Property Type

NKF Capital Markets Arranges $250M Refinancing for Office Portfolio in Manhattan

by David Cohen October 16, 2018

NEW YORK CITY — NKF Capital Markets has arranged the $250 million refinancing of a two-building office portfolio in Manhattan’s financial district. Located at 80-90 Maiden Lane, the adjacent properties include a combined 610,000 square feet of office space. Both properties have been recently renovated. Dustin Stolly and Jordan Roeschlaub of NFK Capital Markets represented the borrowers — Normandy Real Estate Partners, Meadow Partners and AM Property Holding Corp. — in securing the floating-rate loan from Invesco Real Estate.

October 16, 2018

Development Industrial New Jersey Northeast

Liberty Property Trust Breaks Ground on 441,380 SF Industrial Facility in New Jersey

by David Cohen October 16, 2018

BURLINGTON, N.J. — Liberty Property Trust has broken ground on a 441,380-square-foot industrial facility in Burlington. Located at 160-180 Dulty’s Lane, the project will feature 36-foot clear heights, 54-foot by 55-foot column spacing, 88 dock doors, space for 105 trailers and 330 parking spaces. The facility, which Dishner Architects is designing, is slated for completion in the first quarter of 2019. The general contractor is Blue Rock Construction.

October 16, 2018

Acquisitions Industrial New Jersey Northeast

HFF Negotiates $8.2M Sale of Industrial Development Site Near Newark International Airport

by David Cohen October 16, 2018

NEWARK, N.J. — HFF has negotiated the $8.2 million sale of a 4.5-acre land parcel in Newark. The property is located at 120 Frontage Road and is adjacent to Newark Liberty International Airport. HFF represented the undisclosed seller in the transaction. The buyer plans to construct an 80,000-square-foot industrial building on the site. The site is also located near Port Newark-Elizabeth, one of the largest containerized deep-water shipping terminals on the East Coast.

October 16, 2018

Loans Massachusetts Multifamily Northeast Seniors Housing

Cushman & Wakefield Recapitalizes 289-Unit Portfolio in New England for LCB Senior Living

by David Cohen October 16, 2018

BOSTON — Cushman & Wakefield Senior Housing Capital Markets Group has arranged recapitalization financing for a 289-unit independent living, assisted living and memory care portfolio in New England. The borrower is LCB Senior Living and its joint venture capital partner, Harrison Real Estate Capital, which recently acquired the properties. The amount of the financing was not disclosed. The assets include four properties in Ipswich, Mass. (built in 2014); South Windsor, Conn. (built in 2015); Avon, Conn. (built in 2015); and Lincoln, R.I. (built in 2009). The Cushman & Wakefield team that led the transaction included Rick Swartz, Jay Wagner, Jim Dooley and Caryn Donahue. In addition to the sale, Cushman & Wakefield arranged acquisition financing on behalf of the buyer with PGIM Real Estate Finance that closed concurrently with the recapitalization. The financing holds a 10-year term that is interest-only through maturity.

October 16, 2018

Acquisitions Maine Northeast Office

Cardente Real Estate Brokers $1.1M Sale of Office Property in Maine

by David Cohen October 16, 2018

FALMOUTH, MAINE — Cardente Real Estate has brokered the $1.1 million sale of a 6,085-square-foot office property in Falmouth. Located at 19 Northbrook Drive, the tenant roster includes Goldman Financial Planning, Maine Laser, Edward Jones and Joshua Rent. Matthew Cardente of Cardente Real Estate represented the seller, Mark Richards. The buyer was CPM-19 Northbrook Drive LLC.

October 16, 2018

Stadium-Walk-Overlook-Huntcrest-Atlanta-GA

Acquisitions Georgia Multifamily Southeast

Walker & Dunlop Brokers $133M Sale of Two Multifamily Properties in Metro Atlanta

by Amy Works October 16, 2018

ATLANTA — Walker & Dunlop’s Investment Sales division has arranged the sale of Stadium Walk and Overlook at Huntcrest, two multifamily properties located in Atlanta. Atlanta-based Brand Properties sold the properties to Charleston-based Blaze Partners for a total of nearly $133 million. Kris Mikkelsen and Chris Goldsmith of Walker & Dunlop represented the seller in the deal. Additionally, following the sale, Stephen West, Matthew Wallach and Justin Nelson of Walker & Dunlop’s multifamily finance and capital markets team arranged financing for the buyer’s acquisition. Situated in Atlanta’s Cumberland submarket in Cobb County, Stadium Walk features 309 Class A units and surface parking. The community is within walking distance to The Battery Atlanta and SunTrust Park, home of the Atlanta Braves. The 229-unit Overlook at Huntcrest is located in the Sugarloaf submarket of Gwinnett County.

