WEATHERFORD, TEXAS — STRIVE has arranged the sale of Peaster Plaza, a 5,940-square-foot retail strip center located in the southern Dallas suburb of Weatherford. Tenants include Lott Cleaners and Rev 180 Fitness. Harrison Beethe and Hudson Lambert of STRIVE represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
NEW YORK CITY — John Hancock Life Insurance Co. has provided an $80 million loan for the refinancing of Gracie Mews, a 310-unit multifamily building on Manhattan’s Upper East Side. The 35-story building was developed in 1980 and offers amenities such as a pool, health club, fitness center and 24-hour concierge services. Scott Singer, Andy Singer, Kevin Swartz and Jeffrey Moroch of Avison Young arranged the 10-year, fixed-rate loan on behalf of the owner, Jack Resnick & Sons.
CHELMSFORD AND MEDFORD, MASS. — A partnership between two local investment firms, Marcus Partners and Rhino Capital Advisors, has purchased a portfolio of five industrial properties totaling 307,053 square feet in the Boston area. The sales price was $40.5 million. Four of the properties are located in Chelmsford, and the fifth is located in Medford. Citizens Bank provided acquisition financing for the deal. The seller was not disclosed.
NEW YORK CITY — Eastern Union has arranged a $20.5 million loan for the refinancing of a 49-unit apartment building in the Jamaica area of Queens. Zoria Apartments is an eight-story building that houses 35 one-bedroom units, 12 two-bedroom apartments and two penthouses, as well as four retail spaces and a community facility. Alex Jaffa of Eastern Union arranged the loan through Wells Fargo. The borrower was not disclosed.
MOUNT LAUREL, N.J. — NAI Mertz has brokered the sale of a 106,000-square-foot industrial building in the Southern New Jersey community of Mount Laurel. The building at 116 Gaither Drive was completed in 1982 and features a clear height of 22 feet. Jonathan Klear of NAI Mertz represented the undisclosed buyer in the deal. Dean Torosian, Nate Demetsky and Matt Kemery of JLL represented the seller, Endurance Real Estate Group.
BOSTON — Urban Edge Partners has acquired Brighton Mills Center, a 91,000-square-foot retail property in Boston. Grocer Star Market anchors the center, and other tenants include Petco, Spring Shabu Restaurant, Bank of America and McDonald’s. Nat Heald, Jordana Roet, Connor Scott and Scott Dragosled of CBRE represented the undisclosed seller in the negotiations. The team also procured the buyer. The sales price was not disclosed.
FONTANA, CALIF. — Bridge Logistics Properties (BLP) has acquired a 1.1 million-square-foot multi-tenant distribution facility in Fontana for $174 million in an off-market transaction. Additional details of the transaction were not released. Michael Hefner, Juan Guiterrez and Shy Assar of Voit Real Estate Services Anaheim-Ontario brokerage team represented the buyer in the deal. Situated on 45.9 acres at 10681 Production Ave., the cross-dock distribution center features 220 dock-high loading doors, 185-foot truck courts, 274 trailer parking stalls, an ESFR sprinkler system and immediate access to Interstate 10.
SAN DIEGO — Bravo Capital has provided a $49.4 million HUD 223(f) refinance for a 206-unit multifamily property in San Diego. The loan provides the undisclosed borrower with long-term, fixed-rate, nonrecourse financing and improves cash-flow stability. The HUD loan refinanced the property’s existing debt and secured favorable terms for the borrower, according to Bravo.
LAKE FOREST, CALIF. — S3 Hotel Group has received $38.6 million in refinancing for the 208-key, dual-branded Homewood Suites by Hilton and Hampton Inn Irvine Spectrum Lake Forest hotel. Olga Walsh of JLL Capital Markets Debt Advisory led the team to secure a five-year, fixed-rate loan through a private wealth management division of a global financial services firm for the borrower. Located at 23021 Lake Center Drive in Lake Forest, the property features 116 Homewood Suites rooms and 92 Hampton Inn rooms. The Homewood Suites offers extended-stay accommodations with full kitchens, dishwashers and cooking utensils, while Hampton Inn rooms provide traditional hotel amenities with modern furnishings. Onsite amenities include 2,000 square feet of meeting space, a 24-hour fitness center, an outdoor pool with barbecue facilities, guest laundry, complimentary hot breakfast buffet, evening bar service and a 24-hour convenience shop. The Homewood Suites portion features additional amenities including complimentary evening social events Monday through Thursday.
COACHELLA, CALIF. — JLL Capital Markets has arranged the sale of Coachella Plaza, a shopping center located at 50249 Cesar Chavez St. in Coachella. The asset traded between two private investors for $12.9 million. Planet Fitness, WSS, Absolute Dollar and Innercare are tenants at the fully occupied, 84,820-square-foot property, which is shadow anchored by Cardenas Markets. Max Kinsbruner and Brian Quinn of JLL represented the seller and buyer in the deal.