HOUSTON — Davis Commercial Real Estate has arranged the sale of a 15-unit apartment complex located at 226 W. Canino Road in Houston. Paul Wallace of Carrington Real Estate Services represented the buyer, Gallardo Group, in the transaction, while Ashley Casterlin of Davis Commercial represented the seller, Canino Apartments LLC.
HOUSTON — BMC Capital has provided an $8 million cash-out refinancing loan for an apartment property in Houston. The 10-year loan includes a fixed 4.3 percent interest rate and a 30-year amortization schedule.
LOS ANGELES — California Realty Group has arranged the lease of 6,756 square feet of retail space at 5100 Wilshire Blvd. in the Hancock Park neighborhood of Los Angeles. Automobile Club of Southern California signed a 10-year deal for the space located within The Mansfield mixed-use project. The new location is slated to open in third quarter 2017. Keith Kleinman and Mark Esses of California Realty Group represented the tenant, while Tim Bower and Gabrielle Lardiere of CBRE represented the undisclosed landlord in the transaction.
WORCESTER, MASS. — Owner/developer 150 Blackstone River Road LLC has selected Senate Construction Corp. to build a 615,600-square-foot distribution center in Worcester. Located at 150 Blackstone River Road within the Quinsigamond Village area, the multi-use high-bay industrial building is slated for occupancy by year’s end. Imperial Distributors Inc. will occupy 325,000 square feet of the new facility. The redevelopment project will receive $5.4 million in tax breaks from the city over a 15-year period.
NEW YORK CITY — Eastern Consolidated has arranged a $25 million inventory loan for The Calyx, a newly constructed condominium tower located at 189 Avenue C in Manhattan’s East Village neighborhood. OTL Enterprises LLC plans to use the loan, which was provided by RCG Longview, as bridge financing while the remaining condos sell. The 10-story, 31,872-square-foot building features 35 residential units, as well as commercial and community facility space. In a mix of studio, one- and two-bedroom layouts, the condos feature hardwood flooring, stainless steel kitchen appliances and in-unit washers/dryers. Adam Hakim and Sam Zabala of Eastern Consolidated handled the transaction.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a 10.5-acre waterfront development site located at 1110 Oak Point Ave. in the Hunt’s Point neighborhood of the Bronx. The asset sold for $24 million. The L-shaped irregular lot offers 874,685 square feet of buildable square footage and 1,000 feet of frontage along the East River. The site currently features a 68,787-square-foot building, which was vacant at the time of sale. The site is within a M3-1 zoning district, which allows for heavy industrial uses. James Nelson, Nick Burns and Ben Fox of Cushman & Wakefield represented the seller, while Tom Cisco of Feinberg Bros Agency represented the buyer in the all-cash transaction. The names of the seller and buyer were not released.
BOSTON — Chevron Partners has acquired the Sears Crescent building, located at 38-68 Cornhill in Boston. Copley Investments sold the historic property for $23.8 million. Located in Boston’s Government Center neighborhood, the 50,300-square-foot office building is 100 percent leased to 14 tenants and offers street-level retail space. Robert Griffin, Edward Maher, Matthew Pullen and Justin Smith of Newmark Grubb Knight Frank represented the seller in the transaction.
CARENCRO, LA. — Stirling Properties has brokered the sale of a 16.1-acre lot of land located at 3810 N.E. Evangeline Thruway in Carencro near the intersection of I-10 and I-49. The buyer, Wal-Mart Real Estate Business Trust, has begun to build a new 182,000-square-foot Walmart Supercenter at the site. The new store, which is set to open in early 2017, is expected to create 300 jobs. Seth Citron and Ryan Pecot of Stirling Properties brokered the land deal.
MIAMI — Swire Properties Inc. and its retail co-developers Whitman Family Development and Simon Property Group have inked a lease for a 38,000-square-foot Italian indoor food hall concept at Brickell City Centre in Miami’s Brickell district. The three-level dining space and market will anchor the 500,000-square-foot open-air shopping center at the 5.4 million-square-foot development. The food hall will offer several eateries, market fare such as produce and artisanal cheeses, gifts, live cooking demonstrations, cooking classes with Italian chefs and educational programming on wine pairings and other topics. Other dining and entertainment retailers already signed on at Brickell City Centre include Cinemex, Pubbelly Sushi, Pasion del Cielo, Quinto La Huella and Sugar, a rooftop bar that will be situated at the Brickell City Centre’s upscale hotel — EAST, Miami.
JACKSONVILLE, FLA. — Equicap, a real estate investment advisory firm based in New York, has arranged an $18 million acquisition loan for a 155,899-square-foot shopping center in Jacksonville. The center’s tenant roster includes Publix, H&R Block and Planet Fitness. Daniel Hilpert of Equicap arranged the seven-year, non-recourse loan with a fixed 3.54 percent interest rate through an unnamed regional lender.