Property Type

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

Multifamily New York Northeast

SGW Properties Completes $10M in Capital Improvements on Nine Brooklyn Properties

by Amy Works January 18, 2016

NEW YORK CITY — New York City-based SGW Properties has completed in excess of $10 million in capital improvements to nine multifamily properties in the East Flatbush and Crown Heights neighborhoods of Brooklyn. The capital improvement program included renovation and upgrades to roofs, sidewalks, brickwork, windows, boilers, lighting, intercom systems and plumbing.

January 18, 2016

Mixed-Use Multifamily New York Northeast Office

Cushman & Wakefield Arranges $2.5M Sale of Mixed-Use Property in Brooklyn

by Amy Works January 18, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use property located at 199 Malcolm X Blvd. in Brooklyn’s Bedford-Stuyvesant neighborhood. The asset sold for $2.5 million, or $534 per square foot, in an all-cash transaction. The 4,836-square-foot, three-story building features five three-bedroom apartments and two retail units. Michael Amirkhanian of Cushman & Wakefield represented the undisclosed seller in the transaction. The name of the buyer was not released.

January 18, 2016

Georgia Healthcare Southeast

Batson-Cook Tops Out $195M Northside Hospital Cherokee in Metro Atlanta

by John Nelson January 18, 2016

CANTON, GA. — Batson-Cook Construction has topped out the $195 million Northside Hospital Cherokee project in Canton, a northern suburb of Atlanta in Cherokee County. The 525,000-square-foot hospital will replace Northside’s existing 200,000-square-foot, 96-bed hospital on Hospital Road. Since breaking ground in early 2013, the construction project has encompassed 508 tons of steel and 700,000 cubic feet of concrete. Batson-Cook and the joint venture architectural firms of HRD/HDR worked with Northside Hospital for more than two years during the pre-construction phase of the project. Batson-Cook plans to deliver the replacement hospital in January 2017. The Northside Hospital healthcare system is an 838-bed, not-for-profit healthcare provider with more than 120 locations across metro Atlanta, including three acute care hospitals in Fulton, Cherokee and Forsyth counties.

January 18, 2016

Georgia Office Southeast

IPA Arranges $15M Sale of Office Building in Alpharetta

by John Nelson January 18, 2016

ALPHARETTA, GA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $15 million sale of Woodside Terrace, a 123,672-square-foot, Class A office building located at 3755 Mansell Road in Alpharetta, a northern suburb of Atlanta. Ravi Zacharias International Ministries purchased the office building from the undisclosed seller. Built in 1998, Woodside Terrace is a five-story, midrise office property that features masonic construction, two atriums, ribbon windows, a parking field, café, lakeside patio area and a fitness center. Bob Johnson, Gary Lee, Paul Johnson and Korey Prefontaine of IPA represented the buyer and procured the seller.

January 18, 2016

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