Property Type

Greystone Provides $27.5M Loan for 66-Unit Assisted Living Community in San Jose

by Nellie Day April 6, 2017

SAN JOSE, CALIF. — Greystone, a real estate lending, investment and advisory company, has provided a $27.5 million loan for Oakmont of San Jose, a 66-unit assisted living and memory care community in San Jose. The Freddie Mac loan provides permanent financing to help with lease-up following the recent completion of the community. The loan has an 11-year term with a fixed rate and 30-year amortization schedule. The new financing replaces the remaining balance on the community’s construction loan. Scott Kavel, Neal Raburn and Cary Tremper of Greystone originated the financing.

April 6, 2017

California Multifamily Seniors Housing Western

CBRE Combines Seniors Housing, Medical Office Practices

by Nellie Day April 6, 2017

LOS ANGELES — CBRE Group Inc. has announced plans to combine two of its valuation and advisory practices — Seniors Housing & Care and Medical Office — into a single, cohesive Healthcare Practice Group. The property types covered by the new Healthcare Practice Group include independent living, assisted living, memory care, nursing care, continuing care retirement communities, medical office, surgical centers, outpatient rehab and hospitals. Zach Bowyer, Tom Baroch and Bennett Johnson will lead the new group. Over the past three years, both groups have achieved a combined 30 percent year-over-year growth in revenues. In 2016, these groups completed valuation or advisory assignments on more than 3,000 seniors housing and medical properties throughout the U.S. with an aggregate valuation of over $50 billion.

April 6, 2017

Multifamily New Jersey Northeast

Construction Underway on Woodmont Cove at South Amboy Apartment Property in New Jersey

by Haisten Willis April 6, 2017

SOUTH AMBOY, N.J. — Woodmont Properties has commenced construction of Woodmont Cove at South Amboy, a transit-oriented apartment community in South Amboy. Woodmont Cove is located seven blocks from the South Amboy transit train station, which provides a 30-minute ride to Newark Penn Station and a 51-minute train ride to New York City. Woodmont Cove will feature 106 townhouse-style apartments with garage parking and 20 apartment flats. Unit amenities will include quartz countertops, stainless steel appliances and second-floor balconies. Each apartment will also include a washer and dryer. Woodmont Cove is located near the Garden State Parkway, New Jersey Turnpike, Interstate 28, and state highways 35, 1 and 9. Leasing will begin this summer, with occupancy beginning in September.

April 6, 2017

Industrial New York Northeast Office

Northwell Health Leases 50,000 SF Office/Industrial Space from Nassimi Realty in Lake Success, N.Y.

by Haisten Willis April 6, 2017

LAKE SUCCESS, N.Y. — Northwell Health has leased 50,000 square feet of office and industrial space at 2500 Marcus Ave. in Lake Success, a property owned by Nassimi Realty. With the lease, the property is 100 percent occupied. Nearby employers include Long Island Jewish Medical Center and North Shore University Hospital. Daniel Brandel of CBRE represented Northwell in the transaction. Northwell Health is one of New York’s largest healthcare providers with 21 hospitals and over 550 outpatient practices. Nassimi Realty is a privately held development and investment company specializing in the redevelopment of existing properties.

April 6, 2017

New Hampshire Northeast Office

Margulies Perruzzi Architects Completes Office Laboratory Space in Salem, N.H.

by Haisten Willis April 6, 2017

SALEM, N.H. — Margulies Perruzzi Architects (MPA), an architectural and interior design firm, has completed a 30,000-square-foot laboratory and office facility for Boston Analytical, the life sciences division of Alpha Analytical. Located in Salem, Boston Analytical’s new space houses chemistry and microbiology laboratories equipped with analytical testing equipment. Boston Analytical’s testing services are used by pharmaceutical, biopharmaceutical and medical device companies. MPA programmed and designed the spaces, including 20,000-square-foot chemistry, stability and microbial labs and 2,000 square feet of ISO 8 to ISO 5 clean rooms.

April 6, 2017

Loans New York Northeast Retail

KeyBank Secures $19.5M CMBS Financing for Retail Portfolio in New York

by Haisten Willis April 6, 2017

ALDEN, MEDINA & NIAGARA FALLS, N.Y. — KeyBank Real Estate Capital has secured $19.5 million in CMBS financing for a retail portfolio consisting of three Tops grocery-anchored shopping centers. The properties are located in Alden, Medina and Niagara Falls, and total 250,174 square feet. William Cassidy of Key’s commercial mortgage group arranged the financing with a 10-year term and 30-year amortization schedule. The non-recourse first mortgage loan was used to refinance existing debt.

April 6, 2017

Connecticut Northeast Office

Angel Commercial Arranges $2.2M Sale of Office Building in Westport, Conn.

by Haisten Willis April 6, 2017

WESTPORT, CONN. — Brett Sherman of Angel Commercial has arranged the $2.2 million sale of 1555 Post Road E. in Westport. Located on Route 1, the property consists of an 11,461-square-foot office building on .61 acres. Sherman represented the buyer, BAO Partners, which plans to update the building with a new roof, HVAC, windows, masonry and parking lot.

April 6, 2017

Illinois Midwest Retail

Federal Realty Acquires 211,000 SF Shopping Center in Chicago for $107M

by Kristin Harlow April 6, 2017

CHICAGO — Federal Realty Investment Trust has acquired Riverpoint Center in Chicago’s Lincoln Park for $107 million. The 211,000-square-foot grocery anchored shopping center sits on 17 acres at the corner of West Fullerton and North Clybourn avenues. Riverpoint Center is currently 97 percent occupied and is anchored by Jewel-Osco, Marshalls and Old Navy. Federal Realty anticipates increasing the value of the property over time through the re-leasing of space currently leased at below market rents and the potential to increase density at the infill site, according to a news release.

April 6, 2017

Mixed-Use Texas

Stonelake Finalizes Plans for Phase III of 11.5-Acre Mixed-Use Development in Houston

by Taylor Williams April 6, 2017

HOUSTON — Stonelake Capital Partners has finalized plans for Phase III of Park Place River Oaks, an 835,000-square-foot, mixed-use development situated on 11.5 acres along Westheimer Road in the River Oaks submarket of Houston. Phase III will consist of two four-story buildings, including 105,000 square feet of retail space and 105,000 square feet of office space. Phase I of the project consisted of an eight-story, 344-unit multifamily building, which is now 90 percent leased. Phase II consisted of a 17-story, 297-unit high-rise, completion of which is slated for this 2017.

April 6, 2017

Florida Retail Southeast

ESJ Capital Partners Purchases Jungle Island Park in Miami for $60M

by John Nelson April 6, 2017

MIAMI — ESJ Capital Partners has purchased Jungle Island, an 18-acre zoological park located on Watson Island along the MacArthur Causeway in Miami. The $60 million transaction includes transfer of the existing lease on the City of Miami-owned Watson Island to ESJ Capital, along with assuming existing park debt to the City of Miami, Miami-Dade County and the U.S. Department of Housing and Urban Development (HUD). ESJ Capital will renovate and expand the park in three phases and add a private beach club. The initial phase of the two-year, multimillion-dollar renovation will debut this summer and feature zip lines, children adventure areas, water slides and a crystal lagoon. Enhancements will also be made to the park’s banquet facilities. Jungle Island will continue to be managed by John Dunlap of Iconic Attractions Group, the San Diego-based company currently responsible for the park’s operations and day-to-day administrations.

April 6, 2017

Newer Posts

Older Posts