WILMINGTON, DEL. — Grandbridge Real Estate Capital has arranged a $44.5 million first mortgage loan secured by an eight-property, 4,400-unit self-storage portfolio in Wilmington. Michael Balan of Grandbridge originated the refinancing transaction for Storage Rentals of America. The fixed-rate loan was funded through BB&T Real Estate Funding and features a 10-year term and 25-year amortization schedule.
JERSEY CITY, N.J. — Gebroe-Hammer Associates has arranged the $7.8 million sale of a multifamily property in Jersey City. Nicholas Nicolaou represented the seller, an independent real estate investment firm, and identified the buyer in the sale of the 72-unit portfolio. Comprising three separate buildings located at 158 Bergen Ave. (25 units), 162 Bergen Ave. (26 units) and 232 Bidwell Ave. (21 units), the portfolio is situated within the Greenville neighborhood at the southernmost point of Jersey City. The per-unit price of the sale was $107,600. The properties are located near light rail services and bus routes along with high-traffic roads including I-78, I-287 and the New Jersey Turnpike.
WASHINGTON, D.C. — Chicago-based Pearlmark Real Estate and Lincoln Property Co. are teaming up to develop an 11-story trophy office building at 699 14th St. N.W. in Washington, D.C.’s East End, less than two blocks from the White House. Situated at the corner of 14th and G streets, the development will connect to the existing historic banking hall, which was last occupied by the National Bank of Washington. Designed by Shalom Baranes Associates, the 160,000-square-foot property will feature 135,000 square feet of office space and 25,000 square feet of ground-floor retail space. The office space will feature 9-foot ceilings, floor-to-ceiling glass, multiple common rooms and private outdoor terraces. As part of the joint venture agreement, Lincoln Property Co. will develop, lease and manage the office building. Matt Haley and Ryan Kruzel were the lead executives on the transaction for Pearlmark. Stephen Conley, Susan Carras and Andrew Weir of HFF arranged the joint venture between Pearlmark and Lincoln.
HAMDEN, CONN. — HLKT 655 Fitch LLC has acquired Willow Woods, a two-building multifamily complex containing 52 units at 655 Fitch St. and 42 Warner St. in Hamden, for $4.2 million. The property, which is contiguous to Southern Connecticut State University, consists of 45 two-bedroom units and seven one-bedroom units on 1.5 acres. Stephen Press of Press/Cuozzo Commercial Services and David Gorbach of Colonial Realty represented the seller, LMJ Properties, and procured the buyer.
KEENE, N.H. — The Wilder Cos. has taken on the leasing and management of Fairbanks Plaza in Keene. Effective April 1, the contract was awarded by the center’s owner, Unison Realty Partners of Boston. Fairbanks Plaza is a 143,000-square-foot open-air center with tenants including Kohl’s, Aldi and Walgreens. The property is the fourth Unison Realty Partners center managed by Wilder.
GLEN BURNIE, MD. — MidCap Financial has provided a three-year, $20 million acquisition loan for Quarterfield Crossing, a 200-unit, garden-style multifamily community located in Glen Burnie, about 13 miles south of Baltimore. MidCap Financial provided the financing to Blackfin Real Estate Investors and limited partner Capital Solutions. Dan Martin of Walker & Dunlop arranged the financing.
MIAMI — Grandbridge Real Estate Capital has closed a $17.3 million loan for a 375,000-square-foot industrial facility in Miami. The three-building complex was 98 percent leased at the time of financing. Philip Carroll of Grandbridge’s Miami office arranged the seven-year loan with a sub-4 percent fixed interest rate and a 30-year amortization schedule through an unnamed life insurance company.
FORT MYERS, FLA. — Marcus & Millichap has arranged the $11.4 million sale of Candlewood Suites Fort Myers-Sanibel Gateway, a 120-room hotel located at 9740 Commerce Center Court in Fort Myers. Built in 2009, the hotel is situated near several beaches including Fort Myers Beach, Sanibel and Captiva. AD1 Global purchased the asset from an undisclosed private investment group. Jonathan Ruprai and Krone Weidler of Marcus & Millichap’s Tampa office represented the seller in the transaction and procured the buyer. Noam Kaminetzky of Meridian Capital Group arranged a $9.5 million, three-year acquisition loan on behalf of AD1 Global.
DUNWOODY, GA. — CBRE has arranged the sale of Aspire Dunwoody, a more than 500-unit multifamily community located at 7150 Peachtree Dunwoody Road in Dunwoody, part of Atlanta’s Central Perimeter submarket. Affiliates of Harbor Group International purchased the asset from Lincoln Property Co. for an undisclosed amount. Prior to the sale, Lincoln invested $6.3 million to renovate Aspire Dunwoody’s interior units and community amenities. Kevin Geiger, Malcolm McComb, Paul Berry and Shea Campbell of CBRE’s Southeast Multifamily Group represented the seller in the transaction.
SAN ANTONIO — Dougherty Mortgage LLC, a Minnesota-based mortgage broker, has secured a $16.5 million Fannie Mae loan for the acquisition of Parc 410 Apartment Homes, a 344-unit multifamily property located at 5927 N.W. Loop 410 on San Antonio’s northwestern side. Property amenities include two pools, tennis and basketball courts, fitness center and a gated dog park. The 12-year loan, which features a 30-year amortization schedule, was arranged through a partnership with Old Capital Lending on behalf of the borrower, 5827 Loop 410 LLC.