DANBURY, CONN. — CoastalStates Bank has provided a $6.5 million senior loan for a 48-unit assisted living community in Danbury, approximately 60 miles northeast of Manhattan. The borrower is Woodbine Senior Living. The loan will be used for the acquisition and stabilization of the 42,198-square-foot facility. Woodbine Senior Living partnered with Locust Point Capital Inc. and affiliates, which provided a $3.8 million preferred equity investment.
NEW YORK CITY — Rosewood Realty has arranged the $3.7 million sale of a four-story apartment building in the Harlem neighborhood of New York City. Located at 2032 Fifth Ave., the 6,090-square-foot property was built in 1909 and consists of eight units. Aaron Jungreis and Jonathan Brody represented the seller, Omek Capital, in the transaction. The buyer was a private investor. The townhouse sold for 14.8 times the current rent roll and at a capitalization rate of 5.4 percent.
SAN ANTONIO — Mission Capital Advisors, a financial intermediary with five offices across the country, has arranged the sale of a 484,369-square-foot industrial portfolio in San Antonio. Four properties located on the northwest side of the city comprise the portfolio, which was 88 percent occupied at the time of sale. Will Sledge and Kyle Kaminski of Mission Capital represented the seller, a CMBS special servicer, in the transaction. Alex Draganiuk and Lexington Henn of Mission Capital arranged acquisition financing on behalf of the buyer, Los Angeles-based Entrada Partners.
PASADENA, TEXAS — New York City-based Ready Capital (NYC: RS) has provided a $38.9 million loan for the acquisition, renovation and stabilization of a 504-unit apartment community located in the eastern Houston suburb of Pasadena. The nonrecourse loan, some proceeds of which will be used to implement a capital improvement program, carried a 36-month term with two extension options and a floating interest rate. The borrower was not disclosed.
GRAND PRAIRIE, TEXAS — Dallas-based Main Event will open a 48,000-square-foot entertainment venue at 3102 S. Highway 161 in Grand Prairie, located roughly midway between Dallas and Fort Worth. The venue, which will be the company’s seventh in the metroplex, will feature 22 bowling lanes, laser tag, a ropes course and zip line and more than 130 interactive and virtual video games. The opening is slated for this winter.
MIAMI, OKLA. — CBRE has negotiated the sale of Windridge Nursing Center, a 34,049-square-foot healthcare property located at 2530 N. Elm St. in Miami, near the Kansas border. The property was built in 1998 and is licensed for 100 beds. Daniel Morris of CBRE represented the seller, a private investor based on the West Coast, in the transaction. The buyer was a regional operator with existing facilities in the area.
SAN MARCOS, TEXAS — Two Austin-based firms, Kogut Commercial Real Estate and Mittman Real Estate have completed construction of Hunter Professional Plaza, a 25,240-square-foot medical office building located at 151 Stagecoach Trail in the Central Texas city of San Marcos. The property is currently 41 percent leased. Transwestern Commercial Services (TCS) is leasing the building.
OLIVE BRANCH, MISS. — Sealy & Co. has acquired a 1 million-square-foot distribution facility located at 7755 Polk Lane in Olive Branch, about 27 miles south of downtown Memphis and about 18 miles south of Memphis International Airport. The building is leased to Williams-Sonoma Inc. and is equipped with 66 loading docks, 36-foot clear heights and surface parking. Jason Gandy and Scott Sealy Jr. represented Sealy & Co. internally. Hank Martin of NAI Saig represented the seller, Tratt Properties, in the transaction. The sales price was not disclosed.
TAMPA, FLA. — Berkadia has arranged the $43.2 million sale of Allister Place, a 384-unit multifamily community in Tampa. Located at 4939 E. Busch Blvd., Allister Place was built in 1986 and offers amenities such as a clubhouse, business center, storage space, 24-hour fitness center, swimming pool and poolside cabanas. Cole Whitaker and Jason Stanton of Berkadia represented the seller, Aspen Square, in the transaction. The buyer is a joint venture between GMF Capital and The Michaelson Group. Berkadia’s South Florida team provided a 10-year, Freddie Mac acquisition loan to the buyer. The $34.6 million loan features a fixed interest rate and five years of interest-only payments followed by a 30-year amortization schedule.
CHARLOTTESVILLE, VA. — CoConstruct LLC, a construction software provider, has leased 40,000 square feet of office space at 3Twenty3 in downtown Charlottesville. CoConstruct will consolidate its two locations to form one headquarters. Insite Properties is developing 3Twenty3, a five-story, 120,000-square-foot office building located at 323 2nd St. SE that will be situated atop a four-story parking structure. Amenities will include a pedestrian plaza and walkway, common lobby gathering space, rooftop event and conference space, catering kitchen, patio, electric car charging stations and bike racks. A timeline for completion was not disclosed. John Pritzlaff of Cushman & Wakefield | Thalhimer represented the landlord in the lease transaction. Robin Amato of REIII Commercial Properties represented the tenant.