Property Type

Grandbridge Finances $25.5M Loan for Multifamily Property in Omaha

by Amy Works July 2, 2015

OMAHA, NEB. — Grandbridge Real Estate Capital has secured a $25.5 million first mortgage loan for a multifamily property in Omaha. The funding was provided by a Grandbridge correspondent life insurance company and features a 10-year term and a 30-year amortization schedule. Built in 1958 as an office building and later converted to residential, the 300-unit Class A apartment building is 100 percent leased. Dick Riley and Brett Olson of Grandbridge’s Minneapolis office originated and closed the refinance transaction.

July 2, 2015

Trowbridge-Village-Retail-East-Lansing-MI

Loans Michigan Midwest Retail

Cohen Financial Secures $7.7M Loan for Grocery-Anchored Retail Property

by Amy Works July 2, 2015

EAST LANSING, MICH. — Cohen Financial has secured a $7.7 million CMBS loan on behalf of River Caddis Development for Trowbridge Village Retail Center in East Lansing. Located adjacent to Michigan State University, the 48,600-square-foot shopping center is anchored by Fresh Thyme Farmers Market, a Midwest-based natural foods grocery store. Cathy Bronkema of Cohen Financial secured the financing with a CMBS lender.

July 2, 2015

Hospitality Illinois Midwest

Weglarz Co., William A. Randolph Complete Hyatt Place at Midway Airport

by Amy Works July 2, 2015

BEDFORD PARK, ILL. — Developer Weglarz Co. and general contractor William A. Randolph have completed the development of Hyatt Place Hotel at Midway Airport in Bedford Park, a Chicago suburb. Located at 6500 Cicero Ave., the six-story property features 148 rooms, an indoor swimming pool, fitness center, putting green, bar/café, lounge and meeting room facilities. Legat Architects provided architectural design services and Tech 3 Consulting served as civil engineer for the project.

July 2, 2015

Michigan Midwest Restaurant Retail

NorthStar Commercial Brokers Sale of Restaurant Property in Michigan

by Amy Works July 2, 2015

HOLLAND, MICH. — NorthStar Commercial has brokered the sale of a standalone restaurant property located at 2332 N. Park Drive in Holland, approximately 29 miles southwest of Grand Rapids, Mich. An undisclosed buyer acquired the 6,007-square-foot property for $1.1 million. Aaron Eichenberg of NorthStar represented the seller, a Florida-based private investor, in the transaction. The property was previously occupied by Perkins Restaurant.

July 2, 2015

Illinois Midwest Multifamily

Marcus & Millichap Arranges Sale of 12-Unit Apartment Building in Illinois

by Amy Works July 2, 2015

ELMWOOD PARK, ILL. — Marcus & Millichap has brokered the sale of an apartment building located at 2646-50 N. Harlem Ave. in Elmwood Park. The 12-unit property sold for $850,000. The property consists of two one-bedroom/one-bath units, two two-bedroom/one-bath units and eight two-bedroom/one-bath units. Andrean Angelov, Ryan Engle and Jordan Gilbert of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor, and secured the buyer, a limited liability company, in the transaction.

July 2, 2015

New York Northeast Retail

Cushman & Wakefield Brokers $24.3M Sale of Retail Property in Manhattan

by Amy Works July 2, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a retail condominium located in Manhattan’s East Village. The 15,311-square-foot property sold for $24.3 million, or $1,590 per square foot, and features more than 200 feet of wraparound frontage. The property is currently divided into three separate spaces on the ground floor and basement. Additionally, the property is undergoing renovation to include an additional 1,314 square feet of retail space. James Nelson and Bob Knakal of Cushman & Wakefield negotiated the transaction. The seller was Benchmark, but the name of the buyer was not released.

July 2, 2015

Hospitality Massachusetts Northeast

Ultima Hospitality Acquires DoubleTree Hotel Boston – Westborough

by Amy Works July 2, 2015

WESTBOROUGH, MASS. — Ultima Hospitality has acquired the DoubleTree by Hilton Hotel Boston – Westborough in Westborough, approximately 35 miles form downtown Boston, for an undisclosed price. The 223-room hotel features 13,300 square feet of meeting space, a full bar and restaurants and an indoor pool. The property recently underwent a renovation of its common areas and Ultima plans to renovate the guestrooms. The name of the seller was not released.

July 2, 2015

Hospitality Loans New Hampshire Northeast

Cronheim Hotel Capital Secures $5.9M Loan for 122-Room Holiday Inn in New Hampshire

by Amy Works July 2, 2015

CONCORD, N.H. — Cronheim Hotel Capital has secured $5.9 million in financing for Holiday Inn in Concord. Lisa McMahon and Andrew Stewart of Cronheim Hotel Capital arranged the 10-year loan, which features a 30-year amortization schedule, for the borrower, an affiliate of Chartwell Hotels. Renovated in 2010, the hotel features 122 rooms and 5,300 square feet of meeting space.

July 2, 2015

New York Northeast Retail

Thor Equities Acquires SoHo Retail Property

by Amy Works July 2, 2015

NEW YORK CITY — Thor Equities has acquired a retail property located at 51 Greene St. in SoHo for an undisclosed sum. The two-level, 30,000-square-foot building is currently occupied by Arcadia Fine Arts, a gallery specializing in sculptures, paintings and photographs by contemporary artists. The name of the seller was not disclosed.

July 2, 2015

New Jersey Northeast Retail

Marcus & Millichap Arranges $2.5M Sale of Retail Property in New Jersey

by Amy Works July 2, 2015

DENVILLE, N.J. — Marcus & Millichap has arranged the sale of a Denville Strip Center, a retail center located at 28 Diamond Spring Road in Denville. The 8,820-square-foot property sold for $2.5 million. Built in 1990, the property is 100 percent occupied by four tenants. Julienne Pape of Marcus & Millichap’s New Jersey office represented the seller, a developer, and the buyer, a partnership, in the transaction.

July 2, 2015

Newer Posts

Older Posts