Property Type

Cushman & Wakefield Facilitates Sale of 324,540 SF Industrial Building in New Jersey

by Amy Works February 21, 2017

MONROE, N.J. — Cushman & Wakefield has arranged the sale of an industrial building located at 26 Englehard Drive in Monroe. A Boston-based advisor acquired the 324,540-square-foot property from Principal Real Estate Investors for an undisclosed price. The property features 45- by 50-foot column spacing, 170-foot truck courts, 48 loading positions and rail line service by Conrail. Gary Gabriel, David Bernhaut, Andrew Merin, Kyle Schmidt, Brian Whitmer, Jules Nissim and Jason Goldman of Cushman & Wakefield represented the seller in the deal.

February 21, 2017

Hospitality Massachusetts Northeast

HFF Negotiates Sale of 351-Room Courtyard Boston Logan Airport

by Amy Works February 21, 2017

BOSTON — Affiliates of Rockwood Capital have completed the disposition of Courtyard Boston Logan Airport, located at 225 William F. McClellan Highway in Boston. The 12-story hotel features 351 guest rooms, 2,257 square feet of function space, an indoor swimming pool, fitness room, business center, complimentary shuttle service and Brinkley’s Restaurant & Lounge. Daniel Peek, Denny Meikleham, KC Patel and Alan Suzuki of HFF represented the seller in the transaction. The name of the buyer and acquisition price were not released.

February 21, 2017

Multifamily New York Northeast

Ariel Property Advisors Arranges Sales of Two Multifamily Properties in Manhattan Totaling $11.6M

by Amy Works February 21, 2017

NEW YORK CITY — Ariel Property Advisors has brokered two transactions of multifamily properties in Northern Manhattan. In the first deal, an undisclosed buyer acquired a 15,300-square-foot property, located at 304 E. 147th St. in Hamilton Heights, for $7.3 million. The building features 33 residential units in a mix of studio, one- and two-bedroom layouts. Victor Sozio, Shimon Shkury, Michael Tortorici, Matthew Gillis and Joshua Kwilecki of Ariel Properties represented the buyer and undisclosed seller. In the second transaction, an undisclosed buyer acquired an 11,105-square-foot apartment building located at 422 Saint Nicholas Ave. in Central Harlem for $4.3 million. The building features two two-bedroom units and eight three-bedroom units, as well as 9,178 square feet of air rights for future development. Victor Sozio, Joshua Kwilecki and Matthew Gillis represented the buyer and undisclosed seller in the deal.

February 21, 2017

Connecticut Multifamily Northeast

Chozick Realty Brokers $7M Sale of Apartment Complex in Connecticut

by Amy Works February 21, 2017

MIDDLETOWN, CONN. — Chozick Realty has arranged the sale of Wilcox Apartments, located at 305 S. Main St. in Middletown. Up Realty acquired the property from Hamilton Point Wilcox Investors for $7 million, or $86,420 per unit. The 81-unit property features 11 different floor plans, including flats, lofts and townhome-style apartments. Rick Chozick and Steve Pappas of Chozick Realty represented the seller and procured the buyer in the transaction.

February 21, 2017

Connecticut Northeast Office Retail

Houlihan-Parnes Realtors Secures $3.2M Loan for Retail, Office Building in Connecticut

by Amy Works February 21, 2017

GREENWICH, CONN. — Houlihan-Parnes Realtors has arranged a $3.2 million first mortgage for a retail and office building located at 79 E. Putnam Ave. in Greenwich. Christie Houlihan of Houhlian-Parnes secured the financing for the undisclosed borrower. The non-recourse loan has a fixed interest rate for seven years. The 20,000-square-foot building was fully leased at the time of financing.

February 21, 2017

Multifamily North Carolina Southeast

Proffitt Dixon to Develop Multifamily Community in Uptown Charlotte

by John Nelson February 21, 2017

CHARLOTTE, N.C. — Proffitt Dixon Partners plans to develop Montage, a six-story, 302-unit multifamily development in Uptown Charlotte. An affiliate of Creek Lane Capital LLC, a Chicago-based real estate investment firm, is providing joint venture equity for the development, and Pacific Life Insurance Co. is providing a $46.5 million construction loan. Travis Anderson and Cory Fowler led HFF’s debt and equity placement team in both transactions on behalf of Proffitt Dixon. Situated at the corner of East Stonewall and South Davidson streets, Montage will feature one-, two- and three-bedroom units averaging 830 square feet with 10-foot ceilings, master closets, computer niche/workstations, stainless steel appliances, wood plank flooring and balconies and patios with views of downtown Charlotte. Amenities will include 11,000 square feet of ground-floor retail space, an elevated saltwater swimming pool, resident lounge, clubroom, fenced dog park, courtyards, grilling stations, bicycle repair and a fitness center.

February 21, 2017

Seniors Housing Southeast Tennessee

Inspirit, Care Investment Trust Acquire Seniors Housing Community in Memphis

by John Nelson February 21, 2017

MEMPHIS, TENN. — A joint venture between Inspirit Senior Living and Care Investment Trust has acquired Foxbridge, a 120-bed independent living, assisted living and memory care community in Memphis. The seniors housing property is located on eight acres. The seller was the property’s former operator, United Methodist Homes. The sales price was undisclosed. The new owners plan to implement improvements to the back-office systems, buildings, furnishings, fixtures and grounds. Inspirit will operate the community and expand the name to “Foxbridge, an Inspirit Senior Living Community.” This is Inspirit’s second community, following Hilltop in Winchester, Va., which was also acquired in a joint venture with Care Investment Trust.

February 21, 2017

Georgia Loans Multifamily Southeast

CiTYR Group Buys Apartment Community in Metro Atlanta Using $19.5M Bridge Loan

by John Nelson February 21, 2017

TUCKER, GA. — CiTYR Group has purchased LaVista Crossing, a 240-unit apartment community in the Atlanta suburb of Tucker. The Israeli-based property investor financed its acquisition with a $19.5 million bridge loan provided by KeyBank Real Estate Capital. Michael Muller of Eastern Union Funding arranged the loan on behalf of CiTYR, which plans to upgrade the property’s amenities. CiTYR has selected Atlanta-based CFLane LLC, a subsidiary of Cocke Finkelstein Inc., to oversee management of LaVista Crossing.

February 21, 2017

Georgia Office Southeast

NAI Brannen Goddard Brokers $9.4M Sale of Office Property in Metro Atlanta

by John Nelson February 21, 2017

JOHNS CREEK, GA. — NAI Brannen Goddard has brokered the $9.4 million sale of a 75,273-square-foot office building situated within the 1,900-acre Technology Park Johns Creek development. The multi-tenant, Class A office building is located at 11360 Lakefield Drive in Johns Creek, a suburb of Atlanta in Fulton County. David Beak of NAI Brannen Goddard represented the seller, Block Income Fund, in the transaction. The buyer was City of Johns Creek, which intends to use the property as its City Hall.

February 21, 2017

Florida Loans Retail Southeast

NorthMarq Arranges $4M Refinancing of Grocery-Anchored Retail Property in Metro Tampa

by John Nelson February 21, 2017

BRANDON, FLA. — NorthMarq Capital has arranged the $4 million refinancing of Lithia Square, a 69,007-square-foot, grocery-anchored retail property located at 901-927 Lithia Pinecrest Road in Brandon, about 12 miles east of Tampa. Walmart Neighborhood Market is on a ground lease at the property, and Walmart owns the building. Robert Hernandez of NorthMarq Capital’s Tampa office arranged the 10-year loan with a 30-year amortization schedule through a national CMBS lender.

February 21, 2017

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