NEW YORK CITY — Chesapeake Lodging Trust has received $60 million in refinancing for the 122-room Holiday Inn New York City Midtown – 31st Street and the 185-room Hyatt Place New York Midtown South. The term loan was refinanced with a new 10-year, $90 million fixed-rate mortgage loan secured by the two previously mentioned hotels. Provided by Goldman Sachs Mortgage Co., the loan carries a fixed interest rate of 4.3 percent per annum. Additionally, the loan features two years interest only and a 30-year amortization schedule.
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NEW YORK CITY — Besen & Associates has brokered the sale of a four-property multifamily portfolio located in Manhattan’s Inwood section for $18.4 million or $145,000 per unit. Located at 150-152, 158-160 and 170 Vermilyea Ave., the 111,420-square-foot, 129-unit portfolio features five studio units, 35 one-bedroom, 69 two-bedroom and 20 three-bedroom apartments. Morris Arlos, Greg Corbin and Amit Doshi of Besen & Associates represented the seller and procured the buyer, a local private investor, in the transaction.
BRYN MAWR, PA. — Bryn Mawr-based WP Realty has completed the disposition of four retail centers in metro Boston. The portfolio consists of the 71,210-square-foot Cushing Plaza in Cohasset, Mass.; the 104,923-square-foot Shaw’s Plaza in Easton, Mass.; the 57,181-square-foot Shaw’s Plaza in Hanover, Mass.; and the 45,882-square-foot Hannaford Bros. in Waltham, Mass. The portfolio was 97 percent leased to variety of tenants, including Shaw’s, Hannaford Bros., Walgreens, Rite Aid, Bank of America and Citizen’s Bank.
ORONO, MAINE — Orion Student Housing has acquired Orchard Trails in Orono. Located at Four Empire Dr., the 144-unit student housing complex is located near the University of Maine campus. Orchard Trails Housing LLC sold the property for an undisclosed price. Dan Greenstein of CBRE | The Boulus Company, in conjunction with Simon Butler and Biria St. John of CBRE’s Boston and Ryan Reid of CBRE Dallas, arranged the transaction.
HOUSTON — Rogers-O’Brien is opening a Houston office, led by regional vice president Gregg Lynch, at 11200 Richmond Ave. The company has been active in the Houston area for a decade, building healthcare and assisted living projects. Lynch brings 27 years of management experience to the job, including 10 years in Houston. He previously led Rogers-O’Brien’s Topeka, Kansas, office.
DALLAS — Parmenter Realty Partners has sold the 196,215-square-foot Two Forest Plaza office building in Dallas to an affiliate of Encore Enterprises. Jack Minter and Creighton Stark from Colliers International represented Parameter in the transaction. Tenants of Two Forest Plaza include New York Life Insurance Co. and La Madeleine. The sale price was not disclosed. Two Forest Plaza has earned Energy Star certification and the BOMA 360 Performance Designation.
GRAND PRAIRIE, TEXAS — Amcor has leased 211,850 square feet of industrial space in Great Southwest 47 at 610 W. Trinity Blvd. in Grand Prairie, 13 miles west of Dallas. Blake Anderson and David Eseke of Cassidy Turley, along with Greg Kloiber of Top Gun Advisors, represented Amcor. Jeff Folkmann represented the landlord, Prologis, internally.
GARLAND, TEXAS — LaBodega Meat has renewed its lease of 96,000 square feet at Logistics Pointe/Garland for another 15 years. The wholesale grocery and meat business will remain at 2600 McCree Road in Garland, adjacent to Interstate 35. Westmount Realty Capital, which owns the property, and LaBodega together will make an investment of nearly $10 million during the next two years in improvements and new bakery equipment. David Sours and Kevin Kelly of CBRE represented the tenant.
TUCSON, ARIZ. — Villas at Roger Road, a 232-unit apartment complex in Tucson, has sold to Equilibrium Villas LLC for $5.6 million. The community is located at 3985 N. Stone Ave. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers HSK Multifamily represented both the buyer and the seller, Blue Valley Apartments, in this transaction.
PHOENIX – The 200-unit Camelback Vista apartment community in Phoenix has sold to La Fuente de la Comunidad LLC for $5.1 million. The community is located at 2930 W. Camelback Road, near Grand Canyon University. La Fuente was represented by Todd Noel of Colliers International in Phoenix. The seller, a Texas-based private investor, was represented by Rich Butler, Brian Tranetzki, Cliff David and Steve Gebin of Marcus & Millichap’s Phoenix office.