Property Type

KeyBank Provides $11.3M Loan for Refinancing of Workforce Housing Property in Madison, Wisconsin

by Kristin Harlow May 17, 2017

MADISON, WIS. — KeyBank Real Estate Capital has provided an $11.3 million loan for the refinancing of The Villages, a 193-unit workforce housing community in Madison. The property is currently leased to tenants at rent levels that qualify as being affordable to people who make 60 percent or less of the area median income. Dirk Falardeau and Robert Ray of KeyBank arranged the 10-year loan through Fannie Mae. Sundance Bay Multifamily, the multifamily development affiliate of San Diego-based Sundance Bay, was the borrower.

May 17, 2017

Indiana Midwest Retail

Yale Realty Acquires 47,663 SF Shopping Center in Terre Haute, Indiana

by Kristin Harlow May 17, 2017

TERRE HAUTE, IND. — Yale Realty Services Corp. has acquired the Sycamore Terrace shopping center in Terre Haute, 77 miles southwest of Indianapolis. The purchase price was not disclosed. The 47,663-square-foot retail center is located at the intersection of I-70 and U.S. 41 and is shadow-anchored by a Walmart Supercenter. Other tenants include Dollar Tree, Pet Supplies Plus, Rent A Center, Maurices, Monical’s Pizza, GameStop, GNC and Fantastic Sams. Sycamore Terrace is the company’s first acquisition in the state of Indiana as it continues to focus on acquiring shopping centers anchored by Walmart Supercenters in growing secondary and tertiary markets. Based in Westchester County, N.Y., the firm owns and operates a portfolio of high-yield retail properties in the eastern United States.

May 17, 2017

Michigan Midwest Retail

Watson’s to Open 25,000 SF Retail Store in Portage, Michigan

by Kristin Harlow May 17, 2017

PORTAGE, MICH. — Watson’s has signed a 25,000-square-foot retail lease for its first location in the Kalamazoo area. The national home living retailer will occupy the space at 6695 S. Westnedge Ave. in Portage, just south of Kalamazoo. Renovations to the former ABC Warehouse space are nearing completion, as Watson’s expects to open on May 27. The store will feature one of the largest displays of indoor and outdoor furniture, home recreation, pools and hot tubs in the area. Kara Schroer of NAI Wisinski of West Michigan brokered the lease transaction.

May 17, 2017

Multifamily New York Northeast

Strategic Capital Forms Joint Venture for Multifamily Development in NYC

by Haisten Willis May 17, 2017

NEW YORK CITY — Strategic Capital has made a $140 million equity investment for a multifamily development in the Hudson Square neighborhood of Manhattan. Strategic’s investment consists of equity and mezzanine components invested in a joint venture with Cape Advisors and Forum Absolute Capital Partners (FACP). Strategic Capital will co-develop the property with Cape Advisors. Strategic Capital is the investment arm of China Construction America (CCA), which is the American subsidiary of China State Construction and Engineering Company (CSCEC). The site is located at 110 Charlton St. and 537 Greenwich St. When complete, the project will span 280,000 square feet with 170 residential units, ground-floor retail and parking. Plaza Construction, an affiliate of Strategic Capital is the general contractor for the project. Construction will begin in June and sales for the condominiums will begin in spring 2018.

May 17, 2017

New York Northeast Office

$15M Library Expansion Completed at LaGuardia Community College

by Haisten Willis May 17, 2017

LONG ISLAND CITY, N.Y. — A $15 million, 21,000-square-foot expansion of the LaGuardia Community College library is now complete. The college, part of the City University of New York (CUNY), has an enrollment of more than 50,000. The expansion converted a section of the second floor of the college’s E-Building into additional space for the library. The work makes the library 58 percent larger and doubles its capacity to 732 seats. The expansion also includes media rooms, 11 group study rooms, reading rooms, a media lab, faculty suites, archive space and 50 offices.

May 17, 2017

New Jersey Northeast Retail

M&M Brokers $4.5M Sale of Retail Property in Fort Lee, New Jersey

by Haisten Willis May 17, 2017

FORT LEE, N.J. — Marcus & Millichap has brokered the $4.5 million sale of 201 Main St., a 9,500-square-foot retail property located Fort Lee. Greg Babaian, Michael Lombardi and Steven Schiavello of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, another private investor.

May 17, 2017

New York Northeast Restaurant Retail

Eastern Consolidated Arranges Lease for Viand Cafe in NYC

by Haisten Willis May 17, 2017

NEW YORK CITY — Eastern Consolidated has arranged a lease for Viand Cafe at 517 Columbus Ave. in Manhattan. The restaurant has operated a location in the Hotel Beacon at 2130 Broadway for more than 15 years. The restaurant is taking a 1,856-square-foot space at the corner of 85th Street and Columbus Avenue previously occupied by Jackson Hole restaurant, which closed last year. Eastern Consolidated’s Ben Biberaj and Harris Bulow represented Viand Café in negotiating a 15-year lease for the retail space, which includes 70 feet of frontage and a 490-square-foot basement. Rafe Evans and Eric Fisher of Walker Malloy & Co. represented the landlord, Shared Equities LLC.

May 17, 2017

Loans Multifamily Texas

Berkadia Secures $130M in Financing for Multifamily Portfolio in Houston

by Taylor Williams May 17, 2017

HOUSTON — Berkadia has secured approximately $130 million in financing for H7, a seven-property multifamily portfolio in Houston. Totaling more than 2,000 units of Class B space, the portfolio had an average occupancy rate of 93 percent at the time of the loan closing. Ed Kim of Berkadia secured the floating-rate loan with a 75 percent loan-to-value ratio through an undisclosed CMBS lender.

May 17, 2017

Office Texas

AECOM to Relocate Regional Headquarters to One Galleria Tower in Dallas

by Taylor Williams May 17, 2017

DALLAS — AECOM, a global engineering firm, will relocate its regional headquarters to One Galleria Tower, a 25-story office complex located at 13355 Noel Road in Dallas. More than 250 employees will inhabit the 30,050 square feet of office space, which features an open floor plan with updated furnishings as well as more collaborative space. The firm expects to complete the move by the end of the year.

May 17, 2017

Loans Multifamily Texas

NXT Capital Provides $31.5M in Acquisition Financing for 246-Unit Community in Arlington

by Taylor Williams May 17, 2017

ARLINGTON, TEXAS — NXT Capital has provided a $31.5 million first mortgage loan for the acquisition of a 246-unit, Class A multifamily community in Arlington. The property is located between the junction of State Highways 183 and 360 and the intersection of Interstates 30 and 820. Mark Brandenburg of JLL arranged the financing on behalf of the undisclosed borrower.

May 17, 2017

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