Property Type

William A. Randolph Breaks Ground on 100-Unit Seniors Housing Community in Chicago Suburb

by Christina Cannon January 18, 2016

LONG GROVE, ILL. — William A. Randolph Inc. has broken ground on Long Grove Senior Care, a project in Long Grove, approximately 35 miles northwest of Chicago. GART Partners selected William A. Randolph Inc. to serve as the general contractor for the two-story, 100-unit senior living community, which includes assisted living and memory care. The project will be situated on 10 acres and will feature a bistro, a pub and billiards room, outdoor patios, walking paths, gardens, a theater and a greenhouse.

January 18, 2016

Industrial Midwest Ohio

NGKF Arranges 1 MSF Industrial Lease in Columbus Suburb

by Christina Cannon January 18, 2016

GROVEPORT, OHIO — Newmark Grubb Knight Frank (NGKF) has arranged a 1 million-square-foot lease for an industrial facility located in Groveport, a southeastern suburb of Columbus. Saddle Creek Logistics Services will occupy the newly completed building located at 6606 Pontius Road in February, which is inside the Groveport Industrial Park. Benton Benalcazar and Ladson Montgomery of NGKF represented Saddle Creek, which signed a long-term lease for the warehouse and distribution facility. The property features 36-foot clear heights, ample car and trailer parking, a cross-dock warehouse, 100 dock positions, fours drive-in doors and an ESFR sprinkler system. The lease also features a 15-year, 100 percent real estate tax abatement.

January 18, 2016

Colorado Multifamily Seniors Housing Western

Arcapita, MorningStar Acquire Three Seniors Housing Communities in Colorado for $85M

by Nellie Day January 18, 2016

DENVER and COLORADO SPRINGS, COLO. — A joint venture of Arcapita, a global investment management firm, and MorningStar Senior Living, an owner/operator based in Denver, has acquired a three-community seniors housing portfolio in Denver and Colorado Springs for $85 million. The portfolio totals 196 units of assisted living and memory care. The communities were built in 2013 and 2014. The names of the communities were not disclosed. MorningStar will operate the communities. Arcapita, which is based in the small middle-eastern island country of Bahrain, plans on many more U.S. seniors housing acquisitions in the near future. The investment firm previously acquired, managed and sold a $1.5 billion seniors housing portfolio in the U.S. and U.K. Colorado was specifically targeted because its seniors population is projected to grow at twice the national average over the next five years, according to Martin Tan, Arcapita’s chief investment officer.

January 18, 2016

California Retail Western

The Khoshbin Company Buys Three Newport Beach Properties for $28.9M

by Nellie Day January 18, 2016

NEWPORT BEACH, CALIF. — Irvine, Calif.-based The Khoshbin Company has acquired three retail properties in Newport Beach from GP’s Landing LLC for $28.9 million. Located at 2751 and 2801 Coast Highway and 2620 Avon St., the properties consist of 29,341 square feet, a marina and include two well-known landmarks — Billy’s at the Beach and The Ritz restaurant, formerly The Chart House. Alton Burgess and Travis Haining of Lee & Associates Newport Beach represented the buyer, while Brian Barson of Lee Newport Beach represented the seller in the transaction.

January 18, 2016

California Loans Multifamily Seniors Housing Western

CBRE Provides $32.3M Fannie Mae Loan for Seniors Housing Community in Chico

by Nellie Day January 18, 2016

CHICO, CALIF. — CBRE Multifamily Capital has originated a $32.3 million loan for The Terraces Senior Living, a 138-unit independent living and assisted living community in Chico, approximately 90 miles north of Sacramento. The community is part of a master planned age-restricted community. The borrower, California-based owner/operator Westmont Living, will use the money to convert assisted living units into memory care units. The non-recourse, 10-year, fixed-rate loan includes four and a half years of interest-only payments. CBRE secured the loan through its Fannie Mae program. Andrew Behrens, vice chairman of CBRE Multifamily Institutional Group, and Aron Will, executive vice president of CBRE National Senior Housing, arranged the loan.

