Property Type

Huff, Niehaus & Associates Arranges $4.4M Sale of Hampton Inn in Horse Cave, Kentucky

by Camren Skelton October 2, 2017

HORSE CAVE, KY. — Huff, Niehaus & Associates, a member of Hotel Brokers International, has arranged the $4.4 million sale of a Hampton Inn in Horse Cave. The Louisville-based company arranged the transaction on behalf of the seller, Dhami, Sohal & Sehgal Properties LLC. The 101-room hotel was sold in conjunction with a Ten-X auction to an undisclosed buyer. The new owner will rebrand the property and operate it as a newly flagged Holiday Inn Express, after undergoing a “Formula Blue” renovation. The Holiday Inn Express design prototype was launched in 2014 as a standard for Holiday Inn Express hotels. The prototype conversion focuses on implementing open, linear common spaces, brightly colored accent pieces and smart, efficient furniture and other essentials.

October 2, 2017

Massachusetts Multifamily Northeast

WinnCompanies Completes $24.2M Adaptive Reuse of Historic Mill into Multifamily Housing

by Amy Works October 2, 2017

FITCHBURG, MASS. — WinnCompanies has completed a $24.5 million transformation of a 112-year-old yarn mill into a mixed-income multifamily property in Fitchburg. Situated on 7.4 acres along the Nashua River, the three-story, 190,000-square-foot Yarn Works Apartments features 96 residential rental units. The property features a current tenancy mix of 30 percent market renters, 30 percent middle income/workforce earners and 40 percent for residents earning 60 percent or below the area median income. The Architectural Team served as architect, while Colantonia Inc. served as general contractor. WinnResidential manages the property.

October 2, 2017

Loans New Jersey Northeast Retail

CBRE DSF Arranges $14.1M in Acquisition Financing for 88,265 SF Retail Center in New Jersey

by Amy Works October 2, 2017

MOUNT LAUREL, N.J. — CBRE Debt & Structured Finance (CBRE DSF) has arranged $14.1 million in financing for Towne Square Shopping Center in Mount Laurel. The borrower, The Westover Cos., used the loan proceeds to purchase the 88,265-square-foot retail center located at 872 Union Mill Road. At the time of closing, the shopping center was 94 percent occupied. ShopRite Supermarket anchors the center, which was built in 1996. Thomas Gorman and Steven Doherty of CBRE DSF represented the borrower in the transaction. Additionally, Brad Nathanson, Adam Rosenzweig and John Colussi of CBRE arranged the sale of property. The team represented the seller, The Hampshire Cos., in the deal.

October 2, 2017

Massachusetts Multifamily Northeast

Akelius US Acquires 58-Unit Apartment Building in Boston’s Back Bay for $33.5M

by Amy Works October 2, 2017

BOSTON — Akelius US has purchased a multifamily building located at 12-14 Commonwealth Ave. in the Back Bay neighborhood of Boston. An undisclosed seller sold the asset for $33.5 million. Built in 1928, the property features 58 apartments.

October 2, 2017

Industrial Loans Massachusetts Northeast

EagleBridge Capital Arranges $9M in Financing for Industrial Property in Boston

by Amy Works October 2, 2017

BOSTON — EagleBridge Capital has arranged $9 million in permanent mortgage financing for an industrial facility located at 173 Boston St. in Boston. Situated on 3.8 acres, the 57,600-square-foot warehouse and service facility features 20,000 square feet of office space, multiple drive-in doors and a carport. The facility is net leased to Verizon. Ted Sidel and Brian Sheehan of EagleBridge secured the loan for the undisclosed borrower through a financial institution.

October 2, 2017

New Jersey Northeast Office

Rhodium Capital Advisors Buys Office Building in Somerset, New Jersey, for $5.8M

by Amy Works October 2, 2017

SOMERSET, N.J. — Rhodium Capital Advisors has acquired an office building located at 100 Franklin Square Drive in Somerset for $5.8 million. The 107,000-square-foot office building is occupied by a mix of healthcare, education, insurance, technology and legal firms. Rhodium plans to spend $2.4 million for tenant improvements and leasing commissions for existing and new tenants, as well as $350,000 on building-wide capital improvements. Slava Vaynberg of Cushman & Wakefield represented Rhodium in the acquisition. Sol Kinraich and Ryan Goldstein of MLK Real Estate Capital arranged the debt financing, while Jeffrey Zwick & Associates acted as Rhodium’s legal counsel.

October 2, 2017

Arizona Retail Western

Sand Capital Subsidiary Buys 47-Property CVS Portfolio for $275M

by Nellie Day October 2, 2017

SCOTTSDALE, ARIZ.— A subsidiary of Sand Capital has acquired a portfolio of 47 CVS/pharmacy stores located throughout the country for $275 million. The stores include locations in Sedona, Ariz.; Seattle; Wheaton, Ill.; Southern California; Dallas; Houston; and Tuscaloosa, Ala. Some of the properties will be offered for sale. Sand Capital is a privately held real estate investment company controlled by the principals of Sandor Development Co., one of the largest privately held shopping center owners in the country.

October 2, 2017

California Industrial Western

PCCP, LDK Ventures Acquire 843,248 SF Industrial Facility in Vacaville

by Nellie Day October 2, 2017

VACAVILLE, CALIF. — A joint venture between PCCP and LDK Ventures has purchased a vacant 843,248-square-foot cross‐docked industrial building in Vacaville for an undisclosed sum. The asset is situated on 75 acres at 700 Crocker Drive in the Bay Area’s northern most city. The facility was built in the late 1970s. Features include 30-foot clear heights, a secured gated site with guard shack, excess yard area, a three-bay truck maintenance facility and a 30,000-square-foot cross-dock sorting facility with 32 dock-high doors. Brooks Pedder, John McManus and Tony Binswanger of Cushman & Wakefield represented both the buyer and seller in this transaction.

October 2, 2017

Nevada Office Western

Brookhollow Group, PCCP Purchase 383,000 SF Office Park in Las Vegas

by Nellie Day October 2, 2017

LAS VEGAS — A joint venture between the Brookhollow Group and PCCP has purchased Centra Point, a 383,000-square-foot office park in Las Vegas, for an undisclosed sum. The park is located at 8363 W. Sunset Road on the southern beltway curve. The asset will undergo renovations, which will include upgraded lobbies and restrooms, landscape renovation, exterior building painting, exterior common area upgrades, spec suites and a new on-site leasing and management office.

October 2, 2017

Hawaii Retail Western

Faris Lee Arranges $21.8M Sale of Retail Center in Hawaii

by Nellie Day October 2, 2017

KAILUA-KONA, HAWAII — Faris Lee Investments has arranged the $21.8 million sale of Coconut Grove Marketplace, a 49,513-square-foot retail center in Kailua-Kona. Donald MacLellan and Rick Chichester of Faris Lee represented the seller, Hudson America LP, and the buyer, J.H. Real Estate Partners. The center features an open layout with ocean views and an oceanfront volleyball court. Coconut Grove is home to tenants including ABC Stores, Humpy’s Alehouse, Lava Java, Outback Steakhouse, Kona Gear and Foster’s Kitchen.

October 2, 2017

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