Property Type

HFF Arranges $26.5M Loan for Apartment Community in Raleigh

by John Nelson March 27, 2015

RALEIGH, N.C. — HFF has secured $26.5 million in financing for Summermill at Falls River, a 320-unit, Class A apartment community in Raleigh. Completed in 2002, the multifamily property features one-, two- and three-bedroom units averaging 1,095 square feet and was 96 percent occupied at the time of financing. Summermill at Falls River’s amenities include a swimming pool, fitness center, children’s playground, business center and access to walking trails at the Annie Louise Wilkerson, MD Nature Preserve Park. Matthew Schoenfeldt, Jason Bond, Jimmy Conley and Travis Anderson of HFF arranged the seven-year, interest-only loan through Freddie Mac’s CME program on behalf of the borrower, Banner Apartments LLC, a multifamily owner and developer based in Northbrook, Ill.

March 27, 2015

Retail Southeast Tennessee

The Shopping Center Group Leases Retail Center Underway in Memphis

by John Nelson March 27, 2015

MEMPHIS, TENN. — The Shopping Center Group is the leasing agent for a new retail center under construction at 6450 Poplar Ave. in east Memphis. Crown Centre LLC, an affiliate of Fogelman Investment Co., is developing the 29,000-square-foot retail center, which is adjacent to International Paper’s world headquarters. The building shell is expected to be complete in April.

March 27, 2015

Retail South Carolina Southeast

Provest Properties Acquires South Carolina Shopping Center for $11.8M

by John Nelson March 27, 2015

CAMDEN, S.C. — ProVest Properties LLC has purchased Springdale Plaza, a 179,000-square-foot shopping center located in Camden, for $11.8 million. The property was 94 percent leased at the time of sale to tenants such as Belk, Burke’s, Farmer’s Home Furniture, Goodwill, Dollar Tree, Gamestop, Rue 21 and Hibbett Sports. Marc Birnbaum, Esq. represented Charles Vita of ProVest Properties in the negotiations.

March 27, 2015

Mixed-Use Restaurant Retail South Carolina Southeast

NAI Avant Brings Retail Portion of Mixed-Use Property in Downtown Charleston to Full Occupancy

by John Nelson March 27, 2015

CHARLESTON, S.C. — NAI Avant has secured retail tenants for all five available suites in The Grand at Midtown, a mixed-use apartment community located at the corner of Meeting and Spring streets in downtown Charleston. King of Pops, a gourmet popsicle company, and an unnamed retailer will join existing retailers Edward Jones, Bull Street Market and CHS Revolution at the property, which was formerly known as Elan Midtown. Phillipa Ward of Arthur Ravenel Commercial Realty represented King of Pops in the 615-square-foot lease transaction. Amanda Reeves of Lee & Associates represented the unnamed retailer in the 1,575-square-foot lease deal. Scott Peevy and Ruth Marie Embler of NAI Avant represented the landlord, Meeting Street Realty Co., in the lease negotiations.

March 27, 2015

Massachusetts Northeast Retail

Dividend Capital Acquires South Cape Village for $35.5M

by Amy Works March 27, 2015

MASHPEE, MASS. — Dividend Capital has acquired South Cape Village, a retail center in Mashpee, from Mashpee Investors LLC for $35.5 million. The 143,477-square-foot lifestyle center features a variety of tenants, including Roche Brothers, Marshalls, Walgreens, Olympia Sports and Santander Bank. Robert Griffin, Geoffrey Millerd and Justin Smith of Cushman & Wakefield negotiated the transaction on behalf of Mashpee Investors LLC.

March 27, 2015

Massachusetts Northeast Office

Transwestern | RBJ Brokers $22.3M Sale of Two Office Buildings in Massachusetts

by Amy Works March 27, 2015

WALTHAM, MASS. — Transwestern | RBJ has brokered the sale of two office buildings, located at 1432 and 1440 Main St. in Waltham. Charles River Realty Investors and Crosspoint Associates Inc. sold the properties to Ferris Development for $22.3 million. The two-building portfolio totals 134,839 square feet of office space and is 90 percent occupied. Ferris Development plans to upgrade the base infrastructure of the buildings and make cosmetic improvements to the lobbies, common areas and restrooms. Chris Skeffington, Ron Friedman and Roy Sandeman of Transwestern | RBJ represented the seller and procured the buyer in the transaction.

March 27, 2015

Mixed-Use New York Northeast

Kinsey Capital Arranges Sale of Upper East Side Mixed-Use Property

by Amy Works March 27, 2015

NEW YORK CITY — Kinsey Capital has arranged the sale of a mixed-use property, located at 808 Lexington Ave. in Manhattan’s Upper East Side. An affiliate of ICON Realty Management purchased the property for $9.7 million, or $1,500 per square foot. Fig & Chain occupies the retail portion of the building. Brent Glodowski and James Kinsey of Kinsey Capital were the sole brokers in the transaction.

March 27, 2015

Massachusetts Multifamily Northeast

Boston Capital Invests in Affordable Multifamily Property in Boston

by Amy Works March 27, 2015

BOSTON — Boston Capital is investing in the construction of Patriot Homes, an affordable multifamily community in Boston. General partners for the 24-unit property are Braintree, Mass.-based Caritas Communities and Boston-based South Boston Neighborhood Development Corp. Located in the South Boston neighborhood, the property will feature 12 studios, two one-bedroom units and 10 two-bedroom units. Community amenities will include a community room with a kitchen and a common laundry facility room. Patriot Homes will be built with tax credit equity from the Low Income Housing Tax Credit program, offering homes to veterans, individuals and families earning 60 percent or less of the area median income.

March 27, 2015

Mixed-Use New York Northeast

Cushman & Wakefield Arranges Sale of East Harlem Mixed-Use Property

by Amy Works March 27, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building, located at 2147 Second Ave. in Manhattan’s East Harlem neighborhood. The nine-story building sold for $7.5 million, or $465 per square foot, in an all-cash transaction. The newly constructed 16,128-square-foot property features 16 residential units and 1,950 square feet of ground-level commercial space. Lev Kimyagarov of Cushman & Wakefield represented the seller, while Edmond Levy of Cornerstone Real Estate Investments represented the seller in the transaction. The names of the seller and buyer were not released.

March 27, 2015

California Loans Multifamily Western

Highland Gardens Apartments in Mountain View Receives $54.8M Loan

by Nellie Day March 27, 2015

MOUNTAIN VIEW, CALIF. — The 187-unit Highland Gardens Apartments in Mountain View has received $54.8 million in acquisition financing. The garden-style community is located at 234 Escuela Ave. in Silicon Valley. Highland Gardens was built in 1963 and renovated in 2013. Community amenities include a fitness center, swimming pool, bocce ball court and barbecue cabana. The asset previously operated as two separate properties. They were split down the middle by a parcel of land owned by the San Francisco Public Utility Commission. This parcel includes underground water mains that provide water to the nearby San Francisco Bay area. The seven-year loan was structured as full-term, interest-only financing. The community was purchased by Decron Properties this past January for $86 million. The Fannie Mae loan was structured by Bryan Frazier of Walker & Dunlop.

March 27, 2015

Newer Posts

Older Posts