Property Type

Greystone Provides $8.2M Refinancing for Multifamily Portfolio in Queens

by David Cohen November 9, 2018

NEW YORK CITY — Greystone has provided an $8.2 million Fannie Mae loan to refinance a three-property multifamily portfolio in Queens. The portfolio consists of three, rent-stabilized properties totaling 52 units. The properties are located at 177-50 South Conduit Ave., 176-20 and 177-16 South Conduit Ave. Amenities at the properties include on-site laundry, covered parking and community rooms as well as video security. Terms of the financing included a 10-year term and a 30-year amortization schedule. The borrower was undisclosed.

November 9, 2018

Loans Massachusetts Northeast Retail

Fantini & Gorga Arranges $3M Acquisition Loan for Ground-Leased Gas Station in Massachusetts

by David Cohen November 9, 2018

PLYMOUTH, MASS. — Fantini & Gorga has arranged a $3 million loan for the purchase of a gas station ground lease in Plymouth. Located at 7 Home Depot Drive, the property is currently occupied by a Shell gas station. The property also includes a car wash and convenience store. Casimir Groblewski and Jon Garcia of Fantini & Gorga secured the financing for the borrower, 7 Home Depot Drive LLC, through a Massachusetts based financial institution. Terms of the loan were undisclosed. The seller was Balder LLC.

November 9, 2018

Acquisitions Georgia Retail Southeast

United Properties Buys Shopping Center in North Georgia from CBL for $16.5M

by Amy Works November 9, 2018

FORT OGLETHORPE, GA. — East Meadow, N.Y.-based United Properties has purchased Parkway Plaza, a retail center located at 125-234 Parkway Drive in Fort Oglethorpe. Chattanooga, Tenn.-based CBL Properties sold the asset for $16.5 million. Developed in 2015, the 134,047-square-foot retail center was fully leased at the time of sale to tenants including Hobby Lobby, Marshalls, Petco, Rack Room Shoes and Ross Dress for Less. Fred Victor of Transwestern handled the disposition and all-cash acquisition.

November 9, 2018

Acquisitions Florida Office Southeast

Pacer Partners Acquires 151,479 SF Office Portfolio in Orlando

by Amy Works November 9, 2018

ORLANDO, FLA. — Pacer Properties has purchased a two-building office portfolio located within Orlando’s SouthPark Center, a suburban master-planned business center near Orlando International Airport. AEW Capital Management sold the asset for an undisclosed price. Located at 700 and 800 SouthPark Center and totaling 151,479 square feet, the properties are 100 percent leased to a diverse group of tenants, including Catamaran (a subsidiary of UnitedHealth Group), Walgreens and Banco de Brasil. Michael Lerner, Mike Davis, Rick Brugge of Cushman & Wakefield’s Capital Markets team represented the seller in the transaction.

November 9, 2018

Alabama Development Georgia Retail Southeast

Watkins Real Estate Develops Two Publix-Anchored Shopping Centers in Georgia, Alabama

by Amy Works November 9, 2018

BUFORD, GA., AND NORTHPORT, ALA. — Atlanta-based Watkins Real Estate Group has developed two Publix-anchored neighborhood retail centers in the suburbs of Atlanta and Tuscaloosa, Ala., totaling more than 126,000 square feet. Located in Buford, Holland Point is a 68,600-square-foot center along the city’s Quality Development Corridor on Hamilton Mill and Bogan roads. The property has nearly 20,000 square feet of inline space available, as well as three one-acre outparcels. Bristol Park, located at the intersection of Highway 69 and Mitt Lary Road in Northport, is a 56,800-square-foot center that features two available outparcels and 10,500 square feet of available shop space.

November 9, 2018

Acquisitions Midwest Minnesota Office Wisconsin

R2, Skydeck Acquire 11-Building Office Portfolio in Minneapolis, Milwaukee

by Kristin Harlow November 9, 2018

MINNEAPOLIS AND MILWAUKEE — R2 Cos. and Skydeck LLC have acquired an 11-building, 525,000-square-foot office portfolio in Minneapolis and Milwaukee. The Minneapolis properties are located in the Northeast Arts District. Tenants include Blu Dot, Tactile Medical, Anagram International, Object Partners, AON, Sociable Cider Werks, Bauhaus Brew Labs and Dogwood Coffee.The Milwaukee property is The Tannery, a creative office campus in the Walker’s Point submarket. Advocate Aurora Health anchors the property. The portfolio was 95 percent leased at the time of sale. The buyer plans to make significant improvements via new amenities such as bike rooms, fitness centers and dedicated outdoor space. The purchase price was in excess of $60 million.

November 9, 2018

Acquisitions Midwest Missouri Multifamily

CAPREIT Purchases Two Apartment Communities in Suburban St. Louis

by Kristin Harlow November 9, 2018

O’FALLON AND WENTZVILLE, MO. — CAPREIT has purchased two apartment communities in St. Charles County within suburban St. Louis. The purchase price was $45 million, according to the St. Louis Business Journal. The properties include the 256-unit Peine Lakes in Wentzville and the 266-unit O’Fallon Lakes in O’Fallon. Peine Lakes is home to 205 affordable housing units and 5 market-rate units. Both properties feature units that range in size from 802 to 1,157 square feet. The seller was not disclosed.

November 9, 2018

Development Illinois Industrial Midwest

Cushman & Wakefield to Complete Lease-Up of 1 MSF Industrial Development in Chicago

by Kristin Harlow November 9, 2018

CHICAGO — Cushman & Wakefield has been selected by Hilco Redevelopment Partners to complete lease-up of Exchange 55, which is currently under development. The 1 million-square-foot warehouse is the largest new industrial development available in Chicago, according to Cushman & Wakefield. The planned development is a fully entitled and zoned for industrial use. Hilco plans to break ground immediately, with completion slated for the first quarter of 2020. The development is intended to attract a variety of users from e-commerce and manufacturing to food and cold storage and rail users. The project, located within Chicago’s Little Village neighborhood, will feature a clear height of 40 feet, 70-foot speed bays, multiple access points and options for parking expansion.

November 9, 2018

Illinois Industrial Loans Midwest Self-Storage

Associated Bank Provides $3.8M Loan for Self-Storage Conversion in Cicero, Illinois

by Kristin Harlow November 9, 2018

CICERO, ILL. — Associated Bank has provided a $3.8 million loan for the acquisition of two industrial buildings in Cicero. The borrower, JSM Venture Inc., plans to convert a 115,379-square-foot building into a 693-unit self-storage facility. The property, located at 1309 S. Cicero Ave., was formerly home to Brad Foote Gear Works. The self-storage facility will be climate-controlled and span 63,587 net rentable square feet. JSM’s acquisition also includes a 28,000-square-foot building that will either be demolished and paved for parking or improved and leased at a market rate. JSM is a Northfield, Ill.-based self-storage development company headed by John S. Mengel. Daniel Barrins of Associated Bank originated the loan, terms of which were not disclosed.

November 9, 2018

Acquisitions Indiana Midwest Retail

Baum Arranges $3.6M Sale of Retail Building in Elkhart, Indiana

by Kristin Harlow November 9, 2018

ELKHART, IND. — Baum Realty Group LLC has arranged the sale of a retail building leased to MOD Pizza and McAlister’s Deli in Elkhart for $3.6 million. Newly constructed, the 7,305-square-foot property is located 15 miles east of South Bend. Patrick Forkin of Baum represented the seller, a national retail developer. A Canadian-based institutional buyer purchased the asset.

November 9, 2018

Newer Posts

Older Posts