NEW YORK CITY — Affiliates of Goldman Sachs & Co. have funded a $145 million loan for the refinancing of the Hôtel Barrière Fouquet in Manhattan. The 97-room hotel, which is located at 456 Greenwich St. in the borough’s Tribeca neighborhood, opened in 2022 and features a Parisian brasserie, a spa, art deco interiors and a private screening room. The loan retires the original construction and mezzanine financing that was provided by South Korea-based Hana Financial Investment. Law firm Rosenberg & Estis PC represented the borrower, an entity doing business as CBCS Washington Street LP, in the transaction, while attorneys from Haynes & Boone LLP represented the lender.
TUXEDO, N.Y. — White Oak Real Estate Capital has provided a $46.2 million construction loan for a build-to-rent residential project in Tuxedo, located along the New York-New Jersey border. The project, which represents Phase I of The Village at Tuxedo Reserve, will add 93 rental units within the 1,200-acre Tuxedo Reserve master-planned development. Phase I is slated for a fall 2026 completion. Max Ralby led the Newmark team that arranged the debt through White Oak. Related Cos. is developing The Village at Tuxedo Reserve, and Lennar Corp. is the master developer of the larger Tuxedo Reserve community, which is planned to ultimately feature about 1,300 residences.
RANDOLPH, N.J. — Woodmont Properties and Canoe Brook Development have begun leasing WoodBrook at Randolph, a 199-unit apartment complex located about 40 miles west of Manhattan in Northern New Jersey. WoodBrook at Randolph consists of a four-story, mid-rise building that houses 97 traditional flats and seven townhome-style buildings that house the remaining 102 residences. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, coworking spaces and a game den with a sports simulator. Construction began in spring 2024. Information on starting rents was not announced.
MILPITAS, CALIF. — BWE has arranged $65 million in bond financing for Ivy Park at Milpitas, a seniors housing property in Milpitas. The financing was secured on behalf of a joint venture between Blue Mountain Enterprises and SRM Development. Oakmont Management Group is managing the property. Ryan Stoll and Taylor Mokris of BWE arranged the financing. The loan was structured as a 15-year bond issuance, credit-enhanced by a letter of credit from Poppy Bank, and features five years of interest-only payments along with a favorable covenant structure. The financing provides the sponsor with enhanced flexibility and a long-term runway to complete lease-up and drive operational performance. The four-story, 205,000-square-foot Ivy Park at Milpitas offers 199 independent living, assisted living and memory care units, as well as a subterranean parking garage. Community amenities include all-day dining at The Vine at Ivy restaurant, a fitness center, indoor heated pool, library, salon, movie theater and a landscaped outdoor courtyard. The community also offers 24-hour staffing, concierge services and a social calendar for residents.
WESTMINSTER, COLO. — Mesa West Capital has provided an affiliate of Crow Holdings Capital with $52 million in short-term, floating-rate first mortgage debt to refinance Canyon Reserve at the Ranch, an apartment community in Westminster. The property is located at 2890 W. 116th Place. Built in 1984, the 17-building, garden-style asset was fully repositioned by the sponsor in 2022. Canyon Reserve at the Ranch features 256 one- and two-bedroom units with modern finishes, including stainless steel appliances, in-unit washers/dryers, walk-in closets and private outdoor spaces. Community amenities include a resort-style swimming pool, outdoor grilling area, fitness center and dog park.
STOCKTON, CALIF. — Family-owned real estate platform Mershops has acquired Weberstown Mall, an 800,000-square-foot regional shopping center located in Stockton, for $50.8 million. Originally opened in 1966, the center is anchored by JCPenney, Dillard’s and Barnes & Noble. Other tenants include Old Navy, Five Below, BoxLunch, Foot Locker, Lids, Victoria’s Secret and Journeys. Steerpoint Capital brokered the sale on behalf of Mershops. The seller was Washington Prime Group. This transaction marks Mershops’ sixth enclosed shopping center acquisition across California and Nevada. Mershops’ current portfolio includes North County Mall in Escondido, Calif.; Galleria at Sunset in Henderson, Nev.; Antelope Valley Mall in Palmdale, Calif.; The Shops at Montebello in Montebello, Calif.; Northridge Mall in Salinas, Calif.; and two office campuses in Silicon Valley. The company plans to make reinvestments for each property, blending retail, hospitality and community elements.
DARTMOUTH, MASS. — Pennsylvania Real Estate Investment Trust (PREIT) has welcomed five new tenants to Dartmouth Mall, a 671,000-square-foot regional shopping and dining destination in southeast Massachusetts. Boot Barn will open a 15,000-square-foot store this fall for its first location in the area. Locker Room by Lids expects to open at the end of the month, while Chick-fil-A is planning an outparcel restaurant at the property. Cinnabon and Carvel have already opened. These additions follow the redevelopment of the former Sears space, which is now occupied by Ulta Beauty, Burlington and Aldi.
SANTA CLARA, CALIF. — First Industrial Realty Trust has acquired a low-coverage industrial property located at 415 Aldo Ave. and 420 Nelo St. in Santa Clara for $10.6 million. Situated on 2.4 acres, the fully occupied site includes a 9,896-square-foot industrial facility and secured yard space. Ray Devlin of Colliers represented the buyer, while Mark Biagini of Biagini Properties represented the undisclosed sellers in the deal.
PORTLAND, ORE. — Norris & Stevens has arranged the sale of a 16-room residential care facility located at 19909 SE Stark St. in Portland. The Pribeagu family sold the asset to an undisclosed buyer for $5.3 million. Constructed in 2003 and zoned for 34 beds, the 13,414-square-foot facility comprises two buildings on 1.4 acres. All 16 rooms are fully furnished and ADA compliant with private bathrooms and individual temperature control. Facility amenities include a full kitchen, three laundry rooms, an intercom system, office spaces, a large community room, two storage sheds and approximately 3,000 square feet of garage space. David Chatfield of Portland-based Norris & Stevens represented the seller, while Lindsay Murphy of Apex Real Estate Partners represented the buyer in the deal.
BEDFORD, MASS. — Lantheus has signed a 41,000-square-foot office and life sciences lease in Bedford, a northwestern suburb of Boston.The provider of diagnostic and therapeutic products and services is taking space at The Core @ Crosby, a nine-building, 592,000-square-foot campus. Cushman & Wakefield represented Lantheus in the lease negotiations. The landlord is a partnership between Boston-based investment firm Anchor Line Partners and Alloy Properties, the national life sciences platform of TPG Real Estate.