Property Type

CBRE Secures $17.1M Acquisition Loan for 54-Unit Assisted Living Community in San Francisco

by Nellie Day May 25, 2016

SAN FRANCISCO — CBRE Multifamily Capital has arranged a $17.1 million Fannie Mae loan for the acquisition of Eden Villa Assisted Living & Memory Care, a 54-unit assisted living and memory care community in San Francisco. A joint venture between Auctus Capital Partners and Och-Ziff Capital Management is purchasing the property from an undisclosed seller. The buyers will bring in Integral Senior Living to manage the property. Following the acquisition, the buyers plan to invest in adding additional units and cosmetic enhancements to the property. Aron Will, executive vice president of CBRE National Senior Housing, arranged the non-recourse, 10-year, fixed-rate loan with 60 months of interest-only payments.

May 25, 2016

California Multifamily Western

Skya, Gelt Buy Highland Park Apartment Complex in Los Angeles for $14.2M

by Nellie Day May 25, 2016

LOS ANGELES — A joint venture between Skya Ventures and Gelt Ventures has purchased a 60-unit apartment complex in the Highland Park neighborhood of Los Angeles for $14.2 million. The community is located at 5800 to 5820 Marmion Way. It was built in 1987. The property was 91 percent occupied at the time of sale. The JV acquired the asset as a value-add opportunity. It plans to target much of the community’s deferred maintenance. The seller was Azusa Pacific University.

May 25, 2016

California Multifamily Seniors Housing Western

JCH Arranges Sale of 130-Bed Skilled Nursing Facility Near Los Angeles

by Nellie Day May 25, 2016

LYNWOOD, CALIF. — JCH Senior Housing Group has brokered the sale of Bloomfield East, a 130-bed skilled nursing facility in the Los Angeles submarket of Lynwood, for an undisclosed price. A Los Angeles-based real estate investment company purchased the community from an undisclosed for-profit corporation, and immediately triple-net leased it to a new operator, Reliant Management Group. Shep Roylance, senior vice president with JCH, facilitated both the sale and lease transactions.

May 25, 2016

California Industrial Western

Partners Capital Buys Industrial Building in Compton for $5.7M

by Nellie Day May 25, 2016

COMPTON, CALIF. — Partners Capital has purchased a 51,674-square-foot industrial building in Compton for $5.7 million. The fully occupied facility is located at 510 W. Carob St. It was built in 1974. Remington Moses and Trauger Ralston of Lee & Associates LA/Long Beach represented both the buyer and seller, Create & More LLC, in this transaction. The buyer purchased the property as a sale-leaseback.

May 25, 2016

Life Sciences Loans Massachusetts Northeast Office

Longfellow Real Estate Partners Receives $51M in Financing for Biotech Building in Massachusetts

by Amy Works May 25, 2016

CAMBRIDGE, MASS. — An affiliate of Longfellow Real Estate Partners has received $51 million in recapitalization financing for a laboratory/biotechnology building located at 1030 Massachusetts Ave. in Cambridge. Greg LaBine of HFF placed the five-year, fixed-rate loan with Capital One Healthcare for the borrower. The 77,805-square-foot property is fully leased to seven tenants: five biotech tenants, an indoor cycling studio and a restaurant, which is slated to open in early this summer.

May 25, 2016

Mixed-Use Multifamily New Jersey Northeast Retail

Brunetti Organization to Develop 2,400-Acre Mixed-Use Town Center in New Jersey

by Amy Works May 25, 2016

OLD BRIDGE, N.J. — The Brunetti Organization is developing The Oaks at Glenwood, a 2,400-acre mixed-use town center development in Old Bridge. Construction for the 90,000-square-foot ShopRite supercenter is slated to begin soon, with occupancy of the grocery store and other retail tenants scheduled for summer 2017. ShopRite will anchor the retail portion of the property. Upon completion, the mixed-use property will feature 2,000 residential units and more than 500,000 square feet of retail space. The Goldstein Group is marketing the retail portion of the property.

May 25, 2016

New York Northeast Office

Kinsey Capital Negotiates $38.2M Acquisition of 29,162 SF Office Property in Manhattan

by Amy Works May 25, 2016

NEW YORK CITY — Kinsey Capital has arranged the acquisition of an office property located at 4-6 E. 34th St. in Manhattan’s NoMad neighborhood. An affiliate of Caerus Group acquired the 29,162-square-foot property from the Zionist Organization of America for $38.2 million, or $1,312 per square foot. The property also features air rights to allow for a total of 52,300 square feet. Brent Glodowski of Kinsey Capital represented the buyer, while CBRE represented the seller.

May 25, 2016

Delaware Healthcare Northeast Office

Capital & Guarantee to Develop 120,000 SF Medical Complex in Delaware

by Amy Works May 25, 2016

WILMINGTON, DEL. — Capital & Guarantee is developing Fenwick Medical Complex, a six-building facility in Wilmington. When complete, the property will feature 120,000 square feet of space, ample parking and a heliport. Anchored by a full-service emergency medical center, the complex will be occupied by various medical specialists and physicians, including cardiovascular, family practice, gastroenterology, gynecology, podiatry, internal medicine, psychology, spinal care and vein care offices. Physician and office space is available as build-to-suit units regardless of size or floor plans.

May 25, 2016

Loans Massachusetts Northeast Office

NorthMarq Arranges $2.4M in Refinancing for Office Property in Massachusetts

by Amy Works May 25, 2016

NORWELL, MASS. — NorthMarq Capital has arranged $2.4 million in refinancing for Longwater Circle, an office property located in Norwell. The commercial mortgage transaction features a long-term fixed rate for more than 10 years with a 30-year amortization and a flexible prepayment schedule. Michael Chase of NorthMarq secured the financing through a regional bank for the undisclosed borrower.

May 25, 2016

Hospitality Illinois Midwest

Janko Group Opens 114-Room Hotel in Chicago Suburb

by Christina Cannon May 25, 2016

EVANSTON, ILL. — Developer and investment firm Janko Group LLC has opened the Hyatt House Chicago/Evanston, a 114-room, extended-stay hotel in downtown Evanston, approximately 20 miles north of Chicago. Janko Hospitality LLC will manage the eight-story hotel located at 1515 Chicago Ave. Amenities at the property include an indoor and outdoor lounge, a restaurant and bar, 1,300 square feet of meeting space, a fitness center, business center, laundry facility, free Wi-Fi and complimentary breakfast. Des Plaines, Ill.-based Peak Construction Corp. was the design/build firm for the project, and Chicago-based SCB Architecture served as the architect of record.

May 25, 2016

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