Property Type

Equus Completes 182-Unit Madison Lansdale Station Apartments Near Philadelphia

by Taylor Williams January 23, 2020

LANSDALE, PA. — Equus Capital Partners, a locally based private equity fund, has completed Madison Lansdale Station, a 182-unit multifamily property in Lansdale, about 25 miles north of Philadelphia. The property, which features studio, one- and two-bedroom units, is part of a 6.7-acre mixed-use development located adjacent to Lansdale station on the SEPTA transit line. Additional uses include single-family homes and 15,000 square feet of retail space. Amenities at Madison Lansdale Station, which is now 50 percent leased, include a fitness center, business center, clubhouse, demonstration kitchen, billiard room and outdoor spaces with lounges and fire pits.

January 23, 2020

Acquisitions Midwest Minnesota Multifamily

JLL Arranges Sale of 212-Unit Apartment Property in Downtown Minneapolis

by Kristin Harlow January 23, 2020

MINNEAPOLIS — JLL Capital Markets has arranged the sale of Eitel Apartments in downtown Minneapolis for an undisclosed price. The 212-unit apartment property is located at 1367 Willow St. and overlooks Loring Park. The community consists of three buildings, one of which is a repurposed historic building that formerly housed Eitel Hospital. Unit sizes average 800 square feet. Amenities include a rooftop deck, sky lounge, fitness center, yoga studio, billiards room, sauna and two-level parking garage. The property was 90 percent occupied at the time of sale. Matthew Lawton, Kevin Girard, Wick Kirby, Josh Talberg, Dan Linnell and Mox Gunderson of JLL represented the undisclosed seller. The team also procured the institutional buyer.

January 23, 2020

Development Massachusetts Multifamily Northeast

Greystar to Develop 126-Unit Apartment Building in Boston’s Back Bay

by Taylor Williams January 23, 2020

BOSTON — Charleston, S.C.-based Greystar has acquired land at 212 Stuart St. in Boston’s Back Bay neighborhood for the development of a 19-story, 126-unit apartment building that will also feature ground-floor retail space. The property will offer one- and two-bedroom units as well as three-bedroom penthouses ranging in size from 500 to 2,100 square feet. Amenities will include a fitness center, lounge, library and bike storage space. Greystar plans to break ground this month and to complete the project in the first half of 2022.

January 23, 2020

Acquisitions Industrial Midwest Ohio

Stan Johnson Co. Negotiates $16.8M Sale of Distribution Facility in Findlay, Ohio

by Kristin Harlow January 23, 2020

FINDLAY, OHIO — Stan Johnson Co. has negotiated the sale of a single-tenant, 402,604-square-foot distribution facility in Findlay for $16.8 million. The warehouse is fully leased to American Plastics, a designer, manufacturer and distributor of plastic-injection molded products. It is located at 14801 County Road 212. Originally built in 1998, the property sits on 24 acres and features a clear height of 28 feet, 44 dock doors and a fenced truck court. Rob Gemerchak and Jeff Hughes of Stan Johnson represented the seller, local developer Nickolas LLC. Plymouth Industrial REIT Inc. purchased the asset.

January 23, 2020

Illinois Midwest Multifamily

Habitat Co. Named Property Manager for 724-Unit Park Tower Condo Building in Chicago

by Kristin Harlow January 23, 2020

CHICAGO — The Habitat Co. has been awarded the property management of Park Tower, a 724-unit condominium building in Chicago’s Edgewater neighborhood. Located at 5415 N. Sheridan Road and constructed in 1973, the building rises 55 stories. Amenities include a rooftop garden, grocery store, clubhouse, fitness center, pool and parking garage. Park Tower is one of the largest residential buildings in Chicago by unit count, according to Habitat, which maintains more than 22,000 units under management across six states.

January 23, 2020

Acquisitions Industrial Midwest Ohio

Reichle Klein Group Brokers $4.6M Sale of Industrial Building in Ohio

by Kristin Harlow January 23, 2020

PIONEER, OHIO — Reichle Klein Group has brokered the $4.6 million sale of a 157,550-square-foot industrial building in Pioneer in northwest Ohio. The property is located at 2 Kexon Drive. Ron Jurgenson of Reichle Klein and Tim Echemann of Industrial Property Brokers represented the seller, Pioneer’s Kidston Family Cos. Ltd. Jurgenson represented the buyer, ATD Properties LLC.

January 23, 2020

Acquisitions Illinois Industrial Midwest

Cawley Chicago Arranges Sale of Former Gymnastics Facility in Naperville, Illinois

by Kristin Harlow January 23, 2020

NAPERVILLE, ILL. — Cawley Chicago has arranged the sale of a 34,984-square-foot warehouse in Naperville that formerly housed Naperville Gymnastics. The sales price was undisclosed. Located at 800 Enterprise Court, the property sits on 7.5 acres and features a clear height of 18 feet, two interior docks and 12,500 square feet of office space. Jack Brennan and Daniel Cawley of Cawley represented the private seller. Jeff Provenza of Darwin Realty represented the buyer, which plans to renovate the facility and improve the land to use for its construction equipment rental business.

January 23, 2020

Loans Massachusetts Multifamily Northeast

Citizens Bank Provides $53M Construction Loan for Boston Multifamily Project

by Taylor Williams January 23, 2020

BOSTON — Citizens Commercial Banking has provided a $53 million construction loan for 7INK, a 180-unit multifamily project in Boston. The property will be located within Ink Block, a mixed-use development at the former site of The Boston Herald in the city’s South End neighborhood. Floor plans will include fully furnished studios, one-bedroom residences and shared suites. The borrower was Massachusetts-based National Development.

January 23, 2020

Loans Multifamily New York Northeast

Black Bear Capital Arranges $50.4M in Permanent Financing for Multifamily Portfolio in The Bronx

by Taylor Williams January 23, 2020

NEW YORK CITY — Black Bear Capital Partners has arranged $50.4 million in permanent financing for a portfolio of multifamily properties in The Bronx. Morgan Stanley provided the loan, which carries a fixed interest rate of 3.78 percent and 10 years of interest-only payments, to Finkelstein Timberger East Real Estate. The portfolio spans five properties and includes 357 multifamily units and nine commercial spaces. Bryan Manz, Rob Serra and Emil DePasquale of Black Bear arranged the transaction.

January 23, 2020

Acquisitions New Jersey Northeast Office

CBRE Brokers $15.2M Sale of Hamilton Plaza Office Building in Paterson, New Jersey

by Taylor Williams January 23, 2020

PATERSON, N.J. — CBRE has brokered the $15.2 million sale of 100 Hamilton Plaza, a 181,995-square-foot office building in Paterson, a city in Northern New Jersey. The 14-story, transit-served building was 90 percent leased at the time of sale. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer and Zach McHale of CBRE represented the seller, Mountain Development Corp., in the transaction. The team also procured the buyer, a private investor based in New York City.

January 23, 2020

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