NEW YORK CITY — Citicore has brokered the sale of a development site located at 207 West 75th St. between Amsterdam and Broadway in the Upper West Side. Howard Neu purchased the 14,750-square-foot site for $13.3 million from Felipe Coello. The site features a 5,000-square-foot property, with a 2,500-square-foot basement. Beach Bum Tanning leases ground-floor space at the building on a month-to-month basis, while the second floor is currently vacant. Timour Shafran and Benjamin Shafran of Citicore brokered the transaction.
FREEHOLD, N.J. — Triangle Equities has received a $7.5 million loan for its 62,000-square-foot retail property, Freehold Raceway Village, in Freehold. The loan was provided by CIBC, and it follows the successful recapitalization of the shopping center. Located at 200-220 Trotters Way, the shopping center is 100 percent occupied by a variety of tenants, including Big Lots, Huffman Koos, Dick’s Sporting Goods, The Home Depot, Toys R Us, Raymour & Flanigan and Christmas Tree Shoppes.
BOSTON — Fantini & Gorga has arranged $7 million in permanent financing for a mixed-use portfolio in the John Eliot Square section of Roxbury, a neighborhood in Boston. The financing was arranged on behalf of Roxbury Highland LLC with a major regional financial institution. The four-property portfolio consists of 52 apartments and two commercial spaces, totaling 33,000 square feet of rentable space. Tim O’Donnell and Jason Cunnane of Fantini & Gorga arranged the financing.
TAMPA, FLA. — CBRE Capital Markets has brokered the $85.1 million sale of Camden Bayside Apartments, an 832-unit waterfront rental community in Tampa. Cortland Partners purchased the asset, located at 6301 S. Westshore Blvd., from Houston-based Camden Property Trust, a multifamily REIT. Camden Bayside’s amenities include two car care centers, two resort-style swimming pools, a fitness center, conference room, business center with Wi-Fi, bayside gazebos, dog park, tennis courts and boat storage areas. John Selby and Sean Williams of CBRE Capital Markets represented Camden Property Trust in the transaction.
VANCOUVER — Pure Industrial Real Estate Trust (PIRET), an industrial REIT based in Vancouver, has purchased a 51 percent interest in the $57 million acquisition of three industrial assets in North Carolina. The three bulk distribution/warehouse facilities are located in the Greensboro/Winston-Salem markets and total roughly 1.3 million square feet. The assets are 100 percent leased to three tenants. The properties are located at 6104 and 6105 Corporate Park Drive in Greensborough and 3928 Westpoint Blvd. in Winston-Salem. The acquisition was funded with a $29 million bridge loan facility and $14.1 million that PIRET provided from existing working capital for its share of the balance of the purchase price. After completing the acquisition, PIRET’s portfolio of assets under management will total 177 properties spanning 17.5 million square feet.
ATLANTA — Lucror Resources LLC, an Atlanta-based developer, has closed an $11.2 million new markets tax credit transaction with Invest Atlanta and JPMorgan Chase to finance the renovation of the Atlanta Flatiron Building. Upon completion of the renovation, the 11-story office building will house the Microsoft Innovation Center and Women’s Entrepreneur Initiative. Georgia Tech’s Enterprise Innovation Institute will assist in the management of the building. Phase I of the renovation is slated for a summer 2015 completion. Aaron Kowan, Jason Cordon and Matt Brodnan of The Private Client Law Group represented Lucror in the negotiations. Drew Marlar of Kutak Rock represented Invest Atlanta, and Andrea Burke and Benjamin Swartzendruber of Applegate & Thorne-Thomsen represented JPMorgan Chase.
ANNAPOLIS JUNCTION, MD. — Terreno Realty Corp. has purchased a 115,000-square-foot distribution center in Annapolis Junction for approximately $10.4 million. The industrial property is located at 9070 Junction Drive approximately three miles from Fort Meade in the central Baltimore/Washington corridor. The property consists of 25 dock-high loading bays and five grade-level loading positions. The building is currently 38 percent leased to two tenants.
MIAMI — Marcus & Millichap has brokered the $5.1 million sale of a 30,000-square-foot office building located at 1850 S.W. 8th St. in Miami’s Calle Ocho neighborhood. Constructed in 1972, the five-story building features ground-level retail space and four stories of office suites. Alex Zylberglait of Marcus & Millichap’s Miami office represented the seller, a limited liability company based in Miami, and the buyer, a limited liability company based in North Miami. Included in the purchase was two additional lots comprising 0.3 acres that are currently being used as parking for the nearby Praxis Institute.
FLAGSTAFF, ARIZ. – The 100-unit Table Rock Apartments in Flagstaff has sold to Red Rock Investment Management for $14.3 million. The community is located at 3400 S. Lake Mary Road. It was built in 1998. The seller, Virtu Investments, was represented by Jim Crews and Brett Polachek of Cushman & Wakefield.
TEMPE, ARIZ. – A pair of free-standing, single-tenant buildings in Tempe that are triple-net leased to Target and US Bank have sold to Rosebud Tempe One LLC for $11.9 million. The properties are located at the northeast corner of McClintock Drive and Baseline Road. Target has occupied this space since 1988. Major employers in the area include Intel, Arizona State University and Maricopa Community Colleges. Acquisition financing was arranged by CBRE’s Geoffrey Harris. Joseph Compagno of the same firm represented both the buyer and seller, Hudson Retail Center LLC, in this transaction.