January 18, 2016

California Retail Western

Strategic Retail Advisors Negotiates $8M Acquisition of 104,423 SF Retail Property in California

by Nellie Day January 18, 2016

LA HABRA, CALIF. — Strategic Retail Advisors has negotiated the $8 million acquisition of Northgate González Markets at La Habra Towne Centre in La Habra. Situated on 9.2 acres, the 104,423-square-foot property is occupied by CVS/pharmacy, Petco and Jack in the Box. Nelson Wheeler and Blaine Bush of Strategic Retail Advisors represented the buyer, Northgate González Markets, while Jones Lang LaSalle represented the undisclosed seller.

January 18, 2016

Colorado Retail Western

Village at the Peaks in Colorado Adds Four New Retailers

by Nellie Day January 18, 2016

LONGMONT, COLO. — Village at the Peaks, a national parks-themed shopping center located on the grounds of the former Twin Peaks Mall in Longmont, has added four new tenants. Newly signed retailers include Boulder, Colorado-based Ozo Coffee Co., Mathnasium, The Sleep Number and Brain Balance Achievement Center. The property is currently over 85 percent leased to a total of 29 retailers including Whole Foods Market, Sam’s Club and Regal Cinemas.

January 18, 2016

Multifamily New York Northeast

Forest City Realty Trust Sells Development Site in Brooklyn for $158M

by Amy Works January 18, 2016

NEW YORK CITY — Forest City Realty Trust has completed the disposition of a development site located at 625 Fulton St. in Brooklyn. Brooklyn-based Rabsky Group acquired the unencumbered site for $158 million, or approximately $255 per square foot. Forest City originally purchased the property in 1989, and the company demolished the existing 359,000-square-foot office building on the site, with plans to develop a residential tower. Rabsky Group has approximately 1,850 units in the pipeline in Brooklyn and 400 more planned in Queens. The company’s two largest current projects are a 398-unit rental building at 10 Montieth St. and a 777-unit rental property at 249 and 334 Wallabout St. in Brooklyn.

January 18, 2016

Maryland Massachusetts New York Northeast Retail Virginia

Federal Realty Acquires Six Shopping Centers from JV Partner

by Amy Works January 18, 2016

BOSTON AND NEW YORK CITY — Rockville, Md.-based Federal Realty Investment Trust has acquired the 70 percent interest owned by affiliates of a discretionary funded advised by ING Clarion Partners in a joint venture that owns six shopping centers. The purchase price was approximately $154 million, consisting of $130 million of cash and assumption of the allocable share of mortgage debt. The properties include Atlantic Plaza and Campus Plaza near Boston; Greenlawn Plaza on Long Island; Free State Shopping Center and Plaza del Marcado in suburban Maryland; and Barcroft Plaza in Northern Virginia. With this acquisition, Federal Realty has successfully concluded the the venture that was formed in 2004 and increased its ownership of the 820,000-square-foot portfolio from 30 percent to 100 percent.

January 18, 2016

Loans Mixed-Use New York Northeast Office Retail

HFF Secures $13.6M Acquisition Loan for Tribeca Mixed-Use Property

by Amy Works January 18, 2016

NEW YORK CITY — HFF has secured $13.6 million in acquisition bridge financing for a 17,615-square-foot mixed-use property located at 315 Broadway in Manhattan’s Tribeca neighborhood. The borrower, United American Land, plans to used the loan to reposition the property into a boutique office building with high-quality retail space on the ground floor. The five-story loft property has 13,900 square feet of office space, 3,715 square feet of ground-floor retail space and approximately 23,401 square feet square feet of unused air rights. Steven Klein and Geoff Goldstein of HFF arranged the four-year, floating-rate loan through Peoples United Bank.

January 18, 2016

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