Property Type

Celebration Pointe Regal Cinemas Gainesville

Regal Cinemas to Open 10-Screen Theater in $200M Celebration Pointe in Gainesville

by John Nelson May 15, 2015

GAINESVILLE, FLA. — Knoxville, Tenn.-based Regal Entertainment Group plans to open a new 10-screen, reserved-seating luxury theater at Celebration Pointe in Gainesville. The theater will feature upscale recliners, a lobby with a full-service bar and lounge seating. Located at the intersection of I-75 and Archer Road and anchored by Bass Pro Shops, the $200 million, 1 million-square-foot Celebration Pointe will feature a mix of approximately 400,000 square feet of entertainment, outlet retail and restaurants uses. Phase I of Celebration Pointe is slated to open in fall 2016.

May 15, 2015

Georgia Multifamily Southeast

Berkshire Group Completes Purchase of Crescent Howell Mill in Atlanta

by John Nelson May 15, 2015

ATLANTA — Affiliates of Boston-based Berkshire Group have completed their purchase of Crescent Howell Mill, a new 256-unit apartment community that Crescent Communities recently delivered in Atlanta’s West Midtown district. The transaction is part of the sale of a nine-property, $700 million portfolio of Crescent Communities-developed assets in the Southeast. Berkshire’s affiliates have also purchased three other assets in the portfolio and are expected to acquire two more, according to Crescent Communities. UBS Global Asset Management is the buyer of the other three portfolio properties, including the recently opened Crescent Bayshore in Tampa.

May 15, 2015

Multifamily North Carolina Southeast

Capstone Brokers Sale of Three Apartment Communities Totaling $21.8M

by John Nelson May 15, 2015

GREENSBORO AND ASHEBORO, N.C. — Capstone Apartment Partners has brokered the sale of three apartment communities in North Carolina’s Triad area for a combined $21.8 million. Totaling 403 units, the three properties include Rehobeth Pointe and Juliet Place in Greensboro and Hanover Court in Asheboro. Elkal Inc. purchased Rehobeth Pointe and Juliet Place from The Keystone Group for $16 million. Beau McIntosh and Austin Green of Capstone represented the seller in the transaction. The Keystone Group purchased Hanover Court from Kings Cross and Hanover Associates for $5.8 million. John Ackiss and Andrew Klenk of Capstone represented the seller in the transaction.

May 15, 2015

Mixed-Use New York Northeast

Dalan Management, RWN Real Estate Partners Buy Mixed-Use Property for $14.6M

by Amy Works May 15, 2015

NEW YORK CITY — Dalan Management has partnered with RWN Real Estate Partners to acquire a mixed-use property located at 235 Elizabeth St. in New York City’s Nolita district. Gordon Chin, who owned the property with his family since 1987, sold the property for $14.6 million, or approximately $800 per square foot. The six-story, 18,081-square-foot property features 27 residential apartments and three retail spaces. Daniel Altman of Belkin Burden Wenig and Goldman LLP provided legal counsel for the buyer in the transaction, which was brokered by George Solano of City Limits.

May 15, 2015

New York Northeast Retail

Eastern Consolidated Arranges $8M Sale from $107M Lee Estate Portfolio in Brooklyn

by Amy Works May 15, 2015

NEW YORK CITY — Eastern Consolidated has arranged the $8 million sale of a retail property located in Brooklyn. Supermarket Farm Country, the current tenant, has purchased the 26,800-square-foot property located at 2203-2225 Linden Blvd. from the Lee Estate. Adelaide Polsinelli and Ben Tapper of Eastern Consolidated represented both parties in the transaction.

May 15, 2015

Healthcare Northeast Pennsylvania

Colliers Brokers $3.8M Sale of Healthcare Facility in Pennsylvania

by Amy Works May 15, 2015

TREVOSE, PA. — Colliers International has brokered the sale of a healthcare facility located at 2500 Northgate Road in Trevose. The 24,458-square-foot property traded between two local private entities for $3.8 million. Situated within the 657,000-square-foot Neshaminy Interplex business campus, the property is absolute net-leased to LIFE St. Mary, which is guaranteed by St. Mary Medical Center, a member of investment grade credit CHE Trinity Health. Jeff Algatt and Matthew Shanahan of Colliers represented both parties in the transaction.

May 15, 2015

New Jersey Northeast Office

NAI James E. Hanson Arranges Sale of Two-Building Office Complex in New Jersey

by Amy Works May 15, 2015

PARSIPPANY, N.J. — NAI Hanson has arranged the sale of Boulevard Common, an two-building office complex located at 1140-1160 Parsippany Blvd. in Parsippany. Micro Strategies Inc. purchased the properties for an undisclosed price and will relocate its offices from Mt. Olive, N.J. The complex offers 44,596 square feet of Class A office space, a state-of-the-art infrastructure and close proximity to Routes 287, 80 and 46. Josh Levering and Michael Walters represented the seller, HGF Parsippany Blvd LLC, in the transaction. The buyer was represented by Cushman & Wakefield.

May 15, 2015

New York Northeast Retail

ARM Real Estate Group Brokers Sale of Retail Property in Queens

by Amy Works May 15, 2015

NEW YORK CITY — ARM Real Estate Group has brokered the sale of a corner retail building located in the Woodside neighborhood of Queens. The Daniel Group purchased the 9,500-square-foot property for $2.8 million from 5401 Nb LLC. Located at 540-01 Northern Blvd. and built in 1952, the property features three retail spaces: a Chinese restaurant, a convenience store and a carpet shop. The buyer plans to reposition the property once the current leases expire. Anand Melwani of ARM Real Estate Group represented both parties in the transaction.

May 15, 2015

California Loans Multifamily Western

The Medallion in Downtown Los Angeles Receives $33M Refinance

by Nellie Day May 14, 2015

LOS ANGELES – The Medallion, a 96-unit apartment building in Downtown Los Angeles, has received a $33-million refinance. The community is located at 334 S Main Street. It is currently 97 percent occupied. The property also contains 80,000 square feet of ground-floor retail space and a 275-car parking garage. The loan is also secured by a fully entitled, two-acre development site that sits adjacent to the Medallion. That site is slated for Phase II of the community, which will include an additional 300 units. It is currently leased to a parking lot operator. The short-term bridge loan was secured by Jonathan Hakakha and Mike Yim of Quantum Capital Partners on behalf of Illusion Holdings and Ocean Blue Investments.

May 14, 2015

Colorado Multifamily Western

Cheyenne Crossing Apartments in Colorado Springs Sells for $25M

by Nellie Day May 14, 2015

COLORADO SPRINGS, COLO. – The 220-unit Cheyenne Crossing apartment complex in Colorado Springs has sold to OP Cheyenne LLC for $25 million. The Class B+ community is located at 640 Wycliffe Drive. The deal was organized and sponsored by OpenPath Investments LLC (OPI). The firm identifies workforce housing properties with more than 100 units that offer value-add or operational upside opportunities within the Western States.

May 14, 2015

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