Property Type

Federal Capital Partners Provides $14.5M in Construction Financing for 33-Unit Luxury Condos in Boston

by Amy Works November 11, 2015

BOSTON — Federal Capital Partners has provided a $14.5 million senior construction loan for the development of a condominium project located at 170 W. Broadway in South Boston. The loan was funded in partnership with Boston-based The Grossman Companies. KEM Development Co. is developing the project, which will feature 33 one- and two-bedroom luxury condos, including eight penthouses with rooftop decks, below-grade garage parking and 5,000 square feet of ground-floor retail space. Construction began in August and delivery is slated for fourth quarter 2016.

November 11, 2015

Mixed-Use Multifamily New York Northeast Retail

Silvershore Properties Acquires Mixed-Use Property in Queens for $10.6M

by Amy Works November 11, 2015

NEW YORK CITY — Silvershore Properties has acquired a mixed-use building located at 1071 Cypress Ave. in the Ridgewood neighborhood of Queens for $10.6 million. The 33,500-square-foot property features 39 rent-stabilized residential apartments and five mom-and-pop stores, totaling 5,000 square feet. Cypress Realty LCC sold the property, which it originally purchased in 1986. No brokers were involved in the transaction.

November 11, 2015

New Hampshire Northeast Office

NAI Norwood Group Brokers $3.5M Acquisition of Office Property in New Hampshire

by Amy Works November 11, 2015

MERRIMACK, N.H. — NAI Norwood Group has arranged the acquisition of an office building located at 237 Daniel Webster Highway in Merrimack. Shellback Harbor LLC purchased the property from C&I Investment Associates for $3.5 million. Situated on 9.5 acres, the 68,870-square-foot property was formerly home to Fairpoint Communications. Shellback Harbor, dba BES&T Global Commissioning, will use the property as its world headquarters. Aron Brown of NAI Norwood Group represented the buyer, while Norton Asset Management represented the seller in the transaction.

November 11, 2015

Connecticut Northeast Office

O,R&L Commercial Negotiates $2.6M Sale of Office Building, Parking Lot in Connecticut

by Amy Works November 11, 2015

NEW HAVEN, CONN. — O,R&L Commercial LLC has negotiated the sale of an office building and adjacent parking lot, located at 189-191, 201 Orange St. and 115 Court St. in New Haven. The investment properties sold for $2.6 million. Frank Hird of O,R&L Commercial represented the seller, O’Keefe Associates, Manhattan Associates and Euclid/O’Connor Associates, while Charlotte Goldblatt of Goldblatt Associates represented the buyer, Bulkhead Investments LLC.

November 11, 2015

Regal Entertainment Group Knoxville One Riverwalk

Office Southeast Tennessee

Southeastern Development Relocates Regal’s Headquarters to Knoxville

by John Nelson November 11, 2015

KNOXVILLE, TENN. — Southeastern Development Associates has signed Regal Entertainment Group to a lease that relocates its world corporate headquarters to downtown Knoxville. The company is the world’s largest theater chain with nearly 7,500 screens. Regal will occupy a nine-story, 178,000-square-foot office building located on the Tennessee River in Southeastern Development’s One Riverwalk mixed-use development. Upon completion, One Riverwalk will feature 300 luxury apartment communities, student housing, office space, a hotel, retail shopping, restaurants, a riverwalk esplanade, parks and an entertainment plaza. Regal is expected to bring approximately 400 employees with the relocation. Southeastern Development Associates, formerly known as Blanchard & Calhoun Commercial, partnered with Tennessee Governor Bill Haslam, the city of Knoxville, Knoxville Mayor Tim Burchett and the Tennessee Valley Authority. Tommy Saul, Rhodes Seeger and Chris Senn represented Southeastern Development Associates internally in the transaction.

November 11, 2015

Alabama Multifamily Southeast

Berkadia Brokers $29.2M Sale of Apartment Community in Birmingham

by John Nelson November 11, 2015

BIRMINGHAM, ALA. — Berkadia has brokered the $29.2 million sale of Stonecrest at Double Oak Mountain, a 315-unit apartment property located in Birmingham. Built in 1998, the garden-style community features two- and three-story buildings housing units that average 1,176 square feet. Atlanta-based Waypoint Residential purchased the property from Rodman Properties. David Oakley and Royce Emerson of Berkadia’s Alabama office represented the seller in the transaction.

November 11, 2015

Florida Retail Southeast

Auction.com Arranges $21.2M Sale of Retail Center in Orlando

by John Nelson November 11, 2015

ORLANDO, FLA. — Auction.com LLC has arranged the $21.2 million sale of Vista Centre Shoppes, a 98,411-square-foot retail center located at 8462 Palm Parkway in Orlando. The center is situated on a 13.9-acre site located down the street from Disney World. Built in 1989, the shopping center was 89.4 percent leased at the time of sale. A private buyer based in South Florida purchased the property from the Atlanta-based seller. Philip Kates, Adam Sklaver and Dean Lewis of Auction.com worked with Brad Peterson and Whitaker Leonhardt of HFF’s Orlando office to sell the property. Michael Lapointe and Adam Greenberg of Newmark Grubb Knight Frank represented the buyer.

November 11, 2015

Retail Southeast Tennessee

Matthews Retail Advisors Brokers Sale of Walmart in Knoxville

by John Nelson November 11, 2015

KNOXVILLE, TENN. — Matthews Retail Advisors has brokered the sale of a newly constructed, 119,378-square-foot Walmart in Knoxville. The trophy asset is located across the street from the University of Tennessee campus. The seller, CHM LLC, sold the asset for an undisclosed price in an off-market transaction. Aron Cline of Matthews Retail Advisors sourced the buyer and represented CHM in the transaction.

November 11, 2015

Illinois Midwest Multifamily

Steadfast Apartment REIT Acquires 374-Unit Apartment Complex in Chicago Suburb for $58.5M

by Christina Cannon November 11, 2015

BOLINGBROOK, ILL. — Steadfast Apartment REIT has acquired a 374-unit apartment community located in Bolingbrook, approximately 25 miles southwest of Chicago, for $58.5 million. A public, non-traded REIT, Steadfast purchased the property from Friedkin Real Estate and Jackson Square Properties. Meadows at River Run offers one-, two- and three-bedroom apartments ranging from 670 square feet to 1,262 square feet. The community was built in 2001, and unit amenities include washers and dryers, walk-in closets and fireplaces. Community amenities feature a swimming pool, fitness center, business center and pet park. The complex was 93 percent occupied at the time of sale. Steadfast plans to complete improvements including new lighting, plumbing, stainless steel appliances, faux wood blinds and upgraded countertops. Marty O’Connell of HFF represented the sellers in the transaction. Steadfast Apartment REIT was self-represented.

November 11, 2015

Florida Loans Retail Southeast

KeyBank Secures $11M CMBS Loan for Retail Center in Jacksonville

by John Nelson November 11, 2015

JACKSONVILLE, FLA. — KeyBank Real Estate Capital has secured an $11 million non-recourse, CMBS loan for University Center in Jacksonville. The 102,885-square-foot shopping center is fully leased to tenants such as LA Fitness, T.J. Maxx, Beall’s and Dollar Tree. Publix shadow anchors the center. Randy Martin of KeyBank secured the loan on behalf of the borrower.

November 11, 2015

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