Wednesday, April 8, 2026
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CaliforniaLoansOfficeWestern

Ready Capital Provides $6.1M Loan to Acquire Office Property in Los Angeles

by Nellie Day

LOS ANGELES – Ready Capital has provided a $6.1 million loan for a 16,000-square-foot office property in Los Angeles. The property is located at 515 Shatto Place in the Koreatown neighborhood. The funds will be used to acquire, renovate and stabilize the property, which will be converted to creative office space. The loan features a two-year term with a one-year extension option. It also comes with a funding facility that can provide future capital expenses, tenant improvement and leasing commissions, with an advance of up to 75 percent loan-to-cost. The borrower was not named.

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CaliforniaMultifamilyWestern

Newark Family Trust II Acquires 10-Unit Apartment Building in San Diego for $5.5M

by Nellie Day

SAN DIEGO — Newkirk Family Trust II has acquired Ten on Columbia, a 10-unit apartment building in the San Diego submarket of Little Italy, for $5.5 million. The community is located at 2104 Columbia St. The loft-style property debuted this past October. It achieved full occupancy by December. Peter Scepanovic and Corey McHenry of Colliers International’s Multi-Family Advisory Group represented both the buyer and seller, BAIA Vista LLC, in this transaction.

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CaliforniaOfficeWestern

BH Properties Donates $500,000 to USC Price School of Public Policy

by Nellie Day

LOS ANGELES — BH Properties has donated $500,000 to the USC Price School of Public Policy in Los Angeles. The donation will help fund the school’s new Bachelor of Science in Real Estate Development degree. The gift will also help recruit real estate faculty, provide professional development opportunities for students to gain real-world experience in the industry and fund scholarships for the program’s most exceptional young students. This is the first gift pledged in support of the Bachelor of Science in Real Estate Development program. The Price School launched one of the nation’s first graduate degrees in real estate development with the establishment of the Dollinger Master of Real Estate Development program in 1986. USC’s Bachelor of Science in Real Estate Development launched this past fall. It is expected to accept up to 250 students per year.

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250-Market-St-Portsmouth-NH
HospitalityLoansNew HampshireNortheast

HFF Arranges $35.5M in Refinancing for 180-Room Hotel in New Hampshire

by Amy Works

PORTSMOUTH, N.H. — HFF has arranged $35.5 million in refinancing for Sheraton Portsmouth Harborside Hotel, a 180-room hotel located at 250 Market St. in Portsmouth. The borrower, Lodgesys, will use the loan proceeds to refinance existing debt on the property. The 10-year, fixed-rate loan was provided by Bank of America. The hotel features a two-level underground parking garage, 13,500 square feet of meeting space, a fitness center, indoor pool, sauna, Link@Sheraton Internet café and Two-Fifty Market, restaurant and lodge. Anthony Cutone of HFF secured the financing for the borrower.

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Affordable HousingMultifamilyNew YorkNortheast

Regan Development Completes 64-Unit Affordable Housing Community in Upstate New York

by Amy Works

PLATTSBURGH, N.Y. — Regan Development Corp. has completed Homesteads on Ampersand, a 64-unit affordable housing community located at 292 Rugar St. in Plattsburgh. The eco-friendly community features four two-story buildings featuring 24 one-bedroom, 20 two-bedroom and 20 three-bedroom units, as well as a community building. The property features on-site management, a laundry facility, community room, library and computer center, as well as 73 surface parking spaces. Additionally, units feature Energy Star appliances, carpet, air conditioning and storage. Irvine, Calif.-based WNC, a national investor in real estate and community development initiatives, provided $7.1 million in low-income housing tax credit equity for the new development, which was constructed in one year.

