NEW HYDE PARK, N.Y. — NorthMarq Capital has arranged $10 million in refinancing for X-Cell Realty, an office property located at 3333 New Hyde Park Road in New Hyde Park. The property features 166,931 square feet of office space. The loan features a fully amortizing 20-year term. Ernest DesRochers and Charles Cotsalas of NorthMarq arranged the financing through NorthMarq’s relationship with a correspondent life insurance company for the undisclosed borrower.
WEST HARTFORD, CONN. — Marcus & Millichap has arranged the sale of two apartment properties — Park Place West and West Wynd — in West Hartford for $9.4 million. Park Place West, located at 158 Newington, features 63 units in a mix of studios, one-, two- and three-bedroom layouts, and West Wynd, located at 51 Caya Ave., features 49 one- and two-bedroom flats. Victor Nolleti, Eric Pentore and Steve Witten of Marcus & Millichap represented the seller, a limited liability company, in the transaction.
ST. ABANS, VT. — Nedde Real Estate has arranged the sale of a retail property located at 8 N. Main St. in St. Abans. Doug Nedde and Grant Butterfield from Nedde Real Estate and Alain Youkel of Youkel Architecture + Development have acquired a 22,000-square-foot historic TD Bank building for an undisclosed price. TD Bank will continue to operate from the first floor, while the second, third and fourth floors will be converted into market-rate apartments.
AUSTIN and DALLAS, TEXAS — Grandbridge Real Estate Capital has closed a $67.6 million refinancing loan secured by 947 units in three multifamily properties: Camden Amber Oaks I and II in Austin and Camden Design District in Dallas. The initial funding is part of a Fannie Mae master credit facility agreement for Camden Multifamily Value Add Fund LP, an affiliate of Camden Property Trust. The Fannie Mae master credit facility, arranged by Grandbridge’s Houston-based senior vice president Greg Young, could refinance up to $275 million of the value add fund’s outstanding debt. Funding for the $67.6 million non-recourse loan was arranged through Fannie Mae’s structured adjustable rate mortgage loan product and features interest-only payments during the 10-year term.
FORT WORTH, TEXAS — Sealy & Co. has acquired Carter Distribution Center, a 615,005-square-foot, Class A warehouse facility situated on more than 27 acres at 6601 Oak Grove Road in Fort Worth. The acquisition was made on behalf of Sealy Strategic Equity Partners (SSEP). Carter Distribution Center was built in 2008 and features 32-foot clear heights, 89 trailer parking spaces and an ESFR sprinkler system. The property is rail served on the north side by the Union Pacific Rail line via the Fort Worth Western Rail Road. The asset is also located near the intersection of I-35 and I-20.
HUNTSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Huntsville Crossing Shopping Center, a 23,760-square-foot retail property located in Huntsville. Glen Kunofsky, Russell Wachtler and Jerry Goldstein of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. A California buyer purchased the shopping center utilizing a 1031 tax-deferred exchange. Tenants include Buffalo Wild Wings, Chipotle Mexican Grill, Mattress One and Spec’s Liquor.
SAN ANTONIO — Oldham Goodwin has opened a new office in San Antonio. This marks the second office expansion in the company’s history. Steve Monroe will be leading the brokerage efforts for Oldham Goodwin Group’s San Antonio office. Steve’s responsibilities include managing the brokerage division of the new office, as well as growing the San Antonio/South Texas office in terms of personnel and property listings for sales, leasing and property management. Steve boasts more than 25 years in the commercial real estate industry. Most of that time was spent with CBRE, where he served as an investment properties specialist and as a managing director responsible for company operations in New Mexico and California. Oldham Goodwin’s new office is located at 1100 N.W. Loop 410, Suite 700. The new office will offer the same services as the corporate headquarters located in Bryan. Services offered will include brokerage, development, management and investment services.
THE WOODLANDS, TEXAS — David Alexander of Newcor Commercial Real Estate has represented Gus Kaiser in the purchase of 5.8 acres at 33127 Lois Lane and FM 1488 in The Woodlands. Scott Furches of RE/Max Hometown represented the seller, DRD Limestone LLC.
LANTANA, FLA. — Bridgewater Lake Osborne LLC, an entity owned by Index Investment Group and Eastwind Development, has sold Bridgewater at Lake Osborne, a 108-unit apartment community in Lantanta. BLO Investors LLC purchased the asset for $24 million. Fronting Lake Osborne on a 9.6-acre lot, the apartment community was delivered in May 2014. The community features two- and three-bedroom units with rents starting at $1,579. The property features a boat ramp, resort-style pool, sunset pavilion and a children’s playground.
LOUISVILLE, KY. — Brown-Forman Corp., a Louisville-based spirits and wine company, has released 11 new renderings that detail its design for the new Old Forester Distillery, a 60,000-square-foot bourbon distilling operation and visitor experience located at 117 and 119 Main St. along Louisville’s historic “Whiskey Row.” Brown-Forman expects to produce 100,000 cases of Old Forester, a 146-year-old bourbon brand, annually at the new operation. Old Forester Distillery is scheduled to be complete by late 2017.
