NEW YORK CITY — Rockwood Capital has received a total of $260 million in financing for 2 Grand Central Tower, the company’s office building located at 140 E. 45th St. in Manhattan’s Midtown East section. Approximately $60 million is new capital and $200 million will be used to refinance existing debt at the property. Built in 1981, the 44-story property features 650,000 square feet of office space. Rockwood Capital, BBR Partners, Cortec Group, Banorte Securities and the General Services Administration are tenants at the building. Diana Brummer and Elizabeth Akerman of Stroock represented Rockwood in the financing.
NEW YORK CITY — TerraCRG has brokered the sale of an apartment building located at 267 Flatbush Ave. in Brooklyn’s Prospect Heights neighborhood. An undisclosed buyer acquired the property for $9.7 million, or $919 per square foot. The four-story building features nine apartment units and one commercial unit. Morgan’s BBQ occupies the commercial space. Ofer Cohen, Dan Marks, Adam Hess and Daniel Lebor of TerraCRG brokered the transaction.
NEW YORK CITY — Union Investment has acquired a retail property located at 412 W. 14th St. in Manhattan’s Meatpacking District. Premier Equities sold the three-story property for an undisclosed price. The 17,000-square-foot property is Toyota’s new experiential retail concept, “Intersect by Lexus.” The location will give customers the opportunity to experience the Lexus brand in a high-end environment featuring a showroom, coffee shop, full-service restaurant and gallery space. The acquisition was made on behalf of Unilmmo: Global, an open-ended retail estate fund.
PATCHOGUE, N.Y. — Spellman Brady & Co. has completed interior design work for Village Walk, a five-story assisted living community in the Long Island village of Patchogue. Carlisle Senior Living Communities, an affiliate of The D&F Development Group, is developing the 87,700-square-foot community. Spellman Brady & Co. is a St. Louis–based interior design firm specializing in senior living, healthcare and higher education.
DALLAS — Hill & Wilkinson has completed the renovation of 1217 Main Street, a 28,000-square-foot mixed-use building in downtown Dallas. Built in 1958, the property features four floors of office space and 2,500 square feet of ground-floor restaurant space. The renovation included upgrades to the building’s structural support system and façade. 5G Studio Collaborative served as architect on the project and Armstrong-Douglass served as structural engineer.
AUSTIN, TEXAS — Texas Realty Capital (TRC) has arranged a $14 million loan for the acquisition of Park Plaza, an office property with condominium and retail components in downtown Austin. Sun Life Assurance Co. of Canada provided the loan, which features a 10-year term and a fixed interest rate. The borrower was not disclosed.
PLANO, TEXAS — Metropolitan Capital Advisors (MCA) has arranged an $11.7 million loan for the acquisition of a 101-room Staybridge Suites hotel in Plano. Sunny Sajnani of MCA arranged the loan, which features a 75 percent loan-to-cost (LTC) ratio, on behalf of hospitality investment and development firm Ascend Growth Partners. Alliance Bank originated the loan, other terms of which were not disclosed.
HOUSTON — Moody Rambin has negotiated an 18,500-square-foot industrial lease at 10810 Train Court in northwest Houston. Josh Marcell and Ryan Fassett of Moody Rambin represented the tenant, Mayekawa USA Inc., a Tennessee-based manufacturer of refrigerator compressors, in the lease negotiations. The landlord, Clay-CMBS #2 LP, was represented internally by Charlie Crist.
CHICAGO — Golub & Co. and USAA Real Estate have formed a joint venture to acquire Century Tower in the heart of Chicago’s Loop for an undisclosed price. The 292-unit luxury condominium tower is located at 182 W. Lake St. Built in 1930, the building was converted from office to multifamily units in 2001, and then condominiums in 2006. The buyer plans to renovate the residential units and convert them back to rental apartments. Upgrades will also be made to the amenity spaces, including a fitness center, co-working space, game and lounge room and roof deck. Collin McKenna of Golub led transaction negotiations on behalf of the joint venture. The seller was not disclosed.
CHAMPAIGN, ILL. — Marcus & Millichap has brokered the $29.2 million sale of a 400-bed student housing community in Champaign. The property is located at 512 S. Third St., just west of the University of Illinois at Urbana-Champaign. The four-story building features 140 units, in-unit washers and dryers and balconies. Built in 2001, the property includes three shared courtyards and underground parking for 246 vehicles. The community is currently 95 percent preleased for the 2018-2019 school year. Scott Harris and Bryan Kunze of Marcus & Millichap represented the seller, a local private developer. The team also procured the buyer, a Denver-based limited liability company.