Property Type

Greystone Provides $20M Freddie Mac Loan to Refinance Multifamily Property in Springfield, New Jersey

by Alex Patton May 28, 2020

SPRINGFIELD, N.J. — Greystone has provided a $20 million Freddie Mac loan to refinance The Cove at Springfield Apartments, a multifamily property in Springfield, a western suburb of New York City. The loan carries a seven-year term with a 30-year amortization schedule and interest-only payments for the first two years. Located at 118 Victory Rd., The Cove at Springfield Apartments is a garden-style community that features 91 units with one-, two-, and three-bedroom floor plans and amenities such as a clubhouse and a fitness center. Dan Sacks of Greystone originated the loan.

May 28, 2020

Acquisitions Industrial Northeast Pennsylvania

NewAge Industries Acquires 46,618 SF Industrial Property in Warrington, Pennsylvania

by Alex Patton May 28, 2020

WARRINGTON, PA. — NewAge Industries Inc., a hose supplier headquartered in Southampton, Pennsylvania, has acquired a 46,618-square-foot industrial property in the northern Philadelphia suburb of Warrington. The one-story property is part of an industrial park located at 364 Valley Road. The property features 20-foot clear heights, five tailgate loading doors and approximately 3,000 square feet of office space. Andrew McGhee of Colliers International represented NewAge Industries in the transaction. Sean Durkin of Roddy Inc. represented the seller, 364 Valley Road LP

May 28, 2020

Acquisitions Connecticut Northeast Retail

Press | Cuozzo Brokers Sale of 7,800 SF Retail Building in Milford, Connecticut

by Alex Patton May 28, 2020

MILFORD, CONN. — Press | Cuozzo Commercial Services has brokered the sale of a retail building in Milford, a western suburb of New Haven. Located at 135 Cherry St., the property is part of Milford Plaza, a 182,000-square-foot shopping center. Amity Physical Therapy will lease the building for its fourth store. Stephen Press of Press | Cuozzo represented the seller, Hale Properties LLC, in the transaction. Press also procured the buyer, Dow Enterprises LLC. The sales price was undisclosed.

May 28, 2020

Leasing Activity New York Northeast Office

Hickory Lane Capital Management Signs 2,100 SF Office Lease in Manhattan

by Alex Patton May 28, 2020

NEW YORK CITY — Hickory Lane Capital Management has signed a 2,100-square-foot office lease for its new headquarters in Manhattan’s Garment District. The firm signed a three-year lease for space on the seventh floor of an office building located at 530 Seventh Ave. The building features a 30,000-square-foot co-working space, which serves as an amenity to all tenants and offers additional office spaces and conference rooms. Brian Neugeboren, Nicole Goetz and Alicia Parente of Savitt Partners represented the undisclosed landlord. Christina Combias of Voro Real Estate represented Hickory Lane.

May 28, 2020

Development Industrial Texas

Holt Lunsford Completes 182,000 SF Southlake Business Park Near DFW Airport

by Taylor Williams May 28, 2020

SOUTHLAKE, TEXAS — Holt Lunsford Commercial Investments has completed Southlake Business Park, a 182,000-square-foot industrial development located just north of DFW International Airport in Southlake. The property spans 12.6 acres and consists of three buildings with both front- and read-load configurations. Additional building features include 24- to 28-foot clear heights, 190-foot shared truck courts and a total of 244 automobile parking spaces. Holt Lunsford Commercial, the leasing arm of the developer, will market the property to users seeking anywhere from 13,000 to 100,000 square feet.

May 28, 2020

Development Multifamily Seniors Housing Texas

KWA Construction Breaks Ground on 120-Unit Phase II of Fort Worth Multifamily Project

by Taylor Williams May 28, 2020

FORT WORTH, TEXAS — Locally based general contractor KWA Construction has broken ground on Phase II of Columbia Renaissance Square, a multifamily project that will add 120 independent living units for senior citizens to the local supply. Units will feature vinyl plank flooring, ceramic tile and carpeted bedrooms. Phase I of the project, which is being developed by Columbia Residential and Renaissance Heights Development Group, delivered 140 units, the majority of which were affordable housing residences. Phase II is expected to be complete in December.

May 28, 2020

California Loans Multifamily Western

Greystone Arranges $86.2M in Refinancing for Aspire Apartments in Northern California

by Amy Works May 28, 2020

TRACY, CALIF. — Greystone has secured $86.2 million in refinancing for Aspire Apartments, a newly constructed multifamily asset in Tracy. Todd Vitzthum and Simon Herrmann of Greystone Real Estate Advisors, along with Cody Field of Greystone, arranged 10-year refinancing and Freddie Mac loan for the undisclosed borrowers. Completed last year, Aspire Apartments features 348 units, a resort-style swimming pool, fitness center, pet spa and clubhouse.

May 28, 2020

Development Hawaii Multifamily Seniors Housing Western

Coastal Rim Properties Acquires Land Parcel for 20-Story Seniors Housing Development in Honolulu

by Amy Works May 28, 2020

HONOLULU — Coastal Rim Properties has purchased a 12,842-square-foot land parcel in downtown Honolulu from an affiliate of Next Realty for an undisclosed price. The buyer plans to develop a 20-story affordable seniors housing tower on the property, which is located at 1192 Alakea St. The site currently houses a vacant parking lot. Steven Sofos of Sofos Realty Corp. represented the seller, while Matt David and Terry Jackson of Cushman & Wakefield’s Land Advisory Group in San Diego provided advisory services for the transaction.

May 28, 2020

Acquisitions California Industrial Office Western

BLT Enterprises Sells Three-Building Sorrento Tech Campus in San Diego for $39M

by Amy Works May 28, 2020

SAN DIEGO, CALIF. — Santa Monica, Calif.-based BLT Enterprises has completed the disposition of Sorrento Tech Campus, a three-building creative office/R&D complex located in San Diego’s Sorrento Mesa submarket. Longfellow Real Estate Partners acquired the campus for $39 million. Located at 10070, 10140 and 10180 Barnes Canyon Road, the complex totals 83,480 square feet. BLT Enterprises implemented a repositioning plan of the original campus, which it acquired in 2016. The renovations included transforming 35,000 square feet of raw industrial space into innovative creative office product with an open floor plan, three executive offices, a large conference room, an upgraded kitchen and an outdoor patio. CV Sciences, TorreyCove Capital Partners, L3 Technologies and Ron’s Pharmacy fully occupied the complex at the time of sale. Ron Jacobson of SD Realty Partners, along with Rick Reeder and Brad Tecca of Cushman & Wakefield, completed the transaction on behalf of the buyer and seller.

May 28, 2020

Acquisitions Retail Texas

NewQuest Brokers Sale of 89,213 SF Inwood Forest Shopping Center in Houston

by Taylor Williams May 28, 2020

HOUSTON — Locally based firm NewQuest Properties has brokered the sale of Inwood Forest Shopping Center, an 89,213-square-foot retail center located at 5700-46 W. Little York Road in Houston. About 75 percent of the six-acre property’s tenant roster consists of businesses that have been deemed essential. Grocer La Michoacana anchors the center. David Luther, Bob Conwell and Josh Friedlander of NewQuest represented the seller, RPI Interests I Ltd., and procured the buyer, Fahra International Inc.

May 28, 2020

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