NEW YORK CITY — Locally based brokerage and advisory firm GFI Realty Services has arranged a $40 million acquisition loan for 1501 Voorhies Avenue, a multifamily building in Brooklyn’s Sheepshead Bay area. The loan is collateralized by the rental portion of the building, spanning floors two through 19, as well as a 105-space parking garage. Floors 20 through 28 house condos. Daniel Lerer of GFI Realty arranged the loan through OceanFirst Bank. The undisclosed borrower has rebranded the building as Aqualina New York.
BOSTON — WilmerHale has renewed its 201,018-square-foot office lease in downtown Boston. The international law firm will continue to occupy floors 25 through 32 at 60 State Street, a 600,000-square-foot building in which the company has been a tenant since 1977. Roy Hirshland, Thomas Fulcher, Arthur Greenberg, Ron Perry and Matthew Perry of Savills represented WilmerHale in the lease negotiations. Dan Cavanaugh, Ryan Enright and Patrick Nugen of JLL represented the landlord, Starwood REIT.
DOVER, N.J. — A joint venture between local investment firm Legacy Real Estate Developers, Saddleback Real Estate Developers and Commerce Park Investors has acquired a 126,108-square-foot office and industrial building in Dover, about 40 miles west of New York City. The building formerly housed the U.S. headquarters of Japanese electronics giant Casio. Elli Klapper of CBRE brokered the deal. The seller and sales price were not disclosed. The new ownership plans to implement a capital improvement program.
HACIENDA HEIGHTS, CALIF. — Eagle Partners has acquired Hills at Hacienda Heights, an apartment property located in Hacienda Heights, for $107 million, or $305,714 per unit. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller and procured the buyer in the deal. Built in 1970 on more than 10 acres and renovated in 2015, the gated Hills at Hacienda Heights features 350 apartments, three swimming pools, a spa, fitness center, coworking lounge and covered parking. Apartments feature 8-foot ceilings, washers/dryers, stainless steel appliances, and quartz or granite countertops. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson of IPA Capital Markets arranged $71 million in acquisition financing for the buyer.
SAN DIEGO — Northmarq has arranged a $66.1 million construction loan on behalf of Ambient Communities for the development of Palm & Hollister Apartments in San Diego. Located at 555 Hollister St., the proposed community will feature 198 apartments. Aaron Beck, Bryce Quezada, Conor Freeman and Wyatt Campbell of Northmarq arranged the financing through Genesis Capital. The loan includes a three-year initial term and the option to roll into a mini perm upon completion of construction.
LAKE OSWEGO, ORE. — SRS Real Estate Partners has arranged the $6.6 million ground lease sale of a restaurant property located at 14801 Kruse Oaks Drive in Lake Oswego. Chick-fil-A occupies the 8,400-square-foot asset, which was renovated in 2025, under a brand new, 15-year corporate-guaranteed lease. Calvin Short and Patrick Luther of SRS Capital Markets represented the seller, a San Francisco-based family office, while Kevin Held of SRS Capital Markets represented the buyer, an Idaho-based private investor, in the 1031 exchange deal.
GRAND JUNCTION, COLO. — Malman Real Estate has arranged the acquisition of 1048 Independent Avenue, a 65,568-square-foot flex industrial property in Grand Junction. YuanYuan Li, Fengmei Zou and Independent Estate LLC sold the asset to 1048 Independent LLC for $5.5 million. Michael Kraus and Jake Malman of Malman Real Estate represented the buyer in the off-market transaction.
CHICAGO — USG Corp. has renewed its 165,000-square-foot office headquarters lease at 550 West Adams in downtown Chicago. The tenant manufactures high-quality building materials and has more than 50 manufacturing facilities across North America. Formed in Chicago in 1902, USG is the largest producer of wallboard in the U.S. and the largest manufacturer of gypsum products overall in North America. Chris Wood and David Stefancic of Cushman & Wakefield represented USG, while Mark Bâby and Katie Hull of Stream Realty Partners represented ownership, Manova Partners. Cushman & Wakefield negotiated USG’s original global headquarters lease in 2004 that coincided with the development of 550 West Adams. Cushman & Wakefield will also provide project management services to USG as part of a renovation of the space. Built in 2006 and located in the heart of the West Loop, 550 West Adams rises 18 stories and is LEED Gold certified. Last year, Manova completed a major renovation of the second-floor amenity space, adding a 50-seat conference center, upgrading the tenant lounge and installing a golf simulator and fitness center with showers and locker facilities. Additional amenities include a tenant concierge, a Chase Bank branch and ATM, lobby-level café, bike storage and heated parking …
WHITEHALL, OHIO — Merchants Capital has secured $152.3 million in total financing for The Aries Lofts, a 315-unit affordable housing community in Whitehall developed by LDG Development LLC. Merchants Capital secured a $42.7 million Freddie Mac Forward TEL permanent loan, a $60 million tax-exempt construction loan and an $8 million equity bridge loan provided by Merchants Bank. As the syndicator, Merchants Capital provided $41.6 million in 4 percent low-income housing tax credit equity. LDG Development received Brownfield Remediation Funds from the Ohio Department of Development for environmental remediation of the project site, formerly the Wirthman Brothers Junkyard. The City of Whitehall awarded a 15-year payment in lieu of taxes agreement, granting a Community Reinvestment Area tax exemption. The Franklin County Economic Development & Planning Department also awarded a grant. Additional project financing included a bridge loan from The Affordable Housing Trust for Columbus and Franklin County as well as a partnership through a capital lease with the Columbus-Franklin County Finance Authority. Upon completion, The Aries Lofts will set aside 66 units for families earning 50 percent of the area median income (AMI), 183 units at 60 percent AMI and 66 units at 70 percent AMI. The project will feature one-, …
LEE’S SUMMIT, MO. — Block & Co. Inc. Realtors has purchased Summit Fair, a lifestyle center in the Kansas City suburb of Lee’s Summit. Totaling roughly 510,000 square feet, the property is approximately 90 percent leased. Tenants include Dick’s Sporting Goods, H&M, Lululemon, Made in KC Marketplace, Craft Putt, Orangetheory, Pure Barre, Chick-fil-A, DSW, McAlister’s Deli, JC Penney and Missouri Furniture Mart. Sephora and LoveSac are slated to open soon at the center. Block & Co. intends to introduce community-focused events and expand the tenant mix at Summit Fair. The company now leases and manages 10 multi-tenant centers in Lee’s Summit. Zachary Albrecht and David Block of Block & Co. represented the buyers, a group of local investors including Block and Doug Compton of Lawrence, Kan. Ben Wineman and Joe Girardi of Mid-America Real Estate Corp. represented the seller, Arizona-based RED Development. With this sale, RED has exited the Kansas City market.