NEW YORK CITY — Cignature Realty Associates has brokered the sale of a six-story apartment building located at 964 Amsterdam Ave. in Manhattan Valley. TriArch Real Estate Group acquired the building from The Orbach Group for $12.1 million. Built in 1900, the 21,072-square-foot property features 22 residential apartments and four retail stores. Peter Vanderpool of Cignature Realty represented the buyer, while Elan Teichman, also of Cignature, represented the seller in the deal.
HINGHAM, MASS. — The Town of Hingham, a suburb of Boston, has approved the construction of The Residence at Penniman Hill, a 90-unit independent living, assisted living and memory care community. LCB Senior Living LLC is developing the 89,000-square-foot building. All programming was developed in collaboration with the Harvard Medical School, McLean Hospital and Brigham & Women’s Hospital. LCB Senior Living is a Massachusetts-based seniors housing operator and developer with communities throughout New England and the Mid-Atlantic states.
CLEVELAND — KeyBank Real Estate Capital has provided a $237.1 million bridge loan for the acquisition of a 12-property office portfolio located throughout eight states. The Class A and B properties are located in Arizona, Illinois, Georgia, Florida, Maryland, Massachusetts, Michigan and Tennessee. The portfolio, which is 71 percent leased, includes nine multi-tenant buildings and three single-tenant buildings totaling more than 2.2 million square feet. Alex Buecking, Devin Jolley and Josh Berde of Key arranged the loan on behalf of the borrower, Bridge Investment Group Partners.
IOWA CITY, IOWA — Berkadia has arranged a $46.5 million loan for the refinancing of The Quarters at Iowa City, an 892-bed student housing property. The development is located at 2401 Highway 6 East near the University of Iowa. The community features studio, two- and three-bedroom floor plans and amenities such as a resort-style pool, outdoor sand volleyball court, fitness center, game lounge, outdoor grill area and private shuttle to campus. Peter Benedetto and Aaron Moll of Berkadia arranged the two-year loan, which features a 75 percent loan-to-value ratio. Voya Investment Management provided the loan for the borrower, The Tailwind Group.
TROY, MICH. — Paslin has signed a 140,000-square-foot industrial lease in Troy. A full-service engineering and manufacturing company that builds welding automation systems for the auto industry, Paslin will occupy the entire facility, which is located at 500 W. Long Lake Road. The company occupies other properties in Warren and Shelby Township, Mich. Jason Capitani of L. Mason Capitani represented Paslin in the lease transaction. The landlord was not disclosed.
PEWAUKEE, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 16,440-square-foot industrial building in Pewaukee, about 20 miles west of Milwaukee. The sales price was not disclosed. The property is located at 1275 Hickory St. Nick Keys of the Dickman Co. represented the seller, Evergreen Business Development Wisconsin LLC. Bast Mequon LLC purchased the property.
FOX LAKE, ILL. — Adelphia Properties has arranged the sale of a 4,800-square-foot mixed-use property in Fox Lake, about 56 miles north of Chicago. The sales price was not disclosed. The property, located at 1 Nippersink Blvd., was 100 percent leased at the time of sale. In addition to three apartment units on the second floor, the ground floor is home to one tenant, Lucky Bernies Gaming. Simeon Spirrison and George Spirrison of Adelphia represented both the buyer, a local investor, and the undisclosed seller.
DURHAM, N.C. — HFF has arranged the $55.6 million sale of Palladian Corporate Center, a two-building, 201,008-square-foot office complex in Durham. Ryan Clutter, Scot Humphrey and Chris Lingerfelt of HFF arranged the transaction on behalf of the seller, an institutional owner advised by Clarion Partners LLC. An affiliate of Innovatus acquired the asset. In addition, Brent Bowman of HFF arranged acquisition financing for the asset through Citizens Bank on behalf of the new owner. Palladian Corporate Center is located at 200 and 240 Leigh Farm Road, adjacent to Interstate 40, along the Highway 54 corridor. Constructed in 2005 and 2007, the four-story buildings feature landscaped exteriors, brick and glass façades, weekly scheduled food trucks and adjacent walking trails. Palladian Corporate Center is home to tenants including Northwestern Mutual, Eco-Site LLC and AICPA’s corporate headquarters. At the time of sale, the property was 98.4 percent leased.
WASHINGTON, D.C. — PCCP LLC has provided a $44.9 million loan for the acquisition of Embassy Suites at Chevy Chase Pavilion, a 198-room hotel in Washington D.C.’s Friendship Heights neighborhood. Arden Group acquired the asset from Clarion Partners. The hotel is located at 4300 Military Road N.W., on the border of northwest Washington, D.C. and Chevy Chase, Md., and within Chevy Chase Pavilion, a mixed-use complex. In addition to the hotel, the development includes a 205,000-square-foot office building and 155,000 square feet of retail. The hotel features an indoor swimming pool, health club and four meeting rooms. In addition, the hotel has access to Chevy Chase Pavilion’s 675-space underground parking garage and direct underground access to the Red Line Metro Station.
DORAL, FLA. — Cushman & Wakefield has arranged the $22.8 million sale of Transal Park, a six-building flex industrial campus located at 8200-8290 N.W. 27th St. in Doral. Mike Davis, Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Michael Lerner and Rick Brugge of Cushman & Wakefield, in conjunction with Cushman & Wakefield leasing partners Wayne Ramoski and Gian Rodriguez, arranged the transaction on behalf of the undisclosed seller. SVF Acquisitions LLC acquired the property. Transal Park comprises six one-story buildings totaling 134,175 square feet. The buildings feature flexible bays with a combination of direct-access front office space and rear warehouse with grade-level entries to truck courts. Other features include tenant signage, on-site security, a restaurant and a parking ratio of 3.6 spaces per 1,000 rentable square feet. At the time of sale, Transal Park was 88 percent leased to tenants including United States Medical, South Florida Health Management, Office Bargain Center, Encore Optical, Miami Vet Center and Doral Digital Reprographics.
