Property Type

Walker & Dunlop Provides $12.8M Financing for Skilled Nursing Facility in Illinois

by Kristin Harlow August 29, 2019

AURORA, ILL. — Walker & Dunlop Inc. has provided $12.8 million in bridge financing for The Grove Fox Valley, a 156-bed skilled nursing facility in Aurora, approximately 40 miles west of downtown Chicago. The debt was structured and provided by Walker & Dunlop’s bridge lending program, which utilizes its balance sheet to offer short-term, nonrecourse loans for properties that are being repositioned as part of a new business strategy. Led by Joshua Rosen, the Walker & Dunlop team structured the financing to cover 100 percent of the acquisition cost in addition to working capital and capital expenditures for the owner, Cascade Capital Group. The loan includes a nine-month term, flexible prepayment options and full-term, interest-only payments. The plan is to replace the loan with HUD financing in early 2020.

August 29, 2019

Acquisitions Midwest Office Ohio

Reichle Klein Group Arranges $1.7M Sale of Office Building in Maumee, Ohio

by Kristin Harlow August 29, 2019

MAUMEE, OHIO — Reichle Klein Group has arranged the $1.7 million sale of the St. George Professional Office Building in Maumee, about 10 miles southwest of Toledo. The 16,307-square-foot property is located at 1661 Holland Road within Arrowhead Business Park. Ryan Miller of Reichle Klein represented the seller, KMP Management Group LLC. Toledo Med Partner LLC purchased the building.

August 29, 2019

Life Sciences Loans Massachusetts Mixed-Use Northeast

JLL Arranges $140M Construction Loan for Life Sciences Building in Metro Boston

by Alex Patton August 29, 2019

SOMERVILLE, MASS. — JLL has arranged a $140 million construction loan for 101 South Street, a life science development in Somerville, a northern suburb of Boston. The project represents Phase I of the borrower’s planned mixed-use development, which will include retail and residential components as well as public green space. JLL arranged the financing on behalf of the borrower, a joint venture between New York-based developer DLJ Real Estate Capital Partners and Boston-based developer Leggate McCall Properties. Construction is slated for completion in 2021.

August 29, 2019

Acquisitions Multifamily New York Northeast

Rosewood Realty Group Arranges $10.5M Sale of Manhattan Multifamily Building

by Alex Patton August 29, 2019

NEW YORK CITY — Rosewood Realty Group has arranged the $10.5 million sale of 495 Amsterdam Avenue, a five-story multifamily building in Manhattan. Built in 1900, the 9,975-square-foot property features eight four-bedroom apartments and three retail spaces that are leased to a spa and electronics and clothing retailers. Aaron Jungreis of Rosewood Realty Group represented the buyer, Rudd Realty Management, in the transaction. Jungreis also represented the seller, 162 West 84th Street Corp.

August 29, 2019

Acquisitions Connecticut Northeast Retail

Marcus & Millichap Brokers $4.3M Sale of Retail Center in Brooklyn, Connecticut

by Alex Patton August 29, 2019

BROOKLYN, CONN. — Marcus & Millichap has brokered the $4.3 million sale of Brooklyn Commons, a retail center located about 45 miles east of Hartford. The 106,900-square-foot property was 60 percent leased at the time of sale to tenants including Ocean State Job Lot, Dollar Tree and Subway. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a private investor, in the transaction. The team also represented the buyer, an undisclosed limited liability company.

August 29, 2019

Industrial Leasing Activity New Jersey Northeast

Leco Plastics Signs 31,550 SF Industrial Lease in Saddle Brook, New Jersey

by Alex Patton August 29, 2019

SADDLE BROOK, N.J. — Leco Plastics Inc., a New Jersey-based manufacturer, has signed a 31,550-square-foot industrial lease in Saddle Brook, a western suburb of New York City. The building features 5,000 square feet of office space and 20-foot ceiling heights. Steven Leitner and Scott Perkins of NAI James Hanson represented the owner, Wilbur ’96 LLC, in the transaction.

August 29, 2019

Development Office Texas

Concord Properties to Develop 101,000 SF Office Building in San Antonio

by Taylor Williams August 29, 2019

SAN ANTONIO — Locally based firm Concord Properties will break ground in mid-September on Concord Park III, a 101,000-square-foot office building that will be located on East Sonterra Boulevard in north-central San Antonio. Designed by Dallas-based HKS Architects, the four-story property will feature a conference center, outdoor seating areas and a deli. Concord Park III is expected to be available for occupancy in the first quarter of 2021. Endura Advisory Group LLC will handle leasing.

August 29, 2019

Industrial Leasing Activity New Jersey Northeast

NAI Hanson Negotiates 27,600 SF Industrial Lease in Elmwood Park, New Jersey

by Alex Patton August 29, 2019

ELMWOOD PARK, N.J. — NAI James Hanson has negotiated a 27,600-square-foot industrial lease for Best Value Kosher Foods in Elmwood Park, a western suburb of New York City. The space is located within 475 Mola Boulevard, a 45,000-square-foot building that features 7,000 square feet of office space, six loading docks and a fitness center. Jeff DeMagistris, Tom Vetter, and Tom Ryan of NAI James Hanson represented Best Value Kosher Foods in the lease negotiations. The NAI team also represented the owner, The Stro Companies.

August 29, 2019

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 205-Unit Apartment Community in Waco

by Taylor Williams August 29, 2019

WACO, TEXAS — Marcus & Millichap has brokered the sale of Village Square, a 205-unit multifamily community in Waco. Built in 1983, the property features amenities such as a pool, outdoor grilling area, volleyball court, onsite laundry facilities and access to walking and biking trails. Sean Scott, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the San Antonio-based seller and procured the Dallas-based buyer in the transaction. Both parties were limited liability companies that requested anonymity.

August 29, 2019

Acquisitions Multifamily Texas

Limited Liability Company Acquires 72-Unit Apartment Complex in Mineral Wells, Texas

by Taylor Williams August 29, 2019

MINERAL WELLS, TEXAS — IPI Properties 25 LLC has acquired Cedar View Apartments, a 72-unit complex in Mineral Wells, located about 50 miles west of Fort Worth. Built in 2005, the property consists of 18 single-story residential building, a leasing/office building and a maintenance building. Amenities include a fitness center, business center, playground, clubhouse and onsite laundry facilities. Dougherty Mortgage arranged $1.7 million in Fannie Mae financing on behalf of the new owner. The acquisition loan carried a 12-year term and a 30-year amortization schedule.

August 29, 2019

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