Property Type

American Street Capital Arranges $4M in Financing for 81-Unit Multifamily Property in Chicago Suburb

by Christina Cannon March 4, 2016

OAK LAWN, ILL. — American Street Capital has arranged a $4 million acquisition loan for an 81-unit apartment property in Oak Lawn, approximately 16 miles southwest of Chicago. The three-building property, Oak Lawn Gardens, was constructed in 1963 and is 97 percent occupied. The asset features on-site laundry facilities and 67 parking spaces. The non-recourse loan features a 10-year fixed rate and 25-year amortization schedule. The financing was placed with a CMBS lender. Igor Zhizhin of American Street Capital arranged the financing.

March 4, 2016

Colorado Multifamily Western

Carrick Bend Apartments Near Denver Trades for $47.8M

by Nellie Day March 4, 2016

NORTHGLENN, COLO. — Starlight Investments Acquisition has purchased the 228-unit Carrick Bend apartments for $47.8 million. The community is located at 11525 Community Center Drive, just north of Denver. It was built in 2014. CBRE’s Dave Potarf, Dan Woodward and Matt Barnett represented the seller, Keller Holland Northglenn Investors, in this transaction.

March 4, 2016

Nevada Retail Western

Shopoff Realty Acquires Iron Horse Shopping Center in Suburban Reno

by Nellie Day March 4, 2016

SPARKS, NEV. — Shopoff Realty Investments has acquired Iron Horse Shopping Center, a 186,000-square-foot retail center located in the Reno suburb of Sparks, for an undisclosed sum. Shopoff has committed more than $1 million for improvements to the property. The retail center was 33 percent occupied at the time of sale by tenants including Dollar General, Subway, Payless Shoes, Sizzler, Jack in the Box and El Pollo Loco. The center is anchored by a Save-Mart, which was not included in the purchase.

March 4, 2016

California Office Western

Telenav Relocates Office Space from Sunnyvale to Santa Clara

by Nellie Day March 4, 2016

SANTA CLARA, CALIF. — Telenav has relocated its office space from Sunnyvale to Santa Clara. The wireless, location-based services company has sublet 54,635 square feet from Avaya. It signed a five-year lease that will commence April 1. The new space is located at 4655 Great America Parkway. It is situated within a 318,000-square-foot, Class A office building that sits adjacent to the new Levi’s Stadium. Doug Sugimoto and Scott Dever of Cushman & Wakefield represented Avaya, a global provider of business collaboration and communications solutions.

March 4, 2016

Industrial Washington Western

CenterPoint Buys Distribution Facility in Auburn, Wash.

by Nellie Day March 4, 2016

AUBURN, WASH. — CenterPoint Properties has acquired a 152,155-square-foot distribution facility in Auburn for an undisclosed sum. The facility is located at 3702 C St. NE. It will be leased to FedEx Ground and will serve as one of the firm’s primary Western Washington distribution and sorting facilities. Matt Wood, Andy Miller and Todd Battison of Kidder Mathews represented both CenterPoint and the unnamed seller in this transaction.

March 4, 2016

Colorado Office Western

Computer Science Corp. Leases Space at Platte Airpark Center in Colorado Springs

by Nellie Day March 4, 2016

COLORADO SPRINGS, COLO. — Computer Science Corp. has signed a five-year lease for 4,948 square feet of space at Platte Airpark Center in Colorado Springs. The 137,900-square-foot, Class A office complex is located at 320-480 N. Wooten Road. The center is now 95 percent leased. CBRE’s Brad Bird, Martin Johnson and Jared May serve as the center’s leasing agents. The landlord is Fairbridge Properties.

March 4, 2016

Multifamily New York Northeast

Greystar Equity Partners VIII Acquires Two NYC Multifamily Properties Totaling $336.3M

by Amy Works March 4, 2016

NEW YORK CITY — Greystar Equity Partners VIII has completed the acquisitions of two multifamily properties in New York City for an aggregate purchase price of $336.3 million. The two transactions mark the full investment of Greystar Equity Partners VIII LP, an $800 million vehicle that is part of Greystar Real Estate Partners’ flagship value-add series. In the first transaction, Greystar acquired The Chelsea, a 204-unit multifamily property located at 160 W. 24th St. in Manhattan’s Chelsea neighborhood, for $211.3 million. The Chelsea features a variety of floor plans, a 5,200-square-foot parking garage, 11,000 square feet of prime retail space on the ground floor, a fitness center, media room, two rooftop decks and a resident lounge. In the second deal, Greystar purchased a 169-unit multifamily property comprising two buildings located at 247 N. 7th St. and 248 N. 8th St. in Brooklyn’s Williamsburg neighborhood for $125 million. The property features an 85-space parking garage, two rooftop decks, a fitness center and resident lounge. Greystar will serve as property manager for both multifamily properties.

March 4, 2016

Healthcare Loans New York Northeast Office

NorthMarq Capital Arranges $15M Refinance for Medical Office Building in New York

by Amy Works March 4, 2016

RYE, N.Y. — NorthMarq Capital has arranged $15 million in refinancing for a medical office building located at One Theall Road in Rye. Net leased to Westmed Medical Group, the 65,000-square-foot building features an on-site urgent care unit, an ambulatory surgery suite, a pharmacy and a tomography unit. Robert Ranieri of NorthMarq secured the 10-year loan for the undisclosed borrowers, which were represented by Jesse Krasnow and Mark Cohen of Riverbed Realty Advisors in the transaction.

March 4, 2016

Massachusetts Northeast Office

Colliers Negotiates Acquisition of 22,388 SF Office Property in Massachusetts

by Amy Works March 4, 2016

DEDHAM, MASS. — Colliers International has arranged the acquisition of an office building located at 910 Washington St. in Dedham. Whelan Associates purchased the 22,388-square-foot property from Middlesex Savings Bank for an undisclosed price. Additionally, Colliers brokered the building’s lease by Greater Boston Urology. Steven Woelfel, David Goodhue and Caleb Hudak of Colliers represented the buyer and tenant in the transactions. Garry Holmes and Dean Blackey of R.W. Holmes represented the seller in the deal.

March 4, 2016

Mixed-Use Multifamily New York Northeast Office Retail

Ariel Property Advisors Brokers $3M Sale of Central Harlem Mixed-Use Property

by Amy Works March 4, 2016

NEW YORK CITY — Ariel Property Advisors has arranged the sale of a mixed-use property located at 273 Lenox Ave. in Central Harlem. The four-story building sold for $3 million, or $811 per square foot. The approximately 3,699-square-foot property features two residential units and two commercial spaces. Jesse Deutch, Victor Sozio, Josh Berkowitz, Matthew Gillis and Josh Kwilecki of Ariel Property Advisors represented the seller, a private investor, while POG Real Estate Inc. procured the buyer, a private investor, in the deal.

March 4, 2016

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