LOS ANGELES — Charles Dunn Co. has arranged the sale of a retail and industrial building located at 437-441 S. Los Angeles St. in downtown Los Angeles. JVS Real Estate Investment purchased the property from 441 Los Angeles Street LLC for $3.7 million. The buyer plans to renovate the vacant, three-story, 15,538-square-foot building for its retail and wholesale business. Chris Runyen of Charles Dunn Co. represented the seller, while interPres Realty represented the buyer in the deal.
VAN NUYS, CALIF. — Marcus & Millichap has brokered the sale of a retail property located at 6650 Van Nuys Blvd. in Van Nuys. An individual/personal trust sold the property to a private investor for $1.4 million. The property features 6,253 square feet of retail space. Brandon Michaels and Justin Rappel of Marcus & Millichap represented both the seller and buyer in the deal.
NEW YORK CITY — Zar Group has received $210 million in financing to refinance an office property located at 1450 Broadway in Times Square. Tal Bar-Or and Richard Sutton of Meridian Capital Group secured the five-year balance sheet loan, which features full-term interest-only payments. The 42-story property features 415,000 square feet of office and retail space.
NEW YORK CITY — Natixis has provided an $86.2 million floating-rate construction loan to YYY 62nd Street LLC, a joint venture between Joy Construction and Madd Equities. The borrowers will use the loan to pay off existing debt and provide capital to complete a 110,727-square-foot, Class A office building at 330 E. 62nd St. in Manhattan’s Upper East Side. The seven-story, build-to-suit office property is 100 percent pre-leased to Memorial Sloan Kettering Cancer Center for an initial term of 30 years. Memorial Sloan Kettering plans to use the building for administrative offices. Kathy Anderson and Brad Domenico of Progress Capital arranged the financing.
FRANKLIN TOWNSHIP, N.J. — Cushman & Wakefield has arranged the sale of a two-building industrial asset located at 400 and 500 Apgar Drive in Franklin Township. Greek Development purchased the properties from High Street Realty for $15 million. At the time of sale, the two buildings, which total 170,500 square feet, were 91 percent occupied by 11 tenants. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt and Andrew MacDonald of Cushman & Wakefield represented the seller and procured the buyer in the deal.
LOS ANGELES — Kreation has signed a lease to open a organic pressed juice cafe at 11754-11756 San Vicente Blvd. in the Brentwood neighborhood of Los Angeles. The juicer leased a 2,273-square-foot space from GPI Cos. Currently, Kreation has 12 juiceries and three cafes. Hilton & Hyland represented the tenant, while Houman Mahboubi, Greg Briest and Devin Klein of JLL represented the landlord in the transaction.
PROVIDENCE, R.I. — EagleBridge Capital has arranged $12.6 million in financing for 95 Lofts, a 59-unit apartment building located at 95 Chestnut St. in downtown Providence. Brian Sheehan and Ted Sidel of EagleBridge secured the loan, provided by a Massachusetts financial institution, for the undisclosed borrower. The property is a six-story, 58,500-square-foot residential building featuring 33 one-bedroom units, 17 two-bedroom units and nine studio units, as well as 2,500 square feet of ground-floor commercial space.
NEW YORK CITY — Stellar Management has purchased a residential building located at 3505 Broadway in Manhattan’s Hamilton Heights. The estate of Harriet Okun sold the property for an undisclosed price. Built in 1907, the six-story property features 42 apartment units and five occupied retail storefronts. Stellar has a capital improvement program planned for the property, including an extensive lobby and hallway renovation. Peter Vanderpool and Lazer Sternhell of Signature Realty brokered the transaction.
EDINA, MINN. — High Street Residential, a subsidiary of Trammell Crow Co., has received $34.2 million in financing for the construction of a 165-unit apartment building in Edina. The age-restricted property for persons 55 or older will feature a mix of one- and two-bedroom units with an average unit size of 900 square feet. Construction will also include a 212-space parking garage. The site was formerly home to buildings and parking space used by Edina Public Schools. Completion is slated for spring 2019. Associated Bank provided $19.2 million of the loan with $15 million syndicated to Great Southern Bank. Ted Notz of Associated Bank managed the loan and closing.
CHICAGO — Continental Partners has arranged a $7 million bridge loan for the buyer of a 115,000-square-foot Motor Row industrial building in Chicago’s South Loop. The building’s new owner, a private investor, plans to convert the asset into a Class A mixed-use property with retail, entertainment and office space. The former auto showroom, located at 2222 S. Michigan Ave., is currently vacant. The lender was not disclosed.