OKLAHOMA CITY — Harborview Capital Partners has arranged an $11.6 million acquisition loan for a 304-unit multifamily property in Oklahoma City. Jeff Fuchs of Harborview negotiated the transaction. The five-year loan, provided by a regional lender, features a one-month LIBOR-based interest rate and two years of interest-only payments. The property totals 172,368 square feet and consists of 19 two-story, garden-style residential buildings situated on 10.7 acres. Amenities include two pools, over 400 parking spaces, two laundry facilities and a clubhouse.
DENVILLE, N.J. — CBRE Group has arranged the sale of The Shoppes at Union Hill, a lifestyle center located at 3056 State Route 10 West in Denville. Stanbery Development sold the 92,431-square-foot retail property for an undisclosed price. Built in 2003, the property was 93 percent occupied at the time of sale to a variety of tenants, including Gap, Pier 1 Imports, Banana Republic, Ann Taylor LOFT, Talbots, Jos. A. Bank, Starbucks Coffee and Panera Bread. Brad Nathanson and Jeff Dunne of CBRE represented the seller in the transaction. The name of the buyer was not released.
CHAMBERSBURG, PA. — Bennett Williams Commercial has brokered the sale of Gateway Center, a shopping center located at 400-498 Gateway Ave. in Chambersburg. Gateway Ventures Inc. sold the 49,882-square-foot property to 400 Gateway Associates Inc. for $7.4 million. Chad Stine and Brad Rohrbaugh of Bennett Williams Commercial represented the seller in the transaction.
ANDOVER, MASS. — Hilton Worldwide has opened DoubleTree by Hilton Boston Andover, located at 123 Old River Road in Andover. The five-story, 293-room hotel features guest rooms with 50-inch high-definition televisions, mini refrigerators, coffeemakers, clock radios, complimentary Wi-Fi; 24-hour fitness center; a heated pool and hot tub; computer station; and a restaurant and bar. The property, which recently underwent a renovation, is owned and managed by Linchris Hotel Corp.
EATONTOWN, N.J. — The Donato Group has received a $6.7 million loan for the acquisition of a 106,918-square-foot industrial flex property located at 34-38 Industrial Way East in Eatontown. Michael Klein of HFF arranged the five-year, floating-rate loan, provided by Lakeland Bank, for the borrower. The two-building facility features 14 individual flex units ranging in size from 3,000 square feet to 17,000 square feet. At the time of acquisition, the property was 83.6 percent occupied. Current tenants include Paw BioScience, Hanro of Switzerland, Augustine Consulting Inc., Alkaline Corp., KruseCom and Meridian Health.
DECATUR, GA. — Whole Foods Market has selected Decatur as one of the first cities to introduce its new 365 by Whole Foods Market concept. Set to open at North Decatur Square in spring 2018, the new grocery store will feature affordable and convenient groceries that still meet the Austin-based grocer’s high standard of quality. Fairburn, Ga.-based S.J. Collins Enterprises is developing North Decatur Square, a new 90,000-square-foot shopping plaza underway at North Decatur Road and Church Street. The first 365 by Whole Foods will open in Silver Lake, Calif., on May 25, 2016, followed by about 10 more over the next year in cities including Lake Oswego, Ore.; Bellevue, Wash.; Santa Monica, Calif.; Evergreen Park, Ill.; Sycamore Township, Ohio and Gainesville, Fla.
ATLANTA — Skyline Healthcare LLC will execute a purchase option on the master lease for the nine Arkansas skilled nursing facilities it currently operates for AdCare Health Systems Inc. Skyline will purchase the properties for $55 million. Skyline was brought in as the new manager of the nine facilities on April 1. The company expects to complete the purchase by Aug. 1. AdCare, a publicly traded skilled nursing investor, will use $30 million of the proceeds to repay mortgage debt on the nine properties. The Atlanta-based firm will use the remaining money for general corporate purposes.
SAVANNAH, GA. — Winter Construction plans to build a new seven-story boutique hotel in Savannah. The 173-room, 162,000-square-foot property will span an entire city block in the historic River Street district. Winter is building the hotel on behalf of developer RBHD and owner Rockbridge. Upon completion in October 2017, the hotel will feature two levels of parking, five levels of guest rooms, a fitness area, meeting space, pool, lobby bar, a restaurant on River Street and a rooftop event space and bar. The design team includes architect Gunn Meyerhoff Shay and interior designers FODA and Parts & Labor.
CHARLOTTE, N.C. — CBRE has brokered the sale of Lakemont West Business Park, a 970,000-square-foot industrial asset located in Charlotte’s Southwest submarket. The property was 84 percent leased at the time of sale, with more than half of the property coming to term within the next five years. Patrick Gildea, Bryan Crutcher and Anne Johnson of CBRE’s national partners team represented the seller in the transaction. Jeffrey Dunne of CBRE’s New York institutional properties team represented the buyer, an entity controlled by Hartz Mountain Industries, which has retained Jim Gunning and Donna Falzarano of CBRE’s capital markets debt & structured finance team to secure financing for the asset.
MIAMI — Meridian Capital has arranged an $11 million loan to refinance Village Portico, a 28,700-square-foot retail center located at 201-299 S.W. Eighth St. in Miami’s Brickell neighborhood. The property is anchored by a CVS/pharmacy, McDonald’s and Subway and is zoned for an additional 600,000 square feet of air rights. Eric Trombly of Meridian Capital’s Boca Raton, Fla., office arranged the seven-year loan through a regional balance sheet lender. The financing features a fixed interest rate and flexible prepayment terms.