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157-E-55th-St-NYC
Mixed-UseMultifamilyNew YorkNortheastRestaurantRetail

Eastern Consolidated Arranges $10M Sale of Mixed-Use Property in NYC

by Amy Works

NEW YORK CITY — Eastern Consolidated has arranged the sale of a mixed-use building located at 157 E. 55th St. in New York’s Midtown East district. Goldie Moss Irrevocable Trust sold the 5,700-square-foot property to 157E55 Owner LLC for $10 million. The property features two vacant full-floor apartments on the top two levels and Darbar Grill, a popular restaurant, on the lower two levels. Additionally, the building features substantial air rights allowing for approximately 20,000 square feet of residential uses and 30,000 square feet of commercial or community facility space. Brian Ezratty and Scott Ellard of Eastern Consolidated represented the seller and procured the buyer in the sale.

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MultifamilyNew YorkNortheast

Marcus & Millichap Brokers $1.3M Sale of Apartment Building in Ridgewood, N.Y.

by Amy Works

RIDGEWOOD, N.Y. — Marcus & Millichap has arranged the sale of an apartment building located at 2048 Gates Ave. in Ridgewood. The six-unit rental property sold for $1.3 million. Shaun Riney, Thomas Shihadeh and George Koncilja of Marcus & Millichap’s Brooklyn office represented the seller, an individual/personal trust, and the buyer, a limited liability company, in the transaction. The property was fully occupied at the time of sale.

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170-Pond-View-Drive-Meriden-CT
ConnecticutIndustrialNortheast

Press/Cuozzo Commercial Negotiates $1.1M Sale of Industrial Building in Connecticut

by Amy Works

MERIDEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of an industrial building located at 170 Pond View Drive within Medway Business Park in Meriden. Aperture Optical Sciences acquired the 23,000-square-foot property for $1.1 million. Constructed in 1985, the property features 18,000 square feet of high-bay industrial space and 5,000 square feet of office and sales support space. Stephen Press and Ted Schaffer of Press/Cuozzo represented the undisclosed seller, while Kyle Roberts of CBRE/New England represented the buyer in the transaction.

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AlabamaFloridaLoansMississippiMultifamilySoutheast

CBRE Arranges Four Loans Totaling $67.3M for Multifamily Properties in the Southeast

by John Nelson

ORLANDO, FLA. — CBRE Capital Markets’ debt and structured finance team in Orlando has secured a total $67.3 million in permanent financing for four separate properties in Alabama, Mississippi and Florida. Glenn Housman of CBRE led the team that arranged the loans on behalf of four separate investment groups. The properties include the 321-unit Abbey at Riverchase in Hoover, Ala.; the 218-unit Arbor Landing on the River in Biloxi, Miss.; the 202-unit Redmont Gardens in Mountain Brook, Ala.; and the 135-unit Summer Glenn in Jacksonville, Fla. The financing includes a $25.3 million Fannie Mae loan that the borrower, Abbey Residential, will use to take out the construction/renovation loan for Abbey at Riverchase; a $22.2 million Fannie Mae loan that the borrower, Arbor Properties Inc., will use to take out the construction loan for Arbor Landing on the River; a $13.6 million Fannie Mae loan that the unnamed borrower will use to refinance debt on Redmont Gardens; and a $6.2 million CMBS loan that SMG Property Management Inc. will use to refinance a maturing Freddie Mac loan on Summer Glenn.

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Wedgewood West Business Park Frederick
IndustrialMarylandSoutheast

Matan Cos. Breaks Ground on 675,000 SF Industrial Park in Maryland

by John Nelson

FREDERICK, MD. — Matan Cos. has begun construction on Wedgewood West Business Park, a six-building, 675,000-square-foot industrial park in Frederick. The 30-foot clear warehouse facilities are situated at the corner of New Design Road and English Muffin Way. Phase I of construction comprises Buildings B and F totaling 180,000 square feet. Matan expects to complete Phase I in the summer of 2016 and deliver the remaining four facilities beginning in early 2017. M&T Bank provided construction financing for the development, and Morgan Keller is providing general contracting services.

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