion is slated for the fourth quarter. Kenosha Area Business Alliance originally developed the 65-acre industrial business park in partnership with the village in 2016.
CHICAGO — Affirm Inc. has signed a 57,000-square-foot lease to open its first Chicago office at 350 North Orleans. The financial technology company, which operates as a lender of installment loans for consumers to use at retailers, will occupy two floors. Affirm plans to move into the new space in spring 2020. The Chicago space will be Affirm’s fourth office, along with San Francisco, New York City and Pittsburgh. The building owner, EQ Office, recently invested nearly $20 million in improvements, including façade upgrades, a fitness center, tenant lounge and private roof deck.
DETROIT — Ciena Healthcare has opened Regency at Chene, a $23 million rehabilitation and skilled nursing center located at 2295 E. Vernor Highway in Detroit. The property includes 46 private suites, 55 semi-private suites and four bariatric suites. Each has a private bathroom. Amenities include three dining rooms, lounges, a café, library, beauty shop and salon. More than 200 full-time and part-time employees will work at the 93,652-square-foot facility.
CHICAGO — Standard Equipment Co. has sold its headquarters property in Chicago’s Fulton Market West for $14.8 million. The 2.8-acre site includes four buildings totaling 43,828 square feet as well as a lot for truck and trailer parking. It has served as the environmental equipment company’s headquarters since 1986. Standard Equipment will relocate its operations to Elmhurst this quarter. George Toscas of ACO Commercial represented the buyer, Realterm Logistics.
CHICAGO — Berkadia has arranged a $7.5 million Freddie Mac small balance loan for the acquisition of Paulina Street Lofts, a 24-unit multifamily property in Chicago. Chuck Christensen, Vincent Punzi and Lowell Takahashi of Berkadia secured the financing on behalf of the buyer, Saxony Properties LLC. The 10-year loan features a 3.64 percent interest rate and a 70 percent loan-to-value. Paulina Street Lofts was originally constructed as a masonic temple in 1928 and converted to apartments in 2019.