BEDFORD, TEXAS — Dougherty Mortgage has originated an undisclosed amount of Fannie Mae acquisition financing for Waters Park Luxury Apartments, a 168-unit multifamily community in Bedford, located northeast of Fort Worth. The pet-friendly property offers one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center and pet park. Dougherty originated the loan, which carried a 12-year term and a 30-year amortization schedule, through a partnership with Old Capital Lending. The borrower was not disclosed.
HOUSTON — NAI Partners has negotiated a 49,911-square-foot industrial leased at 3401 Navigation Blvd. in Houston for CRI Inc., a locally based furniture installation company. Michael Keegan and John Ferruzzo of NAI Partners represented the tenant in the lease negotiations. Bob Berry and Grant Hortenstine of Avison Young represented the landlord, Stonelake Capital Partners LLC.
NEW YORK CITY — A partnership between Charney Construction & Development and Tavros Holdings is nearing completion of The Dime, a 350,000-square-foot mixed-use project in Brooklyn. The tower incorporates the Dime Savings Bank building, originally constructed in 1908, into a mixed-use development featuring 177 residential units, more than 100,000 square feet of office space and 50,000 square feet of ground-floor retail space. Amenities include an acre of outdoor space, a basketball court and a 10,000-square-foot rock climbing gym recently leased by MetroRock. Fogarty Finger is the architect of the project.
NEW YORK CITY — Seagis Property Group has acquired two industrial properties totaling 101,000 square feet in New York City. The first property, a 75,000-square-foot warehouse in Queens, features 25-foot ceiling heights and 19 exterior loading docks and has been re-tenanted. The second property, a 26,000-square-foot warehouse, features a 5,000-square-foot secured yard and is fully occupied. The sellers and sales prices were undisclosed.
ROCKAWAY, N.J. — Atlantic Health System has purchased Morristown Medical Center Health Pavilion, a 92,326-square-foot medical office building in Rockaway, located approximately 35 miles west of New York City, for $26 million. The building opened in 2016, and the Atlantic Health System was the sole occupant at the time of sale. JLL’s Jose Cruz and Ben Appel represented the seller in the transaction.
IRWIN, PA. — The Knapp Group, a division of Marcus & Millichap, has brokered the $7.5 million sale of two seniors housing properties in Irwin, located approximately 20 miles southeast of Pittsburgh. Combined, the communities comprise 95 units of independent living and assisted living. One of the properties was built in 1999 and the other in 1959. The names of the facilities were not disclosed. The seller was a physician within the community looking to retire from the seniors housing business. A local owner-operator acquired the communities for $7.5 million. Joseph Knapp of the Knapp group represented the seller.
NEW JERSEY — CBRE has arranged the $8.27 million sale of nine civic properties from the Youth Consultation Services (YCS) portfolio in New Jersey. The properties comprise a mix of youth centers and schools located in Montclair, Hackensack, Newark, Somerdale, Gloucester, Estell-Manor, Vineland and Blackwood. Three different buyers purchased the assets, one of whom bought seven buildings as part of a sale-leaseback with YCS. The two other buyers purchased buildings that had been recently vacated by YCS. CBRE’s Charles Berger and Elli Klapper, along with Randy Eigen and Donald Sperling of Brokerage Services, represented the seller in the transaction.
CARMEL, IND. — Cushman & Wakefield has arranged the $61 million sale of The Barrington of Carmel, a 267-unit, entrance-fee continuing care retirement community in Carmel, a suburb of Indianapolis. The 372,000-square-foot campus includes 137 independent living units, 56 assisted living units, 26 memory care units and 48 skilled nursing beds. Amenities include a café, salon, fitness center, activity rooms, dining rooms and walking trails. Built in 2013, the property is situated on a nearly 20-acre site at 1335 S. Guilford Road. Allen McMurtry, David Kliewer and Paul Carr of Cushman & Wakefield represented the seller, Texas-based Senior Quality Lifestyles Corp. Prairie Landing Community Inc., an affiliate of Indianapolis-based BHI Senior Living, acquired the asset through a bankruptcy sale process.
CINCINNATI AND COLUMBUS, OHIO — Colliers International has brokered the $35 million sale of the Orange Point Portfolio, a six-property industrial portfolio within the Cincinnati and Columbus markets. The portfolio totals 591,695 square feet and has a combined occupancy level of 93.7 percent. The properties include: 2700-2758 Kemper Road and 2800-2888 Kemper Road in Sharonville; 6900-6918 Fairfield Business Drive in Fairfield; 4514-4548 Cornell Road in Blue Ash; and 7719 Graphics Way and 459 Orange Point Drive in Lewis Center. Boston-based Plymouth REIT purchased the portfolio from Orange Point SWS LLC. Steve Timmel, Jeff Johnston, Chris Prosser, Will Roberts, Matt Smyth and Jonathan Schuen of Colliers brokered the sale.
DES PLAINES, ILL. — The Opus Group has completed construction of Ellison Apartments, a 113-unit apartment complex in Des Plaines. The project, which includes 1,349 square feet of street-level retail space, was a joint venture with Berkshire Residential Investments. Amenities include a fitness center, clubroom, pet spa, game lounge and outdoor amenity deck. A grand opening event is scheduled for Thursday, Sept. 26. Opus served as developer, design-builder and structural engineer. ESG Architects designed the property.