October 16, 2018

Loans Multifamily Southeast Virginia

Greystone Provides $74.5M Freddie Mac Financing for 1,768-Unit Multifamily Portfolio in Southern Virginia

by Amy Works October 16, 2018

NEW YORK — Greystone has provided $74.5 million in Freddie Mac financing for a 16-property multifamily portfolio located across Virginia. New York-based The Lightstone Group, a privately held real estate company, is the borrower. Dan Sacks of Greystone’s New York office originated the separate loans for the various affordable housing and market-rate rental properties. Greystone provided a combination of both affordable and conventional market-rate Freddie Mac loans, each with 10-year terms. The 1,768-unit portfolio serves a cross-section of multifamily housing needs, including student housing, affordable housing and workforce housing. Located throughout the Interstate 81 corridor in Southern Virginia, the properties are located in or near Roanoke, Harrisonburg, Blacksburg and Virginia Beach.

October 16, 2018

Development Industrial Leasing Activity Mississippi Southeast

Core5 Completes First Phase of 2.5 MSF Logistics Center in Metro Memphis

by Amy Works October 16, 2018

HORN LAKE, MISS. — Atlanta-based Core5 Industrial Partners has completed its first two inventory buildings at DeSoto 55 Logistics Center, a business park in Horn Lake, a Mississippi town within the greater Memphis market. Situated along the Interstate 55 corridor, the 175-acre business park will feature more than 2.5 million square feet of Class A space once fully developed. The first phase included Building A1, a 581,475-square-foot cross-dock facility that is expandable to more than 1 million square feet, and Building B, a 300,000-square-foot, rear-loading building. Core5 has preleased 200,000 square feet of space within Building B to DSV Solutions, a global provider of supply chain solutions to customers across multiple industries. DSV will utilize the entire 200,000 square feet of an existing client’s distribution facility serving the Eastern United States. Dan Wilkinson, Allen Wilkinson and Brad Kornegay of Colliers International represented Core5 in the lease transaction, as well as the entire development.

October 16, 2018

Acquisitions Florida Multifamily Southeast

Cortland Sells 328-Unit Multifamily Community in Central Florida for $49.7M

by Amy Works October 16, 2018

OCALA, FLA. — Cortland Partners has completed the sale of Deerwood Village Apartment Homes, a garden-style multifamily community located at 1850 SE 18th Ave. in Ocala. An affiliate of Boston-based West Shore LLC acquired the Central Florida property for $49.7 million, or $151,677 per unit. Constructed in 2006, Deerwood Village comprises 40 two-story residential buildings, one clubhouse and one maintenance building. The community features 328 units in a mix of one-, two- and three-bedroom units with an average size of 1,015 square feet and an average market rent of $1,266. All units features full-size washers and dryers, deep-soaking bathtubs, granite countertops and nine-foot or vaulted ceilings. Situated on 38 acres, the community amenities include a renovated clubhouse and leasing center, resort-inspired swimming pool, Wi-Fi café, car care center, dog park, business center, nature trail and a 24-hour fitness center. At the time of sale, the property was 94 percent occupied. Jay Ballard and Ken Delvillar of Cushman & Wakefield’s Florida Multifamily team represented Atlanta-based Cortland in the transaction.

October 16, 2018

Acquisitions Mississippi Multifamily Southeast Student Housing

Vesper Acquires 792-Bed Student Housing Community Near University of Southern Mississippi

by Amy Works October 16, 2018

HATTIESBURG, MISS. — Vesper Holdings has acquired Vie at Hattiesburg, a 792-bed student housing community located near the University of Southern Mississippi campus in Hattiesburg. The property offers two- and four-bedroom units with bed-to-bath parity. Shared amenities include a clubhouse, swimming pool and poolside lounge with a TV, 24-hour fitness center, business center, computer lab, sand volleyball court and a private shuttle to campus. The community’s previous owner, whose name was undisclosed, recently completed a $2 million renovation that included upgrades to flooring, appliances, furniture, clubhouse and the fitness center. Vesper is planning to invest an additional $600,000 to further upgrade the amenities, enhance the property’s exteriors and make substantial technology upgrades throughout the complex.

October 16, 2018

Newer Posts

Older Posts