YONKERS, N.Y. — Greystone has provided a $24.9 million HUD-insured permanent loan to refinance Adira at Riverside Rehabilitation & Nursing, a skilled nursing facility in Yonkers. Fred Levine and Shia Fishman of Greystone arranged the financing for the borrower, L&A RE Acquisitions. The loan features a 30-year term and a fixed rate. Adira at Riverside offers a certified respiratory and vent unit; short-term rehab; occupational, physical and speech therapy; wound care; neuro-rehabilitation; certified cardiopulmonary rehabilitation; long-term skilled nursing care; dedicated Alzheimer’s and dementia care units; and stroke and TBI rehab. On-site amenities include a modern fitness facility, concierge and a variety of recreational activities for residents.
NEW YORK CITY — Stellar Management, along with its partner Argent Ventures, has received a $25 million loan package to refinance The Willard, located at 252 W. 76th St. in Manhattan. New York Community Bank provided the loan, which was arranged by Meridian Capital Group. Purchased in 2013, The Willard features 53 apartment units and amenities, including a renovated lobby, gym, fitness center, children’s playroom and private storage facility. Paula Katz of Gluck & Katz represented Stellar Management, while Farber, Rosen & Kaufman P.C. represented New York Community Bank in the financing.
NEW YORK CITY — GFI Realty has brokered the sale of a development site located at 203 Sutter Ave. in Brooklyn’s Brownsville section. A local investor acquired the site for $5.6 million. The parcel has a total of 57,648 buildable square feet, with approved plans for a 42-unit residential building. Yisroel Pershin and Eli Shilian of GFI Realty represented the seller, a local investor, while Sylvia Spielman, also of GFI, represented the buyer in the deal.
MURRIETA, CALIF. — HFF has arranged the $56.6 million sale of Murrieta Town Center, a 334,939-square-foot shopping center in the Southern California town of Murrieta. Bryan Ley, Gleb Lvovich and Justin Kundrak of HFF arranged the transaction on behalf of the seller, Jade Enterprises. An affiliate of U.S. Realty Partners acquired the asset. Murrieta Town Center was 81 percent occupied at the time of sale by Burlington, Rite Aid, Ross Dress for Less, Marshalls, Famous Footwear, Dollar Tree and Sizzler.
FOOTHILL RANCH, CALIF. — An affiliate of Menlo Equities LLC has received $39 million in financing for Towne Centre, a 292,271-square-foot office campus in the South Orange County submarket of Foothill Ranch. The Class A campus is located at 27042, 27051 and 27121 Towne Centre Drive. The property was renovated in 2016 and 2016. It is 77 percent leased to Ossur America, Rockwell Automation, Edward Jones, AVST, First National Capital, Fujitsu, Eagle Community Credit Union and Cox Communications. HFF’s Kevin MacKenzie, Greg Brown, Jamie Kline and Nick Lench arranged the five-year, floating-rate loan. Wells Fargo Bank provided the capital.
SEATTLE — Harborview Capital Partners has arranged five loans totaling $14.7 million for a 127-unit multifamily portfolio in Seattle. The Freddie Mac loans provided cash-out to the borrower and feature interest rates below 4 percent. Harborview’s Jeffrey Fuchs closed the loans.
BEVERLY HILLS, CALIF. — Charles Dunn Co. Has arranged the sale of a retail property located at 207-209 S. Robertson Blvd. In Beverly Hills. Pagani of Beverly Hills acquired the property from a Los Angeles-based limited liability company for $3.9 million. The buyer plans to renovate the 3,727-square-foot property and use it to showcase and sell its high-end supercars. Justin Mendelson and Joshua Berger of Charles Dunn Co. represented the buyer and advised the seller in the deal.
TUSTIN, CALIF. — Lee & Associates has brokered the sale of a retail building located at 535 E. Main St. within the Newport & Main Center in Tustin. Torrance, Calif.-based Rehka Bajaria & Farrand Investments sold the building to Tustin-based Ayala Capital Group for $2.5 million. The building features 4,748 square feet of space. Randy Dalby of Lee & Associates – North San Diego County and Tom Gioia of Lee Irvine represented the seller, while Silverpoint Advisors represented the buyer in the transaction.
MCKINNEY, TEXAS — Developer Shane Jordan will build Hub 121, a 22-acre mixed-use property that will be located within the Craig Ranch development in McKinney. The first phase of the project will deliver a 40,000-square-foot restaurant park with pedestrian walkways that connect to Independent Bank’s 400,000-square-foot headquarters and the development’s 2,500-unit residential community. Phase I will also deliver a 6,500-square-foot entertainment pavilion, 20,000 square feet of retail space and 287 residential units. Construction of Phase I will begin in January 2018, with the first restaurants scheduled to open in January 2019. Phase II will deliver a 200,000-square-foot office building, additional retail space and a hotel.
FORT WORTH, TEXAS — Hillwood has broken ground on Parkside at Alliance Town Center, a 3.5-acre dining and entertainment destination that will be located within the 900-acre AllianceTexas development in Fort Worth. Upon completion, the property will feature a live music stage and space for outdoor games. Two restaurants, Grub Burger Park and Shell Shack, have already committed to operating within the site, with more to come. Construction for the Grub Burger Park and Shell Shack locations is expected to be complete by summer 2018.