LOS ANGELES — NorthMarq Capital has arranged the refinancing of two retail properties in Los Angeles. David Blum of NorthMarq arranged a $4.4 million loan for Atlanthub, a 32,768-square-foot retail property anchored by Kipp LA Schools; and a $2.5 million loan for Broadmark, a 14,331-square-foot retail property anchored by AutoZone. Both transactions were structured with a 20-year term and a 30-year amortization schedule. A life insurance company provided the capital for Broadmark.
BRUSH, COLO. — Eben Ezer Lutheran Care Center has selected OZ Architecture, a Denver-based firm, to redesign the assisted living and memory care community, located in Brush, approximately 90 miles northeast of Denver. Eben Ezer currently offers 54 assisted living units and 18 memory care units. The improvements will span 54,000 square feet, with the goal of increasing capacity and improving the campus. The community is over 100 years old and features a historic church at the heart of the campus. OZ’s design will build upon the previously developed master plan for the campus. Construction is slated to begin this month.
HARRISBURG, PA. — Unison Realty Partners has acquired 100 percent ownership interest in the 132,000-square-foot non-anchor portion of High Pointe Commons, a 355,000-square-foot regional shopping center located in Harrisburg, for $33.8 million. The 132,000-square-foot acquisition includes retail space occupied by Christmas Tree Shops, Chili’s Bar & Grill, Famous Footwear, Lane Bryant, Sleepy’s and Petco. Built in 2006, the property is anchored by an independent 125,000-square-foot Target and a 98,000-square-foot JCPenney, which were not included in the sale. High Pointe Commons is currently 99 percent leased. Brad Nathanson of CBRE represented the seller, a joint venture between High Real Estate Group and CBL & Associates. Thomas Gorman, also of CBRE, represented the buyer in arranging financing for the acquisition.
NEW YORK CITY — Three private investors, JD Broadway Realty, JE Broadway Realty and 90-31 Whitney Broad, have acquired a multifamily building located at 90-31 Whitney Ave. in the Elmhurst section of Queens. Whitney LLC sold the six-story property for $17 million. Built in 1936, the 67,200-square-foot building features 60 apartments. Aaron Jungreis of Rosewood Realty Group represented the seller, while Michael Guttman, also of Rosewood, represented the buyer in the deal.
NEW YORK CITY — Brookhill Properties has purchased a five-story residential and commercial building located at 332 E. 9th St. in Manhattan East Village. Tabak Family Realty Co. sold the property for an undisclosed price. Built in 1920, the 9,546-square-foot property features 20 residential units and two commercial spaces. Paradigm Commercial Real Estate assisted Brookhill in the transaction.
NEW YORK CITY — GFI Realty Services has brokered the sale of an apartment building located at 250 Sherman Ave. in Manhattan’s Inwood section. Lewis Barbanel of Barberry Rose Management acquired the property from a local investor for $4.3 million. The five-story, 17,350-square-foot building features 20 residential units. Daniel Shragaei of GFI represented the seller, while Sasha Berg, also of GFI, represented the buyer in the transaction.
DARIEN, CONN. — O,R&L Commercial has arranged the sale of a 3.7-acre land parcel located at 131 Hollow Tree Ridge Road in Darien. John Hertz and Robert Wood acquired the property for $3.7 million. The seller was Karen Park, as authorized by the Superior Court of the Judicial District of Hartford, Conn. The buyers plan to develop a 100,000-square-foot storage facility on the site. Phil Marshall of O,R&L Commercial represented the seller, while Halstead Properties represented the buyer in the deal.
HOUSTON — Jamie Mullin of LMI Capital has arranged permanent financing for the acquisition and refinancing of three garden-style apartment complexes and one shopping center in the Houston area. In the first transaction, Mullin originated a 10-year, fixed-rate CMBS loan for a 200-unit asset in southeast Houston. The first mortgage loan featured a three-year, interest-only period and proceeds were for 75 percent of the purchase price. In the second transaction, Mullin arranged a refinancing loan for a 390-unit asset in the Alief submarket. The $11.4 million, 10-year Fannie Mae financing included a 3.9 percent interest rate with a three-year, interest-only period. The capital provided the borrower with over $2.5 million in cash out proceeds, which will be used for future acquisitions. In the third transaction, Mullin placed a $10 million, 10-year CMBS loan for a 60,000-square-foot shopping center located in southwest Houston. The loan featured one year of interest-only payments, minimal closing costs, a 4.4 percent interest rate and returned over $3 million of equity back to the borrower. Subsequent to their acquisition nine years ago, the owners spent over $3.5 million improving the center. The final transaction was a refinancing loan placed with a national bank for a 120-unit …
DALLAS — Sealy & Co. has acquired a 1.5 million-square-foot industrial portfolio located in four submarkets in Dallas. The industrial portfolio is comprised of 18 buildings occupied by a diverse tenant base. The assets were acquired as part of the Sealy Strategic Equity Partners LP portfolio. The seller in the transaction was undisclosed.
CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 120,483-square-foot industrial building located at 2425 Camp Ave. in Carrollton. Nathan Denton, Adam Graham and Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the seller, Evergreen Properties. Ryan Boozer and Todd Poticny of Stream Realty Partners LP represented the buyer, UT Vehicle.
