NEW YORK CITY — Greystone has provided $22.1 million in Freddie Mac financing for a 12-property multifamily portfolio in Brooklyn. The borrower is Yoel Goldman. The refinanced properties, which all contain between five and 12 units, all received five-year, fixed-rate Freddie Mac Small Balance Loans that include an additional 15 years and one-year of interest-only payments. The borrower received $9.6 million in cash-out proceeds and plans to invest capital into each property. The properties include 165 Central Ave.; 1358 Dekalb Ave.; 145 Driggs Ave.; 136 Kingsland Ave.; 146 Skillman St.; 161, 191 and 163 Troutman St.; 54 Lewis Ave.; 11 Gunther Place; 1136 Willoughby Ave.; and 189 Menahan St. Anthony Cristi of Greystone originated the loans.
FRANKLIN, MASS. — Transwestern Consulting Group (TCG) has arranged the sale of an industrial building located at 130 Constitution Blvd. in Franklin. Novaya Real Estate Ventures sold the property to Albert Milstein, Barry Kirschenbaum and Sanford Bokor of $6.4 million. The property features 59,970 square feet of industrial space. John Lashar, Chris Skeffington and Roy Sandeman of TCG represented the seller and assisted in sourcing the buyer in deal.
ASHFORD AND MANSFIELD, CONN. — Northeast Private Client Group has brokered the sale of a three-building, 91-unit apartment portfolio located in Ashford and Mansfield. Harvest Properties sold the portfolio to Axela Group for $5.2 million, or $57,000 per unit. The portfolio includes the 24-unit Mar-Lea Park Apartments, located at 57-69 Varga Road in Ashford, and the 34-unit Woodlawn Apartments, located at 80 Bicknell Road in Ashford. Bradley Balletto and Edward Jordan of Northeast Private Client Group represented the seller and sourced the buyer in the deal.
DEERFIELD, ILL. — The merger between Walgreens Boots Alliance Inc. (NASDAQ: WBA) and Rite Aid Corp. (NYSE: RAD) has been terminated. Instead, Walgreens will purchase 2,186 stores and three distribution centers from Rite Aid for $5.2 billion. The previous merger agreement was unveiled in October 2015. In December 2016, Fred’s Pharmacy signed an agreement with Walgreens and Rite Aid to purchase 865 stores. Both of these agreements have been terminated, and Walgreens will pay Rite Aid the $325 million termination fee. Deerfield-based Walgreens will begin acquiring stores and related assets on a phased basis over a period of approximately six months, and intends to convert acquired stores to the Walgreens brand over time. Walgreens expects synergies from the new transaction to be in excess of $400 million.
NEWBERRY, S.C. — Samsung plans to open a $380 million home appliance manufacturing plant in Newberry, roughly halfway between Greenville and Columbia, S.C. The project is expected to produce 954 jobs, including craftsmen, operators, engineers and other technical and non-technical positions, by 2020. Samsung already operates a call center in Greenville that supports 800 full time and contracted jobs. The Newberry plant is the latest in a series of investments over the past 18 months totaling $10 billion that will expand Samsung’s U.S. holdings and operations.
MIAMI — Rose & Berg Realty, a New-York-based private real estate company, has unveiled plans to develop The Gateway at Wynwood, a 12-story, 200,000-square-foot office building located at 2916 N. Miami Ave. in Miami’s Wynwood neighborhood. The building will have eight floors of office space above four floors of covered parking. In addition, The Gateway at Wynwood will include approximately 25,000 square feet of retail space being marketed by RKF. Kobi Karp Architecture and Interior Design is the architect of the project, and Jack Lowell, Adriana Rosillo and Noa Figari of Colliers International will handle the leasing of the building’s office space.
FAYETTEVILLE, ARK. — Strategic Student & Senior Housing Trust Inc., a REIT focusing on student housing and seniors housing acquisitions and sponsored by SmartStop Asset Management LLC, has purchased a student housing community near the University of Arkansas for $57 million. Known as The District, the 592-bed community is located at 376 W. Watson St. in Fayetteville, roughly a half-mile from the university’s campus. The 198-unit property includes one-, two-, three- and four-bedroom, fully furnished floor plans. Completed in 2016, the LEED Gold-certified community features a business center, study rooms, pool, spa, courtyard, fitness facility and a yoga room. Asset Campus Housing will manage the property, which was 95 percent preleased at the time of sale for the 2017-2018 academic year.
MARIETTA AND COLLEGE PARK, GA. — Grandbridge Real Estate Capital has secured a $29.5 million first mortgage loan for Ivy Common Apartments, a 344-unit multifamily community in Marietta, and an $18 million first mortgage loan for the Parc at 1875, a 352-unit property in College Park. Alan Tapie and Thomas Wiedeman of Grandbridge arranged the 10-year, interest-only loans with 30-year amortization schedules through Freddie Mac’s Capped ARM loan product. The deals closed with interest rates in the low 3 percent range. Ivy Commons is located at 3555 Austel Road S.W. in Marietta, roughly 20 miles north of Atlanta, and features tennis courts, a pool and a fitness center. The Parc at 1875 is located at 1875 E. Pleasant Hill Road in College Park, and features a fitness center, playground, tennis court and a pool.
JACKSONVILLE, FLA. — Michael Development Corp. has acquired One Enterprise Center, a 317,571-square-foot office building located at 225 Water St. in downtown Jacksonville. The Los Angeles-based company purchased the 22-story tower via Rosecrans 2004 LLC. John Bell of Transwestern negotiated the sale on behalf of the buyer. The property features a glass panel exterior, marble lobby and a glass atrium dome with a tower directly connected to the 354-room Omni Jacksonville Hotel. The office building and hotel share a parking garage that offers a ratio of 2.26 spaces per 1,000 square feet. One Enterprise Center was 51 percent leased at the time of sale.
MICHIGAN — Greystone has provided 13 HUD-insured loans totaling $79 million for the refinancing of The Altman Cos.’ multifamily portfolio in Michigan. The loans feature long-term, fixed-rate financing. The 13 properties are a blend of market rate and Section 8 housing units. The buildings are located throughout the state, from the Upper Peninsula to Roseville, about 18 miles north of Detroit. In addition to The Altman Cos.-owned properties, the refinanced portfolio includes one property owned by a private real estate group and two affordable housing communities, Charter Square and Green Hill apartments, which are owned by The Boys & Girls Club Non-Profit Housing Corp., with the proceeds going to The Boys & Girls Club of Lansing.