HARTFORD, CONN. — Eastern Union Funding has arranged $4.5 million in acquisition financing on two neighboring multifamily properties in Hartford for borrower Aria Legacy Group, a privately held fully integrated real estate firm. The properties include a 70-unit building at 37 Charter Oak Place and a 10-unit building with two ground-floor retail spaces at 29 Charter Oak Ave. Joshua Novoseller and Adelle Ross of Eastern Union secured the loan through CBRE Capital Markets.
NEW YORK CITY — The Ministry of Foreign Affairs of the Czech Republic has selected Fradkin & McAlpin Architects, in collaboration with Czech firm A69 Architekti, to redesign the 35,000-square-foot Czech Mission to the United Nations, located at 1109 Madison Ave. in New York’s Carnegie Hill Historic District. The project will include a gut-renovation of the interior and the creation of new living spaces, offices and meeting space for the staff of the mission. Construction is slated to begin in the fall of 2017. The building was originally built in 1898 as luxury apartments and features a Beaux Arts exterior.
NEW YORK CITY — Ameriprise Financial Inc. has signed a full-floor lease for the 78th floor of One World Trade Center in Lower Manhattan. The company plans to move its New York-based executive office space from its current location to 37,704 square feet at One World Trade Center during the second quarter of 2017. Eric Engelhardt and Karen Kuznick provided in-house represented for the The Durst Organization, along with Tara Stacom, Justin Royce, Barry Zeller, Connor Daugstrup and Peter Trivelas of Cushman & Wakefield. Ameriprise was represented by Josh Kuriloff, Drew Braver and Frank Cento of Cushman & Wakefield. With this lease, the property is now 69 percent leased.
LEWISVILLE, TEXAS — Bright Realty has brokered the sale of 1.5 acres of land in the Castle Hills area of Lewisville near State Highway 121. The site, owned by SEC JWH LLC, is located on the southeast corner of Josey Lane and Windhaven Parkway and will be used for a car wash. The corner will be anchored by an ALDI grocery store and is adjacent to the Target-anchored Lewisville Towne Centre, Kroger-anchored Castle Hills Marketplace and The Realm, a 1.5 million square-foot mixed-use Bright Realty development under construction. Bright Realty’s Timothy McNutt, Britton Lankford and Mason Bakken represented the seller in the transaction. Ruben Reynoso and Josh Brian with Tenant Real Estate Advisors represented the buyer, NLKH Ventures Corp.
SUGAR LAND, TEXAS — Transwestern has represented Thirteen Eldridge Ltd. in the sale of a six-acre tract in Sugar Land. The unnamed buyer plans to develop the land into a school. Transwestern’s Carlos Bujosa and David Schwarz brokered the transaction. The site is located on the east line of Eldridge Road, a half-mile south of West Airport Boulevard.
DALLAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $4.3 million loan for the cash-out refinance of Andora Apartments, a multifamily property located in Dallas. The loan features a 3.6 percent fixed interest rate for five years, 75 percent loan-to-value ratio, no pre-payment penalty and a 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.
PFLUGERVILLE, TEXAS — Castle Lanterra Properties (CLP) has acquired 1825 Apartments, a 455-unit multifamily community in the Austin suburb of Pflugerville. This is the third Austin-area acquisition for the New York-based firm. The community, named for State Route 1825 that fronts the property, consists of 60 buildings that were built in two phases. The 351-unit 1825 Place was completed in 2001, and the 104-unit 1825 Cottages was originally constructed in 1986. Community amenities include a pool with a waterfall, fitness center, business center with Wi-Fi access, outdoor playground, pet park, carports, attached and detached garages and a recently renovated clubhouse.
HOUSTON — Mary Quinn Law Firm has leased a newly renovated office building located at 106 Avondale St. in Houston. Originally built in 1910, the property is located in the Montrose area of Houston and spans 4,880 square feet. Ron McWherter of CBRE represented the tenant, and Ryan Neyland of Davis Commercial Real Estate represented the landlord, Toomey-Guseman Ltd.
LOUISVILLE, KY. — Marcus & Millichap has brokered the $41.9 million sale of a newly built, 303,369-square-foot FedEx industrial facility in Louisville. Built in 2015, the asset is located on a 46-acre lot within the 600-acre Blankenbaker Station Business Park near the convergence of I-64 and I-265. FedEx has a 15-year initial base lease that began when the project was delivered. Seth Richard of Marcus & Millichap’s Manhattan office and Laurie Ann Drinkwater of the firm’s Boston office represented the buyer, a national net-lease investor that has purchased several properties leased to FedEx. Stan Johnson Co. represented the seller, a developer, in the transaction. Aaron Johnson is Marcus & Millichap’s broker of record in Kentucky.
CHARLOTTESVILLE, VA. — Charlotte-based Insite Properties plans to develop a 120,000-square-foot office building above a 200-space parking garage at 323 Second St. S.E. in historic Charlottesville. Charlotte-based BB+M Architecture designed the nine-story property, which will feature four levels of parking and five levels of office space. The asset will be located within two blocks of the Downtown Mall. Insite Properties has named John Pritzlaff of Cushman & Wakefield the leasing representative for the office building.
