BAYONNE, N.J. — Cushman & Wakefield has arranged $22 million in refinancing for SilkLofts, a multifamily property located at 154-157 Avenue E in Bayonne. The loan features a seven-year term at a 3.3 percent fixed rate, with a five-year extension option. Originally the Maidenform Brassiere factory, the property was converted into a multifamily development with five studio units, 26 two-bedroom units, 48 one-bedroom units and six private artist lofts. George Gnad of Cushman & Wakefield handled the transaction.
MALVERN, PA. — IMC Construction has completed a 45,000-square-foot headquarters building for ifm efector North America. Located at 1100 Atwater Drive with the Atwater Corporate Center in Malvern, the two-story facility features space for more than 175 employees, a fitness center, large cafeteria, training center, multiple conference rooms, an executive board room, 10-foot ceilings, large windows and an open floor plan. Essen, Germany-based ifm efector produces sensor and control products.
WATERTOWN, MASS. — Savills Studley National Retail Services Group has brokered the sale of a single-tenant retail property in Watertown. Boston-based Eastern Real Estate sold the 126,480-square-foot property to an affiliate of Inland Real Estate Acquisitions Inc. for an undisclosed price. Located at 615 Arsenal St., the property is occupied by The Home Depot, which has 17 years remaining on its triple-net lease. Kyle Miller and Bill Bauman represented the seller in the transaction.
NEW YORK CITY — Equicap has arranged $6.6 million in permanent financing for the refinance of a multifamily property located in Brooklyn’s Park Slope neighborhood. The non-recourse loan features a 10-year term with three years of interest-only payments and a 30-year amortization schedule at a 3.8 percent interest rate. The asset features 29 apartment units. Daniel Hilpert of Equicap negotiated the loan for the undisclosed borrower.
SANTA ROSA, Calif. — Greystone, a real estate lending, investment and advisory company, has provided a $58.3 million Freddie Mac loan to refinance Varenna at Fountaingrove, a 163-unit independent living facility in Santa Rosa, just north of San Francisco. Affiliates of Oakmont Senior Living own and operate the luxury community. The 10-year loan was funded via Freddie Mac’s Index Lock product, which enabled the borrower to take advantage of the existing 10-Year Treasury rate prior to commitment.
TEMPE, Ariz. — National Asset Services (NAS) has arranged the sale of Gateway at Tempe, a student housing property located approximately one mile east of Arizona State University in Tempe. An undisclosed buyer purchased Gateway from a group of 33 tenant-in-common (TIC) co-owners that NAS advised during the transaction process. Built in 1998, Gateway at Tempe was purchased by the TIC group in December 2006 for $55.8 million. NAS assumed asset management responsibilities for the property in 2010. Gateway at Tempe is one of the largest student housing properties in the Arizona State University area, with 918 beds and 288 units. Situated on approximately 19 acres, the garden-style student living community consists of 19 two- and three-story wood-frame residential buildings and a single-story clubhouse/leasing building. The residential buildings contain 289,704 square feet of net rentable area, which equates to an average unit size of 1,006 square feet. The apartment community features a swimming pool, basketball court, two lighted tennis courts, a fire pavilion and a lighted sand volleyball court.
CLAREMONT, CALIF. — NAI Capital has arranged the sale of a 22,750-square-foot Sprouts Farmers Market located in Claremont. The property sold for over $12 million. Fariba Kavian of NAI Capital represented the seller, HCLARE LLC, in the sale of the property to Acquisition Group Inc. The single-story building is situated on 1.91 acres of land and was renovated in 2007.
LOS ANGELES, CALIF. — U.S. Property Trust has purchased the Lakewood Galleria, a 19,008-square-foot shopping center in Lakewood, for an undisclosed sum. The center is located at 5115 Candlewood Road across from the Lakewood Galleria Mall. Tenants at the center include Fantastic Sam’s, Corner Bakery Café, Cold Stone Creamery, Rubio’s Grill and Pick Up Stix, among others. HFF brokered the transaction.
LOS ANGELES — Stevenson Real Estate Services has arranged the sale of a retail center located at 5581 Huntington Drive North in Los Angeles. 11305 West Moorpark LLC acquired the property for $4.1 million from Sandale LLC. Situated on a 28,807-square-foot land parcel, the property offers 9,689 square feet of retail space. Built in 2008, the property is 100 percent occupied by tenants including Antigua Bread Bakery & Café, Jackie’s Closet, Subway, Rite-Optics, Prodigy Hair Salon, Burrito Place, Boost Mobile and Tips 2 Toes. Randy Stevenson, Stephen Baker and Kris Hons of Stevenson Real Estate Services represented the seller, while Andrew Awaida of RE/MAX Optima represented the buyer in the transaction.
MIAMI — Miami-based Melo Group has closed a $95 million loan from Ocean Bank to fund the construction of Aria on the Bay, a 647-unit luxury condominium tower under development at 1770 N. Bayshore Drive in downtown Miami’s Arts & Entertainment district. Designed by Arquitectonica, the 53-story condo tower will overlook Margaret Pace Park and Biscayne Bay. Site development is underway and vertical construction is set to begin next month, with delivery slated for 2017. Upon completion, Aria on the Bay will offer one-, two- and three-bedroom condos, as well as three-story upper penthouses, with prices ranging from the $400,000s to more than $12 million. Residence features include private elevator access, floor-to-ceiling glass, wrap-around terraces, bay and city views, open-plan living areas, new finishes and fixtures and European-style kitchens with custom-designed cabinetry. Amenities will include a resort amenity deck on the 14th floor with four pools, a sundeck lounge with fire pits, barbecue grills and outdoor summer kitchens. Additional features include private spa and massage treatment facilities, a fitness center and yoga studio, indoor/outdoor social room and a private screening room with theater seating. The project will also feature about 20,000 square feet of commercial space on the lower floors, …