Property Type

Integra Meadows at ChampionsGate Davenport

DAVENPORT, FLA. — Grandbridge Real Estate Capital has closed a $29.5 million acquisition loan for Integra Meadows at ChampionsGate, an apartment community within ChampionsGate, a premier golf course resort in Davenport. The property is within 15 minutes from the Walt Disney World Resort and Celebration, a master-planned community originally developed by The Walt Disney Co. Taylor Williams and Purvesh Gosalia of Grandbridge originated the fixed-rate, non-recourse loan through BB&T Real Estate Funding.

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Pelham Place Greer South Carolina

GREER, S.C. — Avison Young has brokered the $5.8 million sale of Pelham Place, a 57,158-square-foot shopping center located at 3093 S. Highway 14 in Greer. Built in 2007, the shopping center was 94 percent leased at the time of sale, but the 38,003-square-foot anchor space is currently vacant. Realop Investments LLC purchased the grocery-anchored asset from Torchlight Investors. Michael Fay led Avison Young’s team in representing the seller in the transaction. David Duckworth, AJ Belt III and John Odom of Avison Young assisted in the transaction.

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The Shoppes at Webb Gin Snellville Georgia

SNELLVILLE, GA. — Olshan Properties has inked leases with two national retailers at The Shoppes at Webb Gin, an open-air power retail center in Snellville, a northeast suburb of Atlanta. Located at the intersection of Scenic Highway 124 and Webb Gin House Road, The Shoppes at Webb Gin consists of 333,795 square feet of retail space with 17,212 square feet of office space and features additional development opportunities. Sprouts Farmers Market, Barnes & Noble and DSW anchor the retail center, which was formerly known as The Avenue Webb Gin. The two new tenants joining the shopping center are Orangetheory Fitness, a fitness studio, and Fuzzy’s Taco Shop, a taco eatery that will be located next to Pure Barre on the south side of the property.

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1407-Broadway-NYC

NEW YORK CITY — Shorenstein Properties has undertaken a $30 million renovation and enhancement program at 1407 Broadway, a 1.1 million-square-foot office/retail building in New York. Designed by Fogarty Finger, the capital improvement program will include a new lobby and building entrance, façade improvements, elevator cab upgrades and updated retail storefronts. Shorenstein acquired the property’s ground lease from Abraham Kamber Associates and the sublease from Lighthouse in April 2015 for $330 million. Shorenstein has retained CBRE as the exclusive office space leasing agent. SRS Real Estate Partners will lead all retail brokerage activity.

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Livingston-School-Apts-Albany-NY

ALBANY, N.Y. — Winn Companies, in partnership with Albany Housing Authority, has opened Livingston School Apartments in Albany after a $20.7 million adaptive reuse project. The company converted the four-story, 230,000-square-foot historic building into 103 units of mixed-income housing for seniors. The new property features 12 studio apartments, 76 one-bedroom apartments and 15 two-bedroom apartments. Eleven units are handicapped accessible and five are equipped for hearing or visually impaired residents. The Architectural Team served as architect and Keith Construction served as general contractor on the project, which was funded by federal and state low-income housing tax credits, and federal and state historic tax credits. Winn Companies includes Winn Development and Winn Residential. With the addition of Livingston School, Winn Residential now manages 9,200 apartments at 58 residential properties in New York State, as well as more than 4,000 homes for members of the U.S. Army at Fort Dunn.

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Liberty-Place-Quincy-MA

QUINCY, MASS. — CBRE/New England’s Multifamily Debt & Structured Finance group has arranged $14 million in construction financing for Liberty Place in Quincy. BP Liberty LLC, an affiliate of Boston Property Development, is developing a 53-unit apartment community, which has already broken ground. Located at 999 Hancock St., the property will feature 67 garage parking spaces, a fitness center, a 2,000-square-foot roof deck, a private function room and a patio/barbecue area overlooking a lawn and dog park. The residential units will feature stainless steel appliances, hardwood flooring, granite countertops, private balconies, in-unit washers and dryers, and oversized windows. John Kelly and Sam Dylan of CBRE/NE procured the financing for the borrower.

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Walgreens-Franklin-NJ

FRANKLIN, N.J. — Marcus & Millichap has brokered the sale of a recently constructed Walgreens property in Franklin. Located at 245 State Route 23, the 14,820-square-foot property sold for $9.1 million, or $617 per square foot. Dean Zang and Mark Taylor represented the seller, a limited liability company, while Karly Iacono, also of Marcus & Millichap, represented the buyer, a Brooklyn-based private investor, who acquired the property in a 1031 exchange. J.D. Parker of Marcus & Millichap’s Manhattan office served as the broker of record for the transaction.

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NEW YORK CITY — Strathspey Crown Holdings LLC has signed a 10-year lease to quadruple its space at 570 Lexington Avenue in New York City. The Newport Beach, Calif.-based firm will now occupy 16,000 square feet of office space at the landmark Art Deco building. Comprising the 27th, 28th and 35th floors, the new space will feature high-end finishes and an architecturally distinctive stairwell between the 27th and 28th floors. David Turino provided in-house representation for the property owner and manager, The Feil Organization, while Strathspey was represented in-house for the transaction.

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AVON, COLO. — Greystone has provided a $36 million CMBS loan for Chapel Square and Benchmark Shopping Center, two adjoining mixed-use properties comprising 200,000-square feet of retail and office space in the resort community of Avon. The property, located at the base of Beaver Creek ski resort, is currently 99.7 percent leased to 44 tenants. Ted Nasca of Greystone originated the 10-year loan with interest-only payments for the first three years and a 30-year amortization schedule.

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ASHLAND, ORE. — An undisclosed buyer has purchased Skylark Assisted Living, a 75-unit assisted living and 34-bed memory care facility in Ashland, for $10.8 million. Skylark Assisted Living, located within the Mountain Meadows age-restricted community, opened in 1997. Skylark was 90 percent occupied at the time of the sale. Dan Mahoney and Tony Cassie, directors of Marcus & Millichap’s National Seniors Housing Group in Portland, represented the sellers and procured the buyer in this transaction